The Global Container Shipping Industry

The Global Container Shipping Industry The global container shipping industry can be characterized as an oligopoly. Moreover, there are few sellers and the provided services or products are quite similar. It is important to examine the market structure in three levels: the industry, the alliances and the trade level. The market is characterized by globalization. As a result, there is a need to meet customers demands and invest in resources as well as technology. So we can say mention the expansion of the world economy and the world trade. Shipping companies have two choices, form an alliance or the other one is mergers and acquisitions. I will also use a graphic explanation to present the trends and how the industry has evolved over the past years. Lastly, this assignment mentions the importance of the oligopolistic characteristics in the global container shipping industry. THE INDUSTRY In the global container shipping industry we could meet collusions which are more commonly known as shipping conferences. We all know that their principal activity is to fix freight rates in certain routes and set barriers in the entry of new firms. Conferences are cartels acting like monopolists, because there were substantial scale economies in the industry that led to a small number of firms (Marshall,1921). After the abolishment of the anti-monopoly immunity of freight conferences (18 October 2008, Regulation 4056/86) and given the trend of growing consolidation the market evolves into a more collusive market where operational agreements are more important. The market has become more concentrated and the smallest operators have a market share of less than 1% each. As we can observe from table 1 above top 10 carriers have a market share of 63.5%. Comparing to the market share of top ten carriers in 2000 which was 49.3% (alphaliner) there is a remarkable increase in market share as well as in total TEUs. Moreover, few firms hold most of the market power and probably can influence in a high grade the market. They can set entry barriers and also make agreements on the freight rates. It is very important for firms to cooperate and acting like monopolists. As a result, each firm must be aware of the other players actions. Due to, this oligopolistic characteristic the industry is more complex and needs to face many factors. Moreover, the rapidly changing customer requirements, the deployment of ever larger container vessels, advances in information technology, increasing competition and intense consolidation.( ) Leading to few firms controlling the high trade routes and to the phenomenon of multi-trade strategic alliances. ALLIANCES We can also measure the degree of concentration by analyzing the alliances that have been created over the past years. This is a common implication in oligopolistic markets and of great importance. An alliance helps to obtain greater market shares and control more effectively the trade routes as well as the capacity. We can notice almost five advantages in the trend of alliances in the global container shipping industry. Furthermore, it can serve more efficient wider geographically routes. Secondly, they can plan their vessels in a more global scope. Of course, there is less risk, because risks are shared. They can offer more frequent services to their customers, meaning more frequent schedules. Lastly, economies of scale become more visible and there is also an increase in the size of the ships. (Ryoo, 2000) It is noteworthy to analyze three of the most important alliances over the past years. Furthermore, these three alliances started with an agreement on collaboration for east-west trades and then extended to north-south services. The first alliance we will examine is New World Alliance. It includes mainly APL, MOL and HMM. Its overall capacity in TEUs is 1.161.468 and owns 282 vessels. Imagine that in 2000 the capacity of this alliance was 325.487 and the number of vessels 90. As we can see it highly increased its market share and this is very important in oligopolistic markets, because you can influence the market as well as manage more properly the capacity. Another noteworthy alliance is the Grand Alliance. In February 2006, after PO withdrawal the new Grand Alliance formed by Hapag-Lloyd, OOCL, and NYK Line. Its overall capacity in TEUs is 1.187.607 and owns 288 vessels. In 1996 it owned only 255.705 TEUs and 72 vessels. Grand alliance manages twelve services in the transpacific trade. Lastly, this alliance has showed the most stable formation comparing to the other two alliances. The greatest alliance is CKYH with main partners Hanjin, Yang Ming, K Line and COSCO. It counts 1.548.508 TEUs and 400 vessels. It manages eight services on the Europe Asia route which has the largest capacity in TEUs. Surely, this alliance has a great market share and also is highly competitive. Of course, alliances have a great impact in the market share, but it is difficult to cooperate as the size of the group increases. They act like monopolists, because they can influence the price. Competition makes difficult to other firms to compete or enter in the market. This characteristic is of highly importance in order to survive in this tough market where overcapacity and decreasing demand exists nowadays. Firms may find many reasons why to join an alliance: strategic reasons, operational reasons, in order to increase or decrease connectivity to increase or decrease capacity, to introduce a new service, to suspend a service, to merge