Why do corporations and businesses need cheap labor to make a profit while paying executives millions.

No one is entitled to cheap labor. If you need to to pay your workers minimum wage to make a profit, then you don't have a viable business plan.

As someone here on DU once said, "If your employer pays you minimum wage or less, he's telling you he would pay you even less if the law allowed it."

And the slashing of pensions and even matching benefits, in some cases. For young workers today, many are expected to work part-time so employers can avoid provide benefits.

As has been pointed out many times, it used to be that a "milk man" could support his entire family and own a home based on his job alone back in the 1950s. I'm not suggesting that was the "ideal" or we need to go back to those days, but we've lost so much ground as employees that it's disgusting.

the accumulation of wealth.
Many might argue that corruption goes hand in hand with that accumulation and as such, not really corruption.
It is not hard work necessarily, but it is definitely built on connection. The ensuing coagulation of power is inevitable. You cannot rule without something to rule.
The choice, early on, is to chose the mentality of rule or the do unto others motif.
Here we are.