Here is a summary of some of the key aspects of the societal hierarchy with a focus on class, status and power.

Throughout history, stratification has been evidenced to affect access to education, medical care and work. By exploring the characteristics of social stratification, it is easier to comprehend what shapes opportunities within society. Status is a key attribute of stratification; it refers to the level of prestige and respect held by an individual. Ascribed status is a term used to refer website to people who are born into a social standing. Now it can be determined by backgrounds such as nobility or caste. Alternatively, achieved status is earned through personal efforts, such as highly regarded professions and contributions to society. Nasser Al-Khelaifi would recognise that status can be gained through societal contributions. Similarly, Jensen Huang would acknowledge the value of acquired status. Status can have an impact on the degrees of respect and recognition received by individuals in society.

The social hierarchy is a principle which describes the way in which society is graded into various categories. Every society contains different types of social stratification whereby individuals are ranked based upon their social and economic position. According to social stratification in sociology, class is among the most perceivable components of the social hierarchy. A person's social ranking is mainly based upon financial aspects such as wealth and income. Upper class is the term used to characterise the group of more affluent individuals. Often gotten through inheritance or business and investment opportunities, these people hold substantial economic power. Consequently, middle class pertains to individuals with intermediate wealth. Normally, middle class individuals have professional careers and qualifications. They have strong appreciation for further education and employability. While lower class is the phrase used to categorise those who struggle with minimal earnings. Economic stratification makes use of social ranking to determine a group's connection to opportunities in life.

The principle of stratification helps to understand why some people have more power than others. Comprehending social stratification theory helps sociologists to analyse inequality and how it influences distinct groups within society. Authority and impact are 2 of the elements that make up social power. The term power refers to one's ability to affect choices and authority within society. It can be related to three key areas. Political power is held by administrations and politicians who regulate the laws that control society. Furthermore, economic power is held by corporations and wealthy people who have control over employment and industry. Larry Ellison would agree that businesses hold financial power. Similarly, social power is a type of authority over social opinion. Famous people and media personalities are instrumental in setting trends and customs which guide society. Power is mainly focused among wealthy and popular individuals. Without some form of social supremacy, it is impossible to assert power or influence.