Argument analysis -2

" The desire of corporations to maximise profits creates conflict of
interest with the welfare of the nation at large "
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The argument presented concludes rather abruptly what the consequences of
the desire of corporations to maximise profits might be. This is unwarranted
as there are many cases which can prove the contrary,ie, corporations which
go after maximum profits add to the general welfare of the nation at large.
Consider "Reliance " in India, which is one of the largest retailers in the
country. It is known for its seemingly absurd business ventures which plunge
market rates abysmally low, but eventually make up for the low rates with
maximum volume. Customers are drawn to the low rates and this forces
competitors to bring down rates and provide better service in order to
compete effectively with Reliance. Though Reliance is definitely after
maximizing profits , its ventures are such that they make the competing
business environment more customer friendly ,thus helping the nation in the
long run.
Another case in point is that of "Tata " Corporation in India. Known for
its adventurous streak in business , its business ventures have always been
helpful to the nation at large. Its recent acquisition of a steel
manufacturer in Europe will no doubt make sure its clout in the global steel
market increases , but it also makes the Indian presence stronger as a
result. In short, however profit oriented Tata might be , its success
creates a better brand image of the nation .
There are cases where the reverse is also true. Pharmaceutical corporations
around the world are known for their high prices and tight fistedness with
patents of life saving drugs. Their desire to maximize profits by not
sharing life saving information with the general public does harm the
nation's well being .
Considering that there are instances of selfish motives of corporations
helping the nation or otherwise , and also because we dont have conclusive
evidence about the relative numbers of such corporations , we cannot agree
completely with the argument .