Issues in crime Essay Example | Topics and Well Written Essays - 1500 words - 1

Issues in crime - Essay Example They are directly not involved in the unscrupulous activity. (1) At this point, it also needs to be specifically highlighted that even employees are immensely benefited by corporate crimes, for their jobs are safeguarded along with getting promotions. To put the matter in a nutshell, the very livelihood of the employees becomes dependent on them being active participants in acts of corporate crime. (1) The motives for carrying out these acts (of corporate crime) vary from one case to the other. Yet, it has been seen that the following three are the primary objectives propelling all corporate crimes: A) To bring about both a rise in profits and also a drop in costs. B) To enable a rise in demand as well as a decline in competition. C) To exercise strong control over workers, markets and supplies. (1) Factors abetting corporate crimes It can conveniently be maintained that corporate crimes started to exist from the same time when commercial organizations first began their operations. I n the contemporary era, there has been a surge in instances of corporate crime, and there indeed are highly valid reasons behind that. The various features of a typical corporate organization have now become more complex than ever, and the conventional systems of internal control are now obsolete. Additionally, the rapid growth in information technology has ensured that the power now wielded by the corporate is without a precedent. This is so much so that the modern-day corporate organizations are making sure that they are in total control of their governance. (2) The biggest factor to which the growth in corporate crimes is attributable is inadequate corporate governance. Corporate governance encompasses various policies, procedures and laws, etc, which endeavor to make sure that persons employed in an organization are made accountable. As mentioned in the preceding paragraph, they (corporate organizations) are now fully empowered to govern themselves, with the related laws being n ot so stringent. This is more so when the corresponding scenario of the past is taken into consideration. As has been stated earlier, the existing systems are being rendered powerless in ensuring accountability of corporate organizations. In addition, since the recent past, there has been a tremendous increase in the number of commercial transactions of corporate organizations. This has made things even more difficult for the prevalent laws in preventing the crimes (corporate). Last but in no way the least, the lengthy formal procedures pertaining to the governance have just further compounded the issue. This is in the sense that, they (procedures) have transformed the scenario as being more conducive for carrying out corporate crimes. (2) Various surveys that have been carried out in the recent past point out to a highly disturbing fact. A substantial chunk of corporate crimes of the present-day era are those that have been perpetrated by the managements of huge business houses. At this juncture, it also has to be noted that the losses resulting from such acts are very huge, and thus exerting an adverse impact on the economy. (2) Seriousness of corporate crimes Corporate crime is more serious an issue that what it is actually considered to be, by many people. In this context, it needs to be