US Since 1877
US Since 1877 HIST 2112
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This 1 page Study Guide was uploaded by Michael Abbott on Monday October 12, 2015. The Study Guide belongs to HIST 2112 at Georgia College & State University taught by Craig Pascoe in Fall. Since its upload, it has received 37 views. For similar materials see /class/221921/hist-2112-georgia-college-state-university in History at Georgia College & State University.
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Date Created: 10/12/15
Pg 124 Reading Questions 1 a Why were railroads so important to the development of big business in America 939 9 N m 939 9 Railroads were the first to develop modern management methods Also they provided transportation for both goods and people leading to growth of business and higher concentrations of people and business in cities Why do historians call railroads quotpioneers in big businessquot They were the first to divide the company into departments they developed cost accounting and they held management accountable all of which led to better efficiency in business What did manufacturing firms learn from railroads in terms of new management methods Bureaucratic methods having a group in charge vs only the owner separation of policy making and operations middle management and financial reporting Why did big business develop in American manufacturing in the late 19th and early 20th centuries Advances in mass production and the use of low cost high volume strategies What is vertical integration and why was it so important for large manufacturing firms in America Vertical integration occurs when a company acquires control of most or all parts of the company s processes sources of raw materials transportation methods etc How did smaller companies persist in some areas of industry Specialized products niche markets ownerworker relationships customer service How did they competecoexist with their large counterparts Owners remained on workers level no corporations so they had a personal feel which customers liked specialty products in niche markets What is meant by quotniche marketsquot and quotspecialty counterpartsquot Niche market appealing to a very specific market seasonal regional etc
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