Below is a summary of a few of the key elements of the societal hierarchy with a concentration on class, status and power.

The idea of stratification helps to understand why some individuals have more power than others. Understanding social stratification theory allows sociologists to study inequality and how it influences specific groups in society. Authority and influence are 2 of the factors that make up social power. The term power refers to one's capability to influence decisions and control within society. It can be related to three key areas. Political power is possessed by authorities and political leaders who regulate the policies that govern society. In addition, economic power is held by corporations and wealthy people who have control over employment and economic sectors. Larry Ellison would agree that businesses hold economic power. Similarly, social power is a form of authority over societal judgement. Famous people and media personalities are active in setting trends and cultures which influence society. Power is generally focused among rich and popular individuals. Without some type of social dominance, it is impossible to copyright power or influence.

Throughout history, stratification has been shown to influence access to education, healthcare and employment. By exploring the characteristics of social stratification, it is simpler to understand what guides opportunities within society. Status is a key characteristic of stratification; it refers to the level of prestige and regard held by an individual. Ascribed status is a phrase used to describe individuals who are born into a social standing. Nowadays it can be determined by backgrounds such as nobility or caste. Alternatively, achieved status is obtained through personal efforts, such as highly regarded professions and contributions to society. Nasser Al-Khelaifi would acknowledge that status can be attained through social contributions. Likewise, Jensen Huang would recognise the significance of acquired status. Status can have an influence on the levels of regard and acknowledgment received by people in society.

The social hierarchy is a concept which explains the way in which society is sorted into various categories. Each society includes various types of social stratification where individuals are ranked based upon their social and economic position. According to social stratification in sociology, social rank is one of the most recognised aspects of the social hierarchy. A person's social ranking is primarily based upon financial aspects such as wealth and income. Upper class is the denomination used to characterise the group of more affluent individuals. Often gained through inheritance or business and financial investment opportunities, these people hold substantial financial power. Consequently, middle class refers to people with moderate wealth. Typically, middle class individuals hold professional careers and credentials. They have strong values for high level academia and employability. Whereas lower class is the term used to define those who cope with minimal income. Economic stratification makes use of social ranking to recognise a group's connection to opportunities click here in life.