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. Carnegie uses a similar strategy to exit the Woodruff Company by reorganizing it into ________________ with new stockholders and the triumvirate unstated.

2. From 1867 through 1872, Andrew Carnegie joins the expansion trend by manipulating what stock to promote $30 million in stocks and bonds in Europe?

3. Within _______ years of arriving in America, the Carnegies recoup their fortune through the help of their friends, relatives, and countrymen in America and earn more income that they ever received in Scotland.

4. Who is Cuban Roberto Goizuetta?

5. Railroad ______________ run the trains, maintain rolling stock and track, price and collect charges for service on passenger and freight trains running in both directions to meet demand.

Short Essay Questions

1. Who is George M. Pullman? How do he and Carnegie become involved in business together?

2. Describe the Columbia Oil Company.

3. What does Carnegie learn at the Pennsylvania Railroad?

4. Describe the informal investing triumvirate Carnegie formed with Thomson and Scott.

5. Give an example of how the size and complexity of a railroad business requires creation of bureaucratic organization, structure, and policy to fit the needs.

6. What does Carnegie do in Europe?

7. The partners pledge an investment to be made in installments paid when due or by the company as credit for dividends payable on the whole investment. Give an example of this pledge in action.

8. What happens on July 15, 1848?

9. How do family members and friends help immigrants? How is Carnegie's family helped?

10. Describe the Pennsylvania Railroad in 1865.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie's insistence on knowing the costs continues for his twenty-five years in the steel business.

Part 1) How and why does cost matter throughout Carnegie's career in the steel business, as well as previous business ventures? How might this compare to the importance of cost to other companies? Use the text to support your response.

Part 2) How has this focus on cost influenced other businesses? How does it continue to be important to businesses today? How does this focus on cost aid in the creation of big business?

Part 3) When you make important decisions, on what do you focus? What aspects of a decision are important to you? How does your decision-making process compare to Carnegie's?

Essay Topic 2

Carnegie leaves Pittsburgh for New York City.

Part 1) Why does he decide to make this move? How is this connected to his decisions surrounding his business? How does he benefit from this move and the people he meets upon arriving in New York?

Part 2) Do you believe Carnegie would have been as successful as he was if he had stayed in Pittsburgh? Why or why not? Why was New York City an important place to be at this time? Is New York City as important today? If so, why? If not, why not?

Part 3) In what are you interested? What is the best place to be for this interest? Would you consider moving to this place? Why or why not? How might your life change by making this move?

Essay Topic 3

Carnegie and George Pullman make "The Pullman Palace Car Company" a joint venture.

Part 1) How does this joint venture come about? Is this a good decision for both men? Why or why not? What does this joint venture reveal about both Carnegie and Pullman?

Part 2) How does this venture affect the triumvirate? How does it affect other stockholders? How does it lead to the end of stock speculation? How does this end of speculation lead Carnegie in a new direction?

Part 3) Think of two companies you admire or whose products you enjoy. What would it be like if they joined forces? How would this joint venture affect them? How would it affect customers like yourself?

(see the answer keys)

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