The purpose of this essay is to evaluate whether capitalism is a system that can be used to effectively manage organizations in modern society. The purpose is to evaluate the suitability of capitalism in business activities. The first two themes will discuss the reasons why capitalism is not the most appropriate management method and highlight more evolved versions of the system that may be more suitable, and finally the last theme will address the fact that capitalism could potentially serve the its original purpose. purpose of serving society, if the system were stripped of its most harmful qualities. The position taken is that, although some aspects of a capitalist management style are necessary to efficiently run an organization, capitalism in general is unlikely to survive through the evolution of contemporary society. For starters, capitalism creates wealth inequality and centralization of power that is inefficient and, in some cases, dangerous. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Boxwell and Dixon (1993) make clear that some forms of capitalism are based on the exploitation of the lower classes, who are unlikely to rebel because of their status to create wealth for the upper class; which may provide more jobs and greater profits in the short term, but have negative long-term consequences. A recent example of this would be the large company Amazon, which mistreats and overloads its employees by denying them breaks and forcing them to work in “robotic and frenetic conditions” (Sainato, 2018), in an attempt to improve productivity. This situation clearly exemplifies the negative consequences of a profit-driven system like capitalism which can indeed increase the net worth of companies like Amazon but only at the expense of its workers who do not have the power to rebel against such a large organization and risk lose their power. means of livelihood. However, the impact of the negative effects of capitalism is not limited to a part of society, but to society as a whole. A very real example of this would be the global financial crisis where credit institutions provided money to customers without checking their abilities to repay such sums, since their main concern was the amount of profit made and not the sustainability of the systems that they use to accumulate this wealth. While capitalism is not the only factor to blame for the crisis that has hit the world, there is enough evidence to suggest that inefficient accumulation and division of funds was a major factor contributing to the situation. Therefore, it can be established that in the past and even in today's society, businesses that embrace the wealth maximization element of capitalism above all other goals will not be efficient in the long run due to the class division within society and society. concentration of funds which could have harmful effects on society as a whole. (Include reference to Dobra, 2014) Due to its impersonal nature and lack of attention to social responsibility, capitalism may not be accepted in contemporary society in the same way it has been in the past. According to Fatehi and Baimuratov (2012), as humanity develops its thinking, it will begin to reevaluate the importance of human relationships, in which case the “obsessive pursuit of efficiency” associated with capitalism will not be so easily overlooked. This theory is slowly becoming evident in today's society as society is becoming more and more.
tags