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Colonial Era-
Colonial Era: Pre-Colonial to Civil War Era. Rural and agricultural production. Towns were small and they functioned as marketplaces for farmers. Economic focus centered on rural areas. Families lived and worked together.
-focused on agriculture as the hot occupation; farmers were considered wealthy; not anymore mostly doctors, lawyers, etc
-family production was key; now its more independent, woman has a job and male has a different job -
Production Era- 1800-1920
1800's - 1920's. Goods produced in mass. Working conditions and business ethics regarding children and workers often sketchy. More goods were made due to the increasing demand for manufactured goods. Assembly lines were created and efficiency in production was everything.
-Children work in factories; now kids are left to be kids
-Assembly lines key for production; now mostly operated by machines and not actually workers -
Industrial Entreprenuer
Late 1800's - Western Expansion, Gold Rush. Business did much to advance the us business system and raise overall standard of living of its citizens. That market transformation, in turn, created new demand for manufactured goods. Raised capital, almost always locally from relatives, friends or members of their church; had to understand the latest methods for building & powering machinery & the most up-to-date techniques for performing the work
-Lots of people in poverty
-Religion key in this era -
Industrial Revolution
Post Civil War - late 1800's. Focus moving from entrepienuer skills to an assembly line type atmosphere. factories profited from the savings created by large scale production, and increasing machine support. Specialization of labor, limiting each worker to a few specific tasks in the production process, also improved production efficiency.
- business are more of a mix of bigger, wealthier companies and entrepuenuer based business companies
-Increase need to multitask within a job; more tasks -
Marketing Era
1920's - 1980ish. Technology allowed for companies to get the word out about their productsConsumer orientation was discovered and people began to advertise to appeal to certain groups or people businesses began to analyze consumer desires before beginning actual production.
-little advertising, word of the mouth
-began ideology of appealing to consumer PRIOR to production -
Relationship Era
1980ish - present day. Companies look for ways to engage clients and build relationships that garner loyalty and return business. Companies realize that keeping a customer is more cost effective and business wise than trying to attract new customers.
- Keeping customers compared to interesting new ones
- Key to build a relationship with your consumer