Business contemporary

Business contemporary - created new demand for manufactured...

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The Colonial Period- Rural and agricultural production. Towns were small and they functioned as marketplaces for farmers. Economic focus centered on rural areas. The Industrial Revolution Moved business operations from an emphasis on independent skilled workers who specialized on building products one by one to a factory system that mass produced items by bringing together large numbers of semi skilled workers. factories profited from the savings created by large scale production, and increasing machine support. Specialization of labor, limiting each worker to a few specific tasks in the production process, also improved production efficiency. The Age of Industrial Entrepreneurs The entrepreneurial spirit of this golden age in business did much to advance the us business system and raise overall standard of living of its citizens. that market transformation, in turn,
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Unformatted text preview: created new demand for manufactured goods. The Production Era more goods were made due to the increasing demand for manufactured goods. assembly lines were created and efficiency in production was everything. The Marketing Era Consumer orientation was discovered and people began to advertise to appeal to certain groups or people businesses began to analyze consumer desires before beginning actual production. The Relationship Era A significant change is taking place in the ways companies interact with customers. businesses are taking a differe,tlonger term approach to their interactiosn with customers. firms now skee ways to actively nurture customer loyalty by carefully managing every interaction Read more: http://wiki.answers.com/Q/What_are_the_six_eras_of_business#ixzz1RLGjgdfE...
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This note was uploaded on 02/10/2012 for the course ACC 557 037VA016-1 taught by Professor Kimberlydillman during the Spring '11 term at Strayer.

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