Nobody downloaded yet

British Entrepreneurship between 1870 and 1914 - Essay Example

Comments (0) Cite this document
Summary
Largely, it sounds conjectural to trace the exact causation of economic decline of Britain in the late 19th century. However, a serious consideration of the available data and historical texts, not only enable one to identify the exact timing and a tentative extent of the economic decline in the late Victorian Britain, but also allow the concerned individuals to trace the origins of this decline to a gross failure of British entrepreneurship…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.5% of users find it useful
British Entrepreneurship between 1870 and 1914
Read TextPreview

Extract of sample
"British Entrepreneurship between 1870 and 1914"

Download file to see previous pages These traits include a dismal failure to adapt to new technologies, a gross misunderstanding as to the relevance of science in industrial efficiency, an obstinacy to stick to low-yielding established industrial sectors, a dearth of relevant managerial and organizational skills, an inability to delegate responsibility to subordinates and to take advantage of talented people having complementary proficiencies and a general lack of trust and faith in the British entrepreneurial potential (Aldcroft 1981) .
At some time during the late 19th century, Great Britain fell victim to an economic decline. Various Historians tend to facilitate diverse reasons as to this economic demise of the Victorian Britain. Some historians attribute this economic decline to the rampant alterations in the world economy, emanating from the proliferation of the Industrial Revolution in the 19th century. There is one other school of historians, who link the economic fall of Victorian Britain to the lacunas existing within the British economy. Many historians blatantly profess that this so-called economic decline of Britain in the late 19th century could be understood and analyzed only in a relative perspective. As per these historians, the economic meltdown in the late 19th century Britain stands to be plausible only when one compares the performance of the British economy to other major industrial economies like the US and Germany. According to Alford, "British enterprise, it will be argued, did not decline during this period: it remained remarkably constant and inflexible (1996)." On the contrary, the available statistical data also to some extent indicates that in fact the British GDP was on the rise in the period 1870-1890, irrespective of a sluggish annual rate of growth. Crouzet (1982) argues that the growth rate of Britain, which rested at 3.1 percent in the period 1811-1877, came down to 1.6 percent between 1877 and 1913.
Historians also tend to differ, as far as the onset of this economic decline is concerned decline. A majority of the historians identify the year 1873 as the time when Britain slipped into a prolonged era of economic slowdown. Others argue that the UK experienced a remarkable economic growth in the period 1820-1830. Thus, Victoria's accession tends to be the chronological coordinate that ushered in an era of economic decline (Crouzet 1982). Realistically speaking, in consonance with the available statistical data, 1870 could be considered the point of genesis of Britain's economic decline. It was only in the period between 1870 and 1913, when Britain's share of the global industrial output, which rested at 31.8 percent, nosedived to a pathetic and alarming 14 percent (Crouzet 1982).
There is no denying the fact that a majority of the historians hold that the late Victorians happened to be grave failures, as far as the realm of entrepreneurship was concerned. As far as the entrepreneurial acumen of late Victorians is concerned, the analysis of their failure tends ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“British Entrepreneurship between 1870 and 1914 Essay”, n.d.)
British Entrepreneurship between 1870 and 1914 Essay. Retrieved from https://studentshare.org/history/1518070-british-entrepreneurship-between-1870-and-1914
(British Entrepreneurship Between 1870 and 1914 Essay)
British Entrepreneurship Between 1870 and 1914 Essay. https://studentshare.org/history/1518070-british-entrepreneurship-between-1870-and-1914.
“British Entrepreneurship Between 1870 and 1914 Essay”, n.d. https://studentshare.org/history/1518070-british-entrepreneurship-between-1870-and-1914.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Relationship between Entrepreneurship, Innovation and Economic Development
...and evolves with changing times to maintain its leverage against industrial rivals. Facebook, twitter, Apple, Microsoft etc. are important companies that were able to exploit new ideas and turned them into roaring businesses. Through the evolving process of entrepreneurial creativeness, the companies, that fundamentally adopt a culture of entrepreneurship and innovation, are better able to cope with increasing competition in the market and impact economic growth. The major theories that support the relationship between creative entrepreneurship and development Schumpeter (1934) has been one of the most influential social scientist to propose that economic growth is driven by innovation....
6 Pages(1500 words)Essay
Relationship between Entrepreneurship, Innovation and Economic Development
... of the of the Concerned Finance and Accounting 24 November Relationship between Entrepreneurship, Innovation and Economic Development Introduction If one takes into consideration the economic developments wrenched in the last three decades, one notices a significant breakthrough as to studying the relationship between knowledge and economic growth on one hand and between innovation and economic growth on the other hand. Such an analytical approach has furnished ample insight into the interrelationship existing between knowledge, innovation and entrepreneurship. However, it goes without saying that there is a lacuna as to the understanding of the comprehensive relationship between entrepreneurship, innovation and economic growth... . The...
6 Pages(1500 words)Essay
