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Transcript of Big Business
Conglomerate is a combination of two or more corporations engaged entirely different businesses that fall under one corporate group. Often it is a multi-industry company and is often large and multinational.
The acquisition and display of expensive items to attract attention to one's wealth or to suggest that one is weal
Was introduced by Thorstein Veblen in his book "The theory of the Leisure"
Advertising is a form of marketing communication used to encourage, persuade, or manipulate an audience to take or continue to take some action.
There were advertising every where in the 1890s; in the newspaper, magazines, posters on walls, etc.
Entrepreneurs (Robber Barons or Captains of Industry?)
Forms of Business
Laissez Faire Capatalism-Adam Smith's Wealth of Nations
John D. Rockefeller
Born July 8, 1839. Died May 23, 1937.
America's foremost business man and leader of industry as well as the world's richest man and greatest giver to philanthropy.
He donated his money to the Union until 1937 he donated $500 for medical research, universities and Baptist church
The Rockefeller Foundation's first grant was to the American Red Cross. It also distributed more then $14 million.
He made his first business transaction at the age of 12.
Conspicious Consumption And Advertising
Smith claimed that for the free market correctly, or for the benefit of all of society, neither the government nor any other combinations could work to restrict free trade, including corporations & labor unions
-Gold and silver was wealth
-Countries should boost exports and resist imports to maximize the metal wealth
-Radical insight was that a nations wealth is the stream of goods and services that it creates
Adam Smith's Reasons
Conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate group. Often, a conglomerate is a multi-industry company. Conglomerates are often large and multinational.
A business pool is a union of different companies in the same or similar arena of business. The main aim behind such ‘coming together’ is to limit competition among themselves in such a way that each company gets the maximum profits.
A trust company is a corporation, especially a commercial bank, organized to perform the fiduciary of trusts and agencies. It is normally owned by one of three types of structures: an independent partnership, a bank, or a law firm, each of which specializes in being a trustee of various kinds of trusts and in managing estates. It is safe to say that the term "trust company" must not be narrowly construed.
A holding company is a company or firm that owns other companies' outstanding stock. The term usually refers to a company that does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies.
The term vertical integration describes a style of growth and management control. Vertically integrated companies in a supply chain are united through a common owner. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need.
The merger of companies at the same stage of production in the same or different industries. When the products of both companies are similar, it is a merger of competitors. When all producers of a good or service in a market merge, it is the creation of a monopoly. If only a few competitors remain, it is termed an oligopoly. Also called lateral integration.
Born on May 27,1836 in Roxbury, New York
Die on December 2 1892 in New York city
In 1860, he became a on wall street
Gould was a laeading American railroad developes and speculate.
In 1856, Gould published history of Delaware county, and border of new yrk
Gould bulid up a systems of railroad in midwest and west
1879, Gould had controlling interst in 15% of the country tracks
by controllong Union Pacific, Amid pobitical contovery over it debts to the federal governement,Gould realized a large profile for himself
Monopoly is a form of business in which a business, enterprise or a specific person is the only supplier of a particular product and is in control of the market with lack of competition. A monopoly is a business that has significant power to charge with higher prices.
J. Pierpont Morgan
Born on April 17, 1837, in Harford, Connecticut. Die on March 31, 1913 in Rome, Italy
Morgan started his own private banking compny in 1871 and now it;s know as J.P. Morgan & CO. One of the laeding financial firms in the country
J.P Morgan & CO. was so powerful tahthe U.S government looke to the film fo help with the depression of 1895