The Modern Industrial Enterprise
Many factors supported the emergence of the modern industrial enterprises. The influence of production, distribution, and management helped create the enterprises. Forces and historical events also supported the development. These influences worked together in their own way in shaping the national diamond into what it is today.
Forces and events of influence included transportation, communication, and the manufacturing of goods. These industrial activities helped the growth of the industrial economy. The engineering achievement of the railroad started a travel, trade and transportation revolution. The railroad could move more goods than ever before, faster than any man on horse, or ship, and very importantly maintain punctuality. Companies, previously small and local, could now expand to distant places and increase production as a result. Along with the railroad came the telegraph. With the telegraph, people and companies could exchange ideas and news almost immediately. These two influential factors linked the east to the west, creating a network, coast to coast, beginning the development of the national diamond. Manufacturing was also involved in the emergence of modern industrial enterprises because manufacturing firms made up the majority of country's GDPs. The manufacturing industries were very in depth and thus branches into sub divisions that created more employment through networks.
Along with the factors were the entrepreneurs who took the risks. These people made the first investments into the determinants of the modern enterprise. They invested into larger facilities ...