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[kbivw142]

Before the outbreak of World War I, the U.S. economy has [by Robert T · Aifulite (Robert T. Averitt) to say] the formation of a center in the central part of the economy, all closely linked to large companies in monopolistic seller operating in oligopoly, where price competition has almost completely lost its role in the maintenance of a large company market share in their respective interest and efforts ensure its long-term growth. For this reason, they continue to push forward after the acquisition of raw materials to extend the former to extend to the sale of part of the integration activities, and efforts to improve its consumer brand loyalty. On the contrary, those in the external economic activities of enterprises are very small but still in the market competition, they rarely have the ability to implement the vertical integration, or across the country promote their brand, for them, their eyes generally shorter light, to keep production costs low is the best way to allow the company to survive. economic activity will be divided into two levels of center and periphery is a relatively recent situation. In addition to the railway industry, the large enterprises until the 19th century, the last 25 years began to appear, then, as technology advances,

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, many important industries in business has grown, with the expansion of business scale, their behavior a corresponding change. Once the company relative to the market, enough to affect the expansion of their own (and others) product sales price,

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, the competition between them will become fierce, at first every business are trying to reduce prices to damage against the opponent and the opponent to the cost increase their market share. However, as firms increase the impact and dependence, price competition will be limited by the objective. Many companies try to cut prices by collusion to resist all attempts failed. Finally, they tried a formal merger. Although many of these attempts have failed, but those most capital-intensive industry giants not only in the final victory, but also in the next few decades, a long time to dominate the market. This chapter first discusses the early 19th century, the structure and dynamics of SMEs, SME associations during analysis of the way business activities and relationships between such enterprises and the technological change process. and then the railway industry in the early development of large enterprises and the 19th century the last 25 years, the development of other big companies are described. Finally, this chapter will point out where there are large companies, where management and coordination will be replaced by the market to regulate the allocation of resources. early industrial development before the American War of Independence, the British North American colonies of industrial production is negligible, then the manufacturer can match with the British industry is the only shipbuilding industry, the product can enter the overseas market in the colonies and to the raw material processing industries, such as New England rum and flour manufacturing and Pennsylvania crude iron manufacturing. Most of the colonial period, manufacturing activities are mainly small-scale manual labor, these small craft were mainly based on local consumer orders for production. For example, farmers are mainly engaged in home production, the majority of food and clothing to meet their own needs. Even so, people should not be overlooked colonial economic development. northern colonial port city to develop a large number of Canada, Europe, West Indies and Africa for trade merchants. business activities they are engaged in the process of getting a significant amount of business knowledge and the accumulation of capital. Also, looking for a new supply of goods and the continued development of new products under the weight of the market, entrepreneurs, business people's talents have also been tempered. The port city has also trained a large number of skilled craftsmen and production of knowledge. It is this confluence of two populations contributed to the early 19th century, the country's industrial development. In fact, traders invest early in the manufacturing sector has already begun in the colonial period, the early businessmen together with the goods arrived in England to ballast the sale of timber and crude iron to get some additional benefits, for business people often help finance local iron foundry in order to ensure their own needs for crude iron. businessmen to investment in manufacturing, so goods from their production has been engaged in a profit. which those engaged in the syrup and the rum trade, traders, such as Rhode Island, Providence (Providence) Brown family was also established their own winery. Brown family also established the whale oil candle factory, processing of local whaling industry products. American War of Independence began half a century, merchants engaged in manufacturing activity has been significantly increased. after independence, with the reconstruction of international trade, foreign trade has become more risk than the colonial period and even more difficult. Business people not only lost the original trade routes and as members of the British Empire enjoyed trade protection, but also face