|Name: _________________________||Period: ___________________|
This test consists of 15 multiple choice questions and 5 short answer questions.
Multiple Choice Questions
1. At the age of ___________ Carnegie finds a wife for his home, a business successor and considers retirement.
2. He installs a blast furnace called________ in 1872 to produce 13.361 tons initially and eventually over 100,000 tons annually by maximizing output.
3. Carnegie's insistence on knowing the costs continues for his _______________ years in the steel business.
4. Historically, management of the Carnegie companies resulted in _____ labor difficulties before the Homestead strike.
(a) Quite a few.
(c) Hundreds of.
5. Carnegie tries to use public relations, legislative action and threatens who to drive shipping costs down?
(a) John D. Rockefeller.
(b) The unions.
(c) A competitor in the steel industry.
(d) A competitor railroad.
6. What problems does this steel company have?
(a) Supply and labor problems.
(b) Labor and capital problems.
(c) Financial and policy problems.
(d) Management and organization problems.
7. The process takes longer than expected, but by 1868 production begins, and expansion is planned in what year?
8. Tom Miller is a _________ man who forms joint ventures with Carnegie in several small investments. They form Freedom Iron Company of Lewiston Pennsylvania in 1861 that Carnegie restructures into Freedom Iron and Steel to retool for the Bessemer process in 1866.
9. Frick shares Carnegie's vision and drive but is self-righteous and lacks what?
(a) A sense of humor.
10. Carnegie leases the iron ore properties from this man. Why?
(a) To retire slowly from the industry.
(b) To make him a partner.
(c) To keep him out of the steel business.
(d) To keep him happy.
11. This approach introduces ______________ into pricing and a methodology for investment planning.
12. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.
(a) At the Ohio River.
(b) At the Allegheny.
(c) At the Potomac.
(d) At the Monongahela.
13. The partners want Frick to exercise power without Carnegie. Why?
(a) He has good ideas for growth in the company.
(b) He is easier to manipulate than Carnegie.
(c) He is more trustworthy than Carnegie.
(d) He is more likely to keep wage costs down.
14. He follows a policy of putting all his eggs in the same basket and doing what?
(a) Worrying about it.
(b) Ignoring it.
(c) Watching it.
(d) Forgetting about it.
15. Specialized merchants control flow of product at every step, which _____________________.
(a) Increases costs and increases materials flow.
(b) Increases costs and slows materials flow.
(c) Slows costs and slows materials flow.
(d) Slows costs and increases materials flow.
Short Answer Questions
1. Productive staff is rewarded and non-productive staff is ___________.
2. When prosperity returns, the Carnegie business thrives. Does the damage to his personal reputation from the strike ever heal?
3. Carnegie pressures management and Frick resigns again. Is his resignation accepted?
4. Cost information enables cost-cutting per unit by __________________________ at the same output level.
5. Small firms operate iron furnaces to smelt ore into _______ iron.
This section contains 520 words
(approx. 2 pages at 300 words per page)