Question

Business ethics

This week we are covering the textbook topics found in Chapter 4, The Nature of Capitalism (beginning on page 117) and Chapter 5 Corporation (beginning on page 156).

For this week’s discussion you need to post your thoughts on the following questions.

Per our textbook, there are four key features of capitalism which include the existence of companies, the goal of making a profit, a competitive market, and private property ownership.

How do these four features of capitalism relate to you as an individual residing in the “land of free enterprise.?”

Do you feel that capitalism is fair across the board for small business owners as well as large corporate giants? Explain your thoughts.

Answer 1

Answer:-

Four features of capitalism:

1) Existence of organizations:

Each individual ready to open an enterprise of his decision can open it.

Individuals are free to follow any occupation as per their capacities and taste.

Organizations have the freedom to enter in an agreement.

Because of this sort of freedom numerous organizations exist in the capitalism.

2) Goal of making a profit

In capitalism want to win profit is the most significant explanation or incitement for the monetary exercises.

All the representatives or business people consistently hope to begin a business or occupation which can give them most extreme profit.

In capitalism profit is essential to such an extent that business people are prepared to face high challenges.

A bad situation for organizations in misfortune, in the capitalism.

Objective of making profits is the SOUL of capitalism or entrepreneur economy.

3) A competitive market

Capitalism has the attribute of free rivalry became business visionaries are in rivalry to get high profits.

Purchasers or clients are additionally in extraordinary rivalry in purchasing or buying merchandise and ventures.

In capitalism workforce or laborers and machines are additionally in rivalry in finishing a specific undertaking.

Along these lines, high want of acquiring profits, free section in the market, rivalry in purchasers and rivalry in laborers make capitalism profoundly competitive.

4) Private property ownership

Capitalism or an industrialist economy is consistently a foundation of private property.

Any person who is happy to work together can gather property and use it as indicated by his will.

Government likewise gives assurance against the privilege to property.

After the demise of the proprietor, property goes to his beneficiaries.

2) As a person in the land of free enterprises these four features of capitalism are connected as:

In capitalism I as an individual has the privilege to property secured by government.

I can go for any private property and take the ownership as indicated by the necessity.

Because of industrialist economy numerous organizations will be in the market in this way, I as an individual will see the presence of numerous organizations.

Because of number of organizations in the market level of rivalry will be high.

Because of the features of capitalism I as an individual will search for high profits gain and will perform exercises as needs be.

In this way, features of capitalism will be identified with me as market having various organizations, enthusiasm to gain greatest profit, elevated levels of rivalry and ownership rights to the property.

I will confront the difficulties of charming clients due the accessibility of options in the market because of presence of organizations and rivalry.

I as an individual should follow various procedures so as to make my items interesting so as to encourage deals and that gives high profits.

4) Capitalism is fair for little organizations just as enormous corporate giants in light of the fact that:

In capitalism, organizations get the significant levels of clients' fulfillment by giving items as indicated by their necessities and tastes.

This empowers the organizations to make high profits and deals boost.

Less obstruction of government rules and guidelines, makes the capitalism profoundly profitable and simple to work for the organizations.

In capitalism, individuals reserve the privilege to hold property and give it to the replacements.

This privilege empowers individuals to spare a piece of their pay that can be contributed to get more pay and more property for the replacements.

In this way, these are a few focuses which portrays the fairness of capitalism for little and enormous organizations in the free market. There might be more focuses yet these are a portion of the significant ones.

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