Andrew Carnegie and the Steel Industry
Published on Dec 15, 2015
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PRESENTATION OUTLINE
ANDREW CARNEGIE
AND THE STEEL INDUSTRY
Before, making steel was expensive, labor-intensive, and produced only small quantities
BESSEMER PROCESS
- Invented in the mid-1850s
- By English inventor Sir Henry Bessemer
- Converts large amounts of iron ore into steel
- Used hot air to burn out iron impurities
- Other inventors improved on it
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VERTICAL INTEGRATION
- Controlled all aspects of steel production
- Avoided working with other companies
- Increased his profits, ensured stability & quality
- Gave suppliers/buyers no leverage
- Achieved highest levels of steel efficiency
CARNEGIE'S CHILDHOOD
MANY JOBS, MOVING UP
HENRY CLAY FRICK
CARNEGIE'S ASSISTANT AND MANAGER
