Analýzy a trendy
Analyses and trends
Successful entrepreneurs
at the turn of the 19th and 20th century
A period when America started to boom
was at the turn of the 19th and 20th cen
tury. During this period the names such as
J.D. Rockefeller, A. Carnegie, J.P. Morgan,
H. Ford and C. Vanderbilt became famous to
the whole world. All these gentlemen had
something in common - they were massively
producing, selling and they offered services
with a great interest of the large part of
population.
Oil, electricity, iron, railroads and also cars for an everyday use were asked at that time in whole America and later
in the world too. Realizing of these things to sale made the
mentioned gentlemen not only successful entrepreneurs but
also appreciated personalities.
The mentioned entrepreneurs laid the foundations of
their business in the buying up their competitors in large, till
they became global international companies such as the wellknown General Electric, J.P. Morgan Chase, U.S. Steel, Ford
Motor Company and many other at present. One of the first
entrepreneur who started with such methods was Cornelius Vanderblit called Commodore. He controlled the railway
transport including all railway routes in the whole America
and when it was possible, he absorbed and eliminated the
competition to gain the space for his own company. That
were the first monopolistic practics.
At that time, the entrepreneurs wanted to bring their services and goods to the top and immediately after it to rule the
market for themselves. The common population in America
was bearing the bad work conditions at that time, because
there were no regulations, number of working hours or hygiene. People payed for it with their lives, but on the other hand
they were glad to have a job, because the great unemployment reigned.
The monopolistic practics were definitely solved by the
antimonopoly law and in 1911 the state succeeded to break
up the biggest monopoly in the world, Standard Oil, which
owner was J.D. Rockefeller. The court ordered him to break
up the basic structure of the company to 90 different companies. The company, which he founded in 1870 in Ohio as
a small firm Standard Oil Co. Inc., was broken up to firms such
as Standard Oil of New York and Standard Oil of New Jersey,
today known as ExxonMobil and Chevron.
Andrew Carnegie was a mogul in steel industry. His company Carnegie Steel Company is today known as U.S. Steel
Corporation. The rename came after repurchase by J.P. Morgan and consolidation of the sector in the value of 13,2 billion
USD. Carnegie’s dream was to get his goods to high level
and to be the top in the market. J.P. Morgan was born in
a banker family and he was expected very much already from
the beginning. Already from his 8 years, father was giving
him the account books and claims to sort, but he liked the
idea of investments and support of business enterprise. In the
time of development of devices for processing the electricity, he connected with Edison and introduc