Cornelius Vanderbilt's Role In The Steamship Industry

Cornelius Vanderbilt was a key role in the production of Steamships in the early 1800s. The technological advancement of water crafts was steadily being improved upon and Vanderbilt found his motivation to implement his ideas in the steamship industry. He knew as he begun his work, he wished to be a Market Entrepreneur which is describes as being, “Those who tried to succeed in steam boating primarily by creating and marketing a superior product at a low cost” (Folsom, 2010, p. 1). For better terms, a Market Entrepreneur sought to work for the good of the people allowing their innovation to benefit the people so that costs would be low and also give availability of Entrepreneur’s product. In this case, Vanderbilt wished to make steamboats

Rockefeller had an admiration for his integrity as a businessman and had a strong calling to his faith. His mother was a key role in his growth in faith and his father had taught him the importance of saving money. His values had always been grounded in tending to those who are less fortunate and quickly gain his respects to the business of producing oil. He had always had a fascination with oil and one of the members of his church, Samuel Andrews, who was an investor in oil. Both Andrews and Rockefeller joined together to make the business which would be called the Standard Oil Company. Rockefeller states that, “We must ever remember we are refining oil for the poor man and he must have it cheap and good” (Folsom, 2010, p. 83). In the market for oil, prices were not consistent, and Rockefeller was determined to remove any unnecessary aspects and use oil efficiently to mass produce and provide at the lowest cost. The work it took Rockefeller to offer the availability of oil allowed his market entrepreneurial persona to succeed within the process of creating a remarkable product that created the wealth of the oil

As a market entrepreneur, it takes a foundation of fundamentals that innovates the available resources into industrializing society. Political entrepreneurs use more of what the government can subside into creating the production of advancing technologies such as steel, oil, steamboats, and railroads. The real “Robber Barons” fell under the impression of the political entrepreneur as they were more towards their gains through the government than actually made improvements to the products that were made to create a booming industry. Their work in society reflected the determination to further advance the industries and make them prosper as whole and offer more opportunities for other people to utilize the expansion of