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The Rule Of 72 Essay

611 words - 3 pages

Non-profit organizations play a key role in the world’s economy. Organizations like Opportunity International assists people in developing countries give back to the community. In the 25 years of the company, Opportunity International has assisted over one million people in 28 different countries. Developing countries do not have financial institutions such as banks where the under privileged can receive loans to start an entrepreneurship. That is where organizations like Opportunity International comes into play. These people, who are mostly women, that take advantage of Opportunity International, receive microloans so they can start and invest in a business. Even though microloans maybe only 100 to 200 dollars, a small amount to someone in a developed country, can make a huge difference to a village in an under-developed country. By having investors, the community grows and prospers from that one investment. This also includes ...view middle of the document...

Because of Opportunity International, she received that knowledge skills and funding need to become an entrepreneur. She then passed on her skills to over one hundred other people in her community to cause a snowball effect. As the business grows, the community continues to reap the benefits of the organizations purpose. Opportunity International is a prime example of how the world is becoming a mixed economy. OI is not only introducing free-market capitalism to underdeveloped and developing countries, but they are educating and training individual in starting their own profitable business. Even though this is small, the United States was founded on these basic business principals. At this time the United States has a mixed economy. The United States does give their citizens the four basic rights of free market capitalism. People have the right to own property, keep the profits from a business that they start, compete with other businesses, and work wherever and whenever they want. As the United Stated is ran and founded on these rights, the reason economic downfall has caused socialistic characteristics in the American economy. For example, due to the recent bankruptcy of General Motors, the United States government has taken control of the company and now own 60% of the stock. Another example of a socialist trait is free health care for the citizens. Although this is not negative, most socialistic countries have higher taxes and a higher unemployment rate.
In order to be beneficial to less developed countries, one must be educated and experienced in the inner workings of free-market capitalism and business management. A good way to gain experience in this area would be to research organizations like Opportunity International. The next step would be to find and allocate money. Donating to Opportunity International would be a perfect way to contribute to the overall development of the world.
Nickels, William G., McHugh, James M., McHugh, Susan M. (2010). Understanding Business (9th ed.). New York, NY: McGraw-Hill Irwin.

Nickels, William G., McHugh, James M., McHugh, Susan M. (2010). The Rule of 72 [Video file]. Retrieved from http://www.mhhe.com/business/management/nickels_9e/videos/ch2/player.html

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