Identify the 6 eras of business and explain how the relationship era - including alliances and technology - influence contemporary business.
- Colonial period
- Industrial Revolution
- Industrial Entrepreneurs
- Production Era
- Marketing Era
- Relationship Era
Colonial Era - Businesses were small and rural, emphasizing agricultural production.
Industrial Revolution - Brought factories and mass production to business
Industrial Entrepreneurs - Built on the Industrial Revolution through expansion in size and number of firms
Production Era - Focused on the growth of factory operations through assembly lines and other efficient internal processes.
Marketing Era - During and following the Great Depression, businesses concentrated on finding markets through advertising and selling
Relationship Era - The focus in on developing and sustaining long term relationships with customers and other businessess.
Technology promotes innovation and comunication while alliances create a competitive advantage through partnerships.