Business Structure Of The United States

During “the 19th century, when the Industrial Revolution triggered a series of radical changes national cultural fabric of state societies, the pressures of modernization were also transforming the way of life in traditional communities of peasant and other rural folk” (Haviland et al. 349). One of these transformations brought about by the Industrial Revolution is the invention of the factory. The factory, like capitalism, originated in England, but eventually made its way to America, specifically the region of New England. The factory caused artisans to lose autonomy, now forced to work

After gaining enough knowledge on the types of business structure, business owners can proceed to the process so that their plans of owning a business will turn into reality. After reading several resources, the process will be divided into five stages. The first stage is the planning and research. This involves developing viable business ideas, knowing the target customers and possible competitors, searching for the right location, thinking what will be the business name, and marketing strategy. In this stage, a business plan should be made. Business Link (2016) refers, “business plan as a document that defines why you’re in business, your goals, and how to achieve those goals and it also covers all major aspects of the business, including

In the early to mid. 19th century, the world came to life with the introduction of machines that could create products in hours, compared to what it would take skilled craftsmen days to produce. These marvels began in Europe but soon found their way to the American shores. The very first textile mill was produced by an apprentice named Samuel Slater in 1790 after returning with the English secrets of the textile machinery still buzzing in his head (Wallace, 1985). Soon more factories began to rise up armed with the new technology. With the means to produce more products, railroads being built to ship vast amounts of goods between states and the mass amounts of wealth to be made during this revolution, what were once small rural farming towns

Horace Taylor puts his opinion into prospective with this political cartoon. Businesses became more powerful than the government itself, which was too afraid to interfere in the exploitation. One such exploitation was the creation of corporation. Corporations were designed to limit the liabilities of its shareholders and thusly minimize the loss of capital by criminalizing only the legal entity, rather than its underlying workers. Thusly, legal suits and such became nearly useless against the incorporated. Additionally, as corporations grew unchecked, they found other ways to control competition. The railroad industry, the first big business of America, used pools and rebates to maximize profit but decrease competition – a principal not part of capitalism. Progress was slowed by the lack of competition, but the pursuit of wealth helped maintain it or a time. The trust was similar to a pool, but trusts were far more hierarchal and were used by corporations rather than regions. Having all the power in the world, businesses could grow and do whatever they wanted without worrying about the government ceasing their progress.

For most employees in the late 1800s to the early 1900s, the job that you were most likely to have was something with Industry, as a labor worker, or a secretary. There was a definitive social pyramid for the Industry, though. The boss, the leader of the company and owner, then most likely his personal assistant and the secretary, and then the worker. Was this a good or a bad thing? It was a bad thing,

The factory system in the United States began to grow before the American Revolution with shops that made wares to order (Clark 14). In the mid seventeen hundreds, farmers and plantation owners would give raw materials like cotton or wool to other families to turn into things like thread and yarn for a share of the profits. This was called the “domestic system” (Sands 4). With this, private capitalism, or the idea that you get to keep what you earn, developed and reinforced the want of cheap labor.

Before Revolutionary America, there were a large majority of people who made a living as farm owners, tenants, or hired hands, in which unskilled labored supported such the agricultural workers. (Carrell & Heavrin, 2013). Also, the craftspeople were carpenters, shipwrights, sailmakers, weavers, masons, barrel makers, glass makers, tailors, and shoemakers. It has further been mentioned that prior to trade unions, these workers joined together to maintain monopolies. The first craftspeople were known to be free laborers, which were immigrants who paid their way to the New world, in which they learned certain trades and passed them along to their children (Carrell & Hearvin, 2013). It has also been stated how indentured servants and slaves who

