It is opined by some individuals that, to survive cutthroat competition and earn a lot of money, businesses should take any step. I disagree with the following statement.
There are many reasons why businesses should not have the power to do anything they want. To begin with, this will cause social imbalance. In detail, big businesses who have power and links, use that to oppress small businesses. This will make very hard for new businesses to survive in the market and this may hamper the growth of middle-sized business organizations. Moreover, with the sole purpose of profit, these businesses might engage in illegal activities that may impact the environment for instance, businesses might exploit natural habitats which is prohibited by the government.
In addition, this can cause economic disparity in society. Wealthy businesses use their networks to flourish their empires, while this will make harder for local businesses to make their mark in the market thus, this causes the rich to become richer and poor to become poorer. Furthermore, this may increase the number of scams that could happen to people for example, companies can engage in false advertisement of their products which can attract a large number of consumers. In addition, this may make difficult to maintain harmony in society because of too many unsatisfied consumers.
In conclusion, I would like to reiterate that it may have detrimental effects on society and economy when businesses operate without any restrictions.