Andrew Carnegie and the Rise of Big Business Test | Mid-Book Test - Hard

Harold C. Livesay
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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. Andrew's opportunity to escape the coal and oil of textile mills comes through _________ asking him to become a messenger boy with a telegraph company in Pittsburgh.

2. Carnegie's career begins on July 15, 1848, when he and his family, parents Will, Margaret and his brother Tom, do what?

3. Relying on the telegraph lets dispatchers control what, with current information and disciplined workers?

4. Carnegie presents the bonds to the Morgan investment banking house in London in March, 1869, where he sells them to Morgan at what percent?

5. Why does Pullman gives Carnegie enough Pennsylvania stock to collateralize a $600,000 loan?

Short Essay Questions

1. What does Carnegie learn at the Pennsylvania Railroad?

2. What happens on July 15, 1848?

3. By what is this dream not diminished?

4. What happens within two years of arriving in America?

5. What does Carnegie do when Pacific dividend payments stop?

6. How does industry benefit from Carnegie?

7. How does Andrew escape the textile mills?

8. Describe Carnegie's investment in Keystone Bridge Company.

9. What are the jobs of the railroad managers?

10. Who are Roberto Goizuetta and Any Grove?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Frick shares Carnegie's vision and drive but lacks a sense of humor and is self-righteous.

Part 1) Describe Henry Frick. What is the relationship between Frick and Carnegie? How does this relationship develop? How are both men affected by this relationship?

Part 2) What are the benefits and detriments of Frick to the Carnegie Company? In the end, do you believe Frick was a benefit or a detriment to Carnegie? Why?

Part 3) How does Frick allow his power to go to his head? How does this affect the decisions he makes about the Carnegie Company? Describe someone you know who has allowed power to adversely affect him or her. How can this be avoided? What is required in one's personality to avoid this egotism?

Essay Topic 2

Carnegie forms an informal investing triumvirate.

Part 1) Describe this triumvirate. Why does he form this group? How effective are they? How do they benefit Carnegie? How doe they benefit from him?

Part 2) Throughout the book, what role does this triumvirate play? How does it aid Andrew in growing his wealth? How is it, at times, detrimental?

Part 3) If you were to form a triumvirate, who would it include? Why? What would be the purpose of the triumvirate?

Essay Topic 3

Carnegie corrects deficiencies at Cyclops, now Union Iron.

Part 1) What deficiencies exist at Cyclops? How does Carnegie correct these deficiencies? How important is his past experience when correcting these deficiencies? What do these corrections reveal or reinforce about Carnegie?

Part 2) How does this introduce rationality into pricing and a methodology for investment planning? Why is this important? How do Carnegie and his partners benefit from this?

Part 3) What can we as readers learn from Carnegie's actions surrounding his purchase of Cyclops, its initial merger with Union Iron and the final merger with Keystone Bridge Company?

(see the answer keys)

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