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How story of standard oil illustrate limit of business power

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Reference no: EM13934146

Case - John D. Rockefeller and the Standard Oil Trust

Questions

1. With reference to the levels and spheres of corporate power discussed in the chapter, how did the power of Standard Oil change society? Was this power exercised in keeping with the social contract of Rockefeller's era?

2. How does the story of Standard Oil illustrate the limits of business power? Does it better illustrate the dominance theory or the pluralist theory discussed in the chapter?

3. Did Rockefeller himself ever act unethically? By the standards of his day? By those of today? How could he simultaneously be a devout Christian and a ruthless monopolist? Is there any contradiction between his personal and business ethics?

4. In the utilitarian sense of accomplishing the greatest good for the greatest number in society, was the Standard Oil Company a net plus or a minus? On balance, did the company meet its responsibilities to society?

5. Did strategies of Standard Oil encourage unethical behavior? Could Rockefeller's vision have been fulfilled using "nicer" tactics?

Reference no: EM13934146

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