The market and republican was good to the master artisan. Most of the journeymen were working for a master artisan so they were getting money to be a self maker.”Basic to that mental set was the proposition that master and wage earner were different and opposed kinds of men. In 1829 an editor had occasion to use the word boss, and followed it with an asterisk. “A foreman or master workman,” he explained. “Of modern coinage, we believe.” Master artisans were starting to move away from having a life connected with their journeymen. They started to seem like unequal. The journeyman didn't even live in the same block as a master.The master ever stop drinking with the wage earners.The republic were making the master more superior to their workers where it always should have been. With the market going how it was going and the newly created middle class put a great cap between the worker and the master. The impact that the market had on the master was so great. It stop the master from doing anything social with their work. Master became more of a boss then a

Daniel Feller points out that these corporations became “a key organizational tool of expanding American economy” (36). The protection that corporations offered were usually reserved for entities that promoted the general welfare such as school, charities, and churches. States began to look at other public interest entities in the corporate charters. Ohio, for example, granted many charters between 1816 and 1826 to include some for-profit corporations. These business included facilities such as bridges, water companies, and turnpikes in which investor gained profits from tolls and user fees ( Sellers 45). This development showed the states willingness to foster development as well as raise revenue. The first real business corporation was the Boston Manufacturing Company in 1813 (Feller

Before the revolution there was a system of masters, apprentices, and regular workers doing all the manufacturing of goods. This system promoted a ‘hands on’ approach to the relationship between management/master and those under his employment. This system produced less than the eventual system that would be implemented during the market revolution. The new system which employed more people, in several

Between 1860 and the 1910 the United States population tripled. Because of this, industry was in high demand for skilled and unskilled workers, and the abundance of immigrants helped keep it supplied. This helped the empowerment of bosses of the leading industries the Unites States. Working in a 17th century factory did not have ideal working conditions, on average, a 12 hour work day was not uncommon, as well as child labor. Often time’s, factory owners neglected worker rights and safety in factories leading to accidents, such as chopped off fingers, and other injuries without compensation. If a worker was seriously injured or refused to work they were gladly replaced with another.

One of the themes in Thomas McCraw’s book American Business Since 1920: How It Worked is mastering centralized control through decentralized management. As the business world rapidly expanded competition for market share between the larger companies increased. More task management was necessary in order to delegate within the businesses as they expanded. The market was also changing and as an answer to that some companies implemented a revised version of traditional management; decentralized management (McCraw, 2009).

There was a lot less laws about the way the business needed to be run, as well as the treatment and equality of employees and their rights. With these big differences entrepreneurs needed different skills and qualities because they didn’t have high standards of work place relations to live up to. Following their dreams of wealth, success and personal fulfilment, entrepreneurs of the 19th century mirror their modern counterparts. Following a vision, taking calculated risks, controlling costs and giving back to the community all serve to enhance the likelihood of a successful outcome. Like all triumphant innovators, these individuals pursued their goals with a single minded purpose and a passion that is as relevant today as it was two centuries

Business has always been a part of American history, but big business did not come into play until later in the life of our nation. To understand the history of big business in the US, one needs to understand the shift that occurred between the late eighteen hundreds and the early nineteen hundreds. In the late eighteen hundreds, business mostly comprised of farming. To own a business meant owning land that could be cultivated, harvested, and grow produce that could be sold for profit. The small business of farming dominated the culture, and there were very few big businesses in that period of time. However, in the short span of roughly fifty years, the cultural norm of business drastically changed. Large corporations emerged and took over the nation’s sales and profits. In that short amount of time, America’s citizens moved to the cities and went to college so they could participate in the big business culture. Big business became a livelihood for many Americans.

Recently, I have wanted to learn more about elements of America's economy. I think it is astonishing that America's largest companies and corporations have only existed for a remarkably insignificant amount time in contrary to the vast duration of time humans have inhabited the Earth. I have decided to dig down and uncover our nation's roots of business and the growth of our country through the use of scholarly articles. In this paper I am going to analyze two secondary source scholarly articles. The first is “Trade, Distribution, and Economic Growth in Colonial America” written by James F. Shepherd and Gary M. Walton. This piece was published in March of 1972. The other source is “The Entrepreneurial Spirit in Colonial America written by Edwin J. Perkins. This piece was published in the Spring of 1989.