A Brief Analysis of The Steel Industry Essays -- Industry

Steel IndustryIn the archeozoic part of this century was a time when industry was booming with harvest-tide around the installation of major railroads. With this growth came the transatlantic cable, the telegraph, and a safe and sound lot of steel. Steel would be needed in the construction of these impudent transportation systems and communications were now possible between businesses and industries. ( wren, 2005)This paper go out first discuss the development of the steel industry. Next, it will examine steel, and in the impact it had on the transportation industry. Finally, it will discuss systematic vigilance practices of this time and how they gave birth to the scientific approach that is still in exercise today.SteelThe steel industry was needed for almost everything. Alfred D Chandler junior could see the potential market value early on. According to WrenChandler traced the bill of various firms and delineated four phases in the history of the banging U.S. enterprise 1.The initial working out and accumulation of resources2.The rationalization of the use of resources3.The expansion into new markets and lines to help assure the full use of resources 4.The development of a new structure that rationalized the renewal of growth. For many companies, the phases started and ended at diametrical times, depending on the state of technology and the firms ability to respond and capitalize on market opportunities. Chandler further noted two facets of industrial growth1.Horizontal growth from 1879 to 1893- which occurred when producers of similar fields combined by dint of mergers, pools, or trusts to gain economies of scale, and 2.Vertical growth from 1898 to 1904- which occurred when firms moved backward or forward in ter... ...vents/pande01.htmlEnglish Online. (Ed.). (n.d.). The Industrial Revolution. Retrieved April 23, 2012, from English-online.com Web site http//www.english-online.at/history/industrial-revolution/industrial-revo lution-manufacturing.htmHistory.com. (Ed.). (n.d.). Andrew Carnegie. Retrieved April 23, 2012, from History.com Web site http//www.history.com/topics/andrew-carnegieKernsanalysis.com. (Ed.). (n.d.). An Overview of concern. Retrieved April 24, 2012, from Fredrick Taylor Scientific Management Web site http//www.kernsanalysis.com/sjsu/ise250/history.htmVectorstudy.com. (Ed.). (2008). Henri Fayol Management Gurus. Retrieved April 25, 2012, from Vector Study.com Web site http//www.vectorstudy.com/management_gurus/henri_fayol.htmWren. (2005). The History of Management Thought (5th ed.). Danvers, MA Wiley & Sons. (Original work published 1976)