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Free Essay / Term Paper: capitalism in business
Capitalism is defined as an economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor. The concept of capitalism is based on the large-scale realization of a profit by acquiring goods for lower prices then one sells them (Robertson). The organizational culture of “for profit” organizations is impacted in many ways by capitalism. Capitalism is grounded on the concept of free enterprise. Free enterprise means that the government intervention in the economy should be restricted and that a free market will ultimately maximize consumer welfare. A free market is based on supply and demand, which will impact the values and behaviors of employees within an organization (Nozick). Capitalism as a way of thinking is fundamentally individualistic. Capitalism derives on the concept that all individuals are different. This concept could become the values, assumptions and norms of behavior within an organization. If individuals within an organization are out to pursue their....
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