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. By the age of __________ Carnegie manages a complex, multi-unit industrial enterprise and capitalizes on knowing the value of money based on what it can earn.

2. In ___________, Andrew is offered a job by Tom Scott, western division superintendent of the Pennsylvania Railroad, to be his secretary and personal telegrapher.

3. When dividend payments stop, Carnegie plans a ________ exit to maximize Pacific's price by speculation that lets the triumvirate cash out and leave the remaining Pacific stockholders to drown.

4. Erie and Pennsylvania Railroads each have ________ thousand employees trained into a disciplined workforce.

5. Carnegie promotes expanding with other Pennsylvania-controlled franchises through Scott and assures construction in his contracting business by bartering Pacific stock for construction costs with ___________ exchange rates.

Short Essay Questions

1. What work do the Carnegies find in America?

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

3. What does Carnegie learn at the Pennsylvania Railroad?

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

5. Describe Carnegie's rise in business by 1865.

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

7. What does Daniel McCallum offer those in management?

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

9. By what is this dream not diminished?

10. 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.

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Andrew escapes the coal and oil of textile mills.

Part 1) How does he escape? To where does he escape? How does he benefit from this? How do his experiences in these mills influence him?

Part 2) How important are his early careers to his life as a capitalist and then as entrepreneur? How does he use the knowledge he gains throughout his life in his career decisions? How does he benefit from doing this?

Part 3) How might your own work experiences influence you as an adult in the work force? What experiences have already occurred in your life that will be beneficial in the future?

Essay Topic 2

Andrew Carnegie emigrated from Scotland.

Part 1) When and why did he emigrate from Scotland? Describe his life upon arriving in the U.S. How did it compare to the lives of other immigrants?

Part 2) How did his family adjust to life in America? How did this affect Andrew? When did he get the opportunity for advancement? How was this a case of being in the right place at the right time?

Part 3) What might it be like to be an immigrant today? Might it be easier or harder to adjust to American life? Explain.

Essay Topic 3

With the forming of an enterprise to manufacture Bessemer steel, Carnegie changes from capitalist to entrepreneur.

Part 1) Why does he decide to move into the steel business? How does this change him from a capitalist to an entrepreneur? Is this a good maneuver? If so, why? If not, why not?

Part 2) Carnegie follows a policy of putting all of his eggs in the same basket and watching that basket. Is this a good policy? Why or why not? How has becoming an entrepreneur changed Carnegie? In what ways has he stayed the same?

Part 3) Carnegie's partners include many wealthy executives and merchants. How important are these men in Carnegie's new ventures in steel? How have others been important in Carnegie's professional career? How important are others in your own life and advancements you have made?

(see the answer keys)

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