Rockefeller was a man who always had a “leg up”, so he knew what his competitors were or were not generating as profit. Making this known to his fellow oil men in Cleveland, he graciously offered to buy their businesses out, saving them from a great loss. This worked so well that by 1879 Standard Oil was in control of approximately 90 percent of the entire oil industry. While it might seem that Rockefeller built his fortune on bargaining, negotiations and scheming, he did use other business tactics to help further his company. Like most great business persons, at the forefront of Rockefeller's mind was always, “How can I maximize my profit?”, it is apparent that all of the methods he used reflected that. One of several business tactics Rockefeller is known for is vertical integration. Whether it be huge or minute, Rockefeller wanted ownership of all things manufactured related to his oil business. Vertical integration allowed him to solely make profit without any money going
Rockefeller was a man who always had a “leg up”, so he knew what his competitors were or were not generating as profit. Making this known to his fellow oil men in Cleveland, he graciously offered to buy their businesses out, saving them from a great loss. This worked so well that by 1879 Standard Oil was in control of approximately 90 percent of the entire oil industry. While it might seem that Rockefeller built his fortune on bargaining, negotiations and scheming, he did use other business tactics to help further his company. Like most great business persons, at the forefront of Rockefeller's mind was always, “How can I maximize my profit?”, it is apparent that all of the methods he used reflected that. One of several business tactics Rockefeller is known for is vertical integration. Whether it be huge or minute, Rockefeller wanted ownership of all things manufactured related to his oil business. Vertical integration allowed him to solely make profit without any money going