|Name: _________________________||Period: ___________________|
This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.
Short Answer Questions
1. Carnegie sells _____________ bonds to Junius Morgan in London to complete construction of the Edgar Thomson Works in 1875, and saves 25 percent in costs from the depression.
2. Carnegie relies on what system implemented by Thomson and Scott at the railroad to transfer and adapt it to industry?
3. As mills become more efficient, the need for raw material continues with deposits from _______________________.
4. Other operating benefits like reduced inventory and less machine duplication create cost savings to enable __________________at a market-competitive rate.
5. From 1872 through ________, Carnegie builds an integrated industrial business to become the best-known manufacturer in the world, publishes three books, travels around the world, and becomes a philanthropist with the express intent to give away his fortune.
Short Essay Questions
1. Describe the deficiency that Carnegie corrected by integrating Keystone Bridge and Union Iron?
2. What is a second dimension necessary to effect this integration?
3. What does Frick's chairmanship mark?
4. Describe American steel companies between 1870 and 1900.
5. Describe Duqesne Steel.
6. What does Phipps suggest to Carnegie? How does Carnegie benefit from this?
7. Describe Carnegie's partners at this time.
8. What does the entrepreneurial Carnegie begin in 1872? Describe his work at this time.
9. What causes the 1893 depression? What does Carnegie do at this time?
10. How is Rockefeller involved in Carnegie's business?
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
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?
Essay Topic 3
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?
This section contains 1,180 words
(approx. 4 pages at 300 words per page)