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Profitability & knowledge in capitalistic society

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What is the relationship among money, labor costs, profitability and knowledge in the modern democratic capitalistic society? Compare and contrast this relationship with that of a socialized or communist society. How has this relationship impacted you personally? What suggestions or recommendations can you offer?

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The response addresses the queries posted in 801 words with references.

//The democratic capitalist society is getting more modern day by day. In this society, the business aspects are related to each other and working in close communion. In the first section of the discussion done in the given paper, the nature of the modern democratic capitalist society is defined to analyze the relationship of various business related terms in this society.//

Democratic capitalist society and the relation between variables:

The democratic capitalist society has great concern with the political and economic variables. A democratic capitalist society is the community which has the greatest chances of flourishing in linguistic diversity in both the social and political systems. In these societies, the conflicts related to language are more likely to be caused. These societies experience very low extent of the official and social control over their activities (Beer & Jacob, 1985). In the democratic capitalist society there is great conflict between capitalism and socialism. This affects the income of the employees, organizational profitability, labor cost and relationship.

All these variables are related to each other. With application of this knowledge, money is utilized by the workers. With the involvement of knowledge, the ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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