LEC+08+CARNEGIE+1+-S12-1

LEC+08+CARNEGIE+1+-S12-1 - BA AS 172 ANDREW CARNEGIE EARLY...

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1 BA - AS 172 ANDREW CARNEGIE: EARLY YEARS IN THE RAILROAD INDUSTRY AND FINANCE PICK UP COMMENTED ON RPS 1-3 Mid-term review questions up front as well
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2 RISE OF BIG BUSINESS l CHANGES INVOLVED l HISTORICAL DEBATES “Old School” (Robber Baron or Industrial Statesmen focus) vs “New School” (Chandlerian business history) New “Post-Chandlerian School”
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3 We will use biographical and Chandlerian lenses l Andrew Carnegie Biography – his personality, ethics, management creativity Context – market forces, culture His innovative strategies, technological and management innovation His impact Broader significance of his innovations
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4 GREAT CASE STUDY l Iconic – Archetypical Involved in in creation of big businesses in mfg and rrs - and finance Fabulous wealth l Complex, ambiguous Symbol of era’s successes But also its problems, excesses
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5 GREAT CASE STUDY Left body of written records Liberal thinker Sense of his own hopes, disappointments
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6 OUR CONCERNS l What did Carnegie achieve? His innovations Business methods Financial and management strategies New technologies l How best to interpret?
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7 What about the man, himself? A great “industrial statesman”? A rational profit maximizer? Or a “ robber baron ”?
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8 TODAY l Focus on his early achievements At Penn. RR. As a financier l What did he do? l What does this tell us about The evolution of railroad mgmt? Capital formation in this era? Wed – his career in Iron and steel
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IN THE BACKGROUND l How to explain rise of big business Relative value of old and new schools Biography vs economic analysis l How evaluate/assess significance of AC’s contribution?
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This note was uploaded on 03/08/2012 for the course ECON 155 taught by Professor Klein during the Spring '12 term at Berkeley.

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LEC+08+CARNEGIE+1+-S12-1 - BA AS 172 ANDREW CARNEGIE EARLY...

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