Capitalism

An essay defining the economic theory of capitalism. Capitalism is an economic system in which the private sector controls and regulates the economy. This paper defines capitalism and explores its origins in economist Adam Smiths Wealth of Nations back in 1776.It also discusses critics of the system, the most influential being Karl Marx whose Marxism theory claimed that economic crises and capitalism are linked. Under ideal conditions, the growth of capitalism spurs friendly competition for consumers, ensuring that private enterprises will provide the best goods or the best services at the most reasonable prices.The reality, however, is that bigger corporations tend to monopolize their markets through practices other than friendly competition.Rather than concentrating on product development, many big manufacturers rely on marketing practices such as glitzy ad campaigns and celebrity endorsers to hook consumers.Corollary to this, many smaller businesses that provide comparable or even better products are not able to compete. This limited arena of competition also gives rise to an underclass of workers, many located overseas.Conglomerates such as Nike take advantage of cheap labor from countries like China to keep the prices of their shoes down.Such labor practices would be harder to enact in the United States, where the government is responsible for enforcing labor laws.

Corporate Strategy Essay Example | Topics and Well Written Essays - 3000 words - 2

Corporate Strategy - Essay Example It is a fully owned subsidiary of Sony Corporation of America. The music company operates globally and includes a roster inclusive of a broad range of artists, both international superstars and local artists (Sony Music Entertainment, 2011). Data revealed from the financial results of the company during the year 2010 suggest that there was a decrease in the operating revenue and sales figures by 6.7% in comparison to its performance of the previous year (y-o-y). The sales figure was hit during the year 2010 due to the decrease in the sale of devices and consumer products. However, it is also evident that the decrease in the sale of this segment was moderately offset by that of the segment of financial services of the company. Due to depreciation in the value of Yen against both US dollar and Euro, the sale of the Sony in Japan suffered the crisis. However, there was an increment in the operating profit of the company by 259.6 billion Yen (Sony News and Information, 2010). Sony Music has however effectively managed to come out of the crisis and during recent times, the company has ultimately surpassed Universal Music Group through market share in the overall US market. The market share of Sony Music in the overall album segment including albums equivalent to tracks stood at 29.35% as of the end of the week on April 24, 2011. According to Nielson SoundScan, this percentage figure is only a few points above that of the Universal Music Group that stood at 29.26% during the same period (Christman, 2011). The neck-to-neck percentage figure of the market share suggests that there prevails cutthroat competition in the music industry. Apart from the Universal Music Group, the biggest competitors of the Sony Music are EMI Group Limited and Warner Music Group Corp. In this industry, demand of the products or the music publications is driven by spending of the consumers. The companies’ profitability is dependent on promotion of new talent of music and also discovery of those talents. The companies in this industry operate through generation of revenue from its assets whose base is created by publications and recordings. Large companies in this industry such as that of Sony Music hold the advantage of both distribution and marketing. The smaller companies dwelling in this industry are generally referred to as ‘indies’ and these companies compete by concentrating on local artists and varieties of music (Christman, 2011). 2. Internal Resources and Culture Analysis 2.1 Financial Resources The music segment of Sony that comprises of operations of the US based Sony Music Entertainment (SME) and Sony Music Entertainment (Japan) Inc. (SMEJ) generated sales of 522.6 billion yen during the year 2010 that rose by 35% from the previous year’s performance. Simultaneously, the operating income also increased by 31.1% and rose to 36.5 billion yen from 27.8 billion yen during the past year of 2009. The increment figure of sales in the musi c segment has only been due to the fact that although the segment had begun its operation during the month of October 2008, the sales figure has been considered for the full year on a consolidated basis. Had the sales figure been considered otherwise, there would have been a decrement in sales by 5%. On the other hand, considering the operating inc

The epic of gilgamisg Essay Example | Topics and Well Written Essays - 250 words

The epic of gilgamisg - Essay Example Enkidu, on the other hand, is more courageous, and he prefers the wild ways of the countryside, and the company of animals. It is Enkidu who is more willing to take on the challenge of battle and heroic deeds, which actually makes him the appear to be the better choice for a great leader. Enkidu ends up being killed, however. In some way he is like a tragic hero who sacrifices himself for his friend. I thought it was weak of Gilgamesh to become so depressed after Enkidu’s death, because the whole point of being a great leader is that you have to learn to overcome sadness and hardships in life, so that you can concentrate on what is best for your people. The ending of the story shows Gilgamesh coming through that phase, and realizing what his responsibilities are. He is more realistic, and stronger, thanks to the difficult experience of wandering through the world without his friend and brother Enkidu. This kind of hero is less dramatic than Enkidu, but in the end it is the sober and sensible king who brings glory to his people, and so perhaps the message of the story is that it takes different kinds of hero to lead a great people. Bravery in battle is all very well, but the ability to rise up after life’s hard knocks is also a very valuable