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Industrial Revolution The Entrepreneur and the Growth of Big Businesses Unit 1 Industrial Revolution.

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Presentation on theme: "Industrial Revolution The Entrepreneur and the Growth of Big Businesses Unit 1 Industrial Revolution."— Presentation transcript:

1 Industrial Revolution The Entrepreneur and the Growth of Big Businesses Unit 1 Industrial Revolution

2 INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs III.Labor IV.Westward Expansion V.Empire LaborEntrepreneur Product or Service LandCapital

3 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

4 INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs III.Labor IV.Westward Expansion V.Empire LaborEntrepreneur Product or Service LandCapital How would you maximize your profits?

5 The competitive edge INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.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

6 Robber Baron or Captain of Industry? OPTIC Analysis Overview Parts Title Inter-relationships Conclusion INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.Empire

7 The Empire Builders INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.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?

8 New Gilded Age? INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.Empire Spread of Industry Then Now Income Gap Then Now

9 INDUSTRIAL REVOLUTION I.Overview II.Entrepreneurs A.Big Business B.Ideology III.Labor IV.Westward Expansion V.Empire

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