BUS/210

Theresa Williams

Assignment Sunday 6, 2013

THE EVOLUTION OF BUSINESS

INTRODUCTION

This presentation will reflect different forms of business organization and economic systems.

Looking at the business systems from our past will help innovate our systems for the future. We as a country have come along way

in business systems and structures.

Overview of business evolution:• Feudalism• Mercantilism• Capitalism• Commerce • Property right• Industrial Revolution

FEUDALISMFeudalism: the business or economic system in which one class of people, aristocrats, control the property rights to all valuable resources, including people.

• The King; would award his knights with manor and Land.

• The Peasant work to pay for the land owned by the Knights.

• The knights provided food, shelter, and safety to the peasants.

http://www.learner.org/interactives/middleages/feudal.html

Throughout the Middle Ages (A.D. 500–1500) this business system endured.

MERCANTILISMAn economic system developing during the feudalism to unify and increase the power and especially the monetary wealth of a nation by a strict governmental regulation of the entire national economy usually through policies

• In this type of system countries wereable to form a solid trade system with other countries• This brought wealth to the countries that had the most natural resources to exchange.

CAPITALISM

Capitalism is organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government. http://capitalism.org/

COMMERCEAn interchange of goods or commodities, especially on a large scale between different countries (foreign commerce) or between different parts of the same country (domestic commerce) trade; business.

PROPERTY RIGHTS

A legal right to or in a particular property. This is the right that people have over there own valuable resources , home, book, CD or DVD.

Four major forms of property rights are:• Labor• Land• Capital • Enterprise

Picture by by Rob Port , December 17, 2011

THE INDUSTRIAL REVOLUTIONIn the late eighteenth and early nineteenth centuries the Industrial Revolution was formed. This by changing from the natural resources/farming to an industrial nation.

Technologies made business use from a broad perspective globally and commercial from country to country.

In this stage of business and actual manufacture companies were built using large machines operated by people.

REFERENCES

Annenberg Foundation 2013. /http://www.learner.org/interactives/middleages/feudal.html