Impact of Competition between Big Business and Labor on the Advancement of History

Published: 2022-12-21
Impact of Competition between Big Business and Labor on the Advancement of History
Type of paper:  Essay
Categories:  Company Psychology Literature Medicine
Pages: 6
Wordcount: 1607 words
14 min read

Competition has been significant on the impact and advancement of history. Competition is relative and rather compelling as it has influenced a change in both businesses and societies (Bamiatzi et al. 1448). In this case, the essay examines the impact of competition on history about big business and labor. Big business involves the growth of business activities both locally here in the United States as well as globally whereas labor entails transition of labor association to internationally enforceable labor laws within and outside the country. Therefore, this shows how competition between big business and labor have led to the development of history.

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History of big business dates back to the 1800s and refers to large business corporations as well as unfair business practices (Means 1). The rise of big business has also affected the growth of labor through manipulation of labor organization and failure to comply with labor laws. Also, the growth of the big business was influenced by the growing globalization as well as communism and capitalism in the twentieth century. On the other hand, the history of labor dates back to the days of the slave trade until today where there are minimum wage and laws which protect employees from malicious acts of employers. Competition between big business and labor is very significant as both of these factors codify each other instead, each needs one another to function. For example, for business to grow and become big, there is a need for employees who are ready and will to drive that big business. Therefore, how businesses have grown is likely the same how labor has improved.

To begin with, there is competition between big business and labor in terms of the role of labor organizations. Big businesses affected the thriving of labor organizations as they fail to honor employment laws which require fair treatment of employees (Tiat 183). Therefore, this has been a significant concern in most countries as big business can manipulate systems and exploit employees. The main competition arises when there is a need to provide proper compensation and incentives to employees for their work. Big business colludes with law enforcers to ensure labor organization cannot easily agitate for the welfare of workers. According to this, labor organizations have been frustrated on their efforts to ensure the welfare and rights of employees have been well catered for (Alvesson 73). Just as the definition of big business stands, they are involved in unfair practices which include exploitation of employees.

On the development of history, this has been a significant concern for the federal government and the international community. Trade unionism has greatly changed from the 19th century until now. There has been a success in the role of the labor organization as their role widely regarded by big business. Nowadays it is easier to protect workers through labor organization since they are representatives of all employees (Kraakman & Henry 50). Therefore, they can fight for the rights and responsibilities of workers. Also, just as corporates are involved in policy issues, labor organizations have been included in the same. Thus, this competition indicates the history of the growing labor movement across the world. In most countries, labor associations are recognized both locally and internationally on their effort to protect workers.

Secondly, another competition arises due to the impact of industrialization on both labor and big business. Large businesses have strived to outdo manual labor by investing in mechanization and development of technology for industrial use. Due to this, there has been a great transition from labor-intensive systems to capital intensive labor systems (Roller 372). Human labor cannot compete with the development of technology which replaced it. However, those machines require people to operate and use them. Most laborers lost their jobs in the 19th century due to mechanization. On the other hand, labor only focused on the improvement of the welfare and protection of workers in industries. Even though big business try to outdo the role of labor arises and there is a need for protection of employees through minimum wages and rights of workers. Therefore, even though mechanization improves, new forms of labor arise which means labor and big business are at par.

Consequently, this competition has dramatically led to the development of history. Industrial development has been a gradual process which has increased productivity (Ducker 1). Mechanization meant a new era in the industrial revolution, and this has revolutionized the entire production sector. Productivity improved leading to innovation and modern ways of improving production. Accordingly, economic growth has been impacted, and history has it that industrial growth was as a result of the introduction of capital intensive production. History has developed in terms of reforms in the industrial sector, and these reforms were instigated by big business adventures to grow business and improve productivity. Industrial growth also led to labor reforms as there was a need to cater to skilled laborers as well as other employees - these reforms afforded better working conditions and improved welfare for workers. Therefore, industrialization led to the development of both businesses as well as labor.

