Strategy can be defined as the determination of the long-term goals and objectives of an enterprise, and the adoption of courses of action and the al… - Alfred D. Chandler Jr.

Increase on productivity and decrease in unit costs (often identified with economies of scale) resulted far more from the increases in the volume and velocity of throughput then from a growth in the size of the factory and plant.

Men's mind and abilities grow and expand with use of responsibilities.

The market remained the generator of demand for goods and services, but modern business enterprise took over the functions of coordinating flows of goods and services through existing processes of production and distribution, and of allocating funds and personnel for future production and distribution. As modern business enterprise acquired functions hitherto carried out by the market, it became the most powerful institution in the American economy and its managers the most influential group of economic decision makers. The rise of modern business enterprise in the United States, therefore, brought with it managerial capitalism.