What Are the Three Essential Features of Capitalism

question 106

Essay

What are the three essential features of capitalism?

Describe the relationship between power, authority, and influence.

Understand the concept and significance of the zone of indifference.

Comprehend the effects of coercive power on employee behavior and performance.

Grasp how reward power can effectively influence behavior and performance.

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Definitions:

Incompatible Interests

Conflicting desires or goals among individuals or groups that make it difficult to find a common ground.

Diverse Groups

Collections of individuals from various backgrounds and characteristics, including ethnicity, culture, gender, and age, leading to heterogeneity in a population or organization.

Social Conflict

Disagreements or disputes between social groups that can arise from differences in interests, beliefs, or values.

Phenomenologists

Researchers who study human consciousness and the way individuals experience and interpret the world around them, emphasizing subjective experiences.