POL 443 Week 2 Individual Assignment Elitism and Institutional Power Paper
POL 443 Week 2 Individual Assignment Elitism and Institutional Power Paper
Popular in Course
verified elite notetaker
Popular in Department
This 7 page Study Guide was uploaded by tophomework Notetaker on Saturday November 14, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 24 views.
Reviews for POL 443 Week 2 Individual Assignment Elitism and Institutional Power Paper
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/14/15
Elitism and Institutional Power Paper 1 Running Head: ELITISM AND INSTITUTIONAL POWER PAPER Elitism and Institutional Power Paper Name……………………. POL 443 Faculty…………………. Date What is the basis for an elitist’s power? Elitism and Institutional Power Paper 2 Elitism is the belief or perceptions that selected groups are considered to be ‘elite’ and have “outstanding personal abilities, wealth, training or experience and other attributes. “ (Nation Master, 2008) Elitists have views that are taken quite seriously and carry a good deal of weight. These individuals often have views that are regarded as best fit to ‘govern’ and can often be found in concentrated members of their group. This group characteristically acquires large amounts of wealth and tends to occupy positions of authority or privilege. There have been public incidents where the elite have abused their position and the general public suffered the consequences. On December 11, 2008, the Securities and Exchange Commission charged Bernard Madoff and his investment firm with “securities fraud for a multibillion dollar Ponzi scheme. This scheme was perpetrated on the advisory clients of his firm.” (SEC, 2008) According to the Securities and Exchange Commission regulatory filings, “the Madoff firm had more than $17 billion in assets under management as of the start of 2008; it now appears that all of the assets of the advisory business are missing.” (SEC, 2008). Since the firm’s inception in 1960, Madoff once the chairman of NASDAQ won wealthy clients, hedge fund investors, and institutional clients like the coowners of the NY Mets, Steven Spielberg and others with steady profits, high returns and low fees through the stock market investments. Federal prosecutors “disclosed a long running scheme that may have resulted in $50 billion losses and is now the largest scam on Wall Street.” (Zambito & Smith, 2008) The former NASDAQ chairman, investigators charged, “operated a classic Ponzi scheme, paying off early investors with funds from subsequent clients to keep the illusion of profit alive. “(Zambito & Smith, 2008) Madoff was legendary and a leader in the financial services industry on the Wall Street and played a Elitism and Institutional Power Paper 3 significant role in the structure of Wall Street in traditional stock trading, equities and derivatives. Were Madoff’s actions an abuse of his elite status? Judging by the number of employees who are now out of work, and investors while many are wealthy, does not negate the fact they have all suffered egregious harm. Investment firms are responsible for fair and accurate report and have a fiduciary responsibility to be ethical, fair and honest in all dealings. Do the elites have too much power in our country? A good debate to be discussed at another time. Many of the elitists use their wealth, status and influence for good of the general public. Elites exist that are trying to stimulate the American labor market, improve consumer confidence thus reviving the American dream. This paper will discuss Apple Computer, Inc, an American multinational corporation, and its cofounder, Steven Jobs. Apple, Inc is a major manufacturer of personal computers (IMac, Mac Book, Mac Notebook, Mac Mini), music players (IPod, IPod Touch, IPod Nano), digital devices (IPhone) and an online music service (ITunes). Apple is headquartered in Cupertino, California. Apple “designs, produces and sells personal computer systems for use in businesses, education, government and home use.” (Apple, 2008). In 1976, Steve Wozniak and Steve Jobs “released the Apple I computer and started Apple Computers.” (Bellis, 2008) Steve Jobs was so impressed and influenced by the Xerox Alto, “the first computer with a graphical user interface that he designed the new ‘Apple Lisa’ the first home computer also with a graphical user interface, based on the technology he saw at Xerox.”(Bellis, 2008). The financial results for the fourth quarter 2008 were posted on the company website and the announcement indicates “revenues of $7.9 billion and net quarterly profit of $1.14 billion, with a direct relationship to selling over 6.9 million IPhones and unheard of Mac sales.”