Corporate power is a phrase which has at least two faces: one is the intellectual aspect, which we use to conceptualize the processes and functions of corporations and the corporate elite. The second is the various set of actions and events that corporations produce which allow us to reach the definition implied in the first point. It has been explained by Carroll that the actions which comprise corporate power can be thought of as a blending of persuasion and coercion.
[...] It can describe the fact that all large TNC's are organized and operated in a remarkably similar manner, it can describe the allocation of mobile financial capital, and it can describe something of a group consensus among the corporate elite. From these concepts come many logical connections to the expression and organization of corporate power. Simply stated, hegemony enforces the coercion of corporations. An everyday example of this is the banking industry. One has few options because most banks are owned by one of the four major banks: TD, CIBC, RBC, or BM. [...]
[...] It identifies the organization of corporate power by showing that capital is the driving force behind a corporation, and thus all functions and actions of a corporation revolve around it and are calibrated for its accumulation. Also, it shows the expression of corporate power by demonstrating that corporations in possession of large amounts of capital grow aggressively and expand their base so as to accumulate more capital in the future. As the capital dictates the growth and the interests of a corporation, it can be seen that capital has an enormous influence over the expression of corporate power in addition to its organization. [...]
[...] The fact that corporations are organized to constantly better themselves to a perceivably infinite degree is an instance where the corporation is persuaded to do so by the reward of profit, and in turn persuades others after having achieved its momentary goal through expansion, dominance in a marketplace, etc. In order to continue to express this power, the corporation must increase its size and its earnings, and thus the cycle repeats itself. Truly, WBP is a non-stop treadmill where one can only increase the pace, but never stop. [...]
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