In relation to corporate, capitalism relates to a stakeholder’s investment. Both shareholders and stakeholders are known as owners of a corporation. All process of decision making is taken by these shareholders or stockholders. Capitalism, therefore, can be said to be a virtue of the corporation that is responsible for the creation of high profits and also increment in sales (McMahon, 2013) . In simpler ways, capitalism can be defined as an economic system whereby economic resources of a company are owned by individuals and they make their decisions based on their own self-interest.
What links debates associated with various forms of capitalism is the fact that these contributions and associations of capitalism are concerned with the manner in which decisions are made. Cooperatives which are worker-owned provide an alternative ownership structure to privately owned companies. What makes such worker-owned cooperatives quite interesting is the fact that they challenge the traditional concepts of company decision-making as a corporate hierarchy that responds to profit motives of financial stakeholders (Gil-Lafuente, 2013) . These worker-owner cooperatives represent a specified alternative whereby strategy within a company is decided while taking into consideration various set of interests. Capitalism creates an argument on a broader scale in that it is considered as a call to widen the basis of decision making through various economic means that recognize the importance of the collective.
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A different way to think of this relates to the different governance or economic democracy of strategic decisions. These decisions relate to the economic activities that have a great impact on society and they go far beyond the economic. There is a need to determine ways in which we can move from debates to actual practice with respect to new forms of capitalism that are softer and much more inclusive. There are numerous examples of innovative institutions and companies from which people can learn a lot about how to make decisions in manners that includes a wide range of interest (McMahon, 2013) . For example, the various examples of social enterprise which combine a firm’s profit objective and the various forms of social purpose that have gotten used to the pressures of maintaining a balance of a wide range of interests in its governance.
Generally, there is a need for people to be more open-minded in their understanding of the company and its set goals. People should also embrace a plurality of institutions which are already in existence in the society as this helps them learn where varying balances of decision-making could work better and where it could work worse (Gil-Lafuente, 2013) . For instance, it is certain that currently, decision making in the financial sector is not working for a society in general.
Capitalism is advantages as it led to the production of the best products and at the best price. This is because consumers are able to pay higher prices for what they want the most. Firms offer what customers want and at the highest price that these customers would pay. Among businesses, competition keeps prices lower. They create their own products as efficient as they can in order to maximize their profit. Most essential for economic growth is capitalism's intrinsic rewards for innovation (McMahon, 2013) . For instance, this may include innovation in production methods that are more efficient. It also refers to innovation for new products.
Reference
Gil-Lafuente, A. (2013). Decision making systems in business administration . Singapore: World Scientific.
McMahon, C. (2013). Public capitalism . Philadelphia: University of Pennsylvania Press.
