Answer to Question #317324 in Management for king

Question

Discuss the concept of capabilities. Thereafter, use the value chain to classify and explain any five capabilities of TFG.

Answer 1

The Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively. A person’s capability to live a good life is defined in terms of the set of valuable ‘beings and doings’ like being in good health or having loving relationships with others to which they have real access.

The Capability Approach was first articulated by the Indian economist and philosopher Amartya Sen in the 1980s, and remains most closely associated with him. It has been employed extensively in the context of human development, for example, by the United Nations Development Programme, as a broader, deeper alternative to narrowly economic metrics such as growth in GDP per capita. Here ‘poverty’ is understood as deprivation in the capability to live a good life, and ‘development’ is understood as capability expansion.