Peter Austria

BUS-0150-400
April 30, 2015
Renaissance
College for me has been a though one because I wasnt able to realize
what major I wanted to go through. I been through computer science to
sociology but was able to find myself in accounting. Business 1050 has
shown me that businesses have gone a long way, from Adam Smiths Invisible
Hand, influences of the Industrial revolution, Peter Druckers view on the
individual worker, and Studs Terkel essay on Mike Lefevre. With these
readings I was able to fully understand why businesses are the way they are
and how my degree itself can help in companies like for Zions that Im
currently working with.
Adam Smith has given guidelines to what businesses should be like in
a free market. He explained the five ingredients which includes, profitmotive, private wealth, free markets, laissez-faire, and the Invisible Hand.
Profit motive is the main goal of a business that wants to gain profits. Private
wealth is Smiths concept that an owner gains from the business some sort of
wealth from the business. Free market is Smiths concept that individual
businesses and firms will determine the market prices and services and
products. Laissez-faire, is in contrast with free market, is Smiths concept that
governments will, let it be, or have no interference with the free market
Invisible hand is the natural guidance of the free market. In the real world, I
have seen how Adams Smiths five ingredients allowed a guideline for what
businesses are. There have been government regulations to help the society
from pollution and business waste. This conflict with Smiths famous Invisible
hand, but for what government has regulated, it has put the greening idea
into business to do it themselves. Businesses strive for profit gains and to
make an impact on environmental issues. This in turn helps accountants
prove that businesses can use Adam Smiths ideology as a guideline through
numbers.
The Industrial Revolution has heavily impact the Business world with
contributions of innovation, and mass productions. Innovation was the key
success to the industrial revolution. Such inventions like the cotton mills and
textile factories have shown improvements in creating products at a faster
rate. This made life easier and allowed people to work in these factories.
Mass productions have improved companys capabilities to supply an every
growing demand for such products. This created mass tensions on the work
force and management, or simple put the labor and the capitol. Working
conditions were harsh and cruel for these workers where people would work
long hours and almost seven days a week. This resulted into what I see now
in the real world of the two classes the wealth, and the work force. The
wealth today are better then they were before where the wealth didnt care
about the work force in the factories, where as now the wealth knows
through Peter Druckers influences has shown the work force is more then
what they are.

Peter Drucker has broadened my perspective of the work force itself.

Drucker explained that the individual workers are the gears that drive the
business and have the most dedication to the company. Drucker moved
away from capitalists and went to non-profit organization because he knew
that the most dedicated worker is in this organization. In my experience of
learning about Peter Drucker, the respect of the common worker allows the
worker to innovate, and allowing them to grow within the company. This
allows for profit gains and at least some failure in the business. Experiences
allow the company to grow with their workers and learn from each other. I
have seen Druckers ideas put to practice through Zions. Management
encourages worker to grow with tuition reimbursement and always asking for
innovation ideas to help save the company money. This allowed me to
understand the company better and to grow within the company as well.
Studs Terkel essay allowed me to view my past of why I want to go college
and motivation for the degree.
Terkel explains in his essay, Mike Lefevre about how Mike a steel
worker stated, he doesnt want his son to be were he is now and that he
wanted a better future for him. This was the highlight of the semester for
me because this motivates me by showing that my parents worked really
hard for me to get to where Im at right now. This class itself has brought
back my motivation and reasoning for going to school and to continue on to
get my degree. In a sense this class was my renaissance of showing me what
is a business, why I want an accounting degree, and more motivation to
reach my goal.
This class alone has taught me everything about business and myself.
Allowing me to understand how my accounting degree makes the bigger
difference. How businesses like Zions allows me to grow and innovate. And
how many influenced individuals created what businesses is today. I finally
understand that businesses have gone a long way and Im here to help carry
on these principles into my career.