WORLD HISTORY

Detailed explanation-1: -Answer and Explanation: Entrepreneurs who rose to prominence during the Industrial Revolution included John D. Rockefeller (Standard Oil), Cornelius Vanderbilt (railroads), Andrew Carnegie (the steel industry), and J.P. Morgan (banking/finance), among others.

Detailed explanation-2: -The Industrial Revolution began in Great Britain, and many of the technological and architectural innovations were of British origin. By the mid-18th century, Britain was the world’s leading commercial nation, controlling a global trading empire with colonies in North America and the Caribbean.

Detailed explanation-3: -Industrial entrepreneur is essentially a manufacturer, who identifies the potential needs of customers and tailors a product or service to meet the marketing needs. He is a product-oriented man who starts in an industrial unit because of the possibility of making some new product.

Detailed explanation-4: -According to Schumpeter, an entrepreneur is willing and able to convert a new idea or invention into a successful innovation.

Detailed explanation-5: -Entrepreneurs became the driving force behind the innovation that launched the first industrial revolution and those after. Their inventions ushered in the industrial age, often allowing companies to scale their production and become exponentially more efficient.