Andrew Carnegie Captain of Industry
A captain of industry is defined as a business leader that benefits the nation in a positive way. This includes increasing the availability of goods, creating more and new jobs, and donating money to benefit the well being of the people. Andrew Carnegie was born in Dunfermline, Scotland in 1835. His father, Will, was a failing weaver. Leaving Scotland poor, his mother wanted to return in a carriage as a wealthy well-respected woman of importance. This drove Andrew to become successful by amassing wealth in the steel industry. He came from a poor family and had little formal education. When the Carnegies immigrated to America in 1848, Andrew was determined to bring prosperity to his family. He worked many small jobs, which included working for the Pennsylvania Railroad where he first recognized the importance of steel. With this recognition, he resigned and started the Keystone Bridge Company in 1865. He built a steel-rail mill, and bought out a small steel company. By 1888, he had a large plant, which provided many jobs in the United States. His steel company grew until it made him the wealthiest man in the world. His wealth was abundant and he believed that "one who dies rich...dies disgraced," because of this he donate
Andrew Carnegie's management of his company showed he was a captain of industry. His treatment of workers was completely different from all other businesses at that time. His workers got higher salaries and shorter shifts. Carnegie used a sliding scale for wages. The pay of the workers would increase if profits went up, and the pay would decrease if profits went down. This was motivation for workers to work harder if they wanted higher wages. Here Carnegie shows that he is a captain of industry by offering many jobs, of which benefit the people economically, also by rewarding people for more productivity products are then more available. Carnegie had an impressive way of dealing with workers who went on a strike. He didn't hire new workers, but instead shut the business down completely and made the strikers eventually give in and agree to his terms. Carnegie had enough money to shut down his business if he wished to do so. This showed he was good at running this industry and, again was a Captain of industry. Carnegie's goals were to have an efficient way of tracking money, i.e. if someone owed him a penny he wanted it, if he owed a penny he wanted the other person to have it, and once he found the cost to make a product he wanted to find ways to make more products for the same amount of money. Carnegie always wanted to cut the costs of his products. His motto was "Watch the costs, and the profits will take care of themselves." The production of cheap steel and iron greatly increased the productivity of railroads and many other industries. Once he got his profits back, Carnegie immediately put them back into business. Carnegie also used vertical integration to keep his company strong. All aspects of production, from getting raw materials to shipping finished products, were controlled by
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Approximate Word count = 1220
Approximate Pages = 5 (250 words per page double spaced)
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