Corporate strategy in the early 20th century

During the early twentieth century, particularly in the US and Europe, managers rather than academics began to explore and define the management task. F W Taylor in the US and Henri Fayol in France are examples of senior industry figures who started to research that issues. They were holding senior positions in industry for some years. Around the same time, Henry Ford began experimenting to produce goods cheaper and fulfill growing market demand. Here are some early strategies that still recognized today:
1.Innovative technology
2.Replacement of men by machines
3.Search for new quality standards
4.Constant cost-cutting through factory redesign
5.Passing on the cost reductions in the form of reduced prices for the model T Car
After the first world war came he great economic depression of the 1930s. This brought the need for a new order in international currency and just as importantly, the desire for larger companies to gain economies of scale.