German and French Fascism between 1870 and 1939
...? German and French Fascism between 1870 and 1939 German and French Fascism between 1870 and 1939 Marxism is a social political worldview based on materialist interpretation of historical developments, a dialectical observation of social change with an analysis of strategic relations in the society. Karl Marx, a German philosopher, pioneered the development of Marxism in the mid nineteenth century1. The philosopher emphasized on the revolutionary view of the political and social change. According to the Marxism analysis, strata conflict within capitalism comes up due to intensifying conflicts between socialized production and high productive built-up....
6 Pages(1500 words)Essay
The relationship between Entrepreneurship and Economic Growth
...The relationship between Entrepreneurship and Economic Growth ID 19714 Order No. 270448 22 February 2009 Table of Contents: Table of Figures Figure Number Description and Word Hyperlink Figure 1 A simple model showing relationship between Entrepreneurship and Regional Economic Growth (Source: Gleave, Bill Dr. University of Essex. 2007) Figure 2 The Conceptual Model of Global Entrepreneurship Monitor (Source: Bosma, Neils and Jones, Kent et al. GEM 2007 Executive Report) Figure 3 The Job Generation... Process (Source: D.J. Storey 1982) Figure 4 Early Stage Entrepreneurial Activity (Source: Bosma, Neils and Jones, Kent et al. GEM 2007 Executive Report) Figure 5 Early Stage Entrepreneurial Activities in...
30 Pages(7500 words)Coursework
Liberal Government 1906-1914
...Liberal Government (1906 - 1914) How effectively was the problem of poverty dealt Contents Introduction TheBackground Measures taken by the Liberal Government: A Welfare State Analysis of Effectiveness References Introduction The General Elections that were held in Britain in 1906 celebrated its centenary year in 2006. Although a number of historical events of historical significance exist, the General Elections of 1906 can be considered to be one of the most important happenings in British History. Even till today, the victory of the Liberal Party in 1906 elections is considered to be the most remarkable reversal of electoral trend. Along with few other notable modern elections,...
8 Pages(2000 words)Essay
International Economic History Since 1870
...and in the absence of trade would not have enjoyed the significant input of income, being restricted by the tightly controlled internal markets.(Allen, 1981). Commander Perry’s visit first opened up the closed Japanese market, however post World War II, the direct controls exercised by the Supreme Commander of the Allied Forces functioned in much the same manner to force the country into trading and many of the deconcentration measures initiated by the SCAP helped to improve trading links between Japan and other countries which has proved vastly beneficial to her economic strength. The Meiji era that followed the Togukawa era has been heralded as the beginning of industrialization in Japan. There was a sudden jump in...
6 Pages(1500 words)Essay
Account for the fact that Britain was the richest country in Europe between 1870-1914
.... By 1873, British operators had more investment opportunities in colonial and foreign corporation stocks, India, foreign bonds and stocks and in dominion and colonial government securities (Armand 2006, p.8). Between 1870 and 1914, Britain was the richest economy in Europe and its success is attributed to colonial imperialism, Second Industrial Revolution and growth of key sectors in its economy. References Armand, A. (2006) British capital outflows, 1870-1914: A “global saving need” perspective. [Online]. Available at:...
4 Pages(1000 words)Essay
War in 1914
...The First World War that erupted in 1914 was an outcome of multifaceted circumstances and scenarios. It had its root causes in political, social, economic and ideological backgrounds. The road towards First World War was in making since the middle of 19th century. Military alliances, subjects’ hostility towards their masters, diplomatic failures all these resulted in the outbreak of the war. The Ottoman Empire that had long ruled over the subjects had gone frail in recent times, giving rise to a vacuum within. This led to the fight within between the Big three of Europe. The German armament and the hostile attitude of the Kaiser and the military top heads was reflective of their ambitions which came forth...
1 Pages(250 words)Assignment
Relationship Between Entrepreneurship and Innovation
...Relationship between Entrepreneurship and Innovation Introduction Entrepreneurship involves three main dimensions linked to innovation. Entrepreneurship involves risk taking, proactiveness in relation to quick adaptability to the market demands and autonomy that is linked to innovation in many aspects. The paper takes an insight look into the relationship between the two subjects under discussion. The main area of focus is the implication that such a relationship has to the individuals or an organization. There is a personal analysis on how the relationship influences risk taking and personal strengths in relation to innovation and...
2 Pages(500 words)Essay
Discriminate Between Intrapreneurship and Entrepreneurship
...Discriminate Between Intrapreneurship and Entrepreneurship within Various Business Settings Introduction The reason why intrapreneurs and entrepreneurs have suddenly became more important is because at present we are under the influence of the new technologies. Decisive roles are being played by the intrapreneurs and entrepreneurs as they help the company to enter into the new markets to engage in one’s own business ideas. The concepts of entrepreneurship are considered to be the process of developing and uncovering an opportunity and creating value by seizing the opportunity through innovation, without any regards to the location of the intrapreneur or entrepreneur in existing or new...
6 Pages(1500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic British Entrepreneurship between 1870 and 1914 for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us