Capitalism is a concept that originated from persistent activism by the people who believed in the idea of individual rights. The motivation behind the adoption of this system included the need of establishing a laissez-faire model and a system that informed by the objective laws. The expectations of capitalism model entail fostering the idea of private ownership that can easily accommodate fresh ideas and new firms. Capitalism is a system that focuses on fostering dynamism. In the economic perspective, the idea of capitalism entails ensuring freedom in the sphere of production that results to the free-market (Hirschman, 1977). The course has provided important insights regarding the development and significance of the idea of capitalism. The information is essential in understanding the development of one of the popular systems that govern the modern world. Furthermore, I have acknowledged the rationale of this concept and its implication.
The structure refers to the organization of procedures of production. This highlights the components that form models of production and how they interrelate with each other. The structure shows how authority or commands should follow down the system. Purpose of systems includes providing a blueprint for governance and production to avoid conflicts. Systems ensure that each protocol involved in the production is followed accordingly. Furthermore, the purpose of systems includes providing policies and legislation that govern particular procedures (Meadows & wright, 2008). Through the course, I have learned and appreciated the existence of structure and systems that provide guidelines or the protocols that govern all other entities. Having knowledge of such systems is essential because they affect the nature of doing business.
Designing of product and services includes formulating a design that offers elegant experience and solutions. In particular, ideal design of product and services should be capable of meeting customer’s present requirements and still be flexible to accommodate needs that may emerge in the future (Norman, 2013). Engineering of the proposed solutions results to approved systems design process. Through the course, I have developed an insight of the knowledge of design, which is important in designing competitive products and services.
Function decisions assumed within organizations includes important positions that are adopted in the organization to ensure that they continue functioning. Such decisions are mainly assumed during the time of crises to rescue the organization from collapsing. Functional decisions often present as unfair options, but opting for them may become obligatory (Silbiger, 2005). Through this course, I have learned that making functional decisions is often essential. This can help me in enhanced my managerial skills by empowering me with an effective strategy for overcoming threatening crises. Functional decisions may often appear as desperate actions, but they are necessary.
The processes of negotiation mainly involve tactical planning and preparation. Before engaging in negotiation, one needs to have calculative strategies, arguments and tactics that can guide him or her throughout the negotiation process. The negotiation processes must include, planning, engaging with others and closing negotiations. Challenges of negotiation include time pressure, an early consensus, delay tactics, rigid parties, last minute wavering, and aggressive habits among others (Wheeler, 2013). Arriving at a conclusion is challenging when one of the parties present one or more of the identified habits or perceptions. Through the course, I have learned the essential processes and challenges for negotiations, which is vital in improving my negotiation tactics. With the knowledge of the fundamentals of negotiations, I can effectively engage in successful negotiations. Furthermore, with the knowledge of the challenges of negotiations, I am aware of elements that I should be keen on, to succeed in negotiations.
References
Hirschman , A.O.(1977).The passions and the Interests :Political Argument for Capitalism Before its Triumph Princeton, NJ :Princeton University Press
Meadows , DH., & Wright , D. (2008). Thinking In Systems : A Primer. White River Junction , Vt: Chelsea Green Pub.
Norman , D. A. (2013). The Design of Everyday Things (Revised and expanded edition. ed). New York : Basic Books.
Silbiger , S. (2005). The Ten -Day MBA: A Step By - Step Guide To Mastering The Skills Taught In Americas Top Business Schools (3th ed.). New York , NY: Collins.
Wheeler, M. (2013). The Art of Negotiation :How To Improvise Agreement In A Chaotic world. New York : Simon & Schuster.
