argue whether the free enterprise system was necessary for steve job to make an impact on the business world ...[Show More]
4 years ago
The Impact of
Free-market System on the Business World
Without a question, the free-market system was instrumental in enabling
Steve Jobs to have a substantial influence on the business world. The
principles of private control, competition, and the desire of riches form the
cornerstone of the open business system, also referred to as capitalism (Gerstle, 2022). This
framework allows businesspeople like Steve Jobs the freedom to develop and
produce without excessive intervention from the government, as well as the
capacity to flourish by contending in the market.
In 1976, Steve Jobs, a brilliant businesswoman and innovator, co-founded
Apple Inc. Apple grew to become one of the most successful and valuable
enterprises in the world under his leadership. Jobs' success was largely
attributable to his capacity to develop innovative products that satisfied
customer wants and desires. Because of the free market system, which allowed
him to operate his business without excessive restrictions or interference from
the government, he was able to accomplish this (Sciabarra,
2020).
Entrepreneurs like Jobs can take chances and pursue their business
concepts in an open market system. This suggests that they are free to create
and produce products that may not have been feasible in the past. The free
market system also stimulates innovation and success by allowing business
proprietors to generate earnings that they can invest in their companies or use
to start new ones.
It is unlikely that Steve Jobs would have been able to have the same
impact on the business world that he did without the open market system. It
would have been much more challenging for him to develop and manufacture the
products that helped make Apple such a success if there had been the rules and
limitations that come with a more closely controlled economic system. He might
have had a hard time obtaining the financing and instruments he required to
actualize his thoughts because there was little competition and no commercial
motivation.
References
Gerstle, G. (2022). The rise and fall of the neoliberal
order: America and the world in the free market era. Oxford University
Press.
Sciabarra, C. M. (2020). Free Market Revolution: Partial or Complete?. Journal of Ayn
Rand Studies, 20(2), 340-371.
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argue whether the free enterprise system was necessary for steve job to make an impact on the business world...
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