How to Write an A+ Comparison Essay on any Topic | …
How to Write an A+ Comparison Essay on any Topic
Although the individualistic and communitarian capitalist models may appear to be radically different, they are very similar when placed within the whole array of possible economic systems. Consider the variety of alternatives that appear in the economic system models illustration presented in Exhibit 1-6. The models at the top of the illustration represent maximum government ownership of capital and land, while the models at the bottomrepresent the absence of government. The models on the left-hand side exclude the profit motive, while the models on the right-hand side include the profitmotive. On the lower right-hand side, free enterprise capitalism represents the maximum individual freedom within a capitalist system, while state capitalismrepresents the minimum individual freedom. On the left-hand side, communism represents the maximum individual freedom for a socialist system, while statesocialism represents the least individual freedom. Notice that both communitarian capitalism and individualistic capitalism fall into the samecategory. Both systems include a mixture of state (i.e., government) regulation and private enterprise. In terms of thewhole scheme of possible economic systems, the two models are very close together. These two models mainly differ in terms of the amount of emphasisplaced on individual freedom. It is important to understand that while individual freedom represents the greatest strength of capitalism, it alsorepresents the greatest potential weakness. Finding the optimum mix of individual freedom and cooperation within a larger community is the goal of both systems.
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Managers in a communitarian company manage by promoting a bottom up approach referred to as employee empowerment. Selfdirected teams monitor their own performance with techniques such as statistical control charts. The manager facilitates, counsels and teaches to promotecontinuous improvement, job enhancement and teamwork. The system depends on trust, not fear. According to Deming, a leader does not judge or rank employees.The traditional individualistic approaches include management by objectives, merit ratings, incentive pay, quotas, standards and piecework systems. Demingargues that these tools, common in the individualistic organization, are fear oriented and destroy cooperation and teamwork. Of course, cooperation andteamwork provides the foundation of a communitarian organization.
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Fixed costs are defined as those costs that do not vary with changes in the activity level. Some horizontal costfunctions are presented in the top right panel of Exhibit 1-3 to illustrate the idea. However, this does not mean that fixed costs remain constant. If aproduction volume based measure is used as the activity, a cost that changes for some reason other than a change in production activity is considered fixed. Thissimply means that the cost is driven by a non-production volume related phenomenon. For example, property taxes are considered fixed in traditional costaccounting systems that are typically based on production volume related activities. However, property taxes change when the taxing authority changes thetax rate or reassesses the property. The idea to grasp is that the designation of a particular cost as fixed or variable can change when it is analyzed inrelation to a different activity. It is also important to understand that the notion of fixed and variable costs is a short run concept. All costs tend to bevariable in the long run.