Free enterprise is a system that allows competitors to freely compete for the loyalty of consumers based upon meeting customer expectations. Protectionism, in any of its various forms, limits competitors through regulations, tariffs, taxes, legal harassment etc. Here is a hilarious advertisement that captures what happens when incompetent managers attempt to limit competition through legal harassment. In free enterprise, if your competitor has a better product or service, your objective is to improve your products and methods in order to compete. This improves society as a whole and is an example of Adam Smith's "invisible hand" at work. Attempting to destroy your competitors is an overt admission that you cannot compete and are seeking protectionist principles. There are so many great lessons taught in this priceless short video. God Bless, Orrin Woodward
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This is the blog where leaders come to learn with NY Times, Wall St. Journal, USA Today, Money & Business Weekly best selling co-author of Launching a Leadership Revolution & Top 25 Leadership Gurus List Best of the Rest Selection - Orrin Woodward. This blog is an Alltop selection and ranked in HR's Top 100 Blogs for Management & Leadership.
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Free Enterprise vs Protectionism
Comments
Re: Free Enterprise vs Protectionism
by
Don
on Tue 16 Jun 2009 12:28 PM EDT | Profile | Permanent Link
Outstanding! Loved it!
Re: Free Enterprise vs Protectionism
by
Robert Dickie III
on Tue 16 Jun 2009 12:53 PM EDT | Permanent Link
HA! That is awesome!
Re: Free Enterprise vs Protectionism
by
Anonymous
on Tue 16 Jun 2009 01:19 PM EDT | Permanent Link
LOL!
Re: Free Enterprise vs Protectionism
Man oh Man ....I don't know if I should drink or sell energy drinks ...don't they all come in ALUMINUM CANS ...And is the the name EMV....Is there some with that name...well I will think about it for a second ..DECISION MADE I AM GOING TO BUY ATLEAST 12 CASES...I hope that doesn't enfringe on anybodies right..God Bless you Orrin and Dallin...
Re: Free Enterprise vs Protectionism
by
Szyent
on Tue 16 Jun 2009 01:58 PM EDT | Profile | Permanent Link
I detect that there may be someone not liking the market share of energy drinks moving slightly......
Re: Free Enterprise vs Protectionism
by
Mitchell
on Wed 17 Jun 2009 09:26 PM EDT | Permanent Link
After being brought into the system I almost found this video hard to watch. The fear is that something like this isn't far off from occurring.
I'm trying to find and learn the lessons given in this little video. How much difference would this situation have if 5% thinking were brought in? If they edified their coworkers? If they found reason to work harder, be it advertising or improving? Complaining and trying to tear down the opposition used to be easy and expected in the area of thinking I came from. This shows the need for the leadership of the Team. |
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