The Visible Hand: The Managerial Revolution in American Business

This is basically the business history of the United States. It traces the story of how the visible hand of management in business replaced what Adam Smith called the invisible hand of market forces.

So Is Employee Involvement and Quality of Work Life Really All That New? – The N.O. Nelson and Leclaire Story

Imagine, for a moment, your progressive business vision. Does it have profit sharing? Does labor management collaboration exist? Does it support and assist associates in securing affordable, high quality housing? Is there participatory management? Are employees encouraged to tinker and invent? Does the firm provide and support continuous adult learning? Does it provide high quality child care, primary and secondary education? Are on-site recreation and … [ Read more ]

Why Decisions Fail

Nutt (management, Ohio State Univ.) has spent 20 years collecting and studying more than 400 decisions made by upper-level management in corporate, government, and nonprofit organizations. Here, he selects 15 decisions that led to debacles and gives the background for each decision, what went wrong, and how the problem could have been approached differently. Through these case studies and other examples, he reveals a number … [ Read more ]

How Did We Get Here?

Much of what happened in the 1990s also happened in the 1980s. Here’s hoping we don’t do it again.

Editor’s Note: Also includes an interesting historical timeline of selected relevant events starting in 1984.

The Wheels of Commerce (Civilization and Capitalism: 15Th-18th Century)

Volume two of Braudel’s 2,000-page economic history begins with the earliest examples of the market economy-the rudimentary markets of 15th-century Europe-and then examines the evolution of the more sophisticated trade networks and stock exchanges of the next 300 years. Along the way, Braudel contends that capitalism evolves only in societies with natural hierarchies that thrive on wealth accumulation and the emergence of global trade. More … [ Read more ]

Reinventing the Bazaar: The Natural History of Markets

John McMillan’s Reinventing the Bazaar is an extremely accessible description of markets large and small, as well as an explanation of their underlying mechanisms. An “absolutely free market,” he says, is a “free-for-all brawl,” while a “real market” is an “ordered brawl.” Sprinkling his analysis with hundreds of anecdotes and examples–prison camps, eBay, the American experiment with alcohol prohibition, the Tokyo fish market, and traditional … [ Read more ]

Ad*Access and The Emergence of Advertising in America

Ad*Access takes an historic look back at advertising that was shaped by-and helped shape-the first half of the 20th century in the United States. The sophisticated searchable database tracks down images and information on some 7,000 advertisements printed in U.S. and Canadian newspapers between 1911 and 1955. The ads come from five subject areas: Radio, Television, Transportation, Beauty and Hygiene, and World War II. A … [ Read more ]

How Business Strategy Tamed the “Invisible Hand”

Theories of competition and strategic planning are essential ingredients in running a global business. In this excerpt from Business History Review, HBS professor Pankaj Ghemawat outlines their development.

Peter Drucker

The greatest weakness of American business is that it knows no history.

The Corporation as Family: The Gendering of Corporate Welfare, 1890-1930

Given today’s business environment, where corporate benefits such as stock options and quarterly bonuses are expected and compared, it’s difficult to remember a time when employee health insurance was a revolutionary concept.

Watts Wacker

The information society is completed — it’s actually been around about 90 years. Now we’re beginning the post-information society. In Alvin Toffler’s terms, any time one of these new ‘waves’ comes in, like when the agricultural economy started giving way to the industrial economy, you have an ‘epoch of uncertainty.’ Now we’re at a point where the uncertainty may never stabilize — there is … [ Read more ]

Introduction to the theoretical and philosophical basis of modern management

Here are some cut-to-the-chase notes covering theoretical and philosophical principles of modern management, most notably as put forward by various management gurus. The notes were prepared by Patrick J. Boylan, Professor of Heritage Policy and Management, City University, London, UK.

Founding Father (.pdf)

Article profiles Robert E. Kath, widely recognized as one of the co-founders of the Internet (along with partner Vint Cerf).

Is the Information Revolution Dead?

An insightful comparison and contrast of the recent high-tech boom and bust to previous technological revolutions, with some speculative thoughts about what the future might hold. A good read.

Elton Mayo and the Hawthorne Studies

This article provides an overview of the landmark study by Elton Mayo, an Australian anthropologist from Harvard, and its implications for management history.

Four Classic Motivation Theories

This series of articles describes the four main theories of motivation. These are Maslow’s Hierarchy of Needs, Herzberg’s Dual-Factor Theory, The Need for Achievement and David McClelland’s work and Vroom’s Expectancy Theory of motivation.

Alfred Chandler on the Electronic Century

Pulitzer Prize-winning historian Alfred D. Chandler Jr. examines the development of two pivotal industries – the consumer electronics and computer industries.

The Basics of Business History: 100 Events That Shaped a Century

Which was more important to U.S. business — Bill Gates’ licensing of MS-DOS to IBM or the introduction of Bakelite? We think you’ll be surprised. In TSC’s Basics of Business History, we count down the top 100 U.S. business events of the 20th century, ranking the signal points, inventions, ideas and companies from least important to most. Take a look at the introduction to get … [ Read more ]