The First Era of Business
The First Era of Business1. Select one (1) of the first four (4) eras of business history and imagine a business person from that era managing a modern business today. Analyze the situation and determine what specific challenges that manager would face.
During the colonial period the business model was locally focused and agriculturally based. Agricultural production in a rural environment depended upon output from farms and plantations. Commerce was localized and successful crop harvests determined the economic success of the local community. Colonists were very dependent on their relationship with England for manufactured items and financial backing. The success of these businesses was dependent on the individual’s effort to bring his/her crops to harvest and market.
Today’s manager would have to: 1. operate within a global model to develop and produce their products for a wider market; 2. recognize greater and diverse competition; and 3. determine routes for distribution that reach beyond their local community.
2. Recommend at least three (3) things your time-traveling manager should consider when managing today’s business workforce. Please be as specific as possible and keep the era from which your manager came in mind.
In the colonial era the manager was generally the head of the household and owned the farm or plantation. The workforce was made up of family members and owned labor and was easily controlled. Today’s manager needs to be skilled at directing, controlling, and motivating the workforce. The manager would have to have the ability to lead. Today’s manager would have to have the vision to understand the modern marketplace, how to satisfy that marketplace in order to gain and maintain market-share and compete successfully. This would require critical thinking to analyze the position within the market and creativity to maintain that position in the market.