Factory Simulation Reflection

Assembly Line Production

Reflection1. List 5 words that describe the process for

creating your first portrait – Individual Production.

2. List 5 words that describe the production of the 2nd portrait – assembly line production.

3. What are the Pros and Cons of:a. Individual Production

b. Assembly Line Production

Big Business…In the Industrial Age

Robber Barons

Businessmen & industrialistsRuthless tactics to earn $

Rockefeller 90% of oil refining businessPaid low wagesDropped prices to drive others out of businessBought out bankrupt competitors, then hiked up prices

Rockefeller

Andrew Carnegie

Success due to management practice

make better products cheaper

Carnegie's GreedWanted to control entire steel industryBought out all suppliers

controlled materials & transportation

control over quantity and quality

Carnegie’s Greedsold, in 1901 producing 80% of the world’s steel

monopolized whole steel industry

Carnegie’s Mgt.

Attracted talented peopleOffered stockEncouraged competition between employees to increase production

Social DarwinismPhilosophical explanation for success“Survival of the Fittest”

Social DarwinismBiological EvolutionSome species flourish and pass traits onto others(the fittest) and some don’t

Natural selectionThe weak are weeded out and the strong survive

Monopolies2 types of monopoliesVertical Monopoly- owns all parts

and supplies needed for production (ex: Carnegie purchasing steel, coal & Railroads)

Horizontal Monopoly – own all competitors or like producers (ex: Rockefeller owning virtually all oil production)

Problem MonopoliesHow many of you have ever played monopolyHow do you win?How does it feel to lose?Real life example- MicrosoftPositives?Negatives?

The Government Takes A Stand

Govt. says monopolies are no longer allowedSherman Anti Trust ActAny attempt to interfere with free trade by forming a trust was illegal

Political ImplicationsRobber Barons gave $$$ to politiciansPoliticians did not oppose actions of BaronsBig business ruled!