0
For one he utilized the art of vertical integration. This entailed total him governing all aspects of his business. From the mining of pig iron and other materials, to their refinement, and finally to the sales of his product. This way he would receive maximum profits.
He also stressed efficiency, competition amongst workers, and a cheap product. He promote competitiveness among top employees, rewarding winners and firing failures. This is how he maintained employing the best of the beset. He was able to cut the cost of steal from 58 dollars a ton 25 which is why EVERYONE bought from him. It was his skill in mass production that made him so successful.
To be honest I stumbled across this question because I'm writing a paper on the same thing. Hope this helps, know there is more behind it though. My professor is asking a more fundamental question. What characteristic traits did he acquire from his parents and others that helped him to accomplish all of this. Tough information to come across easily on the internet
Good luck my friend
-M
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What was Andrew Carnegie's monopoly?
Andrew Carnegie's Monopoly is the extreme case in capitalism.
What did Andrew Carnegie use to create a monopoly?
toothpaste
What were Andrew Carnegie's views on capitalism?
Andrew Carnegie was a very strong advocate of capitalism. He believed in the power of the individual to create his own destiny through hard work. He did not believe in the redistribution of wealth, nor did he believe in leaving too much to his children. He felt that if you give too much to your children it will make them dependant on this money and unwilling to work for themselves.
Why would a rich man like Andrew Carnegie support the estate tax?
Because his wealth was self-made and he believed that people should have to work to be wealthy and not just be born into it. He also was a philanthropist and believed that wealthy people should give their money away rather than create a dynasty.
What do you need to create a business plan?
I am 22 year old man from Alappuzha ,Kerala.I was interested in business. I wanted to start a new business. so, i want to create new ideas or business plan
What was Andrew Carnegie's monopoly?
Andrew Carnegie's Monopoly is the extreme case in capitalism.
What did Andrew Carnegie use to create a monopoly?
toothpaste
Andrew Carnegie's gospel of wealth?
Andrew Carnegie's gospel of wealth was the belief that wealthy individuals have a responsibility to use their fortunes to benefit society. He argued that it is the duty of the rich to donate their wealth to philanthropic causes to help address social issues and support communities. Carnegie believed that philanthropy could help create a more harmonious society by redistributing wealth in a productive and beneficial way.
Use enterprising in a sentence?
To be successful in a business you have to be enterprising and be able to create new ideas.
What were Andrew Carnegie's views on capitalism?
Andrew Carnegie was a very strong advocate of capitalism. He believed in the power of the individual to create his own destiny through hard work. He did not believe in the redistribution of wealth, nor did he believe in leaving too much to his children. He felt that if you give too much to your children it will make them dependant on this money and unwilling to work for themselves.
Why is a business idea important?
According to me, business idea is considered to be very important. Without a business idea, one cannot start a business. If you want to run a successful business it is necessary to have a business idea.
How can one set up a successful home business?
To setup a successful home business, you first must have a plan and idea of what you want the business to be. You will also need to have all of the tools needed for a job like a phone, computer, etc. Once your business is setup, create a website and network to promote your business.
What is the significance of the gospel of wealth?
it helped snoop doggy dog to create his most magnificent album to which was inspired from the gospel's teaching. from the excerpt of Slaveius chapter 15 verse 2, And Andrew Carnegie said, "yo let there be biches and hoes for all, and for all should be given cause we rich as hell, and as the words of promince fluttered out through our prophet's mouth it came to be true"
Where can I find a template for business cards?
Template for business cards can be found at many places. Avery is one of the most successful and well-known business card company. Vista print and Microsoft office can also be used to create template for business cards.
Business Proposals With Purpose?
Some of the most successful companies today started with one business proposal. Business meetings are a great opportunity to submit business proposals and can include anything from logos to slogans. The purpose of business proposals is to throw out a new concept that will create positive change for the company.
Do you have to take a college classes to open or run a business?
No Education does improve chances of being successful but is not required. You must first create a legal business entity (a corp or llc). The process for creation varies with location.
Who can tell me how to make great business ideas?
A great business idea combines your skills with imagination and market demand. A business opportunity or idea often comes from everyday problems that someone solves. Successful businesses find a need and fill it by providing a service or product. Entrepreneurs who look at ways to make an existing product or service better can be as successful as those who create or invent products.
