Word: marketization
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Dates: during 1990-1999
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...which was designed by the first registered black architect and situated near the estates of John D. Rockefeller and Jay Gould. At a time when unskilled white workers earned about $11 a week, Walker's agents were making $5 to $15 a day, pioneering a system of multilevel marketing that Walker and her associates perfected for the black market. More than any other single businessperson, Walker unveiled the vast economic potential of an African-American economy, even one stifled and suffocating under Jim Crow segregation...
...retrospect, the whole thing looks like an outrageous violation of old-fashioned American free-market principles. But in 1966 virtually no one but Rozelle was thinking of pro sports as a seriously big business. The notion of pro football's "bargaining power" was patently absurd. Having formed his cartel, however, Rozelle managed it in much the same way the Japanese zaibatsu manage their cartels--with a view to market share (read: global domination...
...created one of the first global corporations. He saw long before his contemporaries that a shrinking world could present enormous opportunities for a company that could think beyond its own borders, both physically and psychologically. And he pursued that strategy with his relentless brand of energy in every market, particularly the U.S. It is notable that this year, according to a Harris survey, Sony is rated the No. 1 brand name by American consumers, ahead of Coca-Cola and General Electric...
...technology and quality to the consumer. One of Sony's first products was a transistor radio, produced in 1955. While the transistor was developed by Bell Labs and produced by Western Electric, it was Sony that first used it for a small pocket radio, in 1957, creating a new market in the bargain...
Sony's globalization began in the U.S., where Morita moved his entire family in 1963. In that way he would understand Americans, their market, customs and regulations, thereby increasing the chance of his company's success. It was a brilliant decision. Not many businessmen in those days possessed such a passionate and determined business vision. In the U.S., Morita settled into a large Fifth Avenue apartment in Manhattan. He built a solid and valuable network by continually socializing and giving parties during the week, a habit he maintained throughout his career...