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When did andrew carnegie use vertical integration
When did andrew carnegie use vertical integration
Role of carnegie in industrialization
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Working as a personal telegrapher he came up with two ideas to help make the railroads more efficient and these two ideas were the most successful ideas. In 1859, he was promoted to Pennsylvania railroad superintendent. In 1861, Carnegie started the freedom iron company. Since the railroads were getting destroyed in war and deteriorating over time the iron business allowed him to bring in a lot of money since he was the biggest iron maker. In 1865, Andrew changed paths and sold the freedom iron company to make the keystone bridge company, this was revolutionary because this is when bridges started being built with iron instead of wood.
Andrew Carnegie was a Scottish industrialist who led the expansion of the steel industry back in the 19th century and is known as one of the richest men. One reason that Andrew Carnegie
1) Andrew Carnegie used vertical integration, controlling every step in the process of manufacturing a product, dominating the market. Vertical integration is when the company owns all means of distribution from beginning to end, this makes supplies more reliable and improved efficiency. It controlled the quality of the product at all stages of production. Horizontal integration was used by John D. Rockefeller and is an act of joining or consolidating with one’s competitors to create a monopoly. In Ohio in 1870 he organized the Standard Oil Company.
He also put a profit sharing plan in place to motivate his workers. Carnegie felt his employees would work harder if they had a stake in the company's profits. This belief led Carnegie to distribute company stock to his employees which would rise and fall in value depending on company performance. To ensure the company would perform better, and that their stocks would produce higher returns, Carnegie's workers had to work harder. Both these practices were revolutionary in the business world at the time they were implemented and couldn't have been implemented without free enterprise, thus making free enterprise essential to Carnegie's
The steel tycoon Andrew Carnegie started out from a humbling beginning as poor immigrate working his way up the corporate ladder (). Until the day came when Andrew Carnegie decided he would strike out on his own, and Carnegie Steel was born. Now, Carnegie new that his steel mills most valuable assets was the workers. Consequently, Carnegie encouraged the workers to participate in collective bargaining for wages (). As a result, the factory workers were able to bargain their way to a truly livable wage.
During this time, Carnegie bought stock and made several other investments, but in 1873 Carnegie sold out his other interests and focused primarily on the steel business. Carnegie later created the Carnegie Steel Business. Carnegie’s success can be credited to hard work, qualified help and his attention to small details. Carnegie was able to benefit from the 1890’s great depression. While some were going bankrupt, Carnegie used his wisdom and was able to obtain more steel production corporations by buying coal and iron mines, warehouses, ships and railroads so that he could gain control of all parts of the steel process.
He was already elderly and had a contempt for the law. He was used to getting his way and the addition of more wealth only made his self important attitude worse. He was universally an unemphatic individual placing the acquisition of wealth far above any other individual. Andrew Carnegie, the steel baron, was a Scottish immigrant who worked his way to the top. He was the master of Vertical Integration, owning all aspects of his industry from mining to selling the product.
Harold C. Livesay writes a great tell-all biography of the life of the great Steel head Andrew Carnegie. In Andrew Carnegie and the Rise of Big Business, Livesay writes about the life of Carnegie and the hardships that he had to endure in his early life and how the hardships molded him into the wealthiest man on the planet in his era. Livesay leaves the reader with a sense of what it takes for any man to achieve anything in this world if they just put their mind to it. Livesay shows all of this by showing us from the beginning when Andrew Carnegie and his family came over to the United States in search of the “American Dream”.
Andrew Carnegie, captain of industry or a robber baron? The answer is surprisingly basic. Carnegie was a captain of industry and this is obvious, between his come up to his passing it creates a clear picture of a man who wanted to advance society. Now I won't discredit the fact that some may see him as a robber baron due to his ruthlessness in the field of business or how he didn't give enough pay to his workers, but if you think about it just a little bit he was a businessman meaning he had to make decisions that at the end of the day benefitted him and his business. I have 3 main points as to why he was a captain of industry.
Andrew Carnegie was born November 1835, in Dunfermline, Scotland. He grew up poor and lived in a small cottage attic with his family. In 1848 the carnegie family made the hard decision to immigrate to the United States. Carnegie was locally famous for decoding messages when he was a telegraph operator. He later worked himself up to being one of the most famous men in business during the late 1800’s.
During the late 1800s, there were some very bad, powerful people. One of them was Andrew Carnegie, captain of the steel industry. Andrew Carnegie was a Scottish immigrant who came to America to seek a better life. He made his money in the steel industry after figuring out a way to manufacture it faster. Andrew Carnegie was a villain because he didn’t care about his workers, preached about world peace and then turned around and gave the U.S. Navy steel, and because his club tampered with a dam, killing thousands.
Andrew Carnegie stated, “There remains, then, only, one mode of using great fortunes; …the duty of the man of wealth (is to) set an example of modest … living…; and … to consider all surplus revenues … as trust funds … to produce the most beneficial results for the community.” (Document 8) Andrew Carnegie believed the wealthy had the responsibility to support and give back to the community, while he could not do the same for his workers. He thrived off this belief for others, donating to other causes, but his workers that were still suffering revealed Carnegie’s careless attributes. In the Rise of Big Business, it reads, “Carnegie’s watch on costs never let up in his first twenty-five years in the steel business. He grew more fanatical as years passed and competition stiffened.”
Andrew Carnegie was one of the most famous and wealthiest American industrialist during the Industrial Age. He was a robber baron who made a fortune in the steel industry and applied vertical integration to his business. Carnegie contradicted his views as a robber baron because he supported, but destroyed many unions. This made many of his views unethical.
Carnegie was considered a Robber Baron for many reasons. For example, he gained huge profits because of his workers low wages. In the excerpt, “Who was Andrew Carnegie,” the author said, “his steel workers were often pushed to long hours and low wages.” Workers worked in harsh conditions and received no benefits causing them to live in poverty with scarce food, clothing, and shelter. Workers were tired of the low wages and decided to go on strike.
Is it worth coming back to those you love? Yes it is, and whom do you think of when you hear the word “hero”. When I hear the word hero I think of my papa. For instance, my papa and Odysseus have a lot of things in common. For example, being competitive, knowing it’s not all about strength, and realizing that even if you're enjoying your time away from your original life, it’s always important to come back.