Thirdly, there has been a great transition between labor and big business in the United States. The transition relates to the number of hours worked and the rise of the working class as well as increased business activities in the country. The politics and economic issues mainly influenced the life of most workers in the country which resulted in the need for improved welfare of workers (Deresky 1). Therefore, this led to a difference in the approach towards labor as a need to improve the working standards as well as their living standards. Also, employment activities were influenced by race, gender, color, religion, and origin which now labor historians vehemently oppose nowadays as well as report on minimal discrimination in employment (Moldovan 299). The rise in the working class called for improved employment regulation which led to the emergence of equal employment opportunities. There are laws like the Equal Employment Opportunity Act 1972, the Equal Pay Act 1967 and there is an established Equal Employment Opportunity Commission which is responsible for eliminating employment discrimination (Leonard 270).

On the other hand, regulation of big business has rapidly improved. Laws and regulations are governing how businesses are formed and how they transact (Doh et al. 293). There are laws which regulate financial activities of big business as they are required to follow rules of financial reporting through the Generally Accepted Accounting Principles (GAAPS) and International Financial Reporting Standards (IFRSs). Also, there is regulation on how the companies' source finances through stocks by trading on the stock exchange or accessing the bonding market. Nevertheless, this has been a global practice as most businesses are highly regulated since the inception of capitalism and communism. Although the motive of business is to seek profit, this business is regulated.

Put differently; history has developed on matters of financial regulation and employment regulation. Before the 19th century, there was minimal regulation for both employment and big business. Therefore competition between labor and big business has seen growth in regulation. Therefore this has streamlined employment and business across time as it easy to manage both business and labor. There also state and federal laws for both employment and labor. Currently, the United States business market is highly regulated which means the company has to meet certain requirements to operate with minimal disruptions from the governments (Kaufmann 1). Also, employment laws have to be complied with to ensure every worker is well protected and his rights have been upheld by employees.

In conclusion, the competition between big business and labor has significantly led to the growth of history. The essay shows that competition between labor and big business has led to the historical development of labor organizations within the United States and the entire world. Their role is being appreciated in every part of the world, and there are even international labor organizations. Also, the competition has led to the development of history on industrialization due to shifts from labor-intensive system to capital intensive systems. History can explain the historical activities that led to modern industrialization. Moreover, competition between big business and labor has increased regulation and reforms. History is used as an indicator of reforms in different nations, and there are laws which have reformed in terms of business as well as labor. Initially, there were minimal laws, but now both labor and businesses are highly regulated.

Works CitedAlvesson, Mats. Organization theory and technocratic consciousness: Rationality, ideology and quality of work. Vol. 8. Walter de Gruyter GmbH & Co KG, 2018.

Bamiatzi, Vassiliki, et al. "Revisiting the firm, industry, and country effects on profitability under recessionary and expansion periods: A multilevel analysis." Strategic management journal 37.7 (2016): 1448-1471.

Deresky, Helen. International management: Managing across borders and cultures. Pearson Education India, 2017.

Doh, Jonathan, et al. "International business responses to institutional voids." (2017): 293-307.

Drucker, Peter. The age of discontinuity: Guidelines to our changing society. Routledge, 2017.

Kaufmann, Walter. Going by the book: The problem of regulatory unreasonableness. Routledge, 2017.

Kraakman, Reinier, and Henry Hansmann. "The end of history for corporate law." Corporate Governance. Gower, 2017. 49-78.

Leonard, Jonathan S. "Advancing Equal Employment Opportunity, Diversity, and Employee Rights: Good Will, Good Management, and Legal Compulsion." Industrial Relations to Human Resources and Beyond: The Evolving Process of Employee Relations Management. Routledge, 2016. 270-304.

Means, Gardiner. The modern corporation and private property. Routledge, 2017.

Moldovan, Jessica A. "Authenticity at Work: Harmonizing Title VII with Free Speech Jurisprudence to Protect Employee Authenticity in the Workplace." NYU Rev. L. & Soc. Change 42 (2018): 699.

Roller, Michael Peter. Migration, modernity and memory: The archaeology of the twentieth century in a northeast Pennsylvania coal company town, 1897-2014. Diss. 2015.

Tait, Vanessa. Poor Worker's Unions: Rebuilding Labor from Below (Completely Revised and Updated Edition). Haymarket Books, 2016.

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