Capitalism: Harnessing Energy to Address Society's Challenges - Essay Sample

Introduction

Most of the times, capitalism is the drive towards human wants and needs for creating various opportunities for the benefit of some. Although there is a limited definition of entrepreneurship has stopped the industry from harnessing all its energy to address the broader challenges facing society. The possibilities were there but were ignored all along. Businesses operating as companies, not as benevolent organizations, are the most effective force to resolve the urgent problems that we face. Now is the time for a new vision of capitalism; the needs of society are large and growing, while consumers, workers and a new generation of youth are demanding the company to step up (Porter and Kramer, 2011).

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According to Porter and Kramer (2011), shared value poses an existential threat to enabling the next phase of innovation and growth for businesses. It will also try to connect success in business and community performance in ways lost in an era of rigid governance techniques, narrow-term thinking, and intensifying divisions among the institutions of society. Shared value relies on both the right kind of revenue for the company's profits that generate benefits to the community rather than diminishing them. Capital markets will undoubtedly continue to threaten firms to produce short-term gains, and individual firms will continue making wealth at the expense of the needs of society.

The development of mutual meaning reflects a broader connection of the unseen hand of Adam Smith. It opens the pin factory gate to a wider variety of stimuli. To build economic profit by the production of social wealth is neither philanthropy nor self-interested conduct. When both businesses sought mutual purpose personally linked to their own company, the general interests of humanity would be protected. The company will achieve legitimacy in the eyes of the public members (Porter and Kramer, 2011)

SWOT Analysis

A SWOT review is a method used to assess and identify the Abilities, Vulnerabilities, Chances and Risks-SWOT. SWOT analyzes can be extended within a single department to a whole company or organization, or individual projects. SWOT analyzes are most frequently used at the administrative level to evaluate how effectively a company is associated with its development paths and performance goals, or they can be used to assess whether a specific project such as an online advertising campaign (Berry, 2020).

Strengths- this item, as you've noticed, discusses issues your business or organization is doing exceptionally well. It may be anything elusive, like the brand values of the company or something more clearly described as the distinctive sales proposition of a specific product line. It may be the men, the real human capital, too: good leadership or an excellent team of engineers.

Weaknesses-once you've worked out your abilities, focusing the vital self-awareness on your shortcomings is time. What is it that keeps up your company or project? This dimension can include operational problems such as skills shortages and financial or budgetary constraints.

Opportunity- when a company can't keep up with the number of leads, the marketing team is producing? That is a possibility. Will the company create an ambitious creative concept that can reach new markets or demographics? That's one more shot.

Threats- very much that poses a danger either to your own business or to its probability of performance or production.

Amazon is an excellent example of a company that has established itself and maintained the top-notch services in the entire globe. The company found its strengths in terms of services provided. Then identified several weaknesses and determined a means to make them better. Opportunity is what enables one to move forward by having an adequate plan. Lastly, they identified threats that they were facing and had to outdo the risks to become the best.

References

Berry, T (2020). 6 SWOT Analysis Examples. Retrieved from https://articles.bplans.com/swot-analysis-examples/

Porter and Kramer (2011). Creating Shared Value. Retrieved from hbr.org