The Industrial Revolution Business has gone through several different stages of evolution from feudalism to the industrial revolution. In the following, each stage of business evolution will be examined and explained in detail.
FeudalismThe business or economic system in which one class of people, aristocrats, control the property rights to all valuable resources, including people.
The Hierarchy of English Aristocrats is indicated to the right of the description of Feudalism. The position in which an individual held was determined by the income they generated. The more income you made, the higher position you held in the hierarchy. The kings and Queens were the highest in rank who controlled everyone and everything that happens in their land.
Hierarchy of authorityDating back in the Stone Age, the beginnings of Feudalism were starting to take place.
Business has always been the stepping stone to a grand life, rather it be a great nation or corporation.
During the time of the stone age, there was a chief who had authority over everyone. There were hunters who hunted wild animals for food to distribute to the tribe or clan. The food gatherers would gather and clean all the food the hunters would bring in. Craftspeople would make clothes and weapons out of the hides and bones of the animals hunted. The priests, shamans, and sages were responsible for providing "protection" and religious hope.
MERCANTILISMBusiness or economic system in which merchants and bankers organize the trade of products across markets and countries until they are put to their most valued use.
Mercantilism existed back in Egyptian times also. It was a huge part of Egypt and it's economic existence. There was some papyrus records found that described boundless quantities of grain and olive oil being stored in warehouses that extended over several fields in Alexandria, Egypt.