Henry Heinz and Marshall Field Business Comparison

1. Contrast and compare Henry Heinz and Marshall Field as entrepreneurs, leaders and managers as defined in the article, Zeitgeist Leadership.

Both Henry Heinz and Marshall Field are well known entrepreneurs. Heinz would make huge off processed foods while Field would make huge profits off department stores. Both these entrepreneurs took advantage of transportation opportunities and exceptionally large markets for their product. In contrast Heinz started out from the beginning and was partners upon creating the business although he bought out his partner not long after things got rolling. Field just worked for the company and quickly rose to power after buying into partnership and eventually buying the whole company. Heinz suffered bankruptcy while Field had low debt after the panic of 1873. Field focused on quality customer service and coined a few terms from his great customer service. Heinz focused on quality products making the customers happy from such a quality product. While they are both different in ways they were also the same in ways as well, Heinz and Field are true entrepreneurs and paved the way for many more entrepreneurs to cash in on big profits.  

1. Discuss the various factors in both demand side and supply side shifts that entrepreneurs must understand to create a market for a new product that will meet customers’ needs.

There are various factors both in demand and the supply side shifts that entrepreneurs must understand to create a new product that will meet the needs of the customers. First with the demand side, there must be demand for the product from customers, there must be enough demand to keep on the profit side of things for the manufacturer, also there must be high enough profit margins for entry into the market. The supply side of things, there must be enough steadily available resources for the manufacturer to keep rolling with production, the resources must be reasonably priced so the margins aren’t too slim.

1. Discuss the role of slavery and Indian removal in the expansion of American capitalism during the early 19th century.

During the early 19th century due to federal law and court decisions to weaken treaties of tribes, colonization numbers decreased and whites pressured the tribes for the land. The tribes would hunt, fish, and gather for the essentials of life and to stay alive. They would also grow such things as tobacco, when they started to get taxed on their crop there was no use in growing it anymore due to the high tax. The Indians essentially had to start working for an hourly wage due to not owning any land and not being able to grow crop for profit, this would allow expansion of American Capitalism due to all the new workers.