The United States has always been identified as a free market capitalist economy. However, there is a growing movement that supports replacing capitalism with socialist programs that would completely change the workplace, economics and culture of the USA. Examples of these programs include free access to health care and education to everyone and an overhaul of environmental policies that would impact every type of business enterprise. In addition, the explosion of social media and on line commerce has completely changed how products are targeted and marketed to consumers. The USA was once a giant in manufacturing but those jobs have been outsourced to other nations. The growing interest in socialism is not without controversy. In the words of Margaret Thatcher, a former British Prime Minister, “The problem with socialism is that you eventually run out of other people’s money.” The US National Debt is somewhere around $23 trillion and growing. For this discussion, please use the key terms from chapters 2, 9 and 13 to comment on the statements above. Your grade will be based on your use of the key terms as well as how well your response demonstrates knowledge of the terms and the concepts in the chapters. You are required to post your own discussion points. If you wish to use a web resource in your response, please include the URL. The discussion covers chapters 2, 9 and 13 and requires that you use the “key terms” from those chapters in your response. You do not need to use all the terms but you should aim to use about 10 from each chapter. Do not just give the definitions of the terms. You response should show an understanding of the application of the terms to the discussion topic. Generally, a well constructed answer will have 6-8 paragraphs and show how the concepts from each chapter relate to each other. The most common mistake students make with this discussion is to only use the key terms from Chapter 2. Please make sure that you are including the key terminology from all three chapters. If you use outside sources, please include the URL as stated before I will add the “key terms” from the 3 chapters below Chapter 2- economics, macroeconomics, microeconomics, resource development, “invisible hand”, capitalism, state capitalism, supply, demand, market price, perfect competition, monopolistic competition, oligopoly, monopoly, socialism, brain drain, communism, stagflation, recession, unemployment rate, inflation, fiscal policy Chapter 9- assembly process, computer aided design, computer aided manufacturing, computer integrated manufacturing, continuous process, critical path, enterprise resource planning, facility layout, facility location, flexible manufacturing, form utility, Gantt chart, intermittent process, lean manufacturing, mass customization, operations management, statistical process control, telecommunicating, production management Chapter 13- benefit segmentation, brand name, business to business market, consumer market, demographic segmentation, environmental scanning, focus group, geographic segmentation, marketing, marketing concept, marketing mix, marketing research, market segmentation, mass marketing, niche marketing, primary data, product, promotion, relationship marketing secondary data target marketing, secondary data, target marketing, test marketing, volume segmentation.
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