Essay On Capitalism And Capitalism - 1443 Words

In every country, there is always an economic system created to meet the needs of its people. Capitalism, as described by Adam Smith and communism as described by Karl Marx, are two types of these economic systems. Capitalism tries to meet the needs of the people allowing all its citizens to work to improve their lives by giving them control over the economy while communism gives the government total control of its industry and the economy and all people have equal social and economic status. These two types of economic systems each have a different effect on the economy of the nations and its people. Capitalism is the system in which we live in, where businesses are privately owned and operated for profit and where people can buy and†¦show more content†¦To get higher profits companies will need to seek out new ways of making a good more cheaply or look for a new way to manufacture its this competition that leads to the production of better goods at lower prices this is called Mass production. Also by removing all limitations and regulations, every ones self-interests would fuel the economy’s growth. While in government plays a small role in capitalism it allows its citizens some Individual freedom like Freedom of Speech, Freedom of Religion, Freedom of Choice, Freedom of Assembly and Freedom of the Press. Because of this Entrepreneurs have the ability can risk their own money in the market economy. Entrepreneurs are people take a risk by investing their money in a business venture. Communism has an opposite way of achieving the needs of its people like Adam Smiths Wealth of Nations Karl Marx a 9th-century philosopher and political economist addressed a wide range of political and social issues the Communist Manifesto. By having a Communist economy, the government can have total control of industry and keep production of goods from competing with one another and make everyone work for the good of the society. By doing this competition, unemployment, and poverty would be eliminated. All good and services would be distributed according to peoples needs as a result food and clothes would cost less. Through this system, Communist workers standard of living would be raised because many benefits can be providedShow MoreRelatedCapitalism Essay1175 Words   |  5 PagesCapitalism Throughout my duration in college, business has been my major area of concentration. Capitalism is the most central and consequential topic which has to do with business. The ideals of capitalism, over time, have faced much scrutiny. Many great minds within the past two centuries have discredited capitalism, for the virtues of socialism and the whole of society. It is my intent to put forth a moral justification of the ideals behind capitalism. Ayn Rand said â€Å"TheRead More Capitalism Essay1087 Words   |  5 Pages By definition, Capitalism is an economic system controlled chiefly by individuals and private companies instead of by the government. In this system, individuals and companies own and direct most of the resources used to produce goods and services, including land and other natural resources labor, and â€Å"capital†. â€Å"Capital† includes factories and equipment and sometimes the money used in businesses (Friedman, 5). Capitalism stresses private economic decisions. People are free to decide how theyRead MoreEssay on The Rise of Capitalism955 Words   |  4 Pagessystem was called capitalism. Capitalism is an economic system that was created by combining many parts of many other economic systems. Capitalism was based on the idea that private individuals, and business firms would carry out all factors of production and trade. They would also control prices and markets on their own. Mercantilism was the precursor to Capitalism although each of them different in many ways. Mercantilism was for the wealth of the state, while the motive of capitalism was for the wealthRead MoreCapitalism in America Essay1019 Words   |  5 PagesClass affects people no matter who the person is and the perspective view of class is mostly controlled by the media. In the book Rereading America, there are two essays, Class in America: Gregory Mantsios, Framing Class vicarious living and Conscious Consumption: Diana Kenda ll, and, the film Capitalism: A Love story: Michael Moore. Capitalism is an economic system that promotes free trade and private enterprise and that depends upon the hierarchical class structure, shapes, how others see us in variousRead MoreCapitalism Essay2248 Words   |  9 Pagesfulfillment of their needs, humans rely on the help of others. As Marx says in The German Ideology, â€Å"there exists a materialistic connection of men with one another, which is determined by their needs and their mode of production† (157). In modern capitalism people are connected through a complex global system of trade. This system of production and consumption affects the way people view each other in general. When one participates in the giant domain of production and consumption which generates genericRead MoreEssay on Feudalism and Capitalism3836 Words   |  16 PagesFeudalism and Capitalism Economic processes are those involving the production and distribution of goods and services. However, they do not alone determine this production and distribution. There is an interrelationship of economic, cultural, environmental, and political processes that all help to shape each other. Nothing that we do can be defined as a single process, for it is the interaction itself that helps to produce the final results that we observe. To understand this more fullyRead More Varieties of Capitalism Essay2378 Words   |  10 Pagesdiverging across different nations has become controversial. Various literatures on comparative institutional studies has been developed, in which the Varieties of Capitalism approach by Hall and Soskice (2001) is one of the most significant concepts that is being widely discussed. According to Hall and Thelen (2005), the ‘varieties of capitalism’ is a firm-centered approach where firm is placed as a key actor and is being considered relation al. It emphasizes the concept of institutional complementaritiesRead More Communism vs Capitalism Essay849 Words   |  4 Pages Capitalism vs. Communism nbsp;nbsp;nbsp;nbsp;nbsp;Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operatesRead MoreEssay A Comparison of Capitalism and Marxism637 Words   |  3 PagesA Comparison of Capitalism and Marxism This essay will compare the economic principles of capitalism and communism by giving brief historical background on both and describing the two. I will begin with the father of economy, Adam Smith, and finish with the theories of Karl Marx. Adam Smith believed that if everyone behaves selfishly we are doing what is best for the economy of our society. This is what is known as â€Å"enlightened selfishness.† â€Å"Enlightened selfishness† is one of the main elementsRead MoreCapitalism in Early America Essay1330 Words   |  6 PagesCapitalism in Early America Many different people have defined capitalism over the years. It has been defined as a political entity, economic entity and as a social entity. Max Weber and Karl Marx argue different theories concerning the emergence of capitalism. While it is unsure whether the economic system emerged first or the cultural values and ideology that allowed for the formation of capitalism emerged first, one thing is for certain, capitalism is tied to cultural values and ideology

