Andrew Carnegie - Hero or Hypocrite?

Andrew Carnegie - Hero or Hypocrite?

"A hero is born among a hundred, a wise man is found among a thousand, but an accomplished one might not be found even among a hundred thousand men" - Plato. Andrew Carnegie was the "King of Steel," but is often questioned on whether or not he was deserving of the title "hero." Andrew Carnegie was a hero because of his self-made reputation, his successful business, and his concern for other people.

Andrew Carnegie provided the first step for all future entrepreneurs and businessmen through his biggest accomplishment, his steel company. Andrew Carnegie used numerous ideas and strategies to become the successful businessman he turned out to be. The most notable of his strategies was the method of vertical integration, which is defined as the control of the production process from raw material to manufacture and sale of finished project Along with the steel mills he already owned, Andrew Carnegie also oversaw the iron ore fields, steamships, ports, and the Frick Coke fields (Document G). Although the use of vertical integration rewarded him with a vast amount of money, he also used the technique to give many unemployed people jobs that in turn rewarded them with money as well. One reason Andrew Carnegie was such a successful businessman was because he was always well informed of his finances and the status of other competing businesses. "Carnegie's watch on costs never let up in his first twenty-five years in the steel business. He grew more fanatical as years passed and competition stiffened" (Document C). He was also aware of the financial status of competitors in order to ensure that he had lower prices and more customers than the competition. Over time, selling prices decreased because production costs lowered and competition increased. However, he made sure the selling price was higher than his production cost in order to make a profit (Document D).