Saturday, April 20, 2013

Rockefeller and Standard Oil (KI) Jill Mingus

           John D. Rockefeller almost accomplished the horizontal integration. Horizontal integration is the combining of firms around one business into a bigger corporation. Rockefeller was extremely successful in the oil business, and what made him successful was athe use of oil refineries. While many entrepreneurs drilled for oil, hoping to become rich, Rockefeller built refineries instead. In 1870, Rockefeller Company Standard Oil was founded by Rockefeller and some associates. He would buy out his competitors; he controlled about 90 percent of the oil refineries in the United States by the 1880s.

No comments:

Post a Comment