Chapter 14 Section 3: critical thinking 3

Chapter 14 section 3: critical thinking 3

Do you think that the tycoons of the late 19th century are best described as Ruthless Robber Barons, or as Effective Captains of industry?

Their management tactics and business strategies
Their contributions to the economy
Their attitude toward competition

Even thought the 19th century tycoons were ruthless, they were more effective in spreading their industry and improving an industrial United States. These tycoon leaders had an excellent way of spreading their industry. These men used strategies such as vertical and horizontal integration. This was when one company owns all components and competition of one certain kind of production, transportation, or manufacture. An example of this is like owning all oil wells and buying out new ones being opened. This way, everyone will have to use your company no matter what. Another strategy of the business corporate was vertical integration. This is when you own one part of each different industry, this way; you can ship with all your own components and not have to lose money on manufacturing of shipping.
The corporate tycoons had their own contributions to the economy. With their shipping industry, these companies could make a product widespread and inexpensive in the United States. Another thing that these corporate tycoons did was that they improved the trade of the United States. Also, they gave more people jobs. With new factories and industrialization, these companies needed more workers for these companies and these factories to fully function.
These Tycoons had little mercy towards competitors. These men bought out whatever competition they thought as a threat.