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Industrial Revolution
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The Industrial Revolution was a change in production in the mid-eighteenth century. It was one that allowed businesses to move from manual hand work to working with machinery, which definitely helped when it came to mass production and specialization. -
The Entrepreneurial Era
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This era was one that lived by the saying "Laissez-faire," which translates to "let do, let go, let pass." The whole idea was to cut off the government's interference with the economy, which was in term called the Free Market. They wanted to run their businesses their own way, and limiting government involvement was the answer. This economy still exists today. -
The Production Era
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Henry Ford began this era with his moving assembly line. This era focused on improving productivity, as well as manufacturing efficiency. Many of the techniques learned during this era are still used today. -
The Marketing Era
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The Marketing Era came into play after WWII, as the shortages increased the demands for goods. The marketing concept was one that focused on the customer and their wants and needs. In order to make a profit from this, advertisments began, which made the product a "must have" to the customer. -
The Global Era
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The Global Era was all about competition and is what gave us the choices we have today. With cheaper competition from other parts of the world, US businesses to increased efficiency, improved quality, and cut costs. -
The Information Era
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The Information Era was extremely important, as it was the beginning of the Internet. Over the years, the Internet has had a huge impact on the economy, Small companies can now compete with large companies, and new business opportunities are now available through networking.
