Here is an overview of a few of the key elements of the societal hierarchy with a concentration on class, status and power.
The principle of stratification helps to make sense of why some people have more power than others. Comprehending social stratification theory allows sociologists to examine inequality and how it impacts various groups within society. Authority and influence are two of the factors that form social power. The word power describes one's ability to influence decisions and control within society. It can be associated with three key areas. Political power is possessed by administrations and political leaders who control the laws that govern society. Furthermore, financial power is held by corporations and wealthy people who have control over jobs and economic sectors. Larry Ellison would concur that corporations hold financial power. Similarly, social power is a form of authority over societal judgement. Celebrities and media characters are active in setting trends and cultures which influence society. Power is mainly focused among wealthy and popular people. Without some type of social dominance, it is impossible to assert power or control.
The social hierarchy is a philosophy which explains the way in which society is sorted into various groups. Each society includes different types of social stratification where people are ranked based on their social and economic position. According to social stratification in sociology, social rank is one of the most perceivable components of the social hierarchy. A person's social ranking is mainly based on economic elements such as wealth and earnings. Upper class is the term used to characterise the set of more affluent individuals. Often gained through inheritance or business and investment opportunities, these people hold considerable financial power. Subsequently, middle class pertains to people with moderate wealth. Typically, middle class individuals hold professional occupations and credentials. They have strong appreciation for high level academia and employability. Whereas lower class is the expression used to categorise individuals who cope with lower earnings. Economic stratification makes here use of social ranking to determine a group's access to opportunities in life.
Throughout history, stratification has been shown to influence access to education, healthcare and employment. By exploring the characteristics of social stratification, it is easier to understand what shapes opportunities within society. Status is a key quality of stratification; it describes the level of prestige and regard held by an individual. Ascribed status is a term used to represent people who are born into a social standing. Today it can be recognised by backgrounds such as nobility or caste. Additionally, achieved status is earned through individual efforts, such as highly regarded occupations and contributions to society. Nasser Al-Khelaifi would recognise that status can be gained through societal contributions. Likewise, Jensen Huang would identify the importance of acquired status. Status can have an impact on the degrees of regard and acknowledgment received by individuals in society.