The task of this article is to investigate the electrical business strategies of the Ganz Works in the era of the second industrial revolution.
The Ganz Works established the electrical department in 1878. The main strategies of the Works were adoption of the alternating current technology by employing the talented young engineers, tie-up with the banks and foreign capitals that had been gradually strengthened through the business expansion, and reinforcement of the enterprise capability through the affiliation of the enterprise customers such as power plants and electric railways that had been realized by raising the outside funds.
The Ganz Works had exhibited and demonstrated its own products in the international exhibitions, and also had collected the up-to-date technological knowledge there. They always tried to introduce and develop the new technology. As a result, the Works became one of the pioneers in the development of generator, transformer, motor, electric locomotive and others.
The Ganz Works raised funds from various sources, such as several banks in the Dual Monarchy including the Hungarian general Credit-Bank, the German Loewe Concern and so on.
The Ganz Works had depended on the foreign markets from the beginning because of the narrowness of the Hungarian domestic market. The Works had expanded its business into Austria and Italy, as for they seemed to have aimed at cutting the administration costs by investing in the countries that were close to their own country from the geographical and the political points of view.
Though the electrical industry had achieved the dynamic development in the late 19th century, there were few enterprises that had succeeded in making a big spurt. The case of Ganz Works can be ranked among the rare successful cases in the world.

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