Persuasive Essay On Drug Testing - 927 Words

Recently, there has been a claim that people should be forced to take a drug test before receiving financial assistance from the government. In the United States, some people across the country are failing drug tests. This means that they are tested for having illegal drugs. This is bad for the country because this could lead to death and being arrested. So the government is seeking to make these people have immediate drug tests so they can â€Å"crack† this problem open. In the state of Tennessee, they passed a law to test people for drugs. As stated in Text 2, â€Å"Six months after rolling out a controversial law to test people for drugs who are applying for public benefits, only 37 of more than 16,000 applicants have tested positive for†¦show more content†¦In Text 3, welfare became more useful and popular to American society. As stated in Text 3, â€Å"Welfare is a social contract between the people in need and those providing for them.† (Text 3, lines 21-22). What does welfare have to do with drug tests? Drug tests would ensure that responsibility becomes upheld by those receiving assistance. This gives a connection to welfare and drug tests. A second connection is that people take drug tests in order to meet the standards for jobs or companies. It would also be given because it was the law. There are tons of people who must take drug tests like athletes, colleges, even the military. According to Dr. Pollack of the Substanc e Abuse Policy Research Program, he quotes, â€Å"Psychiatric disorders (most notably depression and PTSD) are more prevalent amongst welfare recipients than drug use, though he also reports that 20% of welfare recipients admit to recent use of illicit drugs,† (Text 3, lines 35-38). Mandatory drug tests could also provide medical care to people who are ill. As stated in Text 3, â€Å"Mandatory testing would not only hold welfare recipients to the same standard as everybody else, but it also would perform a critical service as a means of assistance for those suffering from psychiatric disorders, medical disorders, and/or abuse problems,† (Text 3, lines 41-44). Drug tests are doing very good in the state of Utah. According to the title of Text 4, Utah’s drug testing had saved more thanShow MoreRelatedPersuasive essay against animal testing764 Words   |  4 Pagesï » ¿Persuasive Essay against Animal Testing Abraham Lincoln once said, â€Å"I am in favour of animal rights as well as human rights. That is the way of a whole human being.†Ã‚  I couldn’t agree more with this statement as I do not believe that animal testing is right and I am totally against it. 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Magic Dust in China

Question: Describe the Methodology, Data Finding, Marketing strategy and pricing strategy of magic dust in China? Answer: Problem statement Magic Dust decided to enter China but there are plenty of complications associated so that they can survive in the new market. Few of the problems that need to be sorted so that the company can settle in the new country are as follows: 1. Marketing strategy to attract the potential clients. 2. Organizational structure so that the employees in the organization are aware of their reporting authority and this will help the work to flow appropriately to the client. 3. Control system so that the management is aware of the quality the employees are delivering to the client and at the same time, the employees shouldnt compromise on the quality that is being served to the clients. Introduction The management of Magic Dust has decided to enter China through Joint Venture but that doesnt ensure that the organization will be a success in Chinese market. An appropriate marketing strategy should be implemented so that potential target market is aware of the presence of Magic dust. This will help more and more customers to opt for Magic Dust over the other companies which are present in the market. The organizational structure should be in place and a new organizational structure will have be decided as the organizational structure in the parent country will not be considered to be appropriate in the host country. Appropriate control systems will be put in place so that the management of the organization can track the various activities that are undertaken by the employees and this will also help the organization to satisfy the clients. It is very important to deliver the quality that the client is expecting so that they can refer the company to other clients who may be willing to develop their own website. Initially, marketing, organizational structure and also the control systems may seem to be a difficult task but with time, the management and the employees will be in sync with that of each other. Methodology The complete data for the completion of project is based on secondary data that was collected. The secondary data was collected to understand the attitude of people towards the website development company. A lot of research on the existing website development companies so that Magic Dust can follow the same rather than trying something new which may fail. Journal, newspaper articles, internet articles and websites have been used to complete this research. Data Findings Magic Dust needs to understand that the Chinese market is different than the Australian market and hence, the strategies that will be used by the management to attract the Chinese customers will also be different than that of each other. The organizational structure, control systems, pricing strategy and also the marketing strategy