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Corporate Development During the Industrial RevolutionThe Standard Oil Company founded byJohn D Rockefeller and the US Steel Companyfounded by Andrew Carnegie The Standard OilCompany and US Steel Company were madesuccessful in different ways due to the actionsof their different owners The companies differedin their labor relations market control andstructural organization In the steel industry Carnegie developed a systemknown as vertical integration This means thathe cut out the middle man Carnegie bought hisown iron and coal mines because using independentcompanies cost too much and were inefficient By doing this he was able to undersell hiscompetetors because they had to pay the competitorsthey went through to get the raw materials UnlikeAndrew Carnegie John D Rockefeller integratedhis oil business from top to bottom hisdistinctive innovation in movement of Americanindustry was horizontal This meant he followedone product through all its stages For examplerockrfeller controlled the oil when it was drilled through the refining stageand he maintained control over the refining processturning it into gasoline Althoughthese two powerful men used two different methodsof management their businesses were still verysuccessful Conlin 425-426 Tycoons like Andrew Carnegie the steel kingand John D Rockefeller the oil baron exercisedtheir genius in devising ways to circumentcompetition Although Carnegie inclined to betough-fisted in business he was not a monopolist anddisliked monopolistic trusts John DRockefeller came to dominate the oil industry Withone upward stride after another he organizedthe Standard Oil Company which was the nucleusof the great trust that was formed Rockefeller showed little mercyHe believed primitive savagery prevailed inthe jungle world of business where onlythe fittest survived He persued the policyof ruin or rule Rockefellers oil monopolydid turn out a superior product at arelatively cheap price Rockefeller belived in ruthlessbusiness Carnegie didnt yet they both hadthe most successful companies in their industries The American Pageant pages 515-518Rockefeller treated his customersin the same manner that Andrew Carnegietreated his workers cruel and harsh TheStandard Oil Company desperately wanted everypossible company to buy their products StandardOil used ruthless
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