Used vertical integration to control all means of steel production from raw materials to sales.

History

1 answer:

Lerok [7]3 years ago

3 0

Andrew Carnegie was the one who used vertical integration to control steel production.

Vertical integration involves:

Owning all the companies in the supply chain of a good including the producers to the retailers
Being able to reduce production costs as a single company owns the various stages of production

Andre Carnegie founded Carnegie Steel which he used to acquire the suppliers of steel all the way to the sellers.

This allowed him to control the steel industry as he could overcharge competitors for steel whilst maintaining lower prices for his company.

In conclusion, Andrew Carnegie was able to us vertical integration to control the steel industry in a monopolistic like manner.

Find out more at brainly.com/question/1403856.

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