A captain of industry can be defined as ¨a business leader whose means of amassing a personal fortune contributed positively to the country in some way.” Andrew Carnegie was an ideal representation of a captain of industry, he was born poor, yet he rose the ranks and became a successful businessman who dedicated his fortune to good causes. Due to his success and innovation in the steel industry and his benevolent donations, Andrew Carnegie was a prosperous businessman who benefited lives across America.
Andrew Carnegie furthered the steel industry and brought forward new innovations that advanced technology and market shares for generations. Not only did Carnegie develop technologies, he helped forge new business models. The concept of vertical integration received an immense
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Technology wise, Carnegie was a true innovator. In a photo taken in 1899 of a Carnegie plant, one can see utilization of the Bessemer process. The Bessemer process is a cheap and efficient way to manufacture steel by using a furnace to remove impurities from iron by oxidation. Carnegie was one of the first US tycoons to invest in the process and by 1899, Carnegie had manufactured more steel than all the factories in Great Britain. With this fast production, Carnegie was able to ship more steel for bridges, railroads and other steel uses. (Document C). Andrew Carnegie was such a name in the steel industry, by the 20th century he had an immense impact on the steel industry. As his company grew, his overall steel output grew. Between the years of 1892 and 1900, Carnegie