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Growth of Big Business

Growth of Big Business. Big Business= A large and powerful company that mass produces goods and employs many people. Between the Civil War and World War I (1877-1914), the United States was transformed from an agricultural to an industrial nation. Agricultural= rural / farming.

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Growth of Big Business

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  1. Growth of Big Business Big Business= A large and powerful company that mass produces goods and employs many people.

  2. Between the Civil War and World War I (1877-1914), the United States was transformed from an agricultural to an industrial nation

  3. Agricultural= rural/ farming Industrial= urban / factories

  4. What caused the growth in industry? • Access to raw materials and energy

  5. Access to raw materials and energy • Vast supplies of natural resources had been discovered in the U.S., including food, fuel and minerals. • By the late 1800s, railroads carried raw materials like coal and iron ore from the mines to mills in Pittsburgh

  6. What caused the growth in industry? • Access to raw materials and energy • Availability of work force due to immigration

  7. Availability of work force Farmers who lost their jobs to machines immigrants

  8. Availability of work force • A large workforce was available due to • huge influx of immigrants, which caused the U.S. population to triple between 1860 and 1910 • increased migration to the cities from southern farms, where mechanization was decreasing the need for labor.

  9. What caused the growth in industry? • Access to raw materials and energy • Availability of work force due to immigration • Inventions

  10. Inventions • Bessemer process allowed coal and iron (raw materials) to be converted cheaply to steel • sewing machines led to a huge textile industry in New England • telegraph and telephone increased quality of communication • hydroelectric power plants for electricity.

  11. Inventions Sewing machine Bessemer Converter

  12. What caused the growth in industry? • Access to raw materials and energy • Availability of work force due to immigration • Inventions • Financial resources

  13. Financial Resources • During this prosperous period, money was available to fund new industries.

  14. What caused the growth in industry? F.A.I.R. • Financial Resources • Availability of work force due to immigration • Inventions • Raw materials & energy

  15. What Is Industry vs. Big Business? • Industry- a specific branch of manufacture or trade • Big Business- a term used to describe large corporations, in either an individual or group sense

  16. Which is Which? Industry (I) or Big Business (BB) • WalMart • BB • Steel • I • Coal • I • ExxonMobile • BB • General Electric • BB • Technology • I • Dell Computers • BB • Apple • BB

  17. Examples of Big Business Railroads Oil Steel

  18. Why was there a rise in big business? C.L.A.N. • Captains of Industry • Lower-cost production • Advertising • National markets created by transportation advances

  19. National Markets • A single manufacturer could use railroads and canals to ship goods to markets all around the U.S.

  20. Advertising 1889 • In order to increase sales, manufacturers began to develop strategies to advertise their products. 1908 1892

  21. Lower-cost Production • Big businesses could lower the cost of production with new technologies like assembly lines, standardized interchangeable parts, and the Bessemer process for making steel.

  22. John D Rockefeller • Captain of the Oil Industry. (Standard Oil) • He was born in New York. • Rockefeller started his first business when he was 7. He raised and sold turkeys. • Rockefeller opened his first oil refinery in 1863. • He was the richest man in the world. At one point he was worth what would be 310 BILLION DOLLARS today.

  23. Captains of Industry • John D. Rockefeller • Rockefeller's Standard Oil owned each step in the oil production process from the drilling operations to the gas station pumps.

  24. Andrew Carnegie • Captain of the Steel Industry. • Born in Scotland. Moved to America when he was 13. • Grew up in a poor family. • He worked hard and became one of the richest men in the world.

  25. Captains of Industry • Andrew Carnegie • By using the latest technology and watching costs, Carnegie priced his steel below competitors. By 1900 he owned the world's largest industrial corporation - Carnegie Steel.

  26. Cornelius Vanderbilt • Captain of the Railroad & Shipping Industry. • Started out as a steamboat entrepreneur. • Nicknamed the “Commodore” • Known for being ruthless • Became one of the richest men in America

  27. Captains of Industry • Cornelius Vanderbilt • Was an industrialist in railroads and shipping. His famous family and fortune made him one of the most influential Americans of his time. He funded Vanderbilt University.

  28. Henry Ford • Captain of the Automobile Industry. • Born in Michigan. • Completed his first car in 1903. • 1903 the Model A is introduced. • 1908 the Model T is introduced. It cost 980.00 • 1913 introduces the Assembly Line. The Model T was the most popular automobile in the country. After the assembly Line it only cost 280.00!

  29. Captains of Industry • Henry Ford • Ford increased output in the auto industry with assembly line production.

  30. USII – ‘izations’ Vocab • Urbanization • the process of Americans moving from rural to urban areas • (More people live in cities) • Industrialization • The process of industries growing in America • (a lot more factories) • Mechanization • The process of America relying more on machines • Less work by hand

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