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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Buying out raw materials producers, manufacturing and transportation
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Merging with companies producing similar products
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Corruption
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Government Intervention
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Detailed explanation-1: -Vertical integration helped the Carnegie steel business by purchasing all the components that went into making steel: buying the mines that produced the raw materials, the railroads that shipped them, the electricity providers for the factories, etc.
Detailed explanation-2: -Vertical integration meant that Carnegie controlled every the aspect of the making of steel from beginning to end. Carnegie undersold all of the competition. Carnegie’s business plan gave him 100% control of the steel industry.
Detailed explanation-3: -Vertical integration is a corporate strategy that involves growth through streamlining operations. This occurs when one company acquires a producer, vendor, supplier, distributor, or other related company within the same industry.
Detailed explanation-4: -Vertical Integration was a process in which Andrew Carnegie bought out his suppliers such as, coal fields, , iron mines, ore freighters and railroad lines. b. How did it help businesses such as the Carnegie Company and tycoons like Andrew Carnegie? He did this to control the raw materials and transportation systems.