The free enterprise system is a debatable topic because it allows for competition in the business market, which may or may not work in everyones favor. A good example would be Bill Gates, in which the enterprise system worked successfully for him and helped him become a billionaire. In a free enterprise system, producers decide everything about their products or services, including their prices, ingredients, and what they choose to do with their profits. This also gives freedom to consumers to make their own economical choices. This has allowed businesses to engage in competition, and has been beneficial to many, especially Bill Gates. At just twenty years old, Bill Gates cofounded Microsoft with his childhood friend Paul Allen. He is now the richest man in the world with over $85.2 billion to his name. So why did Microsoft end up being way more successful than any computer program like it? The answer is because of the free enterprise system, and competition. Gate's product was considered new and innovative at the time, which made customers want to try it out. In a free enterprise society, the product that has the highest demand on the market will bring the most wealth for the entrepreneur, and provide them with more opportunities to continue growing their business. …show more content…
Gates believes in earning what you work for, and that's usually what you get with a free enterprise system. He also believes that if you are intelligent and know how to use your intelligence, you can reach your goals and targets. People that are against the free enterprise system argue that it can be unfair, but if you have the initiative to do better than your competitors, you will do just fine. Although this type of economy relies mostly on its citizens to run, the government has enforced regulations and laws on businesses and entrepreneurs to ensure all consumers safety and best
In a free enterprise system companies can become more successful by competing with their competitors in service and or pricing. Jennifer might have some fails but that is okay because she got started with her business using free enterprise. She has inspired kids all around the world to make there own fashion company. Even though her business didn't work as she had hoped she till stayed positive. She got in to buisness with a man named Andy and in The New York Times Jennifer states that "'I just felt like I
Today´s society is filled with people that only care about money and a person's profession when it comes to valuing an individual's life. Many people think that having a lot of money, college degrees, and working for a top notch business or company defines who they are, but what about the people who may not be successful in the world's view, but are happy because they are doing what they love to do ? Steve Jobs gave a commencement speech at Stanford University, in 2005, advising the graduates to follow their passions and not to listen to other people's advice about what is valuable or not. He also advised them not to waste their time living someone else’s life. Steve Jobs advocates for individuals to have the bravery to follow your
The laissez- faire policy refers to the lack of government intervention and regulation of the economy, the ideology lies in the belief that the government would not aid nor hinder businesses (“Business of America. Laissez-Faire Capitalism and Government”). Presidents and a vast number of Americans before the 20th century supported the absence of the government in the economy, since it promoted competition and economic growth. For instance, during the late 19th century the U.S economy prospered from the lack of government intervention, resulting in a 400 percent increase in the economy ("Laissez-Faire.”). Although, the laissez-faire policy expands the economy; a lack of government interference and regulation of the economy grants companies with an opportunity to take advantage. Consequently, it enables for companies to control an entire industry and increase prices that hinder the consumer and eliminate
It fits in modern life where people are free to work on any job of their choice. In addition, people can sell their goods and services at the prices they wish. The private citizens make self-centered economic decisions.
In 2009, African-American Harvard professor Henry Louis Gates, Jr. came home after a business trip in the middle of the night and found his door jammed shut. A neighbor saw that Gates and his driver were trying to open the door and called 9-1-1 to report a potential burglary to the police. Upon the police arriving, a confrontation ensued, leading to Gates being charged with disorderly conduct. After his arrest, Gates went to the media and claimed that he was a victim of racism. Even though many did not agree with Gates’ interpretation that the policeman’s actions were due to racism, the backlash came from an unexpected group: other African Americans. Although Gates went through a negative experience, many
Steve Jobs was a college dropouts with no big plans. No one would have guessed that him and two of his friends working in a garage would be the beginning of a revolution in the world of technology. The free enterprise system made it possible for Steve Jobs to revolutionize the world with Apple products.