competition from France and Spain, the former allies of discrimination. to enter the European market is limited and the West Indies, the East opened up new routes and distance and cultural differences exist on a huge risk. until the French Revolution and the Napoleonic Wars, American business people to act as a neutral carrier for the role and benefit from trade but also was re-pre-war level of profitability. some merchants have been selling their products through its investment in the industry to expand investment in the manufacturing sector, compensation trade, income reduction. In this way, Whitaker, Maryland Iron Industry Company (Whitaker Iron Company) begins with the Baltimore (Baltimore) iron agents get the investment they need, want, Massachusetts Mountain Iron Industry Company (the Mount Hope Iron Company of Massachusetts), where traders from Boston to obtain the same assistance. Similarly, Jones and Laughlin Company of Pittsburgh (the Jones and Laughlin Company of Pittsburgh) is the lack of capital in the two steel producers think Benjamin and Francis Lo (Benjamin and Francis Lauth) and the two had just set foot in iron products trade businessman Samuel Benjamin Jones and Kiel (Benjamin Jones and Samuel Kier) in cooperation to develop. in other industries, entrepreneurs, businessmen also play a role. For example, in Massachusetts shoe industry, traders early in the 19th century began to hire local shoemaker for their production. They soon realized that the division of labor to reduce costs and increase production. to the 1830s, they have developed a system to store in a major cut in the leather, then cut a good leather bonding in the textile industry, business people not only re-organization of production, but also some of the important innovations the UK to the United States. An example of this for the first time in 1789, Rhode Island merchant Moses Brown (Moses Brown) to convince the former plant manager from England Samuel Slater (Samuel Slater) to help him establish a textile mills. To this end they reached a treaty, according to treaty, Brown agreed to one of his family to bear expenses for the establishment of textile products sold in the market, but according to Slater about the party and supervise the operation of construction machinery and equipment. Although Brown introduced in the mechanization of textile machines on this matter the United States has played a pioneering role, but he and his family to participate in the business of the mind is confined to commercial purposes. 1815, Francis C · Lowell (Francis C. Lowell) and Boston associates (the Boston Associates) established the first textile mill and spinning and weaving the two together, since from the time when merchants began to shift manufacturing to the business. Lowell had visited in person to the United Kingdom and the textile mill where his special attention to the observation of the United States that have not yet introduced power looms. back to New England, he has developed with the mechanic one of their own looms. In addition, he and his business partner not only for business financing, but also personally planning the construction business, even including the establishment of canteens, churches and schools, including a complete system to be able to attract women to plant work. While the early merchants in promoting industrial development plays an important role, but the craftsman also plays an equally important role. If you do not help the local mechanical workers, either Brown or Boston, a joint venture company can not get that kind of success. In the other case is an important pioneer craftsmen. For example, Berkshire mills (Berkshire paper industry) is the one called 泽纳斯克兰 (Zenas Crane) of skilled workers to set up the paper, and he to find a suitable plant location west migration. 19 the early 1900's, Pittsburgh's three most important iron plant by Zhu Ni Yata from Pennsylvania (Pennsylvania Juniata) region over the immigration of craftsmen or factory owners to establish. these early industrialists and family members to use their resources to provide funding for the plant and re-invest profits into the enterprise. business people but also for the financing of these enterprises played an important role. manufacturers in addition to the funds and equipment, but also need working capital to purchase raw materials, hiring workers, the delivery of goods to the market and store inventory. These expenses are not a small number, often beyond the working capital funds needed for plant and equipment, and business people is an important provider of funds. sale of raw materials to manufacturers traders normally receive IOUs instead of cash. In addition, traders will sometimes provide loans for the production company in exchange for goods sold in the market right. For example, a business brokerage firm in Philadelphia pig iron blast furnace plant for a Robson and Brooke's (Robeson, Brooke and Co.) Provides a $ 30,000 loan, as the return on the loan, the main commitment of blast furnace plant two years for the supply of 5,000 tons per year of pig iron. type of credit from the merchant in terms of technological advancement for companies like directly to the plant and equipment investment as important. For example, Eli Terry (Eli Terry) companies and businessmen as Levi and Edward Porter (Levi and Edward Porter) signed a contract which can be mass-produced wooden clock, Terry's commitment to three years to submit to the other 4,