services, to demerge services, to offer slots for charter and to offer slots. (Panayides, 2011) TRADE LEVEL We will examine the trade level of two routes, Black Sea Far East and US trade. Moreover, we will focus on the trade lane with port ranges at either end. (Brooks, 2000) In the route Black Sea Far East the top seven firms have a market share of total 89%, so the other firms have only the rest 11%. Surely, there is a very high percent of concentration in this trade route. Moreover, MSC holds 23,15%, Maersk Line 20,33%, CMA-CGM 13,81%, Zim 13,55%, CSAV Norasia 11,64%, Hapag Lloyd 4,99% and K Line 1,53%. (www.dynamar.com) We can conclude that a tight oligopoly exists in the trade line of Black Sea Far East. Meaning that the production rises but there is a decrease in price, because the firms possess large shares and acting more like monopolists. Furthermore, it is difficult for new firms to enter this lane. The other trade line that we will examine is US which is more complicated than the previous one. Moreover, the top ten firms hold almost a 65% of the total market share. So we can say again that in trade line exists an oligopoly, but the firms are much more and hold less market shares. Maersk Line market share is 15,27%, Evergreen 7,67%, Mediterranean Shg Co 7,20%, Hanjin 6,54%, APL 6,18%, Hapag Lloyd 6,05%, COSCO Container Lines 4,28%, OOCL 4,26%, NYK 4,04% and China Shg C.L 3,90%. A close exam of this market shows us that competition is greater, but the market is larger and very attractive to new firms. As a result, if we use efficiently the oligopolistic characteristics firms will increase their market shares and it will be more difficult for new firms to enter. Of course it is difficult to cooperate efficiently when the size of the group increases, but you can handle more adequate the capacity and the competition something that is very important nowadays. After analyzing these two different trade lines we understood the meaning of the existence of the oligopolistic characteristics. Moreover, capacity can be handled more efficiently and minimize competition by increasing your shares. GRAPHIC EXPLANATION OF THE IMPORTANCE OF OLIGOPOLISTIC CHARACTERISTICS IN THE GLOBAL CONTAINER SHIPPING INDUSTRY I believe a better explanation can be given by using a graphic explanation to mention the importance of the oligopolistic characteristics in the global container shipping industry. Moreover, we know from theory that in perfect competition demand curve intersects Marginal Cost curve at the market price P* and it supplies quantity Q*. The firms in this graph are price takers, because there are no entry barriers. Now let see what an oligopolistic firm will do. It will reduce quantity to Q0 and at the same time will increase the price P0 until Marginal Cost equals Marginal Revenue. However, a deadweight loss (consumer and producer) will be created, meaning that the welfare losses to the economy. Lastly, we can observe a surplus to the firm as an oligopoly profit. This result can be represented in the global container shipping industry by selling at greater prices and offering lower services. Furthermore, smaller containers, slower service etc as the market becomes more oligopolistic. Secondly, firms may try to increase their market power or setting entry barriers. Of course these two result to collusion practices. Moreover, greater concentration can create collusions and reduce coordination costs. However, there are also benefits from the increase in concentration. A firm may increase its profits by taking market power from its rivals. This action can motivate the firm to offer a better product or service. In shipping industry a better product or service means offering larger containers than other firms or by investing in research and development. Moreover, a firm may invest in order to keep consumers loyal. So the firms can behave more competitively. As the market is acting like an oligopoly, it has resulted in two major trends. First, there has been an increase in container ship sizes. Secondly, there has been an important growth in container throughput. For example, seventeen of the top twenty five routes are served with ships exceeding 9000 TEUs. On the other hand, using larger ships you need to make enormous investments in port infrastructure. Lastly, it has reduced the costs of transportation and local economies have been transformed to global economies. Conclusion The global container shipping industry is mainly an oligopoly (few players and mainly provide similar services). I tried to mention the importance of the oligopolistic characteristics in this market. Moreover, I noticed that big alliances control the majority of the total market share and also high concentration exists even in the trade routes. Highly concentrated markets lead in many occasions to collusions or cartels. It is very dangerous due to anti-trust laws, especially after the abolishment of the anti-monopoly immunity. However, such agreements are very beneficial for the participating firms. It is best off to cooperate, but it is very difficult especially when the size of the group increases. From the graphic explanation we concluded that it is better to produce small quantity and charge prices above marginal cost. Nevertheless, it is up to firms if they are going to have negative or positive results. In my opinion, the oligopolistic characteristics in the global container sh ipping industry lead the market to evolve and become capable to handle the phenomenon of overcapacity and increasing fuel costs.

