The Founding Fathers of Business
Throughout the course of the semester we have learned the key necessities of being a smart but effective manager in the business world today. We have learned many different aspects of management and how to apply them to the real world by watching the Men Who Built America documentary. Carnegie, Morgan, Rockefeller, Vanderbilt, and other important people have put their mark on the business world today. Each and everyone one of these people have laid their own foundations of modern business down and their contributions to society are still talked about to this day. One question that I ask myself is if these men never impacted the business atmosphere, would business practices be the same? There’s a possibility that business practices could be the same but there’s an even greater chance that it would be completely different. In order to be an intelligent manager you should know about Carnegie, Morgan, Rockefeller and Vanderbilt because their ways of managing are all different and you can learn from the bad decisions and take account of the good ones.
One of the most important things in running a successful business in knowing when to enter and or exit a market. Managers are always looking into different markets and industries and comparing the businesses in them to their own. People are constantly leaving their current jobs for other opportunities, mainly because of better pay and better working conditions. Like people, businesses come and go also, mostly because of the rise and fall of the markets and industries that these businesses are working in. The two innovators who know the most about entering or exiting a business sector are Carnegie and Vanderbilt. The both of them saw an opportunity to exit...
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...that have more of an influence on the public.
References
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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.
During the late nineteenth century rapid industrialization paved the way for extreme economical wealth of many business. In accordance with the overflowing wealth in the nineteenth century many individuals held similar but yet contrasting views toward the wealth that was created in the United States. Among these individuals were Andrew Carnegie, Eugene V. Debs, and Horatio Alger.
In the book Founding Brothers The Revolutionary Generations, by Joseph J. Ellis the author starts off by introducing the key members which are Hamilton, Jefferson, Washington, Madison and others that were a huge impact in the story. Joseph J. Ellis is a historian who is an author of many books and also has a PH.D. from Yale University. He continued his career as a professor in other universities and has also gained a Pulitzer Prize. The author does jump around on the dates, but it gives the understanding to see how the events affected each other. Ellis gives a brief background which allows the reader to get a better understanding, the book is split into six sections that each section focus on a great event. As for reading, the readers get to see the story from different perspectives.
Shi, David E. and Holly A. Mayer. For the Record A Documentary History of America. New
Andrew Carnegie and John D. Rockefeller: Captains of industry, or robber barons? 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 dominance.
In the book Founding Brothers written by Author Joseph J. Ellis, Mr. Ellis explains the challenges the founding brothers, including George Washington, John Adams, Thomas Jefferson, James Madison, Benjamin Franklin, Alexander Hamilton and Aaron Burr faced as the Founding Brothers formed the newfangled government of the United States. Joseph Ellis uses a very well organized style splitting the book into seven sections, each telling a different story or series of events. And rather then just summarizes the entire sections one by one, this paper will tell the most important and significant events rather than just simply all the events. Mr. Ellis states that the reader will need to understand the events both on how they truly occurred, and how they were to be interpreted when later revealed. The book focuses on significant aspects of the revolutionary war as well as the influences each founding brother and their contributions to American history, and how this all helped shape America into what remains now. “Mostly Male, all white, this collection of public figures was hardly typical of the population as a whole: nor was it, on the other hand, a political
There were many men involved in the establishment of the government, the laws regulating states and people, and individual rights in the construction of the United States of America. Two men stand out as instrumental to our founding principles: Thomas Jefferson and Alexander Hamilton.
The Founding Brothers is a historical non-fiction novel consisting of only six chapters and seven sections. However, those six chapters recap stories and key moments in post-revolutionary America. Including the unforgettable lives of our Founding Fathers, some being Washington, Adams, Jefferson, Madison, Franklin, and Hamilton.
In the late 1800s and early 1900s, during the climax of the American Industrial Revolution, there was a small group of men who owned the major businesses and were leaders of their industries. They owned factories, railroads, banks, and even created company towns for the sole purpose of housing their workers. Due to the efforts of these few men, the U.S. economy became the envy of the world, and America became a leading world power. They provided the public with products that were in high demand for reasonable prices, and opened their markets to countries overseas. Although many people believe the early industrialists were Robber Barons who exploited the poor, these great men were truly Captains of Industry who created new ways of doing business, and provided products and services to the public; moreover, they were generous philanthropists who contributed much to society.
The framework for this novel was placed by Ellis around the pivotal figures of the American Revolution, dubbed the revolutionary generation. He begins in the prologue by disclaiming to the reader that the events discussed in this novel should be interpreted in hindsight, as well as foresight, claiming that the topics discussed may be factual, but also misconstrued in different ways. It seems that the main idea of this novel is that, while being essentially accurate, the topics discussed may be representative of given individuals’ personal recollection. It will bring to light the different ideas of the founding brothers, as the novel calls them, and compare and contrast them in a non-biased manner.
In the years following the Civil War, the American economy was suffering from extreme disorder. However, during the late 1800s and early 1900s, important leaders of American industry arose, essentially transforming the American financial system from chaos to efficiency. These powerful men shaped America into a world superpower and the country’s economy sparked jealous across the globe. Their contributions to business positively affected not only the United States’ economy, but society as well. Andrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan reflect the mammoth industrial age of America. Although some may argue these industrialists were “robber barons,” these men were, in reality, “captains of industry” utilizing modern business practices and technology which provided both cheap products and job opportunities for the public, as well as becoming large-scale philanthropists and contributing much to American society.
Hamel G. and Breen B. (2007). The Future of Management: Aiming for an Evolutionary Advantage (Management Innovation in Action). Harvard Business School Press.
Miles and Snow’s typology is centered on four types of businesses; each with its own strategy. These business types are those of prospectors, defenders, analyzers, and reactors. A prospector tends to be a firm which often introduces new products to the market (p.196). These businesses can be described as risk takers, typically being some of the first firms to introduce a new product to the market. Prospectors are flexible and meet industry changes head-on by rising to challenges and creating new and improved
With globalization & liberalization opening up economies and shaping the world as one global village, competition has been on the rise & it is becoming harder day by day for firms to survive & flourish in this competitive environment. And for surviving in such an environment, where many companies go bankrupt any day, achieving business growth is a necessity, not an option. And for achieving growth companies have to diversify to multiple markets & multiple businesses, in order hedge their risks & keep growing & while doing so they have to be very quick, otherwise competition takes over the market & rest is history.
Over the past hundred years management has continuously been evolving. There have been a wide range of approaches in how to deal with management or better yet how to improve management functions in our ever changing environment. From as early as 1100 B.C managers have been struggling with the same issues and problems that manager’s face today. Modern managers use many of the practices, principles, and techniques developed from earlier concepts and experiences.
entrepreneurs have the ability to come up with new ideas in various situations of which one might have never imagined. Entrepreneurs have a curiosity that identifies overlooked niches and they are constantly trying to innovate (Robinson, 2014). They imagine another world and have the ability to communicate that vision effectively to investors, customers and staff.