rocke Essay -- essays research papers

Andrew Carnegie and the Rise of Big Business   Ã‚  Ã‚  Ã‚  Ã‚  Andrew Carnegie was the pioneering tycoon of the 19th century. From his companies emerged the steel to build the infrastructures such as railroads, bridges, automobiles, and ships that would build a nation in need of direction. He was a major player in the transformation into the Industrial Revolution producing the steel to make machinery and transportation possible. Carnegie built his empire from cost control, low prices, low profits, and high volume to make himself the richest man in the world. In his philanthropic stage of life, he became the world's beneficiary to education, as he is responsible for the construction and donation of thousands of libraries in the U.S., Europe and around the world. Andrew Carnegie is remembered for many accomplishments that include his rise from rags to riches and his influences on the railroad, stock market, and iron and steel industries.   Ã‚  Ã‚  Ã‚  Ã‚  Early Years: Andrew Carnegie was born into a very poor family from Dunfermline, Scotland. He moved to the United States with his family in 1848. Carnegie received his first job when he was 13 as a bobbin boy in a cotton mill at a mere $1.20 weekly wage. Carnegie’s big break came in 1849, when he was hired at the O’Reilly Telegraph Company. With this job, Carnegie was able to learn many of the important structures of business, which gave him important knowledge of commercial affairs and the new economy. Carnegies second big break arose when Thomas Scott hired him to be the personal telegrapher and secretary. Carnegie gained hands on experience in the railroad when a derailment almost caused heavy stoppage. Carnegie was able to get the railroad moving again which gave him his first chance to be a leader. In 1859, Andrew Carnegie was appointed Superintendent of the Pittsburgh Division at the age of 24. Carnegie was so good at his job that he was able to perfect the system of statistica l control even further and introduce new management innovations. From working with the railroad, great qualities were emerging that were to mark his later career. These qualities included, a hard work ethic, ability to master the details of a business very quickly, and act daring and forceful. New Investment Ventures: In 1856, Andrew Carnegie was persuaded to buy some stock. He was loaned the money and b... .... This turned into a bad call because of the deaths and injuries made by Frick’s view to bring in strikebreakers. If Carnegie would have gone with his normal action of closing down the plants until a new agreement could be made, Homestead never would have taken place. Carnegie wouldn’t have had to regret this decision the rest of his life and the press wouldn’t have criticized him the rest of his life. In conclusion, Andrew Carnegie is one of the greatest entrepreneurs that have ever lived. He was a Schumpeteran entrepreneur that changed the stream of the allocation of resources over time by introducing new departures into the flow of economic life by creating the modern iron and steel industry. He set a standard that no other industrialists could match. He made million after a million, learning and preparing to make even more money. He loved to make money but was unlike John D. Rockefeller or Cornelius Vanderbilt. Carnegie believed in making the most of his money, so he gave millions of dollars to different institutions and built many structures for people to learn. Andrew Carnegie will always be remembered as long as time passes as a philanthropist, businessman, and a great man.