Motivation at Panasonic Essay

Motivation at Panasonic Introduction Panasonic is very huge and world famous corporation. Panasonic is much more than a well-known brand name. It stands for the depth and diversity of our research capabilities, manufacturing expertise and product selection. It stands for the advanced technology of products, from easy-to-use consumer goods to sophisticated medical, broadcast, business and industrial systems. Visit the Panasonic Web site (http://www. panasonic. com) and you’ll quickly see the broad range of consumer, business, industrial and broadcast products offered. Business customers, seeing this wide range of expertise, have asked us to provide entire system wide solutions for all their electronics needs. Our engineers are rising to the challenge. The demand for this â€Å"one-stop shopping† is becoming a major growth area for the company as technology becomes more sophisticated and omnipresent. No matter if it’s a giant hotel, a stadium or a major metropolitan transit system, Panasonic is meeting customers’ needs. The research Question What motivate customers? What motivate employees and supervisor? How could this theory help you motivate the various individuals who work for you? How could you encourage the need for achievement in others? What are some of the difficulties in attempting to motivate high –NACH individuals in organizations? What evidence exits for the use of various types of reinforcement, vicarious learning, and self-control? What makes people kill others? There are questions that are unclear in many minds. Through this research, it is hope that the readers likewise will have a clearer view and understanding of motivations. Methodology The university library has very limited materials available for research purposes, and internet resource is not enough. For this reason and for fact that the scope of this research is limited to motivation, the research only used resources available. Literature search How to define motivation To define what motivation is, let us begin by point out what motivation isn’t. Why? Because many people incorrectly view motivation as a persona trait, that is, they think that some have it and others don’t. In practice, this attitude would characterize the manager who labels a certain employees as unmotivated. Our knowledge of motivation, though, tells us that people can’t be labeled in this way. What we know is that motivation is the result of the interaction between the individual and situation. Certainly, individuals differ in motivational drive, but an individual’s motivation varies from situation to situation. As we analyze varies both between individuals and with individuals at different times We’ll define motivation as the willingness to exert high levels of effort to reach organizational goals, conditioned by the effort’s ability to satisfy some individual need. Although general motivation refers to effort toward any goal, here it will refer to organizational goals because our focus is on work-related behavior. The three key elements in our definition are effort organizational goals, and needs. Motivation is the willingness to exert high levels of effort toward organizational goals, conditioned by the effort’s ability to satisfy some individual need. The motivation process begins with an unsatisfied need, which creates tension and drives an individual to search for goals that, if attained, will satisfy the need and reduce the tension. Motivation is the forces that energizes behavior, give direction to behavior, and underlines the tendency to persist. It is an internal force. NO one can really measure it; even the person involved himself or herself. How we measure motivation is by simply watching the behavior, actions, and performances of the people in their search for fulfillment towards their goals. These actual performances are likely to be a function of their own abilities, motivations, and working conditions of their environments. Motives are dynamic and they are constantly changing as a result of the rise and fall of a motive’s importance as it is satisfied or not. Dr. Abraham Maslow The best known theory of motivation is probably psychologist Abraham Maslow’s hierarchy of needs theory. He stated that within every human being there exists a hierarchy of five needs. Physiological needs . This most basic level of Dr. Maslow’s hierarchy includes the needs for food, water, sleep, oxygen, warmth, and freedom from pain. If these needs are unsatisfied, an individual’s actions will be dominated by attempts to fulfill them. If these needs are sufficiently met, the second set of needs will emerge. Safety needs. These needs relate to obtaining a secure environment in which an individual is free from threats. It includes security and protection from physical and emotional harm Social needs. The third set needs include the need for affection, belongingness, acceptance, and friendship. Esteem needs. Internal esteem factors such as self respect, autonomy, and achievement and external esteem factors such as status, recognition, and attention. Self-actualization needs. Growth, achieving one’s potential, and self-fulfillment; the drive to become what one is capable of becoming. As each need is substantially satisfied, the next need becomes dominant. From a motivation viewpoint, the theory says that, although no need is ever fully gratified, a substantially satisfied need no longer motivates. If you want to motivate someone, according to MASLOW, you need to understand where that person is in the hierarchy and focus on satisfying needs at or above that level. MASLOW’S need theory has received wide recognition, particularly among practicing managers. Its popularity can be attributed to the theory’s intuitive logic and ease of understanding. David McClelland David