A Brief Analysis of The Steel Industry Essays -- Industry

Steel IndustryIn the early part of this century was a time when industry was booming with growth or so the installation of major railroads. With this growth came the transatlantic cable, the telegraph, and a whole lot of steel. Steel would be necessitate in the construction of these new exile systems and communications were now possible between businesses and industries. (Wren, 2005)This paper will first discuss the nurture of the steel industry. Next, it will examine steel, and in the impact it had on the transportation industry. Finally, it will discuss systematic management practices of this time and how they gave birth to the scientific approach that is still in use today.SteelThe steel industry was needed for almost everything. Alfred D Chandler Jr. could see the potential market value early on. According to WrenChandler traced the history of various firms and delineated four phases in the history of the large U.S. enterprise 1.The initial expansion and accumulati on 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 different times, depending on the state of technology and the firms ability to act 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 through 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 set http//www.english-online.at/history/industrial-revolution/industrial-revolution-manufacturing.htmHistory.com. (Ed.). (n.d.). Andrew Car negie. Retrieved April 23, 2012, from History.com Web site http//www.history.com/topics/andrew-carnegieKernsanalysis.com. (Ed.). (n.d.). An Overview of Management. 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)