Question and answer
How was Rockefeller able to become so successful in the oil business?
First, he secured the transportation of oil by buying train slots at discounted prices from railroad companies. This was done because he had good relationships with the railroad stakeholders. [ By securing the transports, he was able to buy out many small oil producers at decent prices. Some of the purchases made, if taken into today's business practice, may be viewed as hostile takeovers. By
controlling the transport prices, he had leverage to negotiate buy outs of many small oil producing companies in the areas where railroads were built. This is exactly the propositions that were offered by Rockefeller to the railroads investors to encourage them to build more and more railroads systems. The longer the railroads were built, the more oils they may transport, and overtime, more oil companies to acquire. This business model perhaps is the first legal, and systematic monopoly. Although some may view Rockefeller as cold, ruthless businessmen, however, his contributions in supply-chains management, capitalism efficiency, and strategic business decisions helped sparked a major economic revival in the US, laying the foundations of modern business management used throughout the world today. ]
Expert answered|3oss1ady|Points 20|
Question
Asked 5/20/2013 8:40:10 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
What made the American Industrial Revolution so important in terms of what was accomplished during it?
Weegy: What made the American Industrial Revolution so important in terms of what was accomplished during it?Older inventions had vast improvements made on them. (More)
Question
Expert Answered
Asked 5/20/2013 8:25:38 AM
0 Answers/Comments
20,154,921 questions answered
Popular Conversations
Tissues arranged together make up _____, which, when functioning ...
Weegy: Tissues arranged together make up ORGANS, which, when functioning together in groups, make up SYSTEMS. User: ...
3/27/2015 1:09:34 PM| 7 Answers
Perform the indicated operation. 3 + (-4) 1 -1 7 -7
Weegy: 3 + (-4) = 3 - 4 = -1 User: Evaluate BD for A = 5, B = -2, C = 4 and D = -6. -12 -8 8 12 Weegy: If A = 5, B ...
3/28/2015 4:37:41 AM| 7 Answers
The Ramayana is a text from ...
Weegy: The Ramayana is a text from India. User: The following question references Chapter 4 of The Three Musketeers ...
3/27/2015 5:43:33 AM| 2 Answers
The Preamble is the __________. A. introduction to the ...
Weegy: The Preamble is the introduction to the Constitution. User: Federal is defined as __________. A. the ...
3/27/2015 6:43:00 AM| 2 Answers
What was the first armed conflict of the Cold War? A. the Korean ...
Weegy: The Korean war was the first armed conflict of the Cold War. User: What was the outcome of the Vietnam ...
3/27/2015 11:35:25 AM| 2 Answers
Weegy Stuff
S
L
P
L
P
P
P
Points 1270 [Total 9156]| Ratings 0| Comments 1270| Invitations 0|Offline
S
1
L
Points 622 [Total 1533]| Ratings 6| Comments 562| Invitations 0|Offline
S
P
C
L
P
L
1
P
Points 475 [Total 7782]| Ratings 8| Comments 395| Invitations 0|Offline
S
1
L
L
Points 450 [Total 7951]| Ratings 0| Comments 450| Invitations 0|Offline
S
Points 401 [Total 906]| Ratings 10| Comments 291| Invitations 1|Offline
S
L
Points 353 [Total 1475]| Ratings 2| Comments 333| Invitations 0|Offline
S
Points 199 [Total 567]| Ratings 3| Comments 169| Invitations 0|Offline
S
Points 58 [Total 58]| Ratings 0| Comments 58| Invitations 0|Offline
S
Points 42 [Total 158]| Ratings 4| Comments 2| Invitations 0|Offline
S
Points 35 [Total 126]| Ratings 0| Comments 35| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.