Coming into the 20th century, big business was getting more concentrated – fewer and larger firms...

Coming into the 20^th century, big business was getting more concentrated – fewer and larger firms dominating each industry. Sometimes, they also seemed to be working together to reduce competition and control prices. Critics, including President Teddy Roosevelt, referred to them as the “trusts” – for example, the oil trust, the beef trust, the whiskey trust, the railroad trust, etc.

Roosevelt believed there were “good” big businesses (and trusts) and “bad” big businesses (and trusts). What do you think would be the difference between good and bad big businesses (and trusts)?

Expert Solution

Difference Between Goods & Bad Businesses:

In good businesses or trusts people can focus on work & not on office politics. They trust that if they do their job well, treat people well, & perform, they will get ahead. They don't spent lot of time fighting business boundaries or routine tasks. They are empowered & entrusted & are accountable for outcomes.

In bad businesses or trusts people focus on politics and struggle to do routine tasks effectively & efficiently. The internal processes are so broken that this becomes a vortex into which seemingly all energy is sucked. Almost all projects are successful because there is no clear definition beforehand of what success looks like. They are not even clear on what their jobs are, so there is no way to know if they are getting the job done or not.

Rahul Sunny answered 2 years ago

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