MGTA01H3 Lecture Notes - Lecture 2: Barrick Gold, George Weston, Suncor Energy

• School: UTSC
• Department: Management
• Course: MGTA01H3
• Professor: Chris Bovaird

Document Summary

Adam smith: prof - father of (cid:862)li(cid:271)eralis(cid:373)(cid:863) Liberalism (capitalism): people will work hard if left alone to provide for themselves and their families. Individuals, and the nation, will prosper if the government leaves them alone to do so. Theoretical ideal: author of (cid:862)the wealth of natio(cid:374)s(cid:863) (cid:894)1(cid:1011)(cid:1011)(cid:1010)(cid:895, anybody can try, but punishes those businesses are(cid:374)"t good, business that are badly run. Karl max: prof and economist - father of (cid:862)(cid:272)o(cid:373)(cid:373)u(cid:374)is(cid:373)(cid:863, communism: profit is the result of one group of people exploiting the labour of others. The government should oversee the equal distribution of goods and services. Theoretical ideal: go(cid:448)er(cid:374)(cid:373)e(cid:374)t should(cid:374)"t i(cid:374)terfere (cid:449)ith people (cid:449)ho (cid:449)ork hard, author of (cid:862)capital(cid:863) (cid:894)1(cid:1012)(cid:1008)(cid:1012)(cid:895) Businesses try to make a profit, but businesses can and do make losses. Losses: amazon b, general motors b, blackberry . Location hot place: not enough demand, the team is not the best.