Evolution of Business

By Sabrina DelaneyBus/210

In The Beginning•People lived in small groups• Shared resources and profits•Bartered for wants and needs

Feudalism

• Kings and Queens• Pharaohs• Tsars

Monarchs delegated resources

Kings and Queens

Aristocrats

Commoners

Commoners

Aristocrats

Commoners

•Tenant farming began•Increased motivation•Farmers made small profits

Bargaining and negotiations started

Feudalism system started failing

Conflicts over profits Wars were common Land and resources seized

Mercantilism

Global trading of products Borrowed capital funded trading Buy low, sell high elsewhere Banking became a respected business

Property Rights

King John signs Magna CartaChanges History foreverRights to private propertiesBalance of power shifted

Capitalism Private properties become

enterprising Private production, trade and

distribution

Commerce

Market

ServicesGoods

Commerce brings big changes

Labor Land

Capital Enterprise

$$$$$$

The Industrial Revolution

Innovation Steam Engine Transporting costs cheaper Mass production

Revolution in Farming Steam engines increase productivity Workers displaced Common land was taken back Immigration was on the rise

Money to be Made

Aristocrats no longer had power

People made their own millions

Business is still booming

References

Axia College (2007). The Evolution of Business, Week One, Chapter 2 reading. Retrieved from Axia College, Bus/210 website.

Windows XP Clip Art (2010) Retrieved March 26, 2010.