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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. Whose pioneering skills in management are codified in his "Book of Rules and the Employees' Timetable?"

2. 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.

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. Although Andrew dislikes the tedium, smells and hours, he works in another textile mill until what?

5. Business transactions at the time take place over what type of communication?

Short Essay Questions

1. What agreement is made between the triumvirate and James L. Shaw?

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

3. How does Andrew escape the textile mills?

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

5. How is Pittsburgh important at this time?

6. What does Carnegie learn at the Pennsylvania Railroad?

7. What work do the Carnegies find in America?

8. What happens on July 15, 1848?

9. 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.

10. Who are Roberto Goizuetta and Any Grove?

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

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?

Essay Topic 3

Carnegie forces out all partners but Schwab and brings in "young geniuses" who prove their merit.

Part 1) Describe this forcing out of the partners except Schwab. Why is Schwab kept? How is he unique from the other partners? How might these other partners have felt about being ousted from the company? Should they have been forced out? Why or why not?

Part 2) Why does Carnegie believe that bringing in "young geniuses" is the answer to his problems? How do these "young geniuses" prove their merit? How was this decision to bring in new people beneficial to Carnegie and his company?

Part 3) How has business changed at this time? What other decisions does Carnegie make that reflect this change in the steel business? How are these decisions and actions significant?

(see the answer keys)

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