What kind of People are Corporations?

[Dan Conner]

Attached is and interesting video explaining the origins of corporations and whether they have a socially responsible role in our society. What are your reactions?

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[Bob Jentges]

I had never thought of a corporation as a person, but after reviewing the video it seems to me they are a legal entity with some rights similar to persons based on the 14th Amendment and precedent Supreme Court cases dating back around a century.

Based on that, if a corporation has a "socially responsible role in our society" my off-the-cuff "reaction[s]" would be yes, to provide jobs for people, abide by the law, and pay taxes.

[Ben Willaert]

Not only do corporations have social responsibility, but it also makes good business sense.

The recent Free Press article on Kwik Trip shows this. Kwik Trip is becoming a very profitable business during an economic downturn because of its social responsibility. The corporation takes it upon itself to give back to customers and employees. This social responsibility gives their marketing department the dedication they need to be extremely aggressive. It is one thing for a marketing person to think up “see you next time” and another thing to get every employee to latch on to such a phrase.

Pizza Ranch is another example. They are quickly becoming a power house as well. A staple of Pizza Ranch is their charity nights where they allow fundraisers to make money by busing tables.

For all the grief Glen Taylor and Taylor Corp gets, it is astonishing how much has been given back to the community. Both Mankato and North Mankato have benefited over and over again from the generosity and social responsibility of Taylor Corp. I am glad to see they are finding ways to retool and be profitable again.