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The Industrial Revolution

Dive into the innovations of the Industrial Revolution and create a comprehensive business plan to manufacture, market, and sell one of the era's groundbreaking inventions. Will your company thrive or become one of the many failures?

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The Industrial Revolution

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  1. The Industrial Revolution In the decades following the Civil War, the United States became an industrial giant. Old industries expanded and many new ones, including petroleum refining, steel manufacturing, and electrical power, emerged. Railroads expanded significantly, making more of the country accessible to the growing national market economy. Industrial growth transformed American society. It produced a new class of wealthy industrialists and a prosperous middle class. It also produced a vastly expanded blue collar working class, including millions of newly arrived immigrants and an even larger number from the countryside that added to the nation’s rapidly growing cities. Americans who were born in the middle of the 19th century would experience enormous changes in their lifetimes. Some of these changes resulted from a sweeping technological revolution. Their major source of light, for example, would change from candles, to kerosene lamps, and then to electric light bulbs. They would see their transportation evolve from walking and horse power to steam-powered locomotives, to electric trolley cars, to gasoline-powered automobiles. (Library of Congress) These inventions would change the face of America.

  2. The Task The inventors of the Industrial Revolution have asked you to create a company that will manufacture, market and sell their products. Do YOU have what it takes to create a successful business? First, you will complete research on one of the numerous inventions during the Industrial Revolution. Next, you will create a “business plan” that will outline your vision of your new company. Finally, you will create a full-page advertisement for the product that you will be marketing.

  3. The Research Below is a list of inventions. Choose one. Then click on the following link to complete your research.Inventions between 1850-1900 • Fountain pen (Lewis Waterman) • Light bulb (Joseph Swan, Thomas Edison) • Telephone (Alexander Graham Bell) • Phonograph (Thomas Edison) • Dishwasher (Josephine Cochrane) • Coca-cola (John Pemberton) • Cash register (James Ritty) • Typewriter (Christopher Scholes) • Zipper (W.L. Judson) • Vacuum cleaner (J.S. Thurman) • Washing machine (Hamilton Smith) • Elevator brakes (Elisha Otis) • Sewing machine (Isaac Singer) • Gatling gun (Richard Gatling) • Pullman sleeping car (George Pullman) For those of you who like a challenge, choose one of the inventions below by clinking on the link! • Pasteurization (Louis Pasteur) • Plastic (Alexander Parkes) • Internal Combustion Engine (Jean Lenoir) • Steel (Robert Mushet)

  4. The Business Plan You will create a business plan that will include the following information. Use an outline-type format to explain how your business will operate. Click here to see a sample business plan. 1. EXECUTIVE SUMMARY (Introduction) 1.1. Name of business 1.2. Description of the invention. (Note that some inventions were improvements of prior inventions) 1.3. Information about the inventor 2. COMPANY SUMMARY 2.1. Location of business. Explain why you chose the particular location. 2.2. Where do you see the company in 5 years? In 10 years? 2.3. Estimate how many employees you will hire. What kind of employees will you hire? (skilled, unskilled, men, women, children?) 3. PRODUCT 3.1. Describe your product in detail. What does it do? Does it have any other uses? 3.2. Future products. How will this technology change in 5 years? In10 years? 4. STRATEGY AND IMPLEMENTATION 4.1. Who will you sell to? Think of at least 2 types of buyers 4.2. How will you “market” your product? Marketing is the process of “advertising” your product to potential customers. You will need to create an advertisement for your product. See page 468 in your textbooks for an example. 4.3. How will you get your products there? What forms of transportation will be used? 5. MANAGEMENT SUMMARY 5.1. You are President of the company. 5.2. You will need to hire a Vice-President, Sales and Marketing Manager, Product Manager and Finance Manager. Choose people in the class that you feel are qualified. Ask them they are willing to work for your company.

  5. Evaluation (rubric)

  6. Conclusion Congratulations on the completion of your business plan. You have completed the first step in starting your own business. Now sit back and watch the money roll in! (if you’re lucky…) Some food for thought: Although many of these inventions during the Industrial Revolution were ingenious, many inventors did not make a fortune from their creative ideas. Alas, others who modified/improved the original inventions made the money! (For example, Henry Ford) Approximately 4 out of 5 businesses fail within the first 3 years. Why do you so many businesses fail? How do you think yours will do? As you watch television or read magazines, notice how companies market their products to you.

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