(Apple, 2008) Steve Jobs is also the cofounder of Pixar Animation Studios and created some of the most Elitism and Institutional Power Paper 4 successful animation films in our time: Toy Story, CARS, The Incredibles, A Bug’s Life, Monster’s Inc and Finding Nemo. The films grossed over $4 billion internationally and have won several awards. Pixar merged with The Walt Disney Company in 2006, and Steve Jobs is now on their Board of Directors. Jobs’ personal biography is very interesting. At 21, as a college dropout, he collaborated with Steve Wozniak and sold personal computers out of his garage that they had assembled. Apple Computers has since revolutionized the computer technology world, and made him a multimillionaire at age 30. When Pixar merged with the Walt Disney Company, that transaction made Jobs the largest individual stockowner of Disney stock. He was adopted shortly after his birth and raised by his adoptive parents in Silicon Valley, California Where is the power derived from? With the creation of the Apple computer, ordinary people saw the benefits and the ease of operations. Computers could count widgets, perform income tax equations, and perform daily business operations. The computer revolution that he led, allowed many to see that computers could be small enough to fit inside of a box. That was all that needed to spark sales that have since reached global and epidemic proportions. What strategies does the selected elite figure use to maintain status and influence The computers designed by Jobs initially were expensive, but innovative. When he had poor sales based on his designs, he shut down the hardware division of NeXT and instead focused on software development. Some examples of how the selected elite figure has influenced public policy As cofounder and visionary for Apple Inc, he took aggressive steps in the 1980s to boost consumer confidence. Jobs played a key role in the creation and marketing of a “stylish, little computer called the iMac, which made its debut mid1998 and helped boost Apple’s share of the Elitism and Institutional Power Paper 5 personal computer market.”(Encarta, 2008) Later in 2000, the Apple IPod became one of the most popular devises ever sold. What were the obstacles and how were they overcome Finding innovative and dedicated individuals with a similar philosophy that also shared his passion and zeal for the computer technology that he loves. During the 1980s, he held down the corporate side of the Apple, Inc empire, while hiring presidents that would take the company to the next level. No company has done more with their technological advances to make a user friendly computer than Apple Computer, Inc. Apple has set the standard in personal computers and seen tremendous growth as a result. Under Jobs, Apple Computers became a strong productive company and no serious competitors. Does the selected elite figure provide an apt example of social mobility? Steve Jobs has worked his entire life, having humble beginnings and always saw life a little differently from most people. Jobs sold his Volkswagen and Wozniak his Hewlett Packard scientific calculator to raise the necessary capitol to start their company. Do the activities of the elite figure selected support the elitist theory for wealth and power in America Steve Jobs has been described by colleagues as brilliant, a exceptional motivator and quite charming. His drive for perfection is well documented as an extremely hard task master. Assess whether or not the power wielded by the selected elite figure positively or negatively represents your interests One can only marvel at Jobs’ efforts to constantly to revitalize the company and the corresponding technology and not have it succumb to corporate bureaucracy. Instead he tried to create a harmonious work environment where the industry’s talented software and hardware Elitism and Institutional Power Paper 6 designers could flourish. The results of his efforts and positive use of both power and influence speak for itself. References: Angelelli, L. (1994) Steve Paul Jobs. Retrieved on January 19, 2009 from http://ei.cs.vt.edu/~history/Jobs.html Elitism and Institutional Power Paper 7 Bellis, M. (2008) The History of Apple Computers. Retrieved from About.com: Inventors on January 19, 2009 from http://inventors.about.com/od/cstartinventions/a/Apple_Computers.htm Encarta (2008) Steven Jobs. Retrieved from Microsoft Encarta Online Encyclopedia on January 18, 2009 from http://encarta.msn.com/encyclopedia_761561976/Steve_Jobs.html SEC (2008) SEC Charges Bernard L. Madoff for MultiBillion Dollar Ponzi Scheme. Retrieved from Securities and Exchange Commission website on January 19, 2009 from http://www.sec.gov/news/press/2008/2008293.htm Zambito, T and Smith, G.B. (2008) Feds say Bernard Madoff's $50 billion Ponzi scheme was worst ever. Retrieved on January 19, 2009 from NY Daily Newshttp://www.nydailynews.com/news/ny_crime/2008/12/13/200812 13_feds_say_bernard_madoffs_50_billion_ponz.html
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'