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 works ___________ years at the Pennsylvania Railroad while he develops managerial skill, economic principles and personal relationships to become a successful manager, capitalist and entrepreneur.

2. Carnegie, acting under Scott-Thomson proxies, now owns how much of Pacific and Atlantic for the start-up Keystone Telegraph?

3. 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.

4. What railroad focuses capital investments that either increase revenue or reduce unit cost to justify them?

5. He leaves his Pittsburgh home and iron business to live in what city?

Short Essay Questions

1. What work do the Carnegies find in America?

2. Who are Roberto Goizuetta and Any Grove?

3. Give an example of when Carnegie meets railroad's customers and initiates control of division operations when needed.

4. 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.

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

6. What happens on July 15, 1848?

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

8. How is Pittsburgh important at this time?

9. Describe the Columbia Oil Company.

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

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Andrew becomes known as Pittsburgh's best telegraph operator.

Part 1) How does he become known as this? What does this reveal about his personality? How are these character traits continually revealed and reinforced throughout this book?

Part 2) How does Andrew benefit from this title? How does his work ethic and natural business sense impact the decisions he makes throughout his life?

Part 3) What can you learn from Andrew? How can you benefit from Andrew's experiences?

Essay Topic 2

Woodruff is the cornerstone of Carnegie's fortune.

Part 1) What is Woodruff? How has Carnegie's fortune grown up to this point? How does it become the cornerstone of Carnegie's fortune? How does this then lead to Columbia Oil?

Part 2) What important decisions does he make regarding these two companies that make them the cornerstone of his fortune? How do these companies lead to future growth in his wealth? Does he make a good decision by getting out of the oil business, investing in other businesses and finally ending up in the steel business? Explain.

Part 3) How do the decisions you have made in the past affect you today? How much of an impact will the decisions you make today have on your future? Do you believe that Carnegie's decisions were well-thought out or based on instinct and experience? Use the text to support your decision. Are most of your most influential decisions and actions based on organized plans or on your own instinct and knowledge?

Essay Topic 3

The start of ET coincides with the Panic of 1873.

Part 1) What is ET? Why is it significant that the start of ET coincides with this panic? How does this affect Carnegie, his partners, and the investors?

Part 2) How does Carnegie deal with this panic? What decisions does he make? How much of an impact do these decisions have on his company? What do his decisions and actions reveal and reinforce about him?

Part 3) How would you have reacted if you had lived during the Panic of 1873? Would you have been as clear-headed and forward-thinking at Carnegie? Why or why not?

(see the answer keys)

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