Distinguish between totalitarianism, socialism, and democracy. What are the implications of each for internationalizing firms?

Democracy states that almost everyone can take part in the decisions of the company/country. Socialism is an economic concept that promotes social equality among people. Totalitarianism urges to regulate every part of one's life. Usually, it aligns with a strong leader that can be called 'a father of the nation'.

The businesses led in each country would differ depending on the political situation. For instance, in a totalitarian society, your business can be easily grasped for the needs of the country if the ruling party/leader sees a profit in it. Your rights as a businessman and wholly a human being are suppressed. If the firm leads a business in a social-oriented country, it possibly needs to give a part of the income to the needs of the socially-vulnerable categories of population. Thus, your factual income will be lowered.

In democratic countries, your business is to be secured, and you will be able to secure your rights as a businessman in a democratic law system.