Warm- Up: Analyze this graphic: 1) Use the graphic below to explain (in your own words) what you think vertical & horizontal integration is.

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Warm- Up: Analyze this graphic: 1) Use the graphic below to explain (in your own words) what you think vertical & horizontal integration is

WRITE in your Notebooks (left Side) CHOOSE 3 of the following to identify and describe: (What is it-why is it important to this unit of study--3 sentences… each) Laissez Faire economics 3 Reasons U.S. was able to industrialize Union and Central Pacific Chinese and Irish Immigrants 3 important inventions

Money Money Money Money! Big Business Baby! Money Money Money Money!

Who was Andrew Carnegie? Self-made millionaire (estimated net worth in today's dollars = up to $297 Billion) Developed method for creating steel cheaply Owned US Steel based in Pittsburgh (Steelers) Utilized method of vertical integration

What is Vertical Integration? Company owns every aspect of its business needed to operate. Turn and Talk: Try to create a list of everything McDonald’s would need to own to be vertically integrated

Let’s take another look

Who was J.D. Rockefeller Self-made billionaire (world’s first) (estimated net worth today: up to 663 billion – wealthiest person EVER) Oil tycoon Used a method called horizontal integration to amass his fortune Creates a monopoly known as Standard Oil

What is Horizontal Integration? Company buys competing businesses Turn and Talk: Try to create a list of everything McDonald’s would need to own to be horizontally integrated

Let’s take another look

Turn and Talk: Analyze this primary source 1) What images do you see in this cartoon 2) What is the artist trying to say

Key Terms on Businesses Trust: legal arrangement that allows one person to manage another person’s company—in business this was done through controlling stock shares Holding Companies: control stock of other companies; not the company itself Monopoly: Controlling the majority of a particular business sector or type

COFFEE SHOP CHATS: “HI I AM…” Read and learn Choose an INTERESTING TOPIC; try to talk about yourself in the conversation. Consider this a big business brag session. PLAN A CONVERSATION. Every sentence you say has to start with “Hi I Am…” SHARE YOUR CONVERSATION

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