Life And Principal Innovations Of John Jacob Astor

The Life and Principal Innovations of John Jacob Astor Post-revolutionary America is defined by an era of rapid social, economic, and political change. In this era, whether emerging from the changes themselves or being the driving force behind such changes, came the competitive entrepreneur. Joseph Schumpeter described capitalism as a form or method of economic change that not only interminably is but never can be stationary1. American liberty after 1776 brought about new economic factors that forged innovative business such as, goods, production methods, markets, capital accumulation, and corporate structures. At the advent of this mobilizing capitalist economy came John Jacob (J.J.) Astor who possessed the entrepreneurial talent to turn these ideal economic conditions into economic profits. contrasted to touristy historical beliefs supported by historians like Norman Gras, Kenneth Porter, and Alfred Chandler, J.J. Astor had in sight control over antebellum markets an d business operations. Astor open up practises that remain a key part of business institutions in present day America. He co-ordinated hundreds of employees, navigated government policy, kept meticulous accounting records, and in doing so, built one of the largest and most prospered enterprises in history.

His accomplishments describe how he began to change methods of commercial operation, pep up new institutions, and generate substantial change. John Jacob Astor pioneered a modern-day corporate structure that encompassed horizontal and vertical integration complemented by an equally innovative form of strategic accounting designed to predict and control global supply and demand tha t mitigate the tone for the post-revolutio! nary incorporation of America. John Jacob Astor, the furrier, the merchant, and the financier, epitomized entrepreneurship in the way that, set(p) to succeed and overcome risk, he had an impact that began an epoch of dynastic entrepreneurs. In order to understand J.J. Astor...If you want to get a full essay, order it on our website: OrderEssay.net

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