It can be said that Alfred Chandler (1918-2007) created the study of business history. Chandler concentrated his early research efforts on explaining the growth of large multidivisional firms in the USA and how they helped develop the US economy ( Jones, 2008)
He was a historian, and in 1952 had completed his PhD at Harvard University in. His classic business book, “Strategy and Structure was published a decade later. His theory was grounded on an expansive study of large American firms between the years 1850 and 1920 (Economist)
Alfred Chandler served in the US navy during WWII, where he witnessed, first hand, the undertakings of a large organisation. He went on to teach at Johns Hopkins University and MIT before proceeding to Harvard Business School in 1971, the place where he became the first holder of an endowed chair in business history (Economist)
‘His work on the development of the multidivisional form of organization… and, to a lesser extent, on the emergence of the large-scale vertically integrated enterprise… are still seen as pioneering efforts in the management and in particular the strategy literature.’ (Kipping and Üsdiken, 2008: 97). This essay seeks to appraise the contribution of Alfred Chandler to an assortment of areas in business history and more broadly to management and economics and will be concluded with contemplation on the future significance of his work.
Alfred Chandler’s contribution starts with his research question regarding the factors that contributed to the transformation of large firms in the US economy. More specifically, he researched d how managers develop skills to organise the complicated routines that eventually went worldwide, and how the transformation of small enterprises into large...
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True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the similarities and differences in how both men achieved domination. Third and lastly, Look at how both men treated their workers and customers in order achieve the most possible profit for their company.
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Industrial development of the late 18th century (around 1865-1900) is often characterized by it’s affluent, aggressive and monopolistic industrial leaders of the likes of men such as Andrew Carnegie, William H. Vanderbilt, and John D. Rockefeller. Due to their ruthless strategies, utilization of trusts, and exploitation of cheap labor in order to garner nearly unbreakable monopolies and massive sums of wealth, these men are often labelled as “robber barons”. At the same time, they are also often referred to as “industrial statements” for their organization, and catalyst of, industrial development; not to forget their generous contributions to the betterment of American society. Therefore, whether or not their aforementioned advances in industry were undertaken for their own personal benefits, one cannot ignore their positive effects on America. Thus, one can conclude that not only were the captains of industry both “robber barons” and “industrial statements”, but that that these two labels, in fact, go hand-in-hand.
Rockefeller’s impact on society has changed the way a lot of tasks were done. Rockefeller was known as a hero to many enterprising americans. (McCullough 5) He brought his brother, William Rockefeller, into a partnership that built another oil refinery in Cleveland. In 1867, Henry M. Flagler became a business partner of Rockefeller, thus creating the business Rockefeller, Andrews, And Flagler. (Poole 13) In 1868, Rockefeller, Andrews, and Flagler’s business became the largest oil refiner in the world. (Poole 13)
In Harold C. Livesay’s Andrew Carnegie and the rise of Big Business, Andrew Carnegie’s struggles and desires throughout his life are formed into different challenges of being the influential leader of the United States of America. The book also covers the belief of the American Dream in that people can climb up the ladder of society by hard work and the dream of becoming an influential citizen, just as Carnegie did.
After working at Peabody, Morgan and Company (his father’s London banking branch) and gaining experience as an accountant, J.P. Morgan relocated to J.S. Morgan & Co’s American branch in New York City. Here, he became an representative for his father’s firm. In 1864, J.P. Morgan’s assiduous determination paid off, as he became an member of great influence at Dabney, Morgan and Co. Soon, in 1871, he struck a partnership with the distinguished Philadelphian Drexels to form the new firm of Drexel, Morgan & Co. This firm was later renamed J.P. Morgan & Co. and recognized as the most prestigious and influential institutions of finance in the world that executed numerous consolidations and reorganization. As America’s Industrial Expansion period hit it’s peak, J.P. Morgan established himself as a top banker and financier.
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During globalization 2.0, Friedman explains, the world shrunk from medium to small. Companies such as U.S. Steel, Ford Motor Company, Boeing, and I.B.M. spearheaded this era. Being first time movers, these businesses capitalized on new technologies and innovative processes which enabled them to become powerful and influential. They created new markets and reshaped the business landscape. U.S. Steel made it possible to efficiently mass produce high quality steel, Henry Ford invented the assembly line, Boeing developed and produced airplanes, and I.B.M. successfully mass produced computers. This period lasted from the early 1820’s until the year 2000. During globalization 2.0, ma...
The life and career of John Davidson Rockefeller is a story of American economic development that led to great success. Born in 1839 in Richford, New York, Rockefeller built an economic empire. Rockefeller’s first interest in acquiring money first began through his church involvement. He volunteered to raise $2000 for a church debt. Later Rockefeller confessed, "The plan absorbed me. I contributed what I could, and my first ambition to earn more money was aroused by this and similar undertakings in which I was constantly engaged."(1) He began his career as a humble oil business bookkeeper in Cleveland, Ohio and in just seven years rose to control a tenth of the entire United States oil industry.(2)
In the late 1800s' economy there were many Americans who considered themselves to be business affiliated, but really didn't understand the full meaning of a business or knowing any financial obligations within a business. However, there was one peculiar man John Pierpont Morgan also know as J.P. Morgan who stood out to be a triumphant entrepreneur of many Americans in the late 1800s U.S. Economy.
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The steel industry was needed for almost everything. Alfred D Chandler Jr. could see the potential market value early on.
helped create the new economy of capitalism with his book, "The Wealth of Nations", countries