Economics

1.

    According to the video, there is a clear exploration of the systematic variation between the distinctive capitalism of America and Britain and Japan and German. Both America and Britain fall in the Capitalist nations while Japan and German fall in the communitarian capitalism category. This system indicates the way in which both Japan and German nation embrace more integrative interrelations. This is seen in the management and labor strategy, government and business and also among the enterprises. However, the American system is more of individualistic entrepreneurship that is basically made up of the laissez-faire. Both Japan and the German nations are connected with high investment on the work training that enables the people to be knowledgeable of the work and thus they are able to gain work experiences that enhance them to offer quality services effectively and efficiently. Thus the employees are guaranteed of long-term employment in these nations. The Japanese system in specific is involved in the financing of each other’s companies by families which end up owning them. The German system, on the other hand, involves the financing of companies by banks which are regarded as both lenders and also investors. The American system is usually carried out by the entrepreneurs and absentees while the owners of the companies and the managers who hold a high position and with great power mutually finance the companies.

2.

    Each and every nation provides a structure of reference for the other nation. The culture as it basically refers to the way of doing things forms the basis for each and every nation to form their own beliefs, values, and strategies to follow within their operations.

 Thus it is important to note that culture is important as it determines the way each nation conducts itself. The common interest that exists in a nation makes corporation important while their values within that culture make it possible for the success of their operations. Thus culture forms the strength from which each nation draws strength from thus enabling the capitalism in that nation to be established, oriented and made a success.

3.

    There is an increased global challenge and this has greatly affected those nations that have inadequate as well as weak strategies. For instance nations such as the United States, is facing a lot of difficulties from the competitive environment. The competition has increased globally and thus leaving America in a state where they are facing fierce competition from the economies which have varying social systems, business strategies, and cultures. Thus it is evident that the United States requires formulating and also implementing better ways in which they will be in a position to be competent thus allowing them to succeed amongst their competitors. Each and every economy is unique as each one of them hold different strengths and weaknesses. The communitarian system adopted by the Japan and German nation has enabled them to be more productive and successful as compared to the American and Britain nation. It is thus clear that the communitarian system is far better than the individualistic system. Thus the United States companies should pioneer towards new and efficient strategies so that they can be able to meet their challenges of the new period of the global competition and global issues facing them. This will thus allow their capitalist economy to increase as the companies in these nations will be competent and thus successful.

 

References

    Smith, Hedrick. The Culture of Commerce. , 1994.