Question

Which best describes Robert Owen’s political ideology and its impact on business?

Answer 1

Utopian socialism or a cooperative work ethic in which the benefit of a business and its enterprises would be beneficial to all those involved. Some of his ideas were adopted into the formation of a union, which would unify and speak on behalf of a consolidated group of low or middle class workers to the employers in an attempt to have a larger power base when deal with companies, instead of just individuals who could be easily dismissed or fired.

Answer 2

The best describes to Robert Owen's political ideology and its impact to business is that Owen was a businessman and social activist, he sought to bring in new utopian ideals for business and local communities in in 1799 when he acquired at New Lanark, Scotland, the cotton mills which he made famous. He rejected the competitive business system but he urged the merits of a cooperative system in which “one man’s gain” would not be “another man’s loss”