Industrialization is the transformation of the significant means of income in the economy from agriculture to manufactured goods. In the industrialized economy, mechanized mass production replaces individual manual labor, while assembly lines replace artisans. Industrialization began in Europe in the late 18th and early 19th centuries and occurred in the U.S between the 1880s and the Great Depression (Mahoney, 2017). The social and economic events during and after 1865 changed the policies of the government and attitude of the people in terms of industrial production (Mahoney, 2017). These events lead to the rise of new economic approaches in the country during the age of industrialization. The pioneer entrepreneurs such as Henry Ford and Madame C.J Walter developed innovative and successful strategies during the rapid economic change during the period.
Madame C.J Walter Business Approach
Madame C.J Walter was the first African American woman who ventured into industrial production in the U.S. Her significant economic approach that ensured her success in the beauty and cosmetic industry was new methods of marketing. She identified a particular niche in the market and provide products that only target specific consumers (Gates, 2013). Besides, Walter pioneered the development and use of sales agents to market products. Lastly, as a way of improving the publicity of her products, she engaged in activism and Philanthropy (Gates, 2013). These strategies help Madame C.J Water become the first African American to be a millionaire in the U.S.
Henry Ford Business Approach
Henry Ford, on the other hand, was a pioneer industrialized in the motor car manufacturing industry whose business approach changed the ways of doing business in the world. Before Henry Ford got involved in motor vehicle production, goods in most industries were produced on a made-to-order basis (History, 2016). Manufactured products were quite expensive. Henry Ford changed this old method of production by inventing the mass production of goods. Mass production allowed the production of goods that could reach the broadest possible market (History, 2016). His new business approach enables firms to enjoy economies of scale, leading to reduced cost of production and affordable price of the produced products. Ford's unique business approach made him the first person to change the transportation system in the U.S forever.
Significant Events after 1865 that Changed the American Society
Several events occurred during and after 1865 that changed government policies and people's attitudes towards the way of doing business. The major event, however, was the abolition of slavery and the slave trade in 1865 (Mahoney, 2017). Slaves have become the primary source of labor in America's plantations. With the labor from slaves outlawed, the farmers and business people had to rely on machines to replace the slave labor. The need for machines to be used in farming provided the market for the production of farming machines, thus promoting industrialization (Mahoney, 2017). Machines, therefore, replaced human labor in the production of goods.
From the above discussion, it is evident that the rise of industrialization is mostly attributed to new business approaches undertaken by different entrepreneurs. Businesspersons such as Madame C.J Walter perfected sales and marketing, while Henry Ford innovated mass-production as an affordable means of production.
Gates, H. (2013, November 15). Madam Walker, the first black American woman to be a self-made millionaire. The African Americans: Many Rivers to Cross. https://www.pbs.org/wnet/african-americans-many-rivers-to-cross/history/100-amazing-facts/madam-walker-the-first-black-american-woman-to-be-a-self-made-millionaire/
History. (2016, June 16). Henry Ford. https://www.history.com/topics/inventions/henry-ford
Mahoney, E. (2017). The Industrial Revolution: The Birth of Modern America. Greenhaven Publishing LLC.
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Essay Example on Industrialization: From Agriculture to Mass Production. (2023, Apr 24). Retrieved from https://proessays.net/essays/essay-example-on-industrialization-from-agriculture-to-mass-production
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