It can be said that Alfred Chandler (1918-2007) created the study of business history. Chandler concentrated his early research efforts on explaining the growth of large multidivisional firms in the USA and how they helped develop the US economy ( Jones, 2008)
He was a historian, and in 1952 had completed his PhD at Harvard University in. His classic business book, “Strategy and Structure was published a decade later. His theory was grounded on an expansive study of large American firms between the years 1850 and 1920 (Economist)
Alfred Chandler served in the US navy during WWII, where he witnessed, first hand, the undertakings of a large organisation. He went on to teach at Johns Hopkins University and MIT before proceeding to Harvard Business School in 1971, the place where he became the first holder of an endowed chair in business history (Economist)
‘His work on the development of the multidivisional form of organization… and, to a lesser extent, on the emergence of the large-scale vertically integrated enterprise… are still seen as pioneering efforts in the management and in particular the strategy literature.’ (Kipping and Üsdiken, 2008: 97). This essay seeks to appraise the contribution of Alfred Chandler to an assortment of areas in business history and more broadly to management and economics and will be concluded with contemplation on the future significance of his work.
Alfred Chandler’s contribution starts with his research question regarding the factors that contributed to the transformation of large firms in the US economy. More specifically, he researched d how managers develop skills to organise the complicated routines that eventually went worldwide, and how the transformation of small enterprises into large...
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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 domination. Third and lastly, Look at how both men treated their workers and customers in order achieve the most possible profit for their company.
...interpretations of their assumption of millions of dollars. Due to their appropriation of godlike fortunes, and numerous contributions to American society, they simultaneously displayed qualities of both aforementioned labels. Therefore, whether it be Vanderbilt’s greed, Rockefeller’s philanthropy, or Carnegie’s social Darwinist world view, such men were, quite unarguably, concurrently forces of immense good and evil: building up the modern American economy, through monopolistic trusts and exploitative measures, all the while developing unprecedented affluence. Simply, the captains of late 19th century industry were neither wholly “robber barons” or “industrial statesmen”, but rather both, as they proved to be indifferent to their “lesser man” in their quests for profit, while also helping to organize industry and ultimately, greatly improve modern American society.
In Harold C. Livesay’s Andrew Carnegie and the rise of Big Business, Andrew Carnegie’s struggles and desires throughout his life are formed into different challenges of being the influential leader of the United States of America. The book also covers the belief of the American Dream in that people can climb up the ladder of society by hard work and the dream of becoming an influential citizen, just as Carnegie did.
In the late 1800s' economy there were many Americans who considered themselves to be business affiliated, but really didn't understand the full meaning of a business or knowing any financial obligations within a business. However, there was one peculiar man John Pierpont Morgan also know as J.P. Morgan who stood out to be a triumphant entrepreneur of many Americans in the late 1800s U.S. Economy.
Morris, Tom. “If Aristotle Ran General Motors: The New Soul of Business.” New York: Henry
Porter, Michael E. "From competitive advantage to corporate strategy." Harvard Business Review (1987): 43-59. Print. May 2014.
Rockefeller’s impact on society has changed the way a lot of tasks were done. Rockefeller was known as a hero to many enterprising americans. (McCullough 5) He brought his brother, William Rockefeller, into a partnership that built another oil refinery in Cleveland. In 1867, Henry M. Flagler became a business partner of Rockefeller, thus creating the business Rockefeller, Andrews, And Flagler. (Poole 13) In 1868, Rockefeller, Andrews, and Flagler’s business became the largest oil refiner in the world. (Poole 13)
After working at Peabody, Morgan and Company (his father’s London banking branch) and gaining experience as an accountant, J.P. Morgan relocated to J.S. Morgan & Co’s American branch in New York City. Here, he became an representative for his father’s firm. In 1864, J.P. Morgan’s assiduous determination paid off, as he became an member of great influence at Dabney, Morgan and Co. Soon, in 1871, he struck a partnership with the distinguished Philadelphian Drexels to form the new firm of Drexel, Morgan & Co. This firm was later renamed J.P. Morgan & Co. and recognized as the most prestigious and influential institutions of finance in the world that executed numerous consolidations and reorganization. As America’s Industrial Expansion period hit it’s peak, J.P. Morgan established himself as a top banker and financier.
helped create the new economy of capitalism with his book, "The Wealth of Nations", countries
During globalization 2.0, Friedman explains, the world shrunk from medium to small. Companies such as U.S. Steel, Ford Motor Company, Boeing, and I.B.M. spearheaded this era. Being first time movers, these businesses capitalized on new technologies and innovative processes which enabled them to become powerful and influential. They created new markets and reshaped the business landscape. U.S. Steel made it possible to efficiently mass produce high quality steel, Henry Ford invented the assembly line, Boeing developed and produced airplanes, and I.B.M. successfully mass produced computers. This period lasted from the early 1820’s until the year 2000. During globalization 2.0, ma...
The life and career of John Davidson Rockefeller is a story of American economic development that led to great success. Born in 1839 in Richford, New York, Rockefeller built an economic empire. Rockefeller’s first interest in acquiring money first began through his church involvement. He volunteered to raise $2000 for a church debt. Later Rockefeller confessed, "The plan absorbed me. I contributed what I could, and my first ambition to earn more money was aroused by this and similar undertakings in which I was constantly engaged."(1) He began his career as a humble oil business bookkeeper in Cleveland, Ohio and in just seven years rose to control a tenth of the entire United States oil industry.(2)
John D. Rockefeller, born on July 8, 1839, has had a huge impact on the course of American history, his reputation spanning from being a ruthless businessperson to a thoughtful philanthropist (Tarbell 41). He came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is huge, amassing the greatest private wealth of any American in history. Rockefeller’s influence on our country has been both a positive and a negative one, he donated huge sums of money to various public institutions and revolutionized the petroleum industry. Along with all the positives to the country, Rockefeller also had many negative affects as well, including, by gaining his riches by means of a monopoly, often using illegal methods, by giving others a reason to frown upon capitalism, and by hurting smaller businesses.
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard business review, 86(1), 25-40.