Final answer:
The combined chair/CEO position is under scrutiny for creating a risk of conflict of interest, undermining corporate governance and accountability, and leading to potential corruption and inefficiencies within companies.
Step-by-step explanation:
The criticism of the combined chair/CEO position in companies primarily revolves around the issues of conflict of interest, potential corruption, and inefficiencies. When one individual holds both roles, there is a worry that it can lead to a concentration of power that may not always be in the best interest of the company or its stakeholders.
With the globalization of the economy, the intertwining of corporate and political spheres can be observed, as seen in the relationship between the oil industry and top personnel in the George W. Bush administration. Furthermore, the size and complexity of executive offices, like that of the president, have grown to such an extent that it poises challenges in overseeing unelected officials and cabinet secretaries, increasing the risk of a conflict of interest.
Moreover, societal patterns of discrimination such as the glass ceiling affect the dynamics within the highest levels of management, as they limit diversity and inclusivity. Additionally, certain industry practices like the mergers in the U.S. airline industry have raised alarms about their effect on competition. Overall, the issues associated with having a combined chair and CEO are complex and wide-reaching, affecting not just the internal mechanics of an organization but also external perceptions and the broader market environment.