Preview

The Progression of HI

Satisfactory Essays
Open Document
Open Document
791 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Progression of HI
EMERGENCE OF INDUSTRIAL AMERICA

Western mining – Wealth of ____________________________________________ necessary for industrial production [Silver – NEV/Klondike gold/Mesabi Range
Immigration – Immigrants (southern & eastern Europe) provide a large _____________ force
Gov’t _________________ & tax concessions to rr’s – Transport raw materials & finished products, as well as settlers, to create national markets
Advances in communication – Telegraph, telephone, typewriter, & mail service improved
Corporation charters – Access to investment capital & protection of limited liability [Captains of Industry &/or Robber Barons]
_____________________________ attitude of gov’t – Gave businesses considerable latitude in determining their policies & procedures w/o regulation
Bessemer process – Allowed for the less expensive conversion of iron to _____________, a stronger & less brittle material which was necessary for construction of rrs & heavy equipment
New sources of power – Coal & oil are inexpensive sources of fuel [Rockefeller]
High tariffs – Republican administrations especially sought high import taxes to lessen foreign competition
Yankee ingenuity – US inventors, protected by gov’t patents: electric lights, vulcanized rubber, telephone, typewriter, steel plow, & modern press
Entrepreneurs – Contributed enormous amts. of capital & introduced new policies & techniques that spurred US’s industrial growth
Vertical integration – Pioneered by ____________________ & US Steel: All of the various business activities needed to produce & sell a finished product (procuring the raw materials, preparing them, producing them, marketing them, & then selling them) would be done by the same company.
Horizontal integration – Strategy of gaining as much control over an entire single industry as possible, usually by creating trusts & holding companies: Rockefeller & ______________________ (92% at one point in time)
National markets – Created huge demand for industrial

You May Also Find These Documents Helpful

  • Powerful Essays

    History Opinion Essays

    • 1048 Words
    • 5 Pages

    What set the new industry apart from that of older America was a scale of invention, creation, and proper efficiency of resources. Industrialists started with their thoughts and made creations possible in order for America to flourish. New technologies made it possible to use resources in ways that were undreamed of before. Industrialists made railroads, boats and transportation systems possible to assist in trade and transporting goods, hiking up America’s prosperity. Industrialists, along with new technologies, made natural resources more valuable with new distilling methods and invention. Things such as the light bulb, petroleum, and gasoline have been valid in the growth of America and wouldn’t be available to us without the work of industrialists. Unlike workers, they helped create factories and assembled research labs that aided gifted inventors and produced new products that helped boom the economy. It’s their creativity, inventiveness and dedication that caused the United States to grow into what it is today. Industrialists aided mass production, making machinery and assisting higher productivity and higher profits, helping to aid the growing economy. Although there were some set-backs and dangers from these inventions and machines,…

    • 1048 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Captains of Industry

    • 1343 Words
    • 6 Pages

    In the late 1800s and early 1900s, during the climax of the American Industrial Revolution, there was a small group of men who owned the major businesses and were leaders of their industries. They owned factories, railroads, banks, and even created company towns for the sole purpose of housing their workers. Due to the efforts of these few men, the U.S. economy became the envy of the world, and America became a leading world power. They provided the public with products that were in high demand for reasonable prices, and opened their markets to countries overseas. Although many people believe the early industrialists were Robber Barons who exploited the poor, these great men were truly Captains of Industry who created new ways of doing business, and provided products and services to the public; moreover, they were generous philanthropists who contributed much to society.…

    • 1343 Words
    • 6 Pages
    Better Essays
  • Satisfactory Essays

    Chapter 8 Quiz

    • 912 Words
    • 4 Pages

    3. Under a horizontal merger the assets of two firms that operate in the same market are put under a single ownership.…

    • 912 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    As far as the economy is concerned, entrepreneurs play a vital role in the creation of wealth for people. They own and operate their own small businesses sometimes growing them into larger corporations that employ many people. At least some part of the economy is stabilized based on the success of entrepreneurs and are valuable to the success of the current economic conditions in our country.…

    • 623 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Vertical integration is a business growth strategy for economics of scale. It is typified by one firm engaged in different parts of production example; growing raw materials, manufacturing, transporting, marketing, and/or retailing to expand business in existing market for the firm. It can function in two directions both forward integration and backward integration.…

