Introduction to American Business
Published 12 Jan 2017
Business is a crucial part in the development of societies and is by and large responsible for the economic growth of countries. Hence, when business ventures expand or financially grow in a certain region, it brings about relative effects to the economic status of that region. This in turn affects the capacity of the government or of the existing social institutions to provide for the needs of the citizens within the region. These provisions can manifest in many forms such as the increase in the quality of public and private health care, or an increase in the efficiency of the various social institutions and businesses in conducting their operations to the people in general. Thus, the impact of business, specifically its growth in a specific region, affects the standard of living of the inpiduals and their existing quality of life.
The decline in the performance of these business establishments also poses a series of effects to the standard and quality of life of people. In essence, it is enough to note that, although there may be little direct or immediate connection between business and the standard and quality of life, business nevertheless affects these two crucial factors in inpiduals. American business probably dates back way before the founding fathers have built the nation and the generations that followed. Since business can take form even in the simplest instances, business in America may have probably started since the time the native settlers of America. Eventually, commerce, specifically trade, developed among the American colonies of the past which primarily covered the inpidual groups during those times.
As years went on, the local commerce and the basic industries expanded which resulted to a wider scope among “business” establishments (Gabor, 2001). Among these early forms businesses during the period of the American colonies is the trade of the basic commodities such as wheat and other grains. The period of the Industrial revolution eventually shifted the process—the progress of commerce saw the development in the transactions. For instance, mass production became readily available with the rise in the machineries. Later on, the information and communication technology era paved the way for an even swifter means of transporting goods and completing business transactions even across continents.
American business of today has become relatively complex although the basic notions of client and provider are still present. The foundation of capitalism can be extracted from its rational philosophy, the concept of self-fulfillment or egoism, and the consideration for the rights of inpiduals (“The Capitalism Site,” 2005).
Essentially, capitalism is a form of a political structure or system that largely depends on its philosophical groundings. Further, capitalism is a system that is founded on the tenet of the rights of inpiduals exemplified by the fact that the capitalist needs the laborers or similar types thereof in order to make use of his or her capital or investment. In a capitalist society, the structure of the system contains the workers at the base that determine the next corresponding level in the system. It is argued that the roots of capitalism can be traced to the mercantilist scheme (Hooker, 1996).
When faced with an ethical dilemma, one question that one can ask oneself is: what is the best option in terms of practicability that must be taken. The idea of practicability can be determined or defined at least in terms of the immediate usefulness of the option in the given situation. For example, when one is faced with the situation of choosing between lying in order to secure the welfare of an employee or telling the truth in order to secure the welfare of the company, one should consider the option which has immediate usefulness, or perhaps the most useful option that has with it a larger positive effect. In this instance, one can choose to tell the truth in order to secure the welfare of the company which translates into securing the welfare of the rest of the employees. In essence, the perceived consequences of the persisting options in an ethical dilemma must be weighed against one another and against the context of the situation in order to weigh the most probable direction to take.
Otherwise, one might be lost on which option to take as dilemmas are quite complex to analyze. People take the entrepreneurial challenge for several reasons. These may include financial reasons for the most part, or perhaps people are seeking to enhance their skills in entrepreneurship or their personality. Since entrepreneurship is no easy task, it requires the proper use of critical skills and special abilities as well as the intellectual thinking capacity of the inpidual.
Entrepreneurship, hence, also serves as a training ground for the intellect where the mind is refined. Thus, a successful entrepreneur is the inpidual who is not only able to succeed in financial terms but one who is also able to acquire for oneself a more refined intellectual capacity and critical thinking and a better personality. Although monetary income can also serve as the basis for the success of the entrepreneur, the skills one is able to acquire are far beyond compare to wealth. Moreover, a successful entrepreneur is one who has achieved a significant status at least in the local region or area, or in the industry from which he or she belongs. Reputation in the world of entrepreneurship is one that is difficult to attain as it requires skills that are not easy to acquire.
Skills such as critical thinking and analysis are only two of these significant skills that the entrepreneur should acquire in order to be successful. Moreover, these skills are not achievable overnight—they require a considerable length of time in order to be acquired or to be mastered. It takes months, years, or even decades for the entrepreneur to be successful or, at the least, be able to obtain significant fraction in the business world. How to achieve these ends is not only a matter of time—it also requires a significant amount of determination and will-power from the inpidual. The ability to successfully navigate the cunning waters of entrepreneurship is just one side of the golden objective of being successful. Maintaining the status of being a successful entrepreneur is another thing, and it requires precision and refined skills all the more.
- The Capitalism Site. (2005). Retrieved August 1, 2007
- Gabor, A. (2001). The Evolution of the American Business Press and the Companies It Covers. Retrieved August 1, 2007
- Hooker, R. (1996). Capitalism. Retrieved August 1, 2007