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Business Time Travel - Essay Example

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The essay "Business Time Travel" discusses the industrial age as one of the business eras that was characterized by a lot of innovation in the film industry, electric equipment and phonograph and recording. …
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Business Time Travel: Age of Industrial Entrepreneurs Introduction The Industrial age as one of the business eras was characterized by a lot of innovation in the film industry, electric equipment and phonograph and recording. Of the entrepreneurs of this period is Thomas Edison. Edison was a great inventor having patented over 1090 innovations (Israel, 1998). Being one keen on innovation, Edison would perform well in the modern business scene. Having lived at a time when mass production and communication technology was not as advanced as it is today as noted by Jacob (1997), Edison would have to learn how to use the Internet and modern principles of management. In terms of business management, the Wizard of Menlo Park would be quite challenged with how to apply the theories learnt in operations research. He would possibly have problems in performing extensive market research using statistical analysis and optimizing business performance considering various forces that are at play today. Edison would also quite be challenged in using technology to the advantage of his organization. Having lived at a time when the Internet was yet to be a reality, he would need to adapt the Internet as opposed to telegraphs which were essentially slower. This is so considering that in the modern world business managers have to make decisions fast based on facts so as to remain competitive in every possible way. Recommendations In managing today’s business properly, Edison should consider the importance of computer and modern communication technology such as mobile phones in making decisions and accessing information concerning the workforce in real time. He should also consider accepting diversity in the workforce given that people of different cultural backgrounds are bound to make up the human resource of the company. Yet again, Edison should learn the complexity of dealing with today’s workforce in regard to their rights and need or being unified by trade unions. References Israel, B. (1998). Edison: A life of invention. New York: John Wiley. Jacob, C. (1997), Scientific Culture and the Making of the Industrial West, Oxford, UK: Oxford University Press. Read More
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