Henry Louis Gates Jr. was born in 16th September, 1950, in West Virginia, Keyser. He studied and traveled globally before he became department head in African-American studies, at Harvard University. Henry Gates is an acclaimed critic and author who has disclosed a wide range of literary gems. He is an educator, an American literary critic, a writer, a scholar, as well as an editor. Henry was the first black person to be offered a fellowship by the Mellon Foundation. On top of that, he has received several honorary awards and degrees for his research, development, and teaching of academic institutions to learn the black culture (Dorman 135). Gates was chosen, in 2012, to offer the Jefferson Lecture. In addition, this was done for the purpose of acknowledging his eminent intellectual achievements in humanities. On the other hand, he has hosted many PBS television miseries inclusive of the travel and history program, Finding Your Roots (2012), the African American Lives, and many others. Henry sits on several arts, research and cultural institutions boards. He serves in Harvard University as the Alphonse Professor whereby he is W. E. B. director (Dorman136-137). This essay explores the history and achievement of Henry Louis Gates Jr.
The company was founded in 1975 by William Henry Gates III -- currently the chairman of Microsoft and the wealthiest man in the world -- when he called the makers of a new microcomputer, MITS, and asked to demonstrate the BASIC programming language for the system. After the demonstration, MITS agreed to distribute Altair BASIC so Bill Gates left Harvard University, moved to where MITS was located, and founded Microsoft in ...
We would not appreciate it if someone of authority directed to what kind of job we had to have or limit our opportunities to own businesses. Resulting in a limit of what type of products we could buy and at what price. Because of the free enterprise system, we are free to purchase items to our own desires and at the prices we choose. As businesses expand and begin to earn larger profits, the employees are better paid. This bigger income helps the certain individual to able to spend their money and live comfortably.
Microsoft is a computing software company. Microsoft was made and founded on April 4th 1975 by two young men who were captivated by computers. Their names were Bill Gates and Paul Allen. The homebase was in Redmond, Washington. Microsoft became one of the most famous and successful companies in the world. “Microsoft was one of the pioneers responsible for bringing the personal computer into the lives of millions of people.” (Musolf). The company has had such a great impact that now the name “Microsoft” is now virtually synonymous with computer software.
From being a college drop out to a wealthy entrepreneur, Steve Jobs was a famous inventor and CEO of one of the largest technology companies of the 21st century, Apple Inc. Jobs was a computer smart inventor who knew how to put his brains to good use but under the constraints of a boss there were limits put on his imagination. Being that he lived in a country of free enterprise, Jobs was able to go off and start his own business. The free enterprise system allows producers and consumers to make their own economic decisions. Where you want to work, what you want to sell, or what you want to buy for example.
This is the inverse of communism, which advances extraordinary government supported advantages to those without capital or the working class, as Karl Marx put it. As opposed to both private enterprise and communism, free enterprise builds up great laws and government approaches that treat the rich, center and poor the same. A few people may trust this is the framework we live under in the United States today that the law treats all the same. Such a presumption is mistaken, the U.S. business code has various laws which are composed particularly to treat individuals distinctively considering their riches. For instance, it is illegal for those with not as much as a specific measure of riches to be offered many of the best speculation openings.
Gates suggested that IBM “license it and charge a fee for the software” (Bill. Biography). Over the next three years, everything “exploded” and the stock price shot up. Gates and Allen incorporated Microsoft, with Gates as president and Chairman” (Bill. Biography). Microsoft was eventually “running thirty percent of the world’s software”. The IBM deal was possibly the biggest event in the history of Microsoft.
Microsoft was founded by Bill Gates and Paul Allen on April 4, 1975. Microsoft Corporation is an American multinational corporation headquartered in Redmond, Washington, that develops, manufactures, licenses, supports and sells computer software, consumer electronics and personal computers and services. Its best known software products are the Microsoft Windows line of operating systems, Microsoft Office office suite and Internet Explorer web browser. It is also one of the world's most valuable companies. Microsoft dominated the personal computer operating system market, until the early 2000 when Apple, Google, and Facebook came about. (Microsoft) This is when the company started to lose its credibility.
Microsoft is the leading and the largest Software Company in the world. Found by William Gates and Paul Allen in 1975 Microsoft has grown and become a multibillion company in only ten years. It all started with a great vision – “a computer on every desk and every home” - that seemed almost impossible at the time. Now Microsoft has over 44,000 employees in 60 countries, net income of $3.45 billion and revenue of 11.36 billion. Company dramatic growth and success was driven by development and marketing of operational systems and personal productivity applications software.