McClelland and others have proposed the three-needs theory, which maintains that there are three major relevant motivates or needs in work situations: Need for achievement(NACH) , Need for power(NPOW) , Need for affiliation(NAFF). Some people have a compelling drive to succeed, but they are striving for personal achievement rather than for the rewards of success per se (NACH). They have a desire to do something better or more efficiently than it has been done before. This drive is the need for achievement. From research concerning the achievement need, McClelland found that high achievers differentiate themselves from others by their desire to do things better. They seek solutions in which they can attain personal responsibility for back on their performance in order to tell whether they are improving or not, and in which they can set moderately challenging goals . High achievers are not gamblers; they dislike succeeding by chance. They prefer the challenges of working at a problem and accepting the actions of others. An important point is that they avoid what they perceive to be very easy or very difficult tasks. The need for power is the desire to have impact and to influential. Individuals high in NPOW enjoy being â€Å"in charge†, strive for influence over others, and prefer to be in competitive and status-oriented situations. The third need isolated by McClelland is affiliation (NAFF), which is the desire to be liked and accepted by others. This need has received the least attention by researchers. Individuals with high NAFF strive for friendships, prefer cooperative situations rather than competitive ones, and desire relationships involving a high degree of mutual understanding. Mr. McClelland proposed that a culture’s growth is due to level of need for achievement inherent in its population. His research indicates that increases in the level of need for achievement precede increases in economic activity. He also proposed that achievement motivation can enhanced in adults who others lack high level. Adams’s theory Employees don’t work in a vacuum. They make comparisons. If someone offered you $60,000 a year on your first job upon graduation from college, you would probably grab the offer and report to work enthusiastic and certainly satisfied with your pay. How would you react if you found out a month or so into the job that coworker -another recent graduate, your age, with comparable grades from a comparable college -was getting $70,000a year? You probably would be upset! Even though, in absolute terms, $60,000 is a lot of for a new graduate to make, that suddenly would not be the issue. The issue would now center on relative rewards and what you believe is fair. There is considerable evidence that employees make comparison of their job inputs and outcomes relative to others and that inequities influence the degree of effort that employees exert. Developed by J. Stacey Adams , equity theory says that employees perceive what they get from a job situation (outcomes) in relation to what they put into it (inputs) and then compare their inputs -outcomes ration with the inputs-outcomes rations of relevant others. Worker will balance the input and out put in different way. Such as 1Change their own perception 2Change other’s inputs or outputs Change our own inputs or outputs 4Choose another comparator 5Quit job. Reward System Motivating employees can be through extrinsic rewards which come form sources that are outside and intrinsic rewards which are more accurately characterized as self administered, arising form within the person. More specifically, motivating different employees are done differently. Motivating professionals differ from mo tivating contingent workers, motivating volunteer differ from motivating temporary employees. The professional employees are usually university graduates. They receive intrinsic satisfaction from their work. They are differing from non professionals. They have long term commitment with their field of expertise. They are loyal to their profession and not to their employees. They need regular update of their knowledge. They are well paid and enjoying what they do. The contingent employee would be more interest in having an opportunity to get a permanent job than anything else. They work contingent, if the company now are lack of secretary, then they must do the job as secretary; if the company need operators, then they must do the job as operators, they are not the formal employees in the company. The hours volunteers give to make programs and special events successful, and the fundraising contact they have with your donor base, make them key spokespersons. Volunteers can be your organization’s strongest recruiters, whether for additional volunteers, or for financial contributions. The most credible source of information within your organization to someone without any personal knowledge of it, volunteers must be informed and up-to-date about your organization’s mission, projects and plans. They need support and feedback. The temporary employees enter into a new company, whether it is for a few hours or a few weeks, they are naturally unsure and uncomfortable with the new environment. They are adapting to new and different management styles and are challenged by assuming somebody else’s responsibilities. Temporary employees are not second hand employees. Many choose to be a temporary employee for flexibility, variety of work experience, and mobility or are looking for permanent work in a company of choice. They have their own professional goals and are there to make things easier for your company. They are motivated by respect of others. Motivation at Panasonic The researcher will talk about motivation at Panasonic from two aspects. 