___Assignment # 4___

Corporation is a business in which large numbers of people are organized so that their labor and capital are combined in a single venture.Modern corporations include not only profit-making firms but also educational,scientific,recreational,charitable and religious organizations.


The size and economic power of some industrial agglomerations have long been a subject of controversy. Many of today's corporations have thousands of employees and control billions of dollars in assets.

The enormous debts taken by the new companies often left them too weakened to find new technologies or compete in contracting markets. Added to it was the intense competition propelled by integration of world markets,freer trade, and new technologies.Thus, in this 21st century,companies were forced to become more efficient,reduce costs, and compete more effectively to survive in the new global village. And also, a rash of bankruptcies and corporate restructuring and downsizing to meet new realities. In the wake, hundreds of thousands of workers lost their jobs,lenders went unpaid,retirees lost pensions, and unwary stockholders lost their investments.

Now, large corporations in general, and multinational corporations in particular, will face new challenges to their operational autonomy, investment safety, and profitability as they evolve and adapt to meet new societal expectations. New global forces in the form of international agencies and internationally linked religious and other public-interest groups will be monitoring their performance to ensure that their activities benefit all concerned parties.