3. Development of Managerial Capitalism.pptx

3. Development of Managerial Capitalism.pptx - Development...

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Development of Managerial Capitalism
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Personal Capitalism By the 1840s personally managed enterprises - those that carried out the processes of production and distribution in market economies – had become specialized, usually handling a single function and a single product. They operated a factory, mine, bank, or trading office. Where the volume of activity was not yet large enough to bring such specialization, merchants often remained involved in manufacturing and banking, as they had in the early years of capitalism. Some had partnerships in distant lands. But even the largest and most powerful of early capitalist enterprises were tiny by modern standards.
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Managerial Capitalism Managerial capitalism is differed from traditional personal capitalism in that basic decisions concerning the production and distribution of goods and services were made by teams, or hierarchies, of salaried managers who had little or no equity ownership in the enterprises they operated.
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