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

WRITE ON YOUR WARM-UP SLIPS! CHOOSE 3 of the following to identify and describe: (What is it-why is it important to this unit of study--3 sentences… each) Credit Mobilier Scandal 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) Utilized method for creating steel cheaply (Bessemer Process) Owned US Steel based in Pittsburgh (Steelers) Utilized method of vertical integration

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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

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

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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

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

Jigsaw Activity In your groups you will receive 4 mini-bios of some of the Titans of Industry Each person is to read one and compile a list of key ideas about the their individual After everyone is done reading and compiling info each person will take a turn explaining to the rest of their group who their person was Everyone else in the group will create a graphic organizer with information on each person’s individual Once each person has taken their turn, groups will create a poster identifying key facts about EACH of the Titans of Industry NAME

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…” or “I believe” SHARE YOUR CONVERSATION