Business leaders secured the capital necessary to move production of goods from small producers to large corporations with increased capacities, more efficient production methods, and standardized distribution. All of which increased the availability of goods and materials across the growing continent while also reshaping labor and cementing dependence on expanded production hours and mechanized processes. While businessmen helped propel the U.S. into the 20th century as one of the most wealthy nations, there were many tradeoffs; classes became more polarized, pollution skyrocketed, working conditions were harsh, and big business took hold with monopolies controlled whole industries.
Entrepreneurs identified new services and markets and capitalized on innovations and conditions that came out of the Civil War. Many of the most successful and prominent entrepreneurs of the Industrial Revolution became some of the most influential business leaders of the times. Many entrepreneurs took advantage of improved communication and transportation channels to create new entities in a growing service industry.
Inventors spurred much of the innovation and growth during the Industrial Revolution. From machinery to improved communication, entrepreneurs and businessmen capitalized on the work of inventors.
Entrepreneurs identified new services and markets and capitalized on innovations and conditions that came out of the Civil War. Many of the most successful and prominent entrepreneurs of the Industrial Revolution became some of the most influential business leaders of the times. Many entrepreneurs took advantage of improved communication and transportation channels to create new entities in a growing service industry.
Inventors spurred much of the innovation and growth during the Industrial Revolution. From machinery to improved communication, entrepreneurs and businessmen capitalized on the work of inventors.
Important people:
*Alexander Graham Bell: inventor of the telephone
*Andrew Carnegie: philanthropist; led an enormous expansion of the American Steel Industry
*Thomas Edison: inventor of the light bulb, phonograph, motion picture camera; was also a businessman
*J.P. Morgan: famous financier
*John D. Rockefeller: philanthropist and businessman; founder of Standard Oil Company
*Cornelius Vanderbilt: American steamship and railroad builder; executive financier and promoter
Mykala Dimond