SO 206 7 Discussion Corporate Crime

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Corporate Crime

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Corporate Crime

A corporation is a business firm or entity whose activities and articles incorporated within the company have been approved by a given state. Like many firms or businesses, corporations are also involved in several types of pathologies that threaten their existence. In the greater world, these are mainly referred to as corporate crime. Therefore, corporate crime is a type of white collar crime that involves criminal activity by persons of high social status and those respected by the society. It involves these groups of people using their great positions in te society to violate the law. These are usually negative behaviors committed by the corporation or the individuals acting on behalf of the company (Clinard et al., 2005).

There are several pathologies ailing the corporation at large as per the film. These include misrepresentations in the financial statements, bribery and corruption scandals, misappropriation of company funds, manipulation of people especially in the stock markets, misrepresentation in sales, and misapplication of funds in bankruptcies among several others. These pathologies in the long run have several dire consequences to the society at large. It leads to individual economic losses, societal economic loss, emotional consequences to the victims of the crime, physical crime especially from victimization. Bribery and corruption leads to instances of favoritism, these leads to employment of people on the basis of their knowledge of the shareholders which leaves out the correctly qualified people for a particular job, It also leads to obtaining of services in a criminal manner locking out those who truly need the service and use the correct channels to obtain it (Braithwaite, 1984).

The conditions that stimulate corporate deviance mostly is the greed for power. Most “Snakes in suits” are often driven by an enormous greed for power within themselves. They always want to gain more, no matter what it takes. Also, most people always want to take the shortest route process to arrive to a given destination. Most individuals find protocols and corporate bureaucracies extremely involving, thus the need to bypass all these in the shortest manner possible (Sunderland & Edwin, 1949).

Regulations to curb corporate crime include the following: increasing the criminal liability standards for corporations, strengthening the sanctions for the crime, enacting the corporate crime death penalty, banning of corporate criminals from federal contracts, strengthening the foreign corrupt practices act, banning tax deductions for penalties of the crimes and empowering citizens to stand against the crime (Clinard et al, 2005).

In conclusion, the type of crime with the most serious consequences in the society is corruption. This is a public menace that has detrimental effects on the society, the street crime gangs and the corporate world in general. It causes moral perversion; impairment of virtue and moral principles especially among the upper class and the corporate world (Gobert & Punch, 2003).

References

Braithwaite J.1984. Corporate Crime in the Pharmaceutical Industry. Routledge and Kegan Paul Books

Clinard, Marshall, Yeager et al. 2005. Corporate Crime. Transaction publishers

Gobert, J. Punch M. 2003. Rethinking Corporate Crime. Butterworths

Sunderland, Edwin H. 1949. White Collar Crime. Holt, Rinehart and Winston.




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