ENTREPRENEURIAL of various US-based industries were also researched (Mezias

ENTREPRENEURIAL
LESSONS FROM THE EARLY AMERICAN            CLOCK
INDUSTRY (1807-1850)

 

The
entrepreneurial spirit changed into alive and properly in Pioneer times
(Perkins, 1989), however, in the early years of the republic the embers of
entrepreneurship have been fanned into an excellent flame that has persisted to
convert the united states to this very day. The various factors of
entrepreneurship which have been diagnosed and studied by modern-day
researchers may be seen in practice inside the early 19th century u.s. clock
industry (Murphy, 1961). early members in this enterprise proved to be
relatively entrepreneurial as they moved clock making from a cottage enterprise
to state-of-the-art mass production. alongside the manner, these entrepreneurs
developed modern financing, marketing, and manufacturing strategies. one of the
maximum exciting innovations become the development of the entrepreneurial
peddler system, which changed into used for many years because of the primary
channel for the sale and distribution of clocks (keir, 1913).

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Method –

Historical testimony and histories of various clock
entrepreneurs (Bailey, 1986; Murphy, 1961, 1966; Roberts and Taylor, 1994) were
reviewed. Publications covering the history of various US-based industries were also researched (Mezias and Kuperman,
2000, the film industry) including early American entrepreneurship and its
economic implications (Tucker and Tucker, 2004, the textile and apparel
industries) and Schumpeterian developments (Scott, 2006).

Results
and Implications –

An analysis of the early
American clock industry from 1807 thru 1850 evidenced a length in American
records exemplified via extreme entrepreneurial hobby and innovation. The
American clock industry and its itinerant peddler gadget of distribution become
at the leading edge of a manner of social transformation whereby rural America
became habituated to the consumption of mass-produced purchaser products just
like the Connecticut self-clock. The
analysis located that entrepreneurial peddlers serving as each distributor and
marketplace maker followed high stages of each an advertising and entrepreneurial
orientation and taken about a purchaser orientation to rural America. This look
at additionally determined that Schumpeter’s “creative destruction”
characterized this early length of Yankee improvement. the ancient cottage
enterprise that had supplied rural America became changed with the manufacture
and sale of industrially produced patron items made to be had by the efforts of
the itinerate peddler entrepreneur.The authors contend that the look at of the
early American clock industry presents researchers and students lessons that
nowadays have to persevere with impact at the theories and practices of
modern-day entrepreneurship with implications for each developing and industrial
nation economies.

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