Describe key innovations in strategy that led to success in relation to Economic Approaches in the Age of Industrializaton (1870-1940)

Innovative Entrepreneurs—Walker and FordHere you will focus on the business approaches of Madame C. J. Walker and Henry Ford. Both developed innovative and successful approaches in a time of rapid economic change. You will compare them in the way they started their respective businesses and the key innovative features that made each successful. One might find virtues, problems and successes associated with both. You might see elements of each in strategies of later leaders and related issues even today. Sources: Schultz, p. 396–7 (only Ford is discussed in our textbook). For Madam C. J. Walker (1867–1919), see http://www.madamcjwalker.com/bios/madam-c-j-walker/ [now at http://madamcjwalker.com/about/]; and https://www.pbs.org/wnet/african-americans-many-rivers-to-cross/history/100-amazing-facts/madam-walker-the-first-black-american-woman-to-be-a-self-made-millionaire/ . History and Issues – This section will describe the background of each person’s struggles or success at business development and the motivations. Describe key innovations in strategy that led to success. There should be at least one paragraph for each strategy. Comparison – This section of the paper you evaluate what you see as the strengths and weaknesses of each strategy and the impacts of each in that period of history. Explain which approach you favor and why. Conclusion – Identify similar issues or approaches that developed later as well as similar approaches happening today.