ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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I would agree that companies exist in their own right as long as the people who work for them and lead the company as a whole all share the same values and morals as one entity. I say this because then, in a way, a company would be a much larger version of a person. Companies also have the right to make their own decisions on typical business practices and routes they want to take as a whole. Some examples of these would be where they would like to source their materials, where they would like to manufacture their goods, where they would like to build their factories, and who they would like to conduct business with. Companies are some of the most important organizations in the world today because of how much of an impact they have on the world's economy. When you think about different countries, you oftentimes think about the various powerhouse companies that reside in the respective countries. For example, in the United States, you would think of Apple and Microsoft. Both of these companies work in areas all around the world, which I think is extremely important for the world. 

 

 

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Step 1: The role of a company in economic growth

       This is a thought-provoking discussion about companies acting as larger entities with their own set of values and morals when the people within the company share those principles. The perspective of a company, when unified by a shared mission and ethical framework, can be a force for the development of business practices. Companies' autonomy in making decisions about sourcing materials, manufacturing, and conducting business is a characteristic feature of capitalism and free-market economies. This allows them to adapt to market conditions, pursue innovation, and contribute to economic development.



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