American Entrepreneur Ch 4, 5, 6
The following abstracts are based on chapters 4, 5 and 6 of the book, American entrepreneur: the fascinating stories of the people who defined business in the United States by Schweikart Larry and Pierson Doti.
Chapter 4
The American history and stories of American entrepreneurship underwent what was popularly known as entrepreneurial explosion, during the early years of 1820s to 1950s. During this period, entrepreneurial businesses sprung up in a remarkable growth rate compared to the modern entrepreneurial business growth rate. The period between the years 1820 and 1850 marked a turn around for America’s growth in industries and infrastructures. The entrepreneurial explosion age marked a new start for new roads construction. Initial narrow paths were replaced by better roads that were used by automobiles and engine vehicles. Another great phenomenon that gained popularity during this time was the construction of railroads (Schweikart & Doti, 2010). However, the construction of both roads and railways needed great minds of entrepreneurs who had located the resourceful regions in America and had to find means of transport to such regions. This oversaw the need of better roads than the initial turnpikes. The concept of rail transport which by then was common in Europe was adopted by entrepreneurs who saw an opportunity to exploit the regions that had vast natural resources. As business opportunities grew, the demand of faster means of communication for business enterprises emerged. This consequently resulted to the invention of the pony express, which was in charge of communication. Business information was telegraphed and this eased the cost of business operations. Entrepreneurship explosion period also witnessed the emergence of steam power. Ships which wee previously powered by coal and manpower were relieved by the invention of steam energy. This invention of steam power marked another milestone in transport revolution in America, as ships became another mode of transport for businesses. In general, the entrepreneurship explosion phenomenon not led to vast growth of business, but also expanded business opportunities by modern inventions. These modern inventions ranged from modern communication technology, new transport infrastructures and energy (Schweikart & Doti, 2010).
Chapter 5
Business in America could not have prospered if it were not for better entrepreneurs who had better skills of management. Between 1850 and 1880, America experienced the concept of business management by the emergence of new managers. By 1850, much of America was controlled by the private sector courtesy of the entrepreneur businesses. The economy was appealing and industries were in great demand of labor force. However, with the indifference in of skills in various business operations capacity, the labor force started to demand for recognition and complementarities from business owners. These demands for recognition were both started by people who had knowledgeable expertise in business management and women who wanted to be involved in businesses. In this context, managerial positions were to be created for the purpose of recognizing the women workforce and complementing the hard working workers. An example of such a situation is when entrepreneurial inventions by men and women were not rewarded. Great brand names for products and services were invented by common labor workers who were initially not rewarded by business owners or corporations. Later, their recognition was the creation of managerial posts to ensure they oversaw the growth and development of their inventions. Some of these me and women became program managers, factory foremen, operation managers and marketing managers. However, the rise of managers was influenced by the need to reward great innovators in the business sector, also there was a need to attract more inventors in businesses as businesses became more competitive and these inventors could only be allocated managerial positions. Another factor that influenced the rise of mangers was the escalating growth in entrepreneur business that required more workforces, which that ultimately needed a centre of control and authority for purposes of a coordinated workforce in business organizations (Schweikart & Doti, 2010).
Chapter 6
Entrepreneurship history in America cannot be discussed without acknowledging the state of entrepreneurship during the upheaval age. This age was between the years 1850 and 1880. The America business history was not solely capped by the success of the entrepreneurship, but at some instances the business had to thrive under various turbulent episodes. This period was marked by civil war, and what was referred as racial discrimination. The black race in America could not join in business activities as much of the business operations were controlled by the colonial government. However, the control of the business by the colonial government created a political interference in business and these created a lot resistance from the popularly known Yankees. Later the problem was to be resolved by the Abraham Lincoln when he proclaimed war against business unions that were loyal to the government. This war marked a need of proper business governance as business was severely hurt by Lincolns emancipation call. However, the entrepreneurship business concept survived in later years, after the end of civil war. An example of business survival and success was the continued use of technology. Technology and use of machinery was popular in Britain and when the concept was transferred into America during the upheaval age, more industrial processes took place. An example of such processes was the processing of tobacco. In general, the age of upheaval did not suppress the growth and development of entrepreneurship business in America (Schweikart & Doti, 2010).
Reference
Schweikart, L., & Doti, P. (2010). American entrepreneur: the fascinating stories of the people who defined business in the United States. New York, NY: AMACOM Div American Mgmt Assn.
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