Taking a broad view of historians' work on the rise of big business in the United States over the last half-century, this article attempts to assess both where business history has been and where it may go in the future. The analysis recognizes the centrality of the impact made by Alfred D. Chandler, Jr., but it also delves into other paths, including some not taken, of interest to historians. This wide-ranging interpretation also maintains the importance of big business itself as a subject worthy of historical attention and argues that its crucial role in the development of American society has not yet been considered by mainstream historians with the intensity it deserves. Musing over the nearly constant preoccupation of practitioners with defining the scope of business history as a field, the essay highlights a number of topics needing attention, suggesting that historians of business are well positioned to shed light on the growing role of business in all aspects of life in the twenty-first century.

Between 1890 and 1940, motion pictures changed from technological novelties into heavily branded consumer products. The high sunk costs and short “shelf-life” of movies led film producers to borrow branding techniques from other consumer goods industries. They tried to build audience loyalty around a number of characteristics, but eventually learned that stars and stories were the most effective “promotion machines,” able swiftly to generate massive brand-awareness and to persuade consumers to see a new film. Data from the United States, Britain, and France showing the disproportionate distribution of income and fame among stars confirm their role as persuaders. Ultimately, film producers extended the life of their products by licensing their instant, tradable brands to other consumer goods industries.

The three companies whose history forms the subject of this article became leaders in a sector of the British economy—consumer goods—generally regarded as one of the most successful in the late nineteenth and early twentieth centuries. Product innovation and development, achieved internally or through acquisition, enabled these firms to become market leaders. We therefore analyze the processes of product development within the three firms, using a systematic framework that allows us to offer generalizations about the process of product innovation and development in the consumer goods sector in Britain. We conclude that gradual modification, rather than revolutionary innovation, was characteristic of product development in the household goods trade, and that technology was less important for success than marketing skill.

Management theory andtransaction cost economics provide few insights into the dynamics of multilateral negotiations. A host of factors suggest that complex transactions—especially those that involve government agencies—face a high probability of failure. Yet history records many examples of successful multiple-party transactions. Using the records of a major Australian iron ore mining venture, Hamersley Iron, this article reveals a number of the tactics that are usedto engineer an agreement when the parties concerned have conflicting objectives, different cultural affiliations, and distinctive institutional ties. The essay also exposes some of the devices that the Japanese steel industry—Hamersley’s main customer—used to secure competitive advantages in raw material procurement during the industry’s rise to international prominence.