Karl Marx saw two social classes: those who own the means of production and those who do not. Max Weber theorized that there was more to social class than production. Weber identified three components of social class: status, class, and power.
Entrepreneurship is a vital part of the American economy and for many, the pursuit of owning a business is a critical part of elevating one’s social class.
Write an essay in which you discuss the key components of both Marx and Weber’s theories of social class as they relate to entrepreneurship in the United States.
Huawei Technologies Co., Ltd. (hereafter; Huawei) is a Chinese multinational provider of information and communications technology solutions that is headquartered in Shenzhen, Guangdong. At its early stages, Huawei only focused on manufacturing phone switches but has now expanded to building telecommunication network and also designing smart phones for the consumer market around the world. This assignment aims to analyse how Huawei managed its organisation and add value to the resources they use in the mobile phone industry. Huawei has narrowed the gap between two of its major competitors; Apple Inc. and Samsung Electronics in the global smartphone market. Their market share increased by 9% for the first quarter of 2017 and has now successfully hold the 3rd spot ranking for worldwide smartphone. Huawei’s smartphone shipments have increased steadily over the past five years: In 2016, they shipped a total of 139 million smartphones, a 29% increase over 2015. In any industry, businesses need to differentiate themselves from their competitors by adding value to the resources it utilizes. Offering end consumers more than just the product they purchase might distinguish businesses from their competitors, gaining them a competitive advantage. Below are some of the ways that Huawei adds value to their resources: Huawei always look into ways to innovate their products in order to stay competitive in the smartphone market. In order to stay innovative, Huawei always look for joint venture with other brands and their joint development with Leica in their second generation dual-lens camera technology sparked a new trend in the smartphone photography. As a result, the global sales of Huawei for the P9 smartphone series exceeded 10million units and it became an instant hit competing close with Samsung Galaxy smartphones (Chua, 2016). The implementation of technological innovation allows constant improvement for Huawei as they are keen to increase their customer experience (Cendrowski, 2017). They always seek on good quality on all of the materials that they use for their smartphones. Smartphones are high-tech products with high requirements and rapid innovation. This requires full attention on speed because a new product worth can be decreased if the innovating speed is not fast enough. Huawei’s R&D facilities allows them to predict future technological needs whilst developing their core technological advantage. The most important thing in the aspect of cost is the customer perceived value on the willingness to pay for the product. With the presence of internet, the brand and product knowledge of customer is strong as they can research and compare products before buying. When Huawei first entered the smartphone industry, it adopted a cost competition strategy where they set their price much lower than its competitors but they proof that they can function as well as the high-end smartphone br>GET ANSWER