The main difference I see is that people are born into Democracies, but choose to join (and have the freedom to leave) companies.
This means that companies can operate on a shorter-term than countries - they can also act more aggressively, and take greater risks. If things go wrong, the people involved can simply up and leave the corporation.
In a nation, it's much more difficult to leave (it's still possible, but less so) and the decisions a nation makes effect the current population, and generations to follow. That's why we need a system like democracy - it dilutes power enough to ensure that outrageous behaviours are less likely to happen, and it allows a greater continuity between governments.
You might find the perfect dictator, capable of turning a country around, putting fine institutions into place and making a country profitable (the way a CEO might) but the problem is finding a new CEO after this one dies, or retires. It's much better to have a succession of weak and mediocre leaders, than it is to have all the good work of one strong leader undone by another equally strong, but less capable one.
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