The Role of Business in Society Essay -- Analysis, Dr. Novak

The problem to be investigated is that of understanding Dr. Novak’s discussions of the role business plays in society. The discussion centers around the topics of understanding the origins of the corporation, understanding the difference between corporations in the United States and Britain, understanding the different definitions of stakeholders, understanding the differences between democracy and social democracy, and understanding the evolving role of business. (Jennings, 2009) Furthermore, viewpoints from Plato, Cicero and Weaver are integrated to add depth to the discussion. The problem to be investigated is that of understanding Dr. Novak’s discussions of the role business plays in society. The discussion centers around the topics of understanding the origins of the corporation, understanding the difference between corporations in the United States and Britain, understanding the different definitions of stakeholders, understanding the differences between democracy and social democracy, and understanding the evolving role of business. (Jennings, 2009) Furthermore, viewpoints from Plato, Cicero and Weaver are integrated to add depth to the discussion. Origins of the Corporation Corporations began in the early middle ages through humbled societies and later developed as monasteries, towns, and universities. These corporations were exclusive and closely controlled by the state. In America in 1636, Harvard University began as a corporation. (Jennings, 2009) This was much to the dismay of those located across the Atlantic, as US citizens’ desired independence from royal charters and wanted to create corporations to meet their needs. By 1750, the American colonies had six universities, while England stil... ...fferent times to the needs of its creators. (Jennings, 2009) Conclusion Dr. Novak has strong and well thought out viewpoints of the role of the corporation in society. His belief is that the corporation in the United States is a stronger and better society because of its ability to provide rewards to stakeholders rather than society as a whole. Dr. Novak further adds to his argument that by understanding the differences between corporations and between stakeholders in the United States and Britain he can identify the motivations and strengths of corporations. (Jennings, 2009) Novak’s beliefs can be further supported by others on the topic including: Plato, Cicero, Aristotle (Henderson et al, 2009) and Weaver. (Weaver 2008) Dr. Novak also includes a discussion with the understanding the evolving role of business. (Jennings, 2009)