1. Motivating employees The employees at Panasonic are only of two kinds: the supervisor and the employees. The supervisors are likewise well chose, and promoted from its own company, they must at least be university graduate and have rich experience. As supervisors, they set good examples to all their subordinates. They are very professional and mainly are old man, so the motivators to them are not money any more; they want esteem, the accepted of others. The employees are almost young and have very little experience, they want training to make them become stronger and also money to give their parents, even support their family. They also need to be treat equity, and need the understanding of managers; they want to feel managers keep an eye on them 2. Motivating customers The Panasonic are also taking some actions to motivate customers. The customers of Panasonic are mainly two kinds: Government purchasing officials and the user community. Why the customers want buy Panasonic products, because the high quality, good service, and the world famous brand, the good grantees. More importantly, Panasonic stands for a commitment to quality, value and innovation. In North America, this commitment is backed up by employees working in research and development centers from California’s Silicon Valley to Video Valley in New Jersey, state-of-the-art manufacturing plants, one of the country’s largest customer call centers in Virginia and sales and service organizations that deal with the public and business-to-business relationships in nearly every state. In all of our dealings, the customer is always first. This was our bedrock philosophy through the 20th century and it will carry us through the 21st century. Panasonic always make customers satisfied. Analysis and Interpretation Motivation helps people attain their goals and objectives easily. All people have motivation in doing anything, whether it is for a good cause, an ambition or a bad thing. Many times people don’t know their motivation in doing what they’re doing because they are simply following some unwritten rule of the society or that of they are simply following the wishes of others. At Panasonic, there are two aspects that motivate employees. How to motivate them? 1. The Panasonic itself as a large world famous corporation. Panasonic has very good organizational culture. At Panasonic, the working condition is pretty good, the salary is tie to the performance, the employees have equal chance to be promoted, and the outstanding persons at Panasonic will have chance to self-actualizations. â€Å"The reason I stay, is not they particularly enjoy the actual work that I do is because of the company. They all know, from experience and through exposure, that there are few companies out there that treat their employees as well as Panasonic. † One employee at Panasonic said. People and the Environment they work in are the reasons why they stay at their organization. Often people will dislike their work or the product, but they will remain at an organization because of the people they work with all week. Great companies create a home for their employees. No one wants to leave a nest where one is cared for and a part of a â€Å"family. † As one employee commented, â€Å"My current job satisfaction is the people! I love everyone I work with. This company has gone out of its way to create the perfect â€Å"culture† of people to work with. † 2. Motivation is about making an employee feel valuable. Provide a valuable salary to your employees for the value they deserve and for the void you would feel if they were to leave. You make efforts to make them feel valued as an employee in your organization and they will most likely feel valuable and appreciated. Run incentive and reward programs. Make the investment to organize and rally the troops around a goal and reward them for their efforts. They want to know they are being invested in as much as they are investing their time and talents in the company. In conclusion, motivation and retention appear really complex, but they are simple. Write the things down that make you feel valued at your company and try to do those same things for your co-workers and employees. You don’t have to be a mind-reader and you don’t have to have a degree in psychology or a heavy pocketbook to make your team members feel valued. It is all about trial-and-error and the fact that you are concentrating on making your work place like a home. At Panasonic, it also takes some actions at motivating customers such as provide the products that customer needs, From humble beginnings with one man producing one product on a table in his apartment, to current status as the world’s largest manufacturer of consumer electronics, Panasonic has strived to develop products and services that meet the needs of all of customers. Panasonic products have had access-friendly features for many years. They strongly believe that everyone should be able to enjoy the benefits of accessible products. To achieve this goal, they endeavor to assure that Panasonic products use all readily achievable means to make them ever more accessible to, and usable by people with disabilities. The popular DVD format is an excellent example of Panasonic’s engineering and marketing prowess. Panasonic developed many of the key technologies that make possible DVD, the format that is now transforming home entertainment and the computer industry. Their engineers took that technology from the laboratory and created high-quality, affordable components for the industry. At the same time, they used their expertise in storage media to make DVD discs a reality. For their DVD efforts, they were awarded a technical Emmy Award by the television industry. While they are proud of that award, it hasn’t stopped the technological advances. Panasonic was first to introduce recordable DVD for the PC and is moving forward with recordable DVD players for video enthusiasts. And this is only the beginning. Good service of guarantees procedures. In-warranty whole unit service is for in-warranty units that require service at the Panasonic repair center. 