HRM 1101 Lecture Notes - Lecture 3: Berkshire Hathaway, Meyer Guggenheim, Procter & Gamble
14 Feb 2017
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Document Summary
Most people worked by themselves (blacksmith, farmers, tailors) or they worked for industrial enterprises like the railroad. Start of corporations: small businesses, first corporation: british east india company in 1600, dutch east india company in 1602, became popular and powerful w/ industrial revolution. Industrial revolution (1760-1840: uk usa western europe and japan, hand work to mechanized production of textiles, new chemical and iron production processes, steam power, machine tools, fuel, textiles first industry to use modern production methods. 2nd industrial revolution (1840-1870: steam-powered transportation and factories, large-scale manufacturer of machine tools, ge, us steel, standard oil, bayer ag. Before 1870 there were big us companies: new york stock exchange, city bank of new york, proctor & gamble, valley falls knitting (berkshire hathaway, meyer guggenheim, john jacob astor, cornelius vanderbilt. 1870-1880: carnegie steel, standard oil, bell telephone, j. p. morgan, coca cola, johnson & johnson. 1890: general electric, pepsi, wall street journal.
