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Transcript of Global Marketing Socialism 2
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GLOBAL MARKETING
TOPIC: SOCIALISM
PREPARED BY :PUTERI NURUL FARHANA ABD AZIZ
PREPARED FOR:
MADAM KHALILAH BT IBRAHIM
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Socialism Especially Influenced by
Adam Smith
Wealth of Nations, 1776Laissez Faire Economics
Government does not interfere with
business --“hands off”
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WHAT IS SOCIALISM?
Socialism: A political and economictheory that a country’s land, transport,
natural resources and chief industries
should be owned and control by thewhole community or by the state, andthe wealth should be equally
distributed.
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SOCIALISM
Socialism does not have a commonmeaning. Different people include differentthings in it. However the basic thinking is the
same, i.e.; the government should have control over
economic activities, and private ownershipof land and capital abolished or put under
tight restrictions.
Bridge between Capitalism andCommunism
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SOCIALISM DEFINITION
Dickinson defines it as,
Socialism is an economic organization of society, in which the material means of
production are owned by the whole community and operated by the organs,representative of, and responsible to the community, according to a general plan; all
members of the community are being entitle to have equal benefit from the resulting production .
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SOCIALISM TERMINOLOGY
The term Socialism or Socialist can refer toseveral related things:
An ideology or a group of ideologies,
a state that exists or has existed.
In Marxist theory:
the society that would succeed capitalism,
and then develop further into communism.
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HISTORICAL BACKGROUND
Industrial Revolutions
Threw thousands of handcraft workers into thelabor Market
Crowed slum were established around thefactories
Crimes, disease, hunger and misery were a wayof life
Industrial accident and no compensation forfamilies
No Rights of wage earner
Union were illegal
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SOCIALISM’S PRINCIPLES
Egalitarianism(equality)Humankind will be unified and cooperative
Wealth owned in common, used for the common
goodCapitalism exploits the very people who create
society’s wealth.
Moralism
Division of rich and poor is evil
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OWEN’S IDEOLOGY
People are formed by theirenvironment
Created better living conditionsBusinesspeople are not enough
concerned with their employees
Provided better hours, wages,benefits
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EXAMPLE OF COUNTRY
People's Republic of China (since October 1, 1949)
Republic of Cuba (since January 1, 1959)
Lao People's Democratic Republic (since
December 2, 1975) Socialist Republic of Vietnam (officially in reunified
Vietnam since July 2, 1976, but in the North since1954)
Democratic People's Republic of Korea (sinceSeptember 9, 1948
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SOCIALISM DEVELOPS AS A MOVEMENT TO DISPLACE CAPITALISM
Private individualsown and operatemeans of production
Private ownersprovide people with
goods and services Individual owners
make decisions
Government (representing people)owns and operatesmeans of production
Government
determines needs ofthe people
Government plansthe economy
CAPITALISM SOCIALISM
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TYPES OF SOCIALISM
Utopian Socialism
State Socialism
Christian SocialismAnarchism
Marxian Socialism
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Social Justice
Better allocation of resources
Improving productive efficiency
Social security and welfare
Economic stability
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ADVANTAGES OF SOCIALISM
In environments with plentiful resources,socialism provides all members with theirsurvival needs, creating a stable social
environment.Members that cannot participate
economically - due to disabilities, age, orperiods of poor health - can still impart
wisdom, emotional support and continuity ofexperience to the system.
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DISADVANTAGES
Since there is no culling and no economicadvantage to working harder, socialisticsystems provide no inherent incentive to
participate. This makes socialism internallyunstable.
Due to a lack of incentives, socialisticsystems tend not to be competitive, making
them externally unstable.
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SOCIALISM IS THE NEW WORLD ORDER – HOW WILL MARKETERS SURVIVE?
Marketers need to LIE in order to be successful.
L: LISTEN: Trust is built by understanding and actingupon the needs of the customer. To understand theneeds, you need to listen in.
I: INFLUENCE: After Listening and Learning about thecustomer needs, you need to act on it in an authenticmanner.
E: ENGAGE: If you constantly listen and learn from thecustomer AND influence her by acting in a transparent
and authentic manner, you will engaged with customer..Customers are the most profitable. They providefeedback and suggestions They are willing to pay ahigher price
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Misallocation of resources
Loss of economic freedom
Economic equality not achieved
Concentration of power in the state
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