in China needs to be changed so that the organization can reach the right people. This will help the organization to have good hold over the business. Few of the strategies that will be used by Magic Dust so that they can survive in the competitive market are described below. Marketing strategy of Magic Dust in China It is very important for the organization to look for ways by which they can attract the potential customers rather than that of believing that the customers will come automatically to them. Few of the marketing strategies that will be used by Magic Dust in Chinese market so that they can attract the customers over there are described below. Developing websites on Joomla and Wordpress was a trend in the past but that is not the case anymore. The usage of Joomla and Wordpress technology is so easy that business themselves are doing it (How to make a website, 2013). Magic Dust should advertise technologies like Drupal and Zend so that the customers can be rest assured that these technologies will make the website look better. Drupal and Zend are technologies that are more oriented towards the security of the website (Madhavaram 2014). These technologies are popular so Magic Dust can offer these services to the customers at an affordable price and also the turnaround time should be lesser than what the other website development companies offer. This company can have readymade templates so that the customers can come and check on the template that they like and implement the same on their website. The customers in China will be very cost conscious and hence, Magic Dust will have to look for ways by which the cost of service offering can be reduced (Shaw 2012). The organization should have at least 8-9 sales professionals. This will help the organization to perform better. The sales professionals should keep a track of the market regarding the people who are willing to develop their website. The sales executives should meet up with the businesses and explain them the advantages of having a website. Most of the businesses may not be even having a website so it is the responsibility of the sales professionals to persuade the business managers to have a website so that their business can flourish (Constantin 2011). All the communication between the client and the sales executive should be documented so that the business can deliver the clients expectation. Apart from that, the sales executives should also be in touch with the old clients. The old clients will help the sales team with references of their friends and relatives who may be willing to develop their own website (Hui 2012). The Chinese market for the internet is growing and hence, Ma gic Dust can establish itself. The data below will explain the growing market of internet users. (Them 2012) The presence of Magic Dust in the Chinese market should be known to the potential customers. If the potential customers arent aware of the presence of the presence of Magic Dust in the Chinese market then the customers may not even think of being with Magic Dust. Magic Dust is a very new company in the Chinese market and hence, they will have to put in efforts to make the potential market aware of what they can do and what they have done (Akramov 2013). In the advertisements, Magic Dust should place the achievements that the company has. The company can talk about their presence in Australia. They can also include the name of few of the customers who were very satisfied with the work delivered (Dolgui 2010). Magic Dust can place banners near the business parks wherein plenty of company are already present. This will help the businesses to be aware of the presence of a website development company called Magic Dust. The sales executive can also check on the internet regarding the businesses that are present on the internet and the businesses which doesnt have their website. The sales executives can also check the goodness of the websites which are present on the internet. Accordingly, the sales executives can visit the business owners and inform them about the improvement that can be made in their website (Sreedhar 2014). Pricing strategy of Magic Dust The pricing strategy of Magic dust should be planned in advance so that the company can be rest assured that they are paying for what they are getting. If the customers feel that they are charged more than what they are receiving then they may look for some other service. Few of the considerations that would help the company to have a good pricing strategy are discussed below. To initially attract the customer, costing needs to be considered. It is very important to offer services at a low price so that the quality of the service can be known to the customers. Once Magic Dust establishes itself as a company that can be trusted, they can increase the pricing. The pricing of the company needs to be changed frequently so that the customers are happy (Wind 2013). If a customer is willing to buy a readily available template then the pricing would be different than that of the website wherein the client wants the new website to be developed completely. Similarly, the first time client can be offered a low price while if the customer comes for the second time then the price can be increased a bit, as compared to the first time. The second time client will be aware of the quality that they can expect and hence, they will be willing to pay more (Tiller 2012). It is very important for the organization to track the fixed cost that would be associated with producing the website. Magic Dust will have to charge the client on the basis of graphic designer, web developer and also the web designers salary. If the website is small then only three people will be working on the website but if the number of pages in the website is high then the number of web developers and web designers will increase and hence, accordingly, the price of developing a website will also increase or reduce (Mohr 2001). The competition in the business will also have to be considered. If the number of website development companies in China is very high then the pricing of Magic Dust cannot be raised after a certain limit. It is highly recommended that Magic Dust should price their services as per their international market pricing because website development business can be outsourced in international market as well and hence, it is highly recommended to have competitive pricing (Gullstrand 2014). Initially Magic Dust will look for ways by which they can attract the potential customers