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3 May, 04:40

Distinguish between totalitarianism, socialism, and democracy. What are the implications of each for internationalizing firms?

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  1. 3 May, 05:09
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    Democracy states that almost everyone can take part in the decisions of the company/country. Socialism is an economic concept that promotes social equality among people. Totalitarianism urges to regulate every part of one's life. Usually, it aligns with a strong leader that can be called 'a father of the nation'.

    The businesses led in each country would differ depending on the political situation. For instance, in a totalitarian society, your business can be easily grasped for the needs of the country if the ruling party/leader sees a profit in it. Your rights as a businessman and wholly a human being are suppressed. If the firm leads a business in a social-oriented country, it possibly needs to give a part of the income to the needs of the socially-vulnerable categories of population. Thus, your factual income will be lowered.

    In democratic countries, your business is to be secured, and you will be able to secure your rights as a businessman in a democratic law system.
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