Distinguish between totalitarianism, socialism, and democracy. What are the implications of each for internationalizing firms?

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29-03-2018
Business

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Distinguish between totalitarianism, socialism, and democracy. What are the implications of each for internationalizing firms?

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fbohdan fbohdan · Answer 1 · 2018-04-06T15:26:20+02:00

Democracy states that almost everyone can take part in the decisions of the company/country. Socialism is an economic concept that promotes social equality among people. Totalitarianism urges to regulate every part of one`s life. Usually, it aligns with a strong leader that can be called `a father of the nation`.

The businesses led in each country would differ depending on the political situation. For instance, in a totalitarian society, your business can be easily grasped for the needs of the country if the ruling party/leader sees a profit in it. Your rights as a businessman and wholly a human being are suppressed. If the firm leads a business in a social-oriented country, it possibly needs to give a part of the income to the needs of the socially-vulnerable categories of population. Thus, your factual income will be lowered.

In democratic countries, your business is to be secured, and you will be able to secure your rights as a businessman in a democratic law system.

Baraq Baraq · Answer 2 · 2022-06-01T15:43:52+02:00

Totalitarianism, socialism, and democracy are systems of governance. Totalitarianism is imposed while socialism and democracy are people oriented.

What is Totalitarianism?

Totalitarianism is a system of government that is centralized and dictatorial and requires complete subservience to the state.

What is socialism?

Socialism is a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production, as opposed to private ownership.

What is democracy?

Democracy is a system of government in which laws, policies, leadership, and major undertakings of a state or other polity are directly or indirectly decided by the "people."

What is the implication of these systems of government?

One (Totalitarianism) is imposed and therefore will be dictatorial while the other two systems (socialism and democracy) are people oriented and hence binds by the law.

Therefore, the implication is that one will be dictatorial while the latter two will be bound by law.

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