Capitalism vs. Socialism Essay Example | Topics and Well Written Essays - 1000 words

Capitalism vs. Socialism - Essay Example As the essay discusses capitalism increases competition whereas socialism discourages competition. Every country needs domestic food production for its own national security and independence. Domestic food production can be increased only with the help of competition. In nom-competing economies or in socialist countries, the absence of competition makes people lazy. The resources in this world are fixed whereas the population size is increasing. It is difficult for the increasing population to find better living standards if they adhere to a particular level of productivity. Socialism on the other hand does not believe much in competition. It works on certain impractical principles which may appear good at a glance. This discussion stresses that none of the socialistic world or communist countries succeeded in achieving the objectives of socialism which is the major reason why communism wiped off from Europe and on the verge of destruction in other parts of the world as well. Not only China, even Cuba has recently announced lot of economic reformation policies which were earlier black listed by these countries as the bi-products of capitalist economy. Capitalism utilizes the willpower of individuals, especially entrepreneurs, to foment economic activity. Capitalism is based on the assumption that individuals operate based on self interest; however, by doing so they not only help themselves, but also propel others towards economic success. (Socialism vs Capitalism). One of the major criticisms against capitalism is that it makes two types of citizen in a country; rich and poor. However, it should be noted that even after years of implementation of socialistic principles, countries like China, Cub a and Soviet Union failed to reduce the gap between the rich and poor in their territory. On the other hand, it should be noted that capitalist countries like America and Britain not only remain wealthy, but also succeeded in reducing the gap between t

A REVIEW OF PROVIDING EMPLOYEES BENEFITS IN SAMSUNG IN SOUTH KOREA Essay

A REVIEW OF PROVIDING EMPLOYEES BENEFITS IN SAMSUNG IN SOUTH KOREA - Essay Example Korean based firm that is headquartered in Suwon. Having been established in 1969 when it was referred to as Samsung Electric Industries, the company has embarked on product diversification an aspect that has made it to enjoy a competitive position in the electronic industry. Soon after it was established, the company embarked on acquiring other firms within the same industry with an objective of expanding its capital bases as well as putting in place effective marketing strategies. Some of the notable firms that Samsung acquired were Korea Semiconductor and Korea Telecommunication in 1974 and 1980 respectively. Investing in technology especially between 1995 and 2008 made the company to acquire a significant market share an aspect that made the company to effectively face off its key competitor Sony. In order to effectively meet the needs of its global market, the company diverted from consumer brands to enter in the filed of memory. This made it to be a key supplier of the NAND mem ory and A7 processors to the Apple Company. Recently, Samsung has indicated an expansive growth that has made it not only to incur high profits but also it has created a strong positive consumer product relationship. From the introduction and adoption of 5G technology to the launching of Galaxy S series, Samsung registered a profit of US $9.4 billion in the third quarter of 3013. In order to ensure that its operations are effectively varied out in the local and global market, Samsung maintains a workforce of 470,000 employees. Thus the need to keep them motivated as a way of enlacing the company profitability. 1.2 Research title, research question and research objectives A review of providing employees benefits in Samsung in South Korea Research question What is the impact of providing employees benefits in Samsung? Research objectives Analyzing the impact of employees benefit program on Samsung performance Outline the employees, benefits program Reviewing the implementation of prov iding employees benefits in Samsung Company What are the benefits of providing employees for the company? 1.3 Research rationale This research will use the studies done by various individuals who have done extensive coverage of the benefits offered by the Samsung Company in its effort to improve the productivity of its employees. 2 Literature review 2.1 Introduction Being an international company with an objective of expanding its customer bases and acquiring a wide market segment, Samsung has a strong linkage with its employees. Ranging from technical managers to the sales representative, the company has established a number of employee’s benefits that are aimed at motivating them thus improving their productivity. Through the establishment of Samsung’s welfare system, the company provides not only financial support to the employees, but also it provides health, leisure and education facilities to the employees. The establishment of an integrated benefit scheme, Samsu ng has maintained a strong workforce that has made it to put at bay it key competitors including Nokia and Apple. The part below reviews studies done by various people on the impact of providing employees benefits in Samsung. 2.2 High compensation In his studies on compensation and negotiation, Chingos (1985) support an increment of salaries not only as a way of compensating them but also as