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,000 wooden clock, in exchange for Terry Porter to provide working capital and a guaranteed market. organization As early merchants in the way of the early industrial financing plays an important role, so manufacturers often run their goods from the merchant big pen debt. in the accounting methods of the manufacturing sector has been in business since the late Middle Ages, people have been using double-entry bookkeeping. Because of this accounting system is to record the exchange with the outside world is designed, so it is not suitable for monitoring the production process of goods traffic. As time goes on, manufacturers found it necessary to modify the way to better bookkeeping records of raw materials and wage expenses. For example, the Lowell mill managers to develop and improve the efficiency of a calculation of the monthly labor and material cost accounting system; Similarly, Berkshire mills invented a time and attendance recording system, so the plant can be traced for quite some wages during the interval. although there is some new method, but the owners are still making their business activities only once or twice a year the accounts of settlement as a result, they can not be determined during the actual profits. In addition, such an accounting system to improve or replace equipment expenditures as operating costs, making the owners can not determine the real amount of their investment, or rate of return. these deficiencies until the 19th century has managed large-scale enterprises can be corrected only after the rise. when people do not feel the lack of information on capital investment is a serious problem. Many businesses are family-owned business, personal and corporate overhead costs are often mixed together, making the number of owners who need to household expenses, the income from the company to extract the number, then the remaining amount of reinvestment. to live as long as comfortable, business has been developed, they do not have to worry about their own rate of return. business industrialists of the early forms of organization adopted by the impact is obvious. and most commercial enterprises, most manufacturing companies are taking a sole proprietorship or partnership form. all members of the partnership bound by the contract, the contract includes a variety of details, such as the partners should be funded to the number of companies, the bounden duty of the parties, can be obtained from the business end of the income and the agreement procedures. If the owners of Benjamin and iron workers think Francis Jones and Samuel and Benjamin Kiel traders cooperative agreement, the details of the Jones family and Louth annual salary is $ 1,500, In exchange, they promised not to profit out of this business; Louth family is responsible for rolling mills, and responsible for managing the accounts of the Jones family and business enterprises for commercial purposes; Kiel is a partner in a small role. partnerships have a greater advantage than a sole proprietorship. The most obvious point is that partners often bring additional capital for the company, a partner may bring expertise and experience and business contacts, which can enhance the market or credit capacity. Zhu Di Simai high (Judith McGaw) in her paper on the Berkshire study found that the right partner can bring significant advantages, such as the introduction of a partnership made of well-trained Paper work can make the probability of success than the introduction of the partner not to raise 167%; such as the introduction of a person with business experience, their chance of success than does the introduction of the members by 140%; mill owners relatives is to contact the business and convey valuable information resources, those who have relatives in this company, its probability of success than those without such family ties 153% higher than the company, the use of information resources of the three partners of the company's success likely to use two kinds of information resources than just the 47% higher than an information resource only 62% higher than any of the information resource is not used 320% higher. Moreover, the advantages of a partnership, does not make business loss of flexibility. may dissolution of the partnership business is poor or who can not operate as a joint form of business interests, and when companies need to invest additional funds or expertise, they can absorb the new partner to join. For example, Louth, Jones and Kiel the partnership found itself also a lack of funds, on the Pittsburgh Slavic agent James Lin (James Laughlin) for help, which the company invested $ 40,000 capital and join in; Wheeling, West Virginia (Wheeling, West Virginia) of the nail manufacturers for their own interests but also organize a partnership company and continue to carry out a corporate restructuring. 1847, John Hunter, 威廉弗莱明, Robert Morrison, EW. Stevens and Edward Norton (John Hunter, William Fleming, Robert Morrison, E. W. Stephens, Edward Norton) and several nail-making factory owner created the first nail partner Hunter Morrison's (Hunter, Morrison & Company), two years later, Norton out, with his brother and eight other artisans together founder of the Norton and Bailey's (Norton, Bailey & Company); took another two years later, Bailey and six partners and have to leave, and founded another company.