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Strengths and weaknesses of current global economic systems

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a. Describe each system.

Capitalism essentially is built on the premise that nations prosper the most when individuals are allowed as much freedom as possible to make their own economic decisions. These decisions include what to buy, what to produce, what to pay for a product and how much to charge for a product. Pure capitalism rarely functions today since government regulation in the form of labor laws, anti-monopoly laws, and restrictions against price fixing are in place. There is also significant government control over quality and safety guidelines.

Communism or socialism would be the other main economic system. In this system there is little or no individual control over the economy. The government determines what will be produced, how much can/will be charged for goods and services, what job an individual will work at and how much he/she will be paid. Additionally the government usually controls most or all of the industries and utilities considered vital to national productivity. These would include electricity, communications, media, road construction, military etc. As with capitalism, there is really no true 100% communistic nation in the world because it would self-destruct. China tried pure communism in the decades following World War II and nearly brought the economy to a standstill as the bureaucracy tried to micro-manage every aspect of the economy. Today they use a very capitalistic economic system while retaining communism in politics and social engineering.

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a. Describe each system.

Capitalism essentially is built on the premise that nations prosper the most when individuals are allowed as much freedom as possible to make their own economic decisions. These decisions include what to buy, what to produce, what to pay for a product and how much to charge for a product. Pure capitalism rarely functions today since government regulation in the form of labor laws, anti-monopoly laws, and restrictions against price fixing are in place. There is also significant government control over quality and safety guidelines.

Communism or socialism would be the other main economic system. In this system there is little or no individual control over the economy. The government determines what will be produced, how much can/will be charged for goods and services, what job an individual will work at and how much he/she will be paid. Additionally the government usually controls most or all of the industries and utilities considered vital to national productivity. These would include electricity, communications, media, road construction, military etc. As with capitalism, there is really no true 100% communistic nation in the world because it would self-destruct. China tried pure communism in the decades following World War II and nearly brought the economy to a standstill as the bureaucracy tried to micro-manage every aspect of the economy. Today they use a very capitalistic economic system while retaining communism in politics and social engineering.

b. Indicate what the strengths and weaknesses are ...

Solution Summary

This is a discussion of current economic systems. Their strengths and weaknesses are evaluated. How are the people living under each system are affected? Finally, a look at the probable dominance of one particular type of economic system in the future. This solution contains over 1000 words of original text.

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Ford vs. Toyota: SWOT Analysis

You are to develop the fundamentals of strategic plans for the Ford Motor Company and the Toyota Motor Corporation, two giants of the automobile industry. You are to develop SWOT analyses and propose strategies for the two multinational enterprises. In doing so, it will be necessary to research, analyze, and compare both firms to understand better their current position and future plans to increase competitive advantage. Common problems facing each auto giant today are the current economy; the competition of the other auto firms; and the demand for a lower cost, more ecologically friendly, alternative fuel vehicle. Your research should include the following issues for both firms. Present your data in the form of a comparative table.

Issues:

Legal, Social and Economic Environments
Management Structure
Operational & Financial Issues
Analysis of Strategic Intent
Social and External Challenges
Current Manufacturing
Facilities & Distribution System
Market Demand & Demographics
Alternative Fuels & Propulsion Systems
Your document must evaluate, compare and contrast Ford's and Toyota's current position on these issues.

Respond to the following:

Take the perspective of Ford's Director of Strategic Planning to develop a full SWOT analysis of Ford, identifying and explaining at least five factors for each category (strengths, weaknesses, opportunities and threats) and propose a complete strategy (implementation, ramification and evaluation) which addresses one of Ford's weaknesses and what you would do about it.
Take the perspective of Toyota's Director of Strategic Planning to develop a full SWOT analysis of Toyota, identifying and explaining at least five factors for each category (strengths, weaknesses, opportunities and threats) and propose a complete strategy (implementation, ramification and evaluation) which addresses one of Toyota's weaknesses and what you would do about it.

Issues:
Economic Environments: Micro and Macro
- Management Structure
- Operational & Financial Issues
- Analysis of Strategic Intent
- Some External Challenges: socio-cultural; Political legal; technology
- Current Manufacturing
- Facilities & Distribution System
- Market Demand & Demographics
- Alternative Fuels & Propulsion Systems

Create a SWOT table for Ford

Strengths ( 5 factors)
Weakness ( 5 factors)
Opportunities (5 factors)
Threats ( 5 factors)

Choose one 1 weakness (no fuel vehicle issues) of Ford and propose a strategy (implementation - ramifications - Measurement and feedback) - 3 paragraphs will do it. use 1 paragraph but underline words such as weakness, recommendation, ramification, feedback measures

Create a SWOT table for Toyota

Strengths ( 5 factors)
Weakness ( 5 factors)
Opportunities (5 factors)
Threats ( 5 factors)

Choose one 1 weakness (no fuel vehicle issues) of Toyota and propose a strategy (implementation - ramifications - Measurement and feedback) 3 paragraphs will do it.
use 1 paragraph but underline words such as weakness, recommendation, ramification, feedback measures

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