1. The specialist will make a determination of your warranty status* based on the date of purchase, serial number and problem description. Please refer to the green warranty card provided with your unit. 2. The specialist will provide you with a service authorization number, shipping company account and phone number, and address of the Panasonic repair center. If you need a box to ship the unit, we will send one to you. Make sure you backup your hard drive before sending your unit in for service. 4. Schedule a pick up of your unit with a shipping service company. Arrangements must be made within 30 days after you receive your service authorization number. 5. On the average, Panasonic’s repair center will troubleshoot and repair your unit within 48 hours of receipt. We will then return your computer via next day air service. All the above things make employees and customers highly motivated. Conclusion Motivation works differently for different people at different situations. According to Maslow hierarchy, our first need is survival, so we concentrate on basic physiological needs, such as food, water, and shelter, until we feel fairly sure that these needs are covered. Next, we concern ourselves with safety needs, which person to the desire to feel safe, secure, and free from threats to our existence. Once we feel reasonably safe and secure, we turn to attention to relationships with others in order to fulfill our belongingness needs, which involve the desire to affiliate with and be accepted by other. ow at Panasonic, employees mainly at this level, every few supervisors such as CEO, at the fourth level, even fifth level, the highest level of hierarchy, money is not their motivation any more. Because they already have a lot of money, they need excellent working conditions, others respect etc. But, the employees at lowest level of Panasonic, the main motivation to them is money, because they need support their family, they need satisfy their own needs of survival and safety. But when their needs are satisfied, then they will go to higher level of hierarchy.

Mr. Smith Goes to Washington

Politics can be corrupt and extremely ugly. In Mr. Smith goes to Washington, Jefferson Smith is appointed as a new member of the senate. Jefferson Smith was too idealistic and naive to be a senator in American government during this time of corruption. Mr. Smith was too naive to survive as a senator during the time the movie â€Å"Mr. Smith Goes to Washington† took place. Mr. Smith’s naivete was seen in his proposal to start a national boys camp.After this proposal during the senate, false allegations towards Smith’s motives surfaced, and he was too idealistic to defend himself against the political machine that was accusing him of self-interest. Making matters worse, Senator Smith was a genuinely honest and simple-minded man, making it difficult for him to survive with his corrupt colleagues. Mr. Smith clearly showed his lack of government and knowledge of it. Jefferson Smith was a senator and did not even know how a bill becomes a law.Smith was like a fish out of water in the senate and needed a lot of help from his assistant Saunders. Senator Smith was not well educated and clearly not the right man for the job. But some might say that he was a weak hero in manners. Jefferson had potential in the government because of his integrity, care, and honesty. These are qualities that most senators were lacking and still are. Jefferson Smith was too idealistic and naive to be successful as a senator going up against a huge political machine. Smith lacks savvy and smoothness but overcomes his trials with persistence and dedication.

Technology And The 20th Century - 1607 Words

During this process of writing essays on technology, found some great articles that provide a wide range of different applications to technology. Many industries have utilized technology over the years and now as we are in the 20th century we can see value. The YouTube video provides how communication was successfully face-to-face during the NeXT meeting their interacting with effective leadership providing them with structure. The Video from YouTube was over two decades ago, which lead me to explore how the time has changed us. Technology and communication play a big role in society and how we interact, develop, produce and learn in the 20th century. During my process of searching for an article worthy of my interest, realized that most of the articles I was looking for were based on what I already had an idea about. For the first time in a long time I felt that what I want to write about should be something that I would like to find out about. This was developed by looking at our current state of technology and communication in the 20th century. My first quest to build some understanding was through searching Google. I wanted to find a concept of what other people have discovered about technology, and why it is a fabric of everyday life. I must have spent three and half-hours searching for a topic to explore, but I found nothing. Something dawned on me, maybe if I start focusing on how I play a key role in my day to day life maybe I can find some inspiration their. UponShow MoreRelatedTechnology During The 20th Century1146 Words   |  5 PagesHanshew 19 June 2015 Research Paper Technology in the early 20th century grew quickly and brought many changes to life both at home and in work. Automobiles, home appliances, and entertainment changed how Americans spent their time and money. 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