Essay Example on Business Leaders: Making Smart Decisions for Societal Benefits

Introduction

The business institutions might not make the appropriate and smart decision which back up their communication recommendations thus affecting the response to the vulnerable. The relevant decisions help the institutions to achieve the best outcomes in society. Whenever leaders make appropriate decisions for their business, they tend to treat and appreciate everyone with all the respect they need. Proper decision making helps the management to provide opportunities to every individual in the society thus promoting equality and equity. Also, the businesses companies fail in responding to the vulnerable options as they cannot develop the baseline for effective communication. The baseline helps the institutions in measuring their success and progress in the society thus determining the impact they are making in people's lives. Through the benchmark, the institution will make appropriate decisions and adapt to the plans which will help in treating every individual in the society and workplace in a proper manner (Yunus 36-41). Therefore, promoting the option for the poor in the business organization calls for setting baselines and appropriate decision making thus helping in their achievement for the goals.

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Difference between Socialism and Capitalism

Capitalism is the economic system where trade, industries and the modes of productions tend to be controlled and owned by private corporations or individuals. The economy is also termed as the laissez-faire economy. In a capitalist economy, the government do not interfere in the financial affairs and the vital elements in this society are capital accumulation, private property, competitive market and the profit motive (Gough 206). Therefore, in a capitalistic economy, every person has the freedom of engaging in the economic activities of their choice.

On the other hand, socialism is an economy where the state manages, regulates and owns all the resources. In a socialist economy, every person has the right to acquire the benefits of the planned production. The funds are usually allocated through the centralized authority thus being referred to as the command economy. The market forces do not have the role of making decisions on how the prices of products and production factors will be allocated in an economy (Gough 209). Therefore, in socialism, the public welfare is the vital objective governing the distribution and production of the products and services in an economy.

How Popes Respond when asked to Evaluate the Capitalistic System and the Responsibilities which makes and Economic System to Claim Just

According to Tornielli and Giacomo, the pope stated that if capitalism was a system where the right to the economic sector was not set under the juridical framework that views it as an aspect of freedom and its focus as religious and ethical, then the reply was negative 5. Also, he stated that his answer was definite when capitalism was an economic system where there was recognition of the positive and fundamental roles of the market, businesses and the private property. He proceeded to state that his answer could be definite if there is accountability in the mode of production and the individuals' creativity in an economy.

The economic system claims just in society by ensuring there is an appropriate allocation of the limited resources in an economy. The resources should be accessed by every individual in an economy thus promoting a pleasant and comfortable life (Tornielli and Giacomo 5). The way goods and services are distributed in an economy should be just thus ensuring there are equity and equality to in the way they access the resources.

Organizations which Embrace Option for the Poor while Functioning as Capitalistic Businesses

Toms is an organization which is responsible for helping the needy with the purchase of their products since they are cheap and affordable. The company give outs shoes to the poor in the society while it is helping in the medical treatments, restoration of sight through the provision of the prescription glasses and the underwriting surgery. The Oxfam America is another organization which calls for the elimination of injustices which relates to the social issues, poverty and hunger (Yunus 36-41). The organization garners the voices of other people thus promoting change in the society through dealing with the hunger menace.

How Businesses or Corporations Operate if they want to Function as the Place of Justice

The businesses should embrace dignity for the human's life since as Catholic life is termed to be the sacred and the dignity of a person plays a vital role in maintaining an ethical vision for a community. The teaching of the Catholic also calls us to avoid wars by finding the appropriate ways of preventing conflict among the organization and society. The principle of the option for the vulnerable helps the businesses and organizations to be concerned with the way the vulnerable individuals are faring in the community. For example, in Matthew 25: 31-46, it instructs people to put the needs for the poor and the weak at the forefront, and this promotes justice among businesses. Also, the principal of solidarity will help in promoting justice through the promotion of oneness and unity since we are one family despite our economic, racial, national, ideological and the ethnic differences (Gough 197-203). Therefore, living as sisters' and brothers keepers will help promote justice in organizations.

Works Cited

Gough, Jamie. "The difference between local and national capitalism, and why local capitalisms differ from one another: A Marxist approach." Capital & Class 38.1 (2014): 197-210. Retrieved from http://eprints.whiterose.ac.uk/97616/9/Different%20local%20capitalisms%20Gough.pdf

Tornielli, Andrea, and Giacomo Galeazzi. This Economy Kills Pope Francis on Capitalism and Social Justice. Liturgical Press, 2015. 15. Retrieved from https://www.amazon.com/This-Economy-Kills-Francis-Capitalism/dp/0814647251

Yunus, Muhammad. Creating a world without poverty: Social business and the future of capitalism. Public Affairs, 2009. 36-41. Retrieved from https://www.globalurban.org/GUDMag08Vol4Iss2/Yunus.pdf