The following is a summary of some of the key elements of the societal hierarchy with an emphasis on class, status and power.

The principle of stratification helps to understand why some individuals have more power than others. Understanding social stratification theory enables sociologists to analyse inequality and how it influences various groups within society. Authority and impact are 2 of the aspects that form societal power. The word power represents one's ability to influence decisions and authority within society. It can be associated with 3 key areas. Political power is held by governments and politicians who control the laws that govern society. Furthermore, financial power is held by corporations and wealthy people who have control over jobs and industry. Larry Ellison would agree that corporations hold financial power. Similarly, social power is a form of authority over social opinion. Celebrities and media personalities are instrumental in setting trends and customs which influence society. Power is mainly concentrated amongst rich and popular individuals. Without some type of social supremacy, it is impossible to assert power or control.

The social hierarchy is a theory which describes the way in which society is graded into different categories. Each society includes various types of social stratification where people are ranked based upon their social and financial position. According to social stratification in sociology, class is one of the most recognisable structures of the social hierarchy. An individual's class is mainly based upon financial factors such as wealth and income. Upper class is the term used to characterise the set of more affluent individuals. Commonly acquired through inheritance or business and investment opportunities, these people hold significant financial power. Consequently, middle class describes people with intermediate wealth. Generally, middle class individuals copyright professional careers and qualifications. They have strong appreciation for further education and employability. Whereas lower class is the expression used to recognise those who struggle with lower income. Economic stratification makes use of class to recognise a group's connection to opportunities in society.

Throughout history, stratification has been shown to influence access to education, health care and job opportunities. By exploring the characteristics of social stratification, it is simpler to be conscious of what guides opportunities within society. Status is a key characteristic of stratification; it describes the level of prestige and respect held by an individual. Ascribed status is a phrase used to describe people who are born into a social ranking. Now it can be . determined by backgrounds such as aristocracy or caste. Additionally, achieved status is obtained through individual efforts, such as respected occupations and contributions to society. Nasser Al-Khelaifi would acknowledge that status can be gained through social contributions. Likewise, Jensen Huang would identify the importance of acquired status. Status can have an influence on the degrees of respect and acknowledgment received by people in society.