He earned most of his fortune in the steel industry. In the 1870s, he founded the Carnegie Steel Company.
is there any details I should add to this paragraph
is about how he make his money
Yes. Two sentences is not a good paragraph for an eighth grader.
I need about 2 or one more sentence
please help!!!!!
my teacher doesn't want a 2 paragraph essay since it's a powerpoint
Goodness, Lauren. With all of the sites I've posted, you should have a ton of details to add to this paragraph -- which should be at least 6 sentences long.
Read! Read! Read!
-_- ok
9_9
To provide more details about how he made his money, you can include the following information:
1. Expansion of Carnegie Steel Company: After its founding in the 1870s, Carnegie Steel Company experienced significant growth under the leadership of its founder. You can mention how Andrew Carnegie strategically expanded the company's operations, acquired new steel mills, and increased production capacity.
2. Utilization of Vertical Integration: Carnegie played a pivotal role in introducing and implementing vertical integration in the steel industry. Explain how he vertically integrated his operations by acquiring and controlling every aspect of the supply chain, from iron ore mines to transportation infrastructure to distribution networks. This allowed him to streamline operations, reduce costs, and secure a dominant market position.
3. Cost Efficiency and Technological Innovations: Highlight Carnegie's emphasis on cost efficiency and continuous technological advancements. Describe how he invested heavily in upgrading equipment, adopting new manufacturing processes, and optimizing production methods. These efforts allowed Carnegie Steel Company to produce steel more efficiently and at lower costs than its competitors.
4. Expanding into New Markets: Discuss how Carnegie expanded his business beyond the domestic market. Detail his efforts to establish international trade partnerships and open steel production facilities overseas. Mention specific countries or regions where Carnegie Steel Company made significant investments, such as Europe or South America.
5. Merger with U.S. Steel: To provide a comprehensive overview, you can mention the later phase of Carnegie's career when he sold his company to J.P. Morgan's U.S. Steel Corporation. Explain the significance of this merger in terms of creating the first billion-dollar corporation and further consolidating the American steel industry.
By incorporating these details, you can offer a more comprehensive understanding of how Carnegie made his fortune in the steel industry.