1 / 10

Fun With Big Business

Fun With Big Business. Carnegie, Rockefeller, and Success. Railroads. " Gentlemen: you have undertaken to cheat me. I won't sue you, for the law is too slow. I'll ruin you. Yours truly, Cornelius Vanderbilt. ". America’s First Big Business

palani
Download Presentation

Fun With Big Business

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Fun With Big Business Carnegie, Rockefeller, and Success

  2. Railroads "Gentlemen: you have undertaken to cheat me. I won't sue you, for the law is too slow. I'll ruin you. Yours truly, Cornelius Vanderbilt." America’s First Big Business Railroads combine and corporations are formed (helped by the government) Cornelius Vanderbilt dominated the industry and became extremely wealth (2nd in history)

  3. How to Build a Corporation How would you vertically or horizontally integrate your lemonade business? Vertical Integration- own all means of production from the top down (you cut out the middle man and cut costs) Horizontal Integration- take control of all the companies that make the same product

  4. Andrew Carnegie Doesn’t he look like the guy from Jurassic Park?

  5. Andrew Carnegie Scottish immigrant who achieved the “rags to riches” dream (the best example of this) Built steel mill in 1870 and focused on cutting costs and keeping prices low Practiced vertical and horizontal integration Carnegie Steel becomes the World’s largest corporation Sold company to J.P. Morgan for $450 million

  6. Is Carnegie a Robber Baron? Yes, he is a bad guy No, he is a great guy • He cut costs and workers salaries • Violently and ruthlessly ended the homestead strike • Helped keep workers in state of pauperism • Created unsafe and difficult conditions for his workers • He created thousands of jobs with his industry • He helped create products and technological developments that benefitted society • He was a great philanthropist and donated over $300 million to charity Henry Clay Frick

  7. John D. Rockefeller I’m thinking of growing a moustache like this…

  8. J.D. Rockefeller Founded Standard Oil Company in 1870 Scrutinized every aspect of production to cut costs Advertized heavily and was a master of marketing First Horizontal, then Vertical Consolidation > Competition

  9. Richest People Ever http://www.nytimes.com/ref/business/20070715_GILDED_GRAPHIC.html# http://www.neatorama.com/2008/07/09/10-richest-people-of-all-time-and-how-they-made-their-fortunes/

  10. Types of Monopolies Pools- informal agreements to set rates, prices, and business Trusts- stockholders transfer control to a board of trustees Holding companies- One major corporation would buy the stock and exert direct control Example: Standard Oil in New Jersey

More Related