John D. Rockefeller Essay - 1578 Words

The United States has come to be known as a major world superpower throughout history. One of the main parts of America that has contributed to its renowned strength has been its economy. The United State’s economy has been growing ever since it began. Credit for its strength and progress in development can be attributed to the financial geniuses of their time. John D. Rockefeller became an economical giant during his time when he changed the face of business by developing ground-breaking new strategies to ensure financial success. Rockefeller dramatically changed the business field during The Gilded Age. He did so through the use of his social Darwinistic philosophy of capitalism, inclusion of vertical and horizontal integration,†¦show more content†¦By establishing these set shipping rates with the railroad companies, it not only made it impossible for his competitors to stay in business, but it also allowed Rockefeller to establish a strong relationship with a key method of transportation for shipping products (Biography). By establishing a strong relationship with the railroad companies, Rockefeller was able to use his successful business practice to â€Å"control over 90 percent of the nation’s oil-refining industry by 1880† (The New Tycoons). As time continued on and his business became more successful, he also applied another clever business strategy known as vertical integration. This process consisted of a company purchasing and controlling each and every step of one’s industry production process. Rockefeller’s company used this process very efficiently as they â€Å"became known to manipulate crude oil prices to drive refineries to bankruptcy, allowing him to buy them cheaply† (Epstein). By controlling each production step, he was able to minimize costs by removing any companies from the middle that were previously completing steps on the way to the finish product. Rockefeller was also known to manipu late prices of crude oil in order to drive his competing refineries into bankruptcy which allowed him to buy them cheaply (Epstein). However, his economic beliefs and ideas were not the only strategies which John Rockefeller used to elevate his business and personal profile to a national level andShow MoreRelatedJohn D. Rockefeller1671 Words   |  7 PagesJohn D. Rockefeller, born on July 8, 1839, has had a huge impact on the course of American history, his reputation spans from being a ruthless businessperson to a thoughtful philanthropist (Tarbell 41). He came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is huge, amassing the greatest private wealth of any American in history. Rockefeller’s influence on our country has been both a positive andRead MoreJohn D. Rockefeller1369 Words   |  5 PagesIntroduction John D. Rockefeller was born on July 8, 1839, and has had a huge impact on the course of American history. His reputation spans from being a ruthlessly powerful businessman to an intelligent philanthropist. He came from a family with not much and lived the American dream, rising to success with his own genius, all by himself. His legacy is unforgettable, gaining the greatest wealth of anyone in history. Rockefeller’s influence on America has been both a positive and a negative one.Read MoreEssay on John D. Rockefeller1369 Words   |  6 Pages15, 2001 The Rockefellers feared the temptations of wealth, yet a visitor once described their estate as the kind of place God would have built if only hed had the money. They amassed a fortune that outraged a Democratic nation, then gave it all away reshaping America. They were the closest thing the country had to a royal family, but the Rockefellers shunned the public eye. For decades, the Rockefeller name was despised in America, associated with John D. Rockefeller Sr.s feared monopolyRead MoreThe Legacy Of John D. Rockefeller1576 Words   |  7 Pageswere these people called the titans. John D. Rockefeller was considered one of the titans. Rockefeller wanted to be the richest man in America, however, he was the first billionaire in America (Independence Hall Association, 2015). He was born in Richford, New York in 1839. Rockefeller was the second child and he had five other siblings which were William Rockefeller, Frank Rockefeller, Lucy Rockefeller Briggs, Francis Rockefeller, and Mary Ann Rockefeller (Famous people,2015). He married LauraRead More John D. Rockefeller Essay1337 Words   |  6 Pages   Ã‚  Ã‚  Ã‚  Ã‚  The Rockefellers feared the temptations of wealth, yet a visitor once described their estate as the kind of place God would have built if only he’d had the money. They amassed a fortune that outraged a Democratic nation, then gave it all away reshaping America. They were the closest thing the country had to a royal family, but the Rockefellers shunned the public eye. For decades, the Rockefeller name was despised in America, associated with John D. Rockefeller Sr.’s feared monopoly, StandardRead MoreThe Legacy Of John D. Rockefeller Essay1500 Words   |  6 PagesJohn Davison Rockefeller One of the most influential men in shaping America, one of the most brilliant men to walk this Earth, one of the most resilient and cut-throat entrepreneurs of time is John D. Rockefeller. There are a few things that make this man have a few of these qualities. The biggest and most important reasons is he is one of the very few men who literally made America and its reality what it is today. There are lots of men who made big moves to push America in this direction, but Rockefeller’sRead MoreJohn D. Rockefeller, Sr.2537 Words   |  11 Pages$340 billion. This amount, according to Forbes’s website, is John D. Rockefeller, Sr.’s net wealth in today’s dollars. Mr. Rockefeller built his fortune through the oil industry. He founded the Standard Oil Company, which owned about 90% of American refineries and pipelines. Although John D. Rockefeller, Sr. is arguably the richest man in United States history, he was also a deeply despised man. According to PBSâ€⠄¢s video on the Rockefellers, he kept a revolver near his bedside because of death and kidnappingRead MoreJohn D. Rockefeller : Principles Of Management1304 Words   |  6 PagesNortheastern State University John D. Rockefeller Annaz Sprinkle Principles of Management 3183 Bruce Richardson November 5, 2016 Annaz Sprinkle Bruce Richardson MGMT 3183 November 5, 2016 John D. Rockefeller Playing a game of kickball in the street was not the only excitement young children had. Many young children often contemplated what they would become in their adult life. They aspired to be a fireman, astronaut, doctor, lawyer and even a wealthy businessman. Some children eventuallyRead MoreJohn D. Rockefeller And Commodore Vanderbilt Essay1483 Words   |  6 PagesFinal Exam John D. Rockefeller and Commodore Vanderbilt were both powerful businessmen of their time. They both dominated the markets that they were in, and they brought innovation and efficiency to their trades. Both entrepreneurs used hard work to break into their markets and become some of the most successful businessmen of history. These men both made such a large impact on their industries, without their contribution those industries would not be what they are today. John D. Rockefeller dominatedRead MoreJohn D. Rockefeller And The Gilded Age1697 Words   |  7 Pagesbusiness in 1870, John D. Rockefeller created the Standard Oil Company, which later dominated the entire oil industry. Although he had years filled with success in the business, Rockefeller faced a disastrous court case that dissolved his company and years of his hard work. Despite this catastrophic event, Rockefeller found other ways to contribute his knowledge and hard-work by making innumerable philanthropic donations. After many years and countless efforts, John D. Rockefeller had one of the most