What type of businesses practice did Andrew Carnegie Pioneer with the Carnegie steel corporation?

1 answer:

6 0

Carnegie created a monopoly and he did this by investing in new technology which helped him grow his steel corporation. He went to other factories took their ideas and incorporated them into his. He also bout other companies that would help his own companies. In growing his monopoly he used vertical integration, he combined all of his companies into one large one which he named Carnegie Steel. He had the raw materials, his own manufacturing sites and steel mills and a way to transport his product. This is vertical integration, get the materials, make the steel, and ship it.

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