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What is a CORPORATION? Definition: In terms of the New World Order, the largest Transnational Corporations (TNCs) are central players. They influence the policies of governments worldwide; they help to order the agenda of the World Trade Organization. They influence the destinies of individual economies in the developing world (LEDCs), they set wage-levels, which can cause the first world (MEDCs) to bend to their demands, and so on. From: Douglas Lewis University of Sheffield, UK Some facts about corporations Of the world's 100 largest economic entities, 51 are now corporations and 49 are countries. Rank Country / Corporation GDP / sales ($million) 1 United States 8,708,870 2 Japan 4,395,083 3 Germany 2,081,202 23 General Motors 176,558 24 Denmark 174,363 25 Wal-Mart 166,809 26 Exxon Mobil 163,881 27 Ford Motors 162,558 33 Saudi Arabia 128,892 42 Portugal 107,716 43 Royal Dutch Shell 105,366 53 IBM 87,548 …far away… Afghanistan 8,800 Sources: Sales: Fortune, July 31, 2000. GDP: World Bank, World Development Report 2000. How it works: the key corporation members: The Shareholders Invest in the corporation by buying stocks* Select The Board of Directors Accountable to the shareholders Selects Chief Executive Officer (CEO) Responsible for running the company Makes all the major decisions Accountable to the Board of Directors Managers Employees The AIMS of a corporation: Make lots of profit for the shareholders ! How? By buying stocks at low prices and selling at high prices. M. Moore, The Corporation, 2004. Anti-corporation campaign An example: Coca Cola Gruesome: épouvantable RIP: Rest In Peace Give your opinion on this statement: An ingenious device for obtaining individual profit without individual responsibility.-"Corporation" as defined by Ambrose Bierce in The Devil's Dictionary Test Happy New Globalizated Year Artist: Best of Latin America Attribution: Best of Latin America, Date: January 2, 2005