The Visible Hand: The Managerial Revolution in American Business
Alfred D. Chandler, Jr. – Management – Pulitzer Prize for The Visible Hand: The Managerial Revolution in American Business (1977)
Alfred D. Chandler, Jr. (September 15, 1918 – May 9, 2007) made a number of publications especially in the later part of his life as the Professor of Harvard University (Carol, 20). However, it is his publication entitles The Visible Hand: the Managerial Revolution in American Business (1977) which is more of interest. His work in The Visible Hand: the Managerial Revolution in American Business (1977) had earned him the Management Pulitzer Prize. One would wish to say that he did not come with a framework for management so it is not worth (Chandler 257). But his work is the essence of history; to know the past and thus plan for the future. His work must trigger a thinking of a scholar interested with management and thus influence them to come up with relevant theories.
Management has remained to be a major aspect of today business enterprises not only in America which was his scope but also in the whole world. That is why this book would be touched by many in the field especially in understanding the history of business management. One is able to see the shift from the earlier formative way of carrying businesses to the large scale enterprises comprising of multi- units. Most important is the change from dependence on the automatic market mechanism was assumed customers would purchase the products because they need them but that involves competition and thus efforts to attract customers (Chandler 259).
Alfred D. Chandler, Jr. discussion of ‘visible market’ must have been due to the literature that he had interacted with, that of Adam Smith ‘invisible market’ takes the lead (Chandler, 458). He sought to inform the theory of invisible hand that things were no longer the same. He had realized a changing circumstance in the world of business (Bucheli, Mahoney & Vaaler, 860). It would be dangerous for a business enterprise to
Alfred D. Chandler, Jr. (September 15, 1918 – May 9, 2007) made a number of publications especially in the later part of his life as the Professor of Harvard University (Carol, 20). However, it is his publication entitles The Visible Hand: the Managerial Revolution in American Business (1977) which is more of interest. His work in The Visible Hand: the Managerial Revolution in American Business (1977) had earned him the Management Pulitzer Prize. One would wish to say that he did not come with a framework for management so it is not worth (Chandler 257). But his work is the essence of history; to know the past and thus plan for the future. His work must trigger a thinking of a scholar interested with management and thus influence them to come up with relevant theories.
Management has remained to be a major aspect of today business enterprises not only in America which was his scope but also in the whole world. That is why this book would be touched by many in the field especially in understanding the history of business management. One is able to see the shift from the earlier formative way of carrying businesses to the large scale enterprises comprising of multi- units. Most important is the change from dependence on the automatic market mechanism was assumed customers would purchase the products because they need them but that involves competition and thus efforts to attract customers (Chandler 259).
Alfred D. Chandler, Jr. discussion of ‘visible market’ must have been due to the literature that he had interacted with, that of Adam Smith ‘invisible market’ takes the lead (Chandler, 458). He sought to inform the theory of invisible hand that things were no longer the same. He had realized a changing circumstance in the world of business (Bucheli, Mahoney & Vaaler, 860). It would be dangerous for a business enterprise to
Cited: Bucheli, M., Mahoney, J. T.1 &Vaaler, P. M. Chandler 's Living History: The Visible Hand of Vertical Integration in Nineteenth Century America Viewed Under a Twenty-First Century Transaction Costs Economics Lens. Journal of Management Studies, Vol. 47, 5, July 2010, pp. 859-883. Carol, M., Alfred du Pont Chandler, Jr. Edmund 's Community Courier, March 2, 2010. Vol. I. 1pp 15- 117. Chandler, A. D., Jr., Shaping the Industrial Century. Harvard University Press, 2005, 256- 47. Chandler, A D. The Visible Hand: The Managerial Revolution in America Business. Harvard University Press, 1977, 456- 560. Fligstein, N. Alfred Chandler and the Sociology of Organizations. California; University of California 2007, pp 1- 45. Matthews, D. The Visible hand? The economics of Alfred Chandler. Georgia, Coastal Georgia Community College; 2012; 12- 32.