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John D Rockefeller as a captain of Industry

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John D Rockefeller as a captain of Industry

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  • August 10, 2005
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John D Rockefeller, founder of standard oil was a captain of industry, he was led to the path of efficiency through his mother and father when he was younger; this helped him grow into one of the biggest companies of the time. He soon started Standard Oil and became a billionaire. Despite the robber barren ways he got to the top, he got there and set a way for American corporations of the future.

His father started him on the road to business, when John D Rockefeller was seven his father loaned him five dollars at high interest rates. However harsh this may seem this paved the way for John. He soon made the correct business choice to lead him to the top. He started doing small job around the neighborhood such as digging up potatoes and saved every cent. He soon learned the harsh ways of his father such as buying pound candy and selling it by the piece and by age, thirteen he was lending fifty dollars at compound interests. His mother led him on a path of efficiency, which would prove to be key to his career. His mother taught him the proverb that willful waste makes woeful want. Soon John was efficient on everything, how quickly he ate and hiring people to do the task, which he thought time consuming. One instant he saved 1.54 per oil barrel by just putting one less drop of sealant on each barrel.

John D Rockefeller was a genius businessman. He had a natural knack for it. He reduced the competition by inventing new ideas such as quantity discount, where he would charge less if the customer bought more. This way he could make people buy his oil instead of competitors because it seemed cheaper, and he was making the customer buy more because it seemed like a good deal. Rockefeller also saved money by demanding lower transportation costs, which he could do because he was dominating the business and without him, there would be no business. Soon his competitors were paying five times as much in transportation costs. Rockefeller at one point just eliminated the...