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Chapter 6 Section 3 part 1
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A Andrew carnegie
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One of the first industrial moguls/rags to riches model
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Terms in this set (24)
A Andrew carnegie
One of the first industrial moguls/rags to riches model
1) continually searched for ways to make better products more cheaply
2) he attracted talented people by offering them stock in the company
What were management practices of carnegies
Vertical intergration
Process in which Carnegie bought out his suppliers -- coal fields and iron mines, ore freighters, and railroad lines-- in order to control the raw materials and transportation systems
Horizontal Integration
Companies that make similar products merge
Social Darwinism
The philosophy called __________ grew out of the English naturalist Charles Darwin's theory of biological evolution