rather than that of revenue generation or profit maximization. Initially the pricing strategy of the company should be such that the customers are excited to try their services rather than that of giving a second thought over the price at which the services are offered. During the initial stages, the customer can also be offered a good discount so that they are willing to try their luck with the company (Wittman 2014). Magic Dust can charge the customer only for the cost that they are incurring. The company can decide on the cost of the service based on the rent that they are paying, the salary of developers and designers and other expenses. This will help the company to avoid losses and at the same time, they customer will also get the best possible thing at a cheaper price. This will help the company to build a customer base (Ellickson 2008). Organizational structure Magic Dust should have a Functional structure so that the tasks of each team can be assigned and completed in accordance with the requirements of the clients. A detailed description of the structure that will be used in Magic Dust is described below. The organization will start with a team for the graphic designers. The team of graphic designer will work together and they will all be reported to the graphic design lead. The second team will be web developers team. The web developers will be reporting to senior tech lead in the organization. In the web developers team, there will be plenty of sub-teams like the Drupal team, Zend team and the codeignitor team. This will help the organization to specialize in the technologies that they will be offering to the customers. Each team will be have being a tech lead and all teach leads which be reporting to senior tech lead. The third team in the organization would consist of web designers (Pimentel 2010). The web designers in the organization will be reporting to web designer team leader. All the team leaders and the tech leaders in the organization will be reporting to project manager. The project manager will assign tasks to the team depending on the requirement of the client. The cli ent co-ordination will be taken care by the delivery head. This will help the organization to be better and competitive. The delivery head will report to the management regarding the status of the project and also the problem areas so that the structure of the organization can be changed accordingly (Verle 2014). The functional structure will be beneficial for the organization as this will help the employees in the organization to co-ordinate and at the same time, the learning will be more. The managers will also be specialized in designing and development and hence, it becomes easy for the team to improve their efficiency. The duplication of efforts will be reduced. If a client was Jquery to be implemented in their page then the developers will be aware if some other client has asked for the same in the past. If yes then the same will be implemented again and hence, the repetitive nature of work will be reduced (Rust 2004). Training is one of the biggest advantages that the team members can get. Based on the requirements of the project, the team members can be trained on various technologies. The training responsibility will be taken care by the team leads and the tech leads in the organization and hence, the trainers will also be immediately available to meet with the requirements of the cl ient. Team work will be easily achieved (Saeed 2012). Control systems at Magic Dust It is very important for Magic Dust to have appropriate controls in place as this will help the organization to be better. Without the control systems, it is merely impossible for the organization to deliver the results as expected by the client. Few of the control systems that will be in place at Magic Dust are described below. It is very important for the organization to have IT systems. It is the responsibility of the various teams at Magic Dust to have appropriate systems so that they can update the status of the project on the portal. The portal should be accessible to the client so that the client can be aware of what is expected from the team. The team can update the work that has been done. This will help the client, team and the management to be connected with each other (Hamed 2010). The organization should also have a control system in place to keep a track on the financial status of the organization. An appropriate tool for measuring the financial ratios of the company should be in place. If the financial ratios goes up or down than that of the required ratio then an indication needs to be sent to the finance team and also to the management so that appropriate actions can be taken at the earliest (Pondeville 2013). Direct supervision is also one of the controls that the management should have over the employees in the organization. The team leaders in the organization should supervise the work that is delivered. This will help the employees to perform better. The team leaders in the organization should know how to control and let the employees have their space so that the team members arent frustrated with the excess control over them (Mamoon 2013). Conclusion Magic Dust is completely new in the China market and hence, they should try and understand the market that will be willing to buy services from them. China is lot of business opportunities but the number of competitors in the Chinese market is also very high (Doing Business in China Guide 2013). Appropriate marketing strategies will have to be implemented so that the potential market is attracted to be associated with Magic Dust. The pricing strategy should also be planned so that the potential customers dont feel that they can get the same service at a cheaper price. References Akramov, T, 2013, MarketingStrategy: Concepts And Implication, European Journal of business and economics, Vol. 4, no. 1, pp. 109-117 Constantin, P, 2011, The CR-MarketingStrategy, Odius University, Vol. 1, no. 1, pp. 1769-1771 Dolgui, A, 2010, Pricingstrategiesand models, Annual Reviews in Control, Vol. 34, no. 1, pp. 101-110 Ellickson, P, 2008, Repositioning dynamics andpricingstrategy, Journal of marketing research, vol. 49, no. 6, pp. 750-772 Gullstrand, J, 2014, Markups and export-pricingstrategies, Review of World Economics, Vol. 150, no. 2, pp. 221-239 Hamed, A, 2010, ManagementControlSystem, Interdisciplinary Journal of Contemporary Research in Business, Vol. 2, no. 6, pp. 193-206 Hui. 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