Chaper 1 Lesson 15b Learn About Entrepreneurship in History During Colonial Times Entrepreneurs Raised crops such as tobacco and rice Worked as bankers merchants silversmiths candlemakers ID: 538739
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Slide1
Entrepreneurs: Past and Present
Chaper
1: Lesson 1.5bSlide2
Learn About Entrepreneurship in History
During Colonial Times, Entrepreneurs:Raised crops such as tobacco and rice
Worked as bankers, merchants, silversmiths, candle-makers
After the American Revolution, the US began to INDUSTRIALIZE
Entrepreneurs invented machines that increased productivity and helped the economy grow. Slide3
Entrepreneurs Who Changed America
Nineteenth Century Entrepreneurs
Cyrus McCormick – 1831 – the Reaper International Harvester – Navistar International
In 1831Cyrus McCormick took the reaper (which was already invented) and used it to mechanize the job of harvesting crops.
McCormick
had
$60
when he went to Chicago to set up a factory to manufacture reapers.
In time the company that marketed his
reapers evolved
into International Harvester, which produced farm equipment for many years.
Today this
company
is called Navistar International Transportation Company and manufactures International Brand trucks.Slide4
Entrepreneurs Who Changed America
Lydia Moss Bradley – Peoria, Illinois Real Estate Tycoon – Bradley University in 1896
Lydia Moss Bradley, an
entrepreneur
from Peoria, Illinois made millions of dollars in
investments
and real estate.
She transformed seemingly unusable marshland into productive farm land.
She also
founded
Bradley University in 1896.Slide5
Entrepreneurs Who Changed America
John D. Rockefeller – clerk at 16 – Oil refinery at 23 – Standard Oil in 1872 owned all the main oil refineriesJohn D. Rockefeller began working at the age of
16
as a clerk in a small produce company.
At age
23,
he had saved enough money to enter the oil refinery business.
By
1872,
his company, Standard Oil, owned all of the main oil refineries in Cleveland, New Your, Pittsburgh, and Philadelphia.
He became the richest man in the world.
Slide6
Entrepreneurs Who Changed America
Early 20th Century Entrepreneurs
Henry Ford – Model T – Created one of the world’s largest companies, The Ford Motor Company
Entrepreneurs remained very important in the twentieth century.
Henry Ford developed and mass-produced the
Model-T
Automobile
.Slide7
Olive
Ann Beech – co-Founded Beech Aircraft Company which evolved into Raytheon company in 1980
Clarence Birdseye – Pioneered development of packaged frozen foods in
1920s
Clarence Birdseye pioneered the development of packaged frozen foods in the
1920s.
Rose
Knox – Leader in the food industry, Knox Gelatin company 1908Slide8
Entrepreneurial Timeline
The First Woman MillionaireMadam C.J. Walker – 1904 –
Developed hair –care products for African-American Women – Door to Door sales
Opened
Lelia
College to train women to use and sell the product line
Empowered women to take pride in their workSlide9
Entrepreneurs Today
More than 6.5 million small businesses contribute to billions of dollars every year to the U.S. economy!Microsoft, Intel and Apple all started as small businesses
Southwest Airlines, Mrs. Fields’ Cookies, and Estee Lauder make life more pleasant for consumers.
Small companies take more risks, can be more creative, are a significant part of the American Economy.Slide10
Entrepreneurs Today
How is entrepreneurship today different from entrepreneurship during the colonial times?Entrepreneurs today have many more
opportunities.
Prior to industrialization, there were few ways to strike out on one’s own.
Technology
has made entrepreneurship possible for many more people.
These people are creating products and offering services that were not needed decades ago.Slide11
Entrepreneurs Today
What are your reasons for wanting to become an entrepreneur? Do you think they are common to all entrepreneurs, or are some of your reasons unique?independence
Flexibility
Enjoying work