Industrialism at the turn of the 20th century
Industrialism at the Turn of the 20th Century
Industrialists at the turn of the 20th Century best deserves the title Captains of Industry. During the 20th century, industrialists brought about more positive changes significantly to the country they settled in diverse ways. Some of the positive achievements, hard work and Philanthropy were; improved production of goods and services, expansion of the markets for goods and services and increase in job opportunities. The paper discusses I depth these positive changes that the industrialists brought in support of industrialization at the turn of the 20th century.
One of the positive change brought about by industrialist is improved productivity of goods and services. This was the primary goal of any business person together with their workforce. The industrialists had a strong understanding of business and how to improve and increase the output through little inputs (Cheffins, 473). The industrialists could manage a bigger workforce, keep records, motivate employees thus resulting in improved productivity, a factor that was absent before and was a positive contribution by the industrialists in the turn of the 20th century, therefore, serving as the captains of the production industry.
Market expansion is another essential factor, and a positive thing brought about by the industrialists during the turn of the 20th Century, therefore, proving themselves as the captains of the industry.
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Market expansion significantly depended on the volume of goods and services produced (Cheffins, 475). Industrialists had plenty of knowledge about marketing strategies that would improve on the sale output of these goods and services. The industrialists would offer quality products or services to a wide section of the market and train the locals on some of these strategies. Therefore, this served as a positive change that the industrialists brought about during the turn of the 20th century.
Finally, the industrialists had a love for humanity, and therefore, they strongly focused on improving the quality of life of the local communities (Philanthropy). As a result, they created job opportunities to improve on the quality of life of the locals (Cheffins, 498). Creating job opportunities was an essential and positive factor that the industrialists did during the turn of the 20th Century and proved then as the captains of the industry.
Cheffins, Brian R. "Mergers and Corporate Ownership Structure: The United States and Germany at the Turn of the 20th Century." The American Journal of Comparative Law 51.3 (2003): 473-503.
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