WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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horizontal integration
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vertical integration
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scientific management
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time-study analysis
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Detailed explanation-1: -Rockefeller often bought other oil companies to eliminate competition. This is a process known as horizontal integration.
Detailed explanation-2: -In addition, Carnegie Steel bought up its sources of raw materials and shipping (in a strategy called vertical integration) and bought out and absorbed its competitors (horizontal integration) to dominate the steel industry. By the 1890s, it was the largest and most profitable steel company in the world.
Detailed explanation-3: -Explanation of Horizontal Integration Horizontal Integration was made famous by John D. Rockefeller’s Standard Oil company.
Detailed explanation-4: -Horizontal integration is the business practice in the 19th century that is known as “monopolizing.” In this practice, a business completely operates one part of industry. The 19th century prime example of this is John D. Rockefeller’s oil industry.