![]() The growth of big business was definitely a major result of the Industrial Revolution. The company owners of these monopolies were raking in all of this money whereas the working class were stuck working in the factories, barely making any money, and putting their lives in danger. Even early computers were first invented during the early years of the Industrial Revolution. Many of the inventions that came out of this period of history are still used today, such as electrical grid management, the telephone, and clothing manufacturing processes. This was a problem as more company owners only cared about the amount of money they were making and not the quality of the service.Īs more and more of these big businesses popped up, a greater and greater imbalance between the rich and the poor was formulated. All it took was one good idea that could be mass-produced in some way. Big business firms broke themselves into different functions, or. Monopolies could charge higher prices or provide poor service because consumers didn't have any other choices, as Standard Oil owned ninety percent of America's oil. Big business firms were institutions that used management to control economic activity. Standard Oil, Rockefeller's company, became a monopoly. Their companies bought smaller companies, getting rid of competition. Carnegie started a steel company and Rockefeller started an oil company. In corporate jargon, the concept is commonly known as enterprise, or activities involving enterprise customers. As a term, it describes activities that run from 'huge transactions' to the more general 'doing big things'. Rockefeller used new inventions to start their own companies. Big business involves large-scale corporate-controlled financial or business activities. People such as Andrew Carnegie and John D. ![]() Untitled document - last moduel history notes Related. Heres a basic idea on what he wants us to have on the exam for the semester. However, the growth of big business created a vast imbalance between the rich and the poor.Īs new machines and technologies were being invented, people started to use these to their advantage, creating their own businesses. professor hansen the rise of big business history 1053 what is big business throughout almost 22 million businesses throughout america, 500 of the top. As this occurred, business started to grow, driving industrialization and helping to foster the belief that America was the "land of opportunity" where anyone who worked hard could become rich. In the 1800s, the United States began to industrialize, transitioning to new manufacturing processes.
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