Fathers of the Businesses that Built America Essay

Fathers of the Businesses that Built America Essay

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At some point in time Carnegie and Frick were at a place where they had their employees working longer hours, harsher conditions, and less money that wasn’t suitable to live in. Frick knew that this would up the profits of the company but, he didn’t think that the employees would respond negatively to it. The employees were being severely overworked, which resulted in their lack of ability to perform the job the way they use to do them. The employees were so tired of the horrible working conditions and low wages that they went on strike, which is the last thing that managers want to deal with. In order to have a successful business, the employees need to be happy because if they’re happy it is just as important as the money the company brings in.
Finance plays a role in every decision making process that a company has to go through. An example of this is let’s say that Savannah is the owner of a new boutique in town and has just paid off the down payment on the location but had to take a lot of loans out to fix the place up. All of Savannahs money has gone to loans for fixing the location up, the rent of the place, equipment, supplies and employees, but the boutique is a huge hit in the small town and she becomes extremely busy. Savannah has no more money to pay for more help in the store and this is where finance had just played a role in her decision on what to do next. Obviously, if Savannah had more money than she could hire more help with the boutique but since she doesn’t she had to find a way to not overwork her employees and still have a successful business.
Every business has to make difficult decisions based off of finances. The company’s overall goal is to market the best product, and also producing the best working...

... middle of paper ...

...king America a greater world for business.

Works Cited

Andrew Carnegie Biography. (n.d.). Bio.com. Retrieved April 25, 2014, retrieved from http://www.biography.com/people/andrew-carnegie-9238756
Career Center. (n.d.). Finance. Retrieved April 24, 2014, retrieved from http://uncw.edu/career/finance.html
Oligopoly Definition | Investopedia. (n.d.). Investopedia. Retrieved April 22, 2014, retrieved from http://www.investopedia.com/terms/o/oligopoly.asp
Reams, P. (Director). (2012). The Men Who Built America [Documentary]. United States: A & E Television Networks;.
What is consolidated industry? Definition and meaning. (n.d.). BusinessDictionary.com. Retrieved April 21, 2014, from http://www.businessdictionary.com/definition/consolidated-industry.html#ixzz2zLOmFnmf
Williams, C. (2013). Business. MGMT 6 Student Edition. Mason, Ohio: South-Western, Cengage Learning.

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