According to Dobson, "Carnegie constantly searched for improved processes and new methods to reduce his product or service costs" (150). Easy for the PRR procedure which he adapted to manufacturing were detailed systems of cost accounting and stringent financial controls. He plowed back into new plant and equipment retained earnings and created prudent use of financial leverage. Livesay says that "authority and responsibility have been defined and assigned inside a way that performance could possibly be individually measured" (101). Employees who contributed on the bottom line advanced, all others have been weeded out. Operations were integrated horizontally and vertically to take in advantage of economies of scale. Carnegie's philosophy was "cut the prices, scoop the market, run the mills full . . . watch the costs and the profits will take in care of themselves" (Livesay 101).
Carnegie was a ruthless competitor driving costs down for the issue where none of his rivals could match his firms' prices. He was a Social Darwinist, who thought that his individual achievement confirmed that only the fittest (the strongest) survive. Some of his rivals used even less ethical practices than he during the Age of the Robber Barons, but Livesay says "at one time or another he lied, concealed information and misrepresented facts" (71). His capability to compete in this manner was facilitated by a cultural ethos which glorified company success. Dobson says that "as long as most People in america thought inside significance of maintaining
Carnegie relied on a guidance of Henry Frick whose weakness "lay in labor relations" (Dobson 152). In a published article, Carnegie declared that "the proper from the working-man to combine and form trade-unions is . . . sacred" (Swetnam 92). Livesay stated that "Carnegie enjoyed appearing as an enlightened pioneer in labor policies" (136). However, his "typical response to labor agitation was to close down operations until the workers accepted his offer" (Dobson 152). Under Jones' influence, he experimented with reducing the working day from 12 to eight hours, but insisted on tying wages to steel prices.
The late 19th and mid-20th centuries made quite a variety of forms of industrial entrepreneurs, for instance Carnegie and Iacocca, because of changing social problems and beliefs.
After Jones was killed in a blast furnace explosion in 1889,
Somewhat of a maverick himself, Iacocca succeeded from the context of a consensus-oriented management procedure at Ford Motor Business of which he became president at a relatively young age. His skills lay primarily within the areas of inter-personal relations, promoting and public relations, talents which were known as for within the post-war period, "one on the finest selling markets of all time" (Halberstam 118). Iacocca was responsible for the development of a few of the hottest selling Ford cars such as the Mustang. His job benefitted during the diminished prejudice against Catholics in large corporations; however, prior to Henry Ford II fired Iacocca in 1978 he reportedly said: "I don't want that Italian interloper to take in over" (Iacocca 111). A self-made man like Carnegie, he also believed that "if you retain your nose on the grindstone and work at it, . . . you can grow to be as great as you desire to be" (341). He later utilized these skills on the resuscitation of Chrysler wherever he was CEO and became the industry's leading Japan-basher.
Swetnam says that "after Bloody Homestead, Carnegie came to feel how the lives of workmen
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