    • 1206 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    1803: Jean-Baptiste Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.…

    • 1980 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    The Studies of Hi

    • 1191 Words
    • 5 Pages

    Trinity Test of the Manhattan Project The Manhattan Project was a research and development project that produced the first atomic bombs during World War II. It was led by the United States with the support of the United Kingdom and Canada. From 1942 to 1946, the project was under the direction of Major General Leslie Groves of the US Army Corps of Engineers. It began modestly in 1939, but grew to employ more than 130,000 people and cost nearly US$2 billion (the equivalent of about $26 billion now). Although it operated under a tight blanket of security, it was penetrated by Soviet atomic spies. The first device ever detonated was an implosion-type nuclear weapon in the Trinity test (pictured), conducted at New Mexico's Alamogordo Bombing and Gunnery Range on 16 July 1945. Project personnel participated in the Alsos Mission in Europe, and in the bombing of Hiroshima and Nagasaki. After the war the Manhattan Project conducted weapons testing in Operation Crossroads, developed new weapons, established the network of national laboratories, supported medical research into radiology, and laid the foundations for a nuclear navy. It was replaced by the Atomic Energy Commission and the Armed Forces Special Weapons Project in 1947. (Full article...)…

    • 1191 Words
    • 5 Pages
    Satisfactory Essays
  • Satisfactory Essays

    A business becomes horizontally integrated if it acquires another business that either supplies inputs to it or purchases from it. ____…

    • 468 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Hahah

    • 646 Words
    • 3 Pages

    I will define and explain the Horizontal and Vertically Integrated systems used by Independent Spirited and Hollywood Co’s with case studies from Universal (Hollywood), Warp (Independent Spirited)…

    • 646 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Wheel chair case

    • 555 Words
    • 3 Pages

    *The following outlines the big chapter heading for which you will or will not be responsible for in the test.…

    • 555 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Managerial Economics & Business Strategy Chapter 6 The Organization of the Firm Michael R. Baye, Managerial Economics and Business Strategy, 5e. Hakan TASCI McGraw-Hill/Irwin Elon University rights reserved. Departmentby © 2006 by The McGraw-Hill Companies, All rights reserved.…

    • 947 Words
    • 4 Pages
    Satisfactory Essays
  • Better Essays

    Collaborative Arrangements

    • 1658 Words
    • 7 Pages

    To secure vertical and horizontal links – There are potential coast saving and supply assurances from vertical integration. However, companies may lack the expertise and resources to wholly own all activities. Horizontal links may provide “economies of scope” in distribution. By having a full line of products to sell, “thereby increasing the sales per fixed coast of a visit to potential customers.” (CH14, pg. 526)…

    • 1658 Words
    • 7 Pages
    Better Essays
  • Powerful Essays

    OUHK 2013 Tutorial 3

    • 1877 Words
    • 13 Pages

    B399 Management Policy and Strategy Tutorial 3 Kent Ip OUHK Course Overview Part 3 of Textbook Corporate Strategies (Chapter 6 – 11) Chapter 6 Vertical Integration Chapter 7 Corporate Diversification Chapter 8 Organizing to Implement Corporate Diversification Chapter 6 Vertical Integration 6.1 What is Corporate Strategy? Corporate Strategy is a firm’s theory of how to gain competitive advantage by operating in several businesses simultaneously 6.2 What is Vertical Integration?…

    • 1877 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    Entrepreneurs - these are the people who are either starting a new or accelerate an existing business, they play a central role in the development of capitalism, because they are new products, new production methods, new markets and new forms of organization, speaking thus, as agents of change in the economy and society. So entrepreneurs are promoting several factors acting at the same time, stimulate economic growth.…

    • 1167 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Economic Progress

    • 275 Words
    • 2 Pages

    * Colonial mentality is an area of study and a conceptual theory in Cultural anthropology that refers to institutionalized or systemic feelings of inferiority within some societies or people who have been subjected to colonialism, relative to the values of the foreign powers which had previously subjugated them through colonization.[citation needed] The concept essentially refers to the acceptance, by the colonized, of the culture or doctrines of the colonizer as intrinsically more worthy or superior. The subject matter is quite controversial and debated…

    • 275 Words
    • 2 Pages
    Satisfactory Essays