Explain the concepts of capitalism and socialism

Reference no: EM132504151

Assignment: Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state whereas socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. (Shaw, William H. (2014). Business ethics (8th ed.). Boston, MA: Wadsworth, Cengage Learning). In this assignment, you will define the roles capitalism and socialism play along with the pros and cons of each.

In two to three (2-3) paragraphs:

• Briefly define, in your own words, the concepts of capitalism and socialism. Then list three pros and cons of each.

• Determine the considerations for and process of ethical business decision making to balance corporate and social responsibilities, and address moral, economic, and legal concerns.

• Analyze selected business situations using the predominant ethical theories, such as utilitarian, Kantian, and virtue ethics to guide ethical business decision making.

• Use technology and information resources to research issues in business ethics.

• Write clearly and concisely about business ethics using proper writing mechanics.

Reference no: EM132504151

Questions Cloud

Draw valid conclusions and articulate related outcomes : Distinguish and convey inductive and deductive patterns as appropriate, sequencing arguments and evidence logically to draw valid conclusions and articulate

F/615/1496 electronic circuits and devices assignment : F/615/1496 Electronic Circuits and Devices Assignment Help and Solution, Al Hussein Technical University - Assessment Writing Service

Calculate the best route for the graduate housing situation : Read the HBR case study Time Value of Money: The Buy Versus Rent Decision and calculate the best route for the graduate's housing situation, developing.

Explain at least five elements of critical thinking : Search the Internet, media, and find an example in which good critical thinking skills are being demonstrated by the author or speaker.

Explain the concepts of capitalism and socialism : Briefly define, in your own words, the concepts of capitalism and socialism. Then list three pros and cons of each. Determine the considerations for.

Create a mission or vision statement for organization : Describe the kind of entity you plan to establish by stating the service or services you propose to deliver and the kinds of clients or customers

Define organization competitors current trends of innovation : In order to make effective change within an organization, an analysis of the current organizational state is essential. In this assignment, you will be.

Should the government provide : Should the government provide? Analyze the effectiveness of the working thesis statement? What was the most challenging process?

How US immigration policy changed throughout to modern day : Explain how the policy has specifically changed (i.e. what criteria did an immigrant need to meet in order to enter/what purpose did US policy have)

User Account

All Pages