MGT 101 History
MGT 101 History 101
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This 0 page Class Notes was uploaded by Samantha jose on Thursday February 4, 2016. The Class Notes belongs to 101 at Washington State University taught by Maggie Reed in Spring 2016. Since its upload, it has received 40 views. For similar materials see Introduction to Business in Business, management at Washington State University.
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Date Created: 02/04/16
History 02062016 Management 101 Introduction to Business What is Business 0 The activities connected with the production movement acquisition and exchange of goods and services in a market for a profit 0 An Organization that provides goods or services to earn profits The Mother of All Misrepresented Quotes 0 Henry Ford s History is bunk So Does History Matter 0 History is inescapable All people and peoples are living histories Understanding the linkages between past and present is basic for a good understanding of the condition of being human 0 This includes the history of business and business activity Major Developments 0 Establishing the foundation for 20th and 21 3 century America we can identify these major developments 0 Industrialization o Urbanization 0 Immigration Business History in the US o The Colonial Era Approx 1607 1800 0 Main Focus Discovery expansion power independence industrialization rural to urban shift The Colonial Era o The 16th century was the age of an extremely competitive economic philosophy that pushed European nations to acquire as many colonies as they could 0 As a result for the most part the English colonies in North America were business ventures 1606 King James divided the Atlantic seaboard in two giving the southern hald to the London Company later the Virginia Company and the northern half of the Plymouth Company 0 Both were business ventures The Protestant Ethic aka the Protestant Work Ethic the Puritan Ethic and the Puritan Work Ethic The protestant Ethic urges Hard work Perseverance Selfcontrol amp sobriety Selfreliance Saving amp planning ahead Honesty amp observing the rules of the game Industrial Revolution 0 The term originally referred to the developments that transformed Great Britain between 1750 and 1830 from a largely rural population making a living almost entirely from agriculture to a towncentered society engaged increasingly in factory manufacture Machines that would do the job of humans The Military Industrial Complex c As an aside 0 The concept of the Military Industrial Complex 0 The term was coined by Dwight D Eisenhower in his presidential farewell speech in 1961 o It refers to the relationship between government and the money it spends on maintaining the equipping a standing military 0 This includes the money spent on the Department of Defense together with the contracts given to companies in the defense industry and monies spent in defense industriesrelated areas 0 This spending represents a significant input to the economy as a whole and has a trickle down effect in to areas that are not defense related Spending on military buildup for example prior to armed conflict can act as a significant boost to the economy Business History in the US Mid18003 to about 1900 0 Main focus increasing industrialization expansion the move west Entrepreneur D John Deere agricultural Equiptment D John D Rockefeller oil D Thomas Edison Henrv Ford and Harvey Firestone 1896 o early to mid19003 OOOOOO 0 Main focus reducing costs improving productivity and manufacturing efficiency Mid to late 19003 0 Main focus increasing revenues increased competition o A shift in focus from manufacturing to services 0 Major shift in technology
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