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Essay / Research Paper Abstract
This 7 page paper looks at Chandlers’ model of managerial capitalism and discusses the statement that this is a model “specific to a particular time and place and cannot be generalized”. The paper examines the model and the main characteristics and then applies this to the modern patterns of business management and control seen in today’s organizations. The bibliography cites 10 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEmancapital.rtf
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Unformatted sample text from the term paper:
capitalism can manifest with a divergent array of characteristics. Chandler 91997) argued that American business could be divided into two phases, the market economy is the first and the second
is that if managerial capitalism. This is presented as a progression or evolution of business and a logical step that was in the interests of business and created a high
level of efficiency. The model is interesting, but it may also be argued that it is a paradigm that is specific to a particular time and place and cannot be
generalized. To consider if this is true Chandlers (1977) own model should be considered and then changing circumstances may be applied to it to test how it may be
generalized. Chandler argues that the change in the US took place in 1850 when the model of capitalism moved from a market economy where there was perfect competition to managerial
capitalism, which he argues continues to today (Chandler, 1992, 1977). The change is characterised, Chandler argues, by the way business changed and the need for power to be transferred from
the owner of the business (and the capital) to salaried professional managers. He believed the first manifestation of managerial capitalism was in the railroads (Chandler, 1977). The development of the
industry and the scope and scale necessitated new styles of management structures, with the need to employ professional managers to over see operations, entreated with the management of the owners
assets. This was start of what is described as a revolution, with the railway management requirements acting as a catalyst for change that then spread across the commercial environment
as it was this change that created the modern managerial class of workers, where management was seen as a skilled occupation and was accompanied with systems of cost accounting in
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