Andrew Carnegie - Richest Men in America

Name: Linh Khuat

Class: Business and Social Responsibility

Professor: Pete Macky

                                        Andrew Carnegie

        Andrew Carnegie was arguably one of the richest men in America. From his companies emerged the steel to build the infrastructures such as railroads, bridges, automobiles, and ships that would build a nation in need of direction. He played a major role in the transformation into the Industrial Revolution, producing the steels to make machinery and transportation possible. Carnegie built his empire from cost control, low prices, low profits, and high volume to make himself the richest man in the world. Some people call him a villain, some people call him a hero? So, was Carnegie really a business hero in American history?

Andrew Carnegie was born in a very poor family from Scotland. His first job was at the age of thirteen; he was working as a bobbin boy in a cotton mill. It was his second job in which he was able to learn many important structures of business. Working most of the day, he never had time to go to school like other kids. Therefore, he went to the library to study whenever he has time. He later was hired by Thomas A.Scott to work as a private secretary and a personal telegrapher. When the Civil War came, he was the right hand man of Scott, who was the supervisor of military transportation for the North back then. Working as Scott’s right hand man, Carnegie was able to gain experience in the railroad industry. After the Civil War, Carnegie took Scott’s former position as superintendent of the western division to the Pennsylvania Railroad. Andrew Carnegie formed his wealth by the production of iron and steel, and some of which was used in the making of railroads. At the time, railroads were the most demanded means of transportation. People travel to many places using the railroads. Carnegie saw this opportunity coming, and he saw that it would be good to mass produce steel since you need steel to make railroads. Andrew Carnegie developed most of his wealth by profiting off of this. Unlike other companies in the business back then, Carnegie came up with a genius idea which was to always improve his factories and his equipment. Other companies would wait till the machine is broken to replace or maintain them, but Carnegie would use all his profit to upgrade and improve his machinery. Along with this genius idea, Carnegie and his company invented many important processes to produce steel that helped to reduce costs and increase outputs. He later set a standard for the steel industry and force all the companies to adopt his methods for the better of the American economy.