Midterm- Business 682 1.What’s the difference between the dominance & pluralist theory? 2. Summarize James Duke’s case James envisioned turning his father’s small chewing tobacco factory into the next big thing but his stiff rival firms made that seem hopeless. He ventured into incorporating a new product—the cigarette. He also invented a machine capable of rolling 200 cigarettes per minute. Cigarettes were not popular at the time but that didn’t stop him. From newspaper advertisement of a famous actress holding his brand of cigarettes to hiring people to go in stores and “demand” for his brand to spreading it overseas, he grew his business. Overseas he introduced cigarettes by hiring “teachers” to walk around and show people what cigarettes are (samples) and how to use them. He advertised cigarettes with American actresses which were big with the Chinese men. Duke observed John D Rockefeller’s tactics in his domination of oil and also turned his cigarette trust into a monopoly that controlled 98% of cigarette market. His monopoly lasted until 1911 bc the supreme court broke it up. Duke made the cigarette an acceptable consumer product and spread it around the world. 3. List 2/7 spheres of corporate influence Economic power, technological power, political power, legal power, cultural power, environmental power, power over individuals 4.In what way did railroads affect our society? delivery from 3 weeks by horse to just 3 days. Railroads are the first businesses to require modern management structures of precise coordination, division structures, professional management teams, and modern cost accounting.
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- Spring '16
- Business, Democracy in America, Corporate social responsibility, Ford Motor Company, good social responsibility, Summarize James Duke, theory views businesses