evolution of business bus 210 - uopx
DESCRIPTION
Describing the evolution of Business.TRANSCRIPT
EVOLUTION OF BUSINESS
By: Erlin O. Reyes Describing The Evolution Of Business
OVERVIEW:
• Feudalism
• Mercantilism
• Capitalism
• Commerce
• Property Rights
• The industrial revolution
Feudalism
Writings of business founded in stone ages.
How society was organized and emerged in the middle ages.
Aristocrats control the property rights to all valuable resources.
Evolution of tenant farming.
Laborers began to receive rewards and profit.
Mercantilism Barter of goods and land
to gold and silver.
The business system of import/export.
The international of trading.
Merchants and Bankers recognized values in commodities.
Discrepancy in value and price.
Capitalism Economic, business
political system
Control of physical capital
Class system
Industrial production
New working class proletariat evolved.
Commerce Barter to Money
Money to capital
Sales and purchases
Supplying goods and services
The joint stock corporation evolved.
Property Rights Right to own, sell,
trade, valuable resources.
Land for production to built structures
The rights to financial assets through Capital
Copyrighting a product or patents through Enterprise.
Labor the right to work freely
The Industrial Revolution Began in 1800’s
It spread the US in 1900’s
Provided new opportunities for capital
Shifted production and trades
Brought advances in technology
Conclusion In conclusion business systems such as,
Feudalism, Mercantilism, Capitalism, and commerce emerged a new era for business. It allowed people to share wealth, land, enterprise and capital. This later came about in the production of trade, profits and money. It allowed different classes and rank of people the rights to ownership of land or capital and in creating an enterprise.
ReferenceJones, G. R. (2007). Introduction to business: How companies
create value for people. New York, NY: McGraw-Hill/Irwin