Corporate terrorism can be defined as any activity of a corporation which is done with the sole objective of profit maximization without considering the stakeholder’s interests as a whole.
2. Introduction
“Corporate crime poses a significant threat to the welfare of the community. Given the
pervasive presence of corporations in a wide range of activities in our society, and the impact
of their actions on a much wider group of people than are affected by individual action, the
potential for both economic and physical harm caused by a corporation is great”
-- (Law Reform Commission of New South Wales: 2001).
the securities market
corporate sector -the main engine of growth for the Indian
economy.
two main goals of a corporation
i) profit maximization and
ii) wealth maximization.
Economic crimes-corporate crimes/ white collar crimes
3. Corporate Terrorism
Corporate terrorism can be defined as any activity of a
corporation which is done with the sole objective of profit
maximization without considering the stakeholder’s interests
as a whole.
4. deceptive or unfair trade practices esp. misleading
advertisements- affects health of the public
misleading advertisements-commercialization of
women-may affect the morals and ethics of the
youth
corporate farming
extreme traits of capitalism- affects livelihood of the
public
corporate retailing
corporate donations vs. CSR under Companies Act
2013
Corporate terrorism can be anything which directly
touches and affects the common man/consumers
and all the stakeholders at large.
5. Conclusive Remarks
We must get away from the fallacy of the legal solubility of all
problems. The survival of our democracy and the unity and integrity
of the nation, depend upon the realization that Constitutional
morality is no less essential than Constitutional legality. DHARMA
lives in the heart of public men, when it dies there, no Constitution,
no law and amendment can save it .
- Nanabhoy Palkhivala
what comes from the people must go back to the people- JRD Tata
only ethical thinking can create a trustworthy corporation-
long standing in the society-wealth maximization
a strong whistle-blowing mechanism can only solve these
immoral and unethical practices.