What Is Corporate Crime - Essay Example

?Corporate Crime Corporate companies have often been regarded as an essential factor molding the modern life by exerting their tremendous influences in various sectors. It is to be noted that most of the activities of one’s daily lives are influenced by corporate companies that they, to a certain extent, influence the primary needs of the general public. Corporative companies are at present providing the amnesties for the people which was one provided by the governments. This clearly underlines the fact that corporate companies are bearing significant roles in the modern world. Analyzing the roles of the corporate companies, one can clearly identify that they monitor the wealth and economy of a nation in various ways. They have often been identified as restructuring the economy and their shareholders and the political institutions of a country. Therefore, it is crystal clear that the corporate firms control the important sectors of a country and as such, any change or issues affecting the corporate companies will certainly distress public life. Considering this context, the study of corporate crimes has an elite role in determining the dominant factors that channelize human life. What is Corporate Crime? When one attempts a study on the topic; Corporate Crimes, one has to keep in mind the fact that it is topic which needs a broad research and a systematic study. Even a mere observation will unveil various types of corporate crimes which really makes the study extensive. As the study is extensive, many have attempted to define corporate crime. Sally S. Simpson (p.6.) of University of Maryland, in Corporate Crime, Law and Social Control, identifies “corporate crime is [as] a type of white-collar crime.” Simpson also acknowledges Edwin Sutherland who regarded corporate crime as the “criminal activity by persons of high social status and respectability who use their occupational position as a means to violate the law” (Sutherland, 1949). Another definition of the corporate crime can be seen with Braithmore (1984, p.6.) who has been defined it as, “conduct of a corporation, or of employees acting on behalf of a corporation, which is proscribed and punishable by law.” Thus, from the above definitions, one can infer that corporate crimes are white collar crimes committed by the employees. Corporate crimes have been identified as the deliberate attempt of the companies aimed to injure the public more than street crimes in many ways: economically, socially, physically and environmentally (Corporate crime). But the notable thing regarding corporate crimes is that these criminal violations come under civil and administrative law, and as such, penalties include fines but not imprisonment. Various industries have formed and implemented their own laws and they control their employees by themselves. Corporate crimes are many and varied that one can find it negatively affecting the proper growth of a corporate firm. As it is committed by individuals for their personal gain corporate crimes may cause great loss for the employers. Many have identified the most common form of white collar crime as the employee steals from the employer who cheats customers and pockets the difference. An overview of the corporate crime reveals three types of crimes namely; corporate violence, economic corporate crimes and white collar crimes (Corporate crime). Corporate crime involves various kinds of crimes. Corporate violence includes three types of crimes such as, violence against workers, violence against consumers and corporate pollution. This is quite alarming to note that “6 million workers injured on the job in the US and 10,000 people die in the workplace from injuries and 10,000 from long term effects of occupational diseases” (Corporate crime). Violence against workers is irresponsibility of the corporate executives in arranging occupational health and safety standards which are inevitable for assuring the life security of the workers. Deaths of thousands of workers as an after effect of such kind of reckless activities may be referred to as violence against workers. Violence against consumers may also have included among corporative violence as thousands of unsafe products injure or kill thousands of consumers every year. One will certainly be startled at the statistics that about 100,000 people are permanently disabled each year and 30,000 die as a result of these unsafe products (Corporate crime). Like violence against consumers, corporate pollution is also a corporate crime that makes the people experience violence in the form of pollution and green crimes. Economic corporate crimes are basically concerned with two kinds of crimes namely, Price fixing and False advertising. The online article entitled; Corporate crimes identifies the most common forms of Price fixing. They are, “(i) setting prices at predetermined, similar levels, (ii) dividing the market into regions, with each firm agreeing to stay out of the other’s territory, and (iii) agreeing to take turns submitting winning competitive bids for contracts, often from government agencies” (Corporate crime). False adverting also misleads the customers and they buy services and products without knowing the real quality. Here, in the case of false advertising one can identify two forms, “(i) blatantly false and (ii) puffery, which is a legal, more subtle form of false advertising that typically involves making exaggerated claims for a product or service” (Corporate crime). But one has to note that false advertising also, like the other corporate crimes, is excluded from criminal or civil laws. To conclude, one can infer that corporate crime is a grave issue that affects a corporate company as well as the society. The study has unveiled the fact that corporate crimes influence even the basic needs of the general public and assume a very decisive role in restructuring the economy and their shareholders. Corporate crimes may also affect the smooth running of the political institutions of a country and scrutinize the wealth and economy of a nation. Most of the corporate crimes are identified as the deliberate attempt of the companies aimed to exploit the public in various ways. It has also identified that, in a way, they are more severe than the street crimes. Therefore, it is evident that corporate crimes negatively affecting the corporate firms and thus by the society economically, socially, physically and environmentally. Hence, the study unveils the ill effect of corporate crimes and concludes by stating that corporate crimes should be strictly prevented by law. References: Braithmore, J. (1984). Corporate Crime in the Pharmaceutical Industry, London: Routlege and Kegan Paul. Corporate crime. Retrieved March 23, 2011.from http://www.julianhermida.com/contcorporate.htm Simpson, S.S. (2002). Corporate Crime, Law and Social Control: Cambridge University press. Sutherland, E. (1949). White-Collar Crime: New York: Dryden Press Read More