Read the Standard Oil case study beginning on page 75 of the textbook as well as pp. 145–150 of Exxon and the Control of Oil. Your instructor will designate whether you are to support the position of either the pluralist theory or dominance theory of business power. My position is dominance theory.
From the perspective of the theory which you have been assigned, consider the following prompts in your initial post:
- With reference to the seven levels of corporate power addressed in the text, how did the power of Standard Oil change society?
- Was the power exercised in keeping with the social contract of Rockefeller’s era?
- Does the story support the position of either the pluralist or dominance theory of business power?
Also in your post, state which theory (pluralist or dominance) you personally ascribe to. Did the arguments you read on this discussion topic change your perspective?
My position is dominance theory. (please put each of these questions in bold, and then answer for each question)
Requirements: 1-2 paragraphs | .doc file
Answer preview
manufactured through advanced technology. It also transformed society through technological power. As a result, the price shifted from 58 to 8 cents a gallon (Surdam, 2020). Political power is another level of corporate power that Standard Oil utilized to change society. The company made deals with highly competitive railroads to further its mission. This plan aimed at stabilizing the oil sector since railroads altered shipping rates to increase the oil demand. Standard Oil used legal power to minimize the impacts of the massive anti-trust suit against the firm by the federal government. The organization has most government officials by their side, which influenced the Supreme Court’s decision to strip the business for only six months (Surdam, 2020). Rockefeller utilized cultural powers through a complex personality and producing good quality oil to become an accomplished entrepreneur. Although environmental power enabled the company to produce oil, it also caused pollution Power over individuals was demonstrated by creating employment.
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