THE RISE OF BIG BUSINESS: TRUSTS, MERGERS, AND OLIGOPOLIES - Book Report/Review Example

THE RISE OF BIG BUSINESS September 28, The Rise of Big Business, Ch. 6 I have gained vast knowledge and understanding on the business forms and sizes during the 18th century. Before the mid to late 18th century, small business firms that were managed by families and only targeted local and regional market existed in America. The scale of the business led to sophisticated methods of administration, and the target market of the produced goods and services were national and the international market.

The importance of the article is further seen by the detailed discussion on the different views by analysts on whether it can be termed as the second revolution of the American institution. The opinion generated broadens my scope of thinking and draw possible conclusions on the issue from analysis of the given information.The topic that caught my attention in this matter is the one about managers and the management techniques that highly contributed to the success of these large enterprises during that period.

The part of the article talking about management emphasizes more about management and its importance. The article further gives examples of the large enterprises or enterprises that had the potential to grow, but failed due to management problems. Another important aspect of management that is well portrayed in the article is about speculation and planning. Most of the companies formed had managers that were interested with the current market status and profit making strategies of the moment.

The ongoing concerns were not among their top priorities, and that contributed to the failure of the business. A good management system should also incorporate the use of modern technology in production in order to keep up with quality and demand in the market. However, a good question answered in this case is about if technology alone determined the success of the business. A satisfactory answer is given by explaining that technology is among other factors that determine the success of a business.

The important subject I learn from the article is economies of scale. A good management system is necessary during and after expansion of the business of profit realization, or the set goals are to be met at any cost.