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Corporation INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.Empire A business with the legal status of an individual Owned by many people, called shareholders Decision-making is done by a board of directors Managers/Corporate officers run the daily operations
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Industrial Revolution
The Entrepreneur and the Growth of Big Businesses
Unit 1Industrial Revolution
INDUSTRIAL REVOLUTION
I. OverviewII. EntrepreneursIII. LaborIV. Westward
ExpansionV. Empire
Labor EntrepreneurProduct
or Service
Land
Capital
Corporation
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
• A business with the legal status of an individual• Owned by many people,
called shareholders• Decision-making is done by a
board of directors• Managers/Corporate officers
run the daily operations
INDUSTRIAL REVOLUTION
I. OverviewII. EntrepreneursIII. LaborIV. Westward
ExpansionV. Empire
Labor EntrepreneurProduct
or Service
Land
Capital
How would you maximize your profits?
The competitive edge
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
• Horizontal integration• Consolidation of a product/service to
decrease competition and increase the economy of scale
• Trusts: Consolidation of competing companies under a board of trustees.
• Cartel: competitors agree to limit production to hike prices
• Monopoly: complete control over an industry.
• Vertical integration• Consolidation of the supply chain to
increase efficiency
Robber Baron or Captain of Industry?
OPTIC Analysis
OverviewPartsTitleInter-relationshipsConclusion
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
The Empire Builders
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
• Captains of Industry or Robber Barons?
From left, James J. Hill, Andrew Carnegie, Cornelius Vanderbilt, John D. Rockefeller, J. Pierpont Morgan, Jay Cooke or Edward H. Harriman, and Jay Gould
What Business Industry? Strategy?
Entrepreneur
Philanthropy Robber Baron/Captain of Industry?
New Gilded Age?
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
• Spread of Industry• Then• Now
• Income Gap• Then• Now
INDUSTRIAL REVOLUTION
I. OverviewII. Entrepreneurs
A. Big BusinessB. Ideology
III. LaborIV. Westward
ExpansionV. Empire
