Corporation Existed? Establishing Research Paper

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Members of this type of stakeholders are viewed as owners and private risk takers and are the foundation of a free society.

The other type of stakeholder, according to Novak, is based upon the socialist model where each stakeholder considers himself to be entitled to make demands on the system and to receive these demands. Novak argues that Britain is an example of such stakeholder society where "each citizen is entitled to make claims on others according to his or her needs." Novak further argues that stakeholders in such society have needs that are expansive and, as a result, ultimately not capable of being satisfied. In such society stakeholders are always frustrated because all their needs are not satisfied which leads to a generalized state of anxiety. Novak considers such societies to be unhappy and discontented (Phillips, 2003).

Novak's critical evaluation of social democracy offers a glimpse of his views toward the different types of stakeholders. He obviously favors the type of stakeholder that promotes private ownership and that helped develop the American West over the form of stakeholder that allowed the condition that he now feels exists in Britain. In his article Novak does not openly express his preference but his indictment of social democracy and his clear identity of Britain as representing such governmental form is a strong indicator of his preference.

4. Describe the effects of social democracy. What is the danger of perpetual demand without responsibility?Download full Download Microsoft Word File
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In his article Novak describes Britain as an example of a social democracy. He views Britain negatively and argues that in such society satisfying the perceived needs of the citizenry is impossible and therefore the citizenry lives in a constant state of dissatisfaction. Further, because the desires of the citizens are being satisfied by the government the individual members of society never develop any real sense of personal responsibility. Novak points out that governments built on social democratic theory present a wonderful ideal of unity, a sense of belonging, a feeling of being cared for but, in practice, the system works much differently (Berman, 2006). In such societies, the citizens become too accustomed to demanding and receiving. There is no personal responsibility. Self-interest becomes the driving force and there is little or no social cooperation or concern. The result of such form of government is a society dominated by unhappiness and discontent (Hewitt, 1977).

5. What does Dr. Novak mean when he says the corporation is "not a cold meteor fallen from the sky?

Novak's metaphorical use of the phrase "not a cold meteor fallen from the sky" indicates that the corporate form of business did not suddenly develop, but rather, has developed over time. Although its importance and widespread use is a relatively new development, the concept as a means of meeting societal needs began in the earliest days of human culture. Unlike the meteor falling from the sky, the development of the corporation was not haphazard. The corporation developed as a result of societal need as commerce became more complex, more costly, and the side effects of manufacturing became more hazardous. The development of the corporation began slowly and was initiated for reasons different from what has resulted in the modern cooperation and is further evidence that the corporate form is the result of evolution and not innovation. As business changes over time, it can be expected that the corporate form will change as well. Because corporations are not like the meteor falling from the sky they will change as the needs of society change (Beatty, 2001).


Beatty, J. (2001). Colossus: How the Corporation Changed America. New York: Broadway.

Berman, S. (2006). The Primacy of Politics: Social Democracy and the Making of Europe's Twentieth Century. New York: Cambridge University Press.

Forbes, K.F. (1986). Limited Liability and the Development of the Business Corporation. Journal of Law, Economics, and Organization, 163-177.

Hewitt, C. (1977). The Effect of Political Democracy and Social Democracy on Equality in Industrial Societies: A Cross-National Comparison. American Sociological Review, 450-464.

Maier, P. (1993). The Revolutionary Origins of the American Corporation. The William and Mary Quarterly, 51-84.

Micklethwait, J. (2005). The Company:A Short History of a Revolutionary Idea. New York: Modern… [END OF PREVIEW] . . . READ MORE

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