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How did the railroad revolutionize business?
Railroads made it able for business owners to transfer between towns. This allowed businesses to get more customers and generate more money.
Why did Lester Maddox speak out against the civil rights act of 1964?
Answer this question… D. He felt that the federal government should not be able to control business policies.
How can you tell the real one or new 1853 Millard Fillmore coin worth?
ALL "golden" Presidential dollars are real and only worth $1. There are hundreds of millions of them - check with any major bank and they should be able to supply you with all you want at $1 each.
What makes Ohio different from other states?
Aviation history, We would not have air travel or flight specials, be able to meet business clients on time or even make it home for the holidays so quickly or for a family emergency without the Wright Bros.
The character of the first English settlements in the New World?
The colonies were business enterprises. The colonies adopted native agricultural techniques. The colonies were able to develop their own political and social institutions. The colonies promoted freedom of religion.
What are the 4 major business practice of Andrew carnegie?
Ah, Andrew Carnegie was a remarkable individual known for his business practices. He believed in four major principles: work hard, invest wisely, innovate constantly, and give back to the community. By following these principles, he was able to build a successful business empire while also making a positive impact on society.
Why did Carnegie leave the railroad business?
Andrew Carnegie left the railroad business primarily to focus on the steel industry, which he viewed as having greater growth potential and profitability. By selling his stake in the Pennsylvania Railroad in the late 1800s, he was able to invest more heavily in steel production, capitalizing on the booming demand for infrastructure and construction. This strategic shift ultimately led to the establishment of Carnegie Steel Company, which became a dominant force in the industry.
What business contributed most to Andrew Carnegies ability to form a monopoly?
Andrew Carnegie's ability to form a monopoly was primarily driven by his investments in the steel industry, specifically through the establishment of Carnegie Steel Company. By implementing innovative production techniques, such as the Bessemer process, and focusing on vertical integration, Carnegie was able to control every aspect of steel production, from raw materials to transportation. This dominance in the steel market allowed him to eliminate competition and establish a near-monopoly in the industry by the late 19th century.
How did Andrew Carnegie become the leading producer of steel?
Andrew Carnegie had a steel vertical monopoly by obtaining control over every level involved in steel production, from raw materials, transportation and manufacturing to distribution and finance.
What were Andrew Carnegie's opinions about the most important issues facing American society?
Andrew Carnegie felt that the people who had wealth were the ones best able to make decisions that would affect everybody else. He thought that it was the responsibility of the wealthy to control and guide those less fortunate, who obviously were not as capable as the rich because they were not as successful.
What skills did Andrew Carnegie have?
Andrew Carnegie possessed several key skills that contributed to his success as a businessman and philanthropist. He was an astute strategist, able to identify and capitalize on emerging market opportunities, particularly in the steel industry. His strong leadership and management abilities allowed him to build and motivate large teams, while his visionary approach facilitated innovation in production techniques. Additionally, Carnegie was an effective communicator, which helped him forge important partnerships and advocate for his philanthropic initiatives.
What business practice contributed most to Andrew Carnegies ability to form a monopoly?
Andrew Carnegie's ability to form a monopoly was primarily attributed to his implementation of vertical integration. By controlling every aspect of the steel production process—from raw materials to transportation and distribution—Carnegie was able to reduce costs and improve efficiency. This strategy allowed him to dominate the steel market, undercut competitors, and ultimately establish a powerful monopoly in the industry. Additionally, his focus on innovation and technology further solidified his position as a leader in steel production.
Was Andrew Carnegie a good guy or a bad guy?
This is a hard question to answer, because things are rarely all black or all white. While Andrew Carnegie was a brilliant businessman who made millions in the steel industry, by many accounts, he was also a relentless and driven boss who did not want to give his workers the pay they deserved. But while it would be easy to dismiss him as just another greedy business executive, he also seems to have realized that life should not just be about making millions. When he was in his 60s, he sold his businesses and devoted the rest of his life to charitable work and philanthropy. He funded libraries and museums, he created an institute for the study of peace, and he even founded a university. So, as you can see, at some points in his life, you might be able to make a case for him being a bad guy, yet at other times, he was absolutely what we would consider a good guy.
What was Andrew Carnegie able to create by buying up all aspects of the steel industry?
Andrew Carnegie was able to create a vertically integrated steel empire by acquiring control over all aspects of the steel production process, from raw materials to transportation and manufacturing. This approach allowed him to reduce costs, improve efficiency, and maintain quality control, ultimately making steel more affordable and accessible. Carnegie's strategy not only revolutionized the steel industry but also contributed significantly to the industrialization of the United States. His success established him as one of the wealthiest individuals of his time.
Which steel tycoon used veritical integration to increase profits?
Andrew Carnegie, the steel tycoon, famously employed vertical integration to enhance profits in his steel business. By controlling every aspect of the production process, from raw material extraction to transportation and manufacturing, Carnegie was able to reduce costs and improve efficiency. This strategy not only increased his profit margins but also allowed him to dominate the steel industry in the United States during the late 19th century.
How was Andrew Carnegie able to produce huge amounts of steel at low price?
because he had lots of workers and had to pay them and could not pay for it because he had to pay the workers.
Would Andrew Carnegie have been able to develop oil and steel if the government practiced a very strict regulatory policy?
John D. Rockefeller developed the oil industry, not Carnegie. Andrew Carnegie started the Steel industry. If America had anything like India's License Raj, oil and steel never have been developed. Silicon Valley started in California because Chinese and Russians could not obtain the transistors and other parts required to make the computers. They could not get bureaucratic permission to play around with them. New technology can not develop under stifling bureaucracy.
