JD ROCKAFELLER
CASE #1 JD Rockafeller Pg 82
1. In essence to the response of this question tying in how Standard Oil had changed society with references to the levels and spheres of corporate power discusses in the chapter, I would say that the power of economic, cultural and political of the Standard Oil has led to the big changes to the society. Based on the text book mentioned that “Rockefeller’s company was capitalized at 70$ million and produced 90 percent of the nation’s refining output.” This has shown how strong the economic power of Standard Oil is. The Standard Oil Company built the facilities, employ workers.
At a deeper level it can make fuels lead to the growth of auto industry. Aside from this fact as well it can boost up the American economy. Standard Oil’s economic power was not exercised in keeping with the social contract of Rockefeller’s era. From the text it’s very obvious that Rockefeller against the social contract, this can be shown when Rockefeller was practicing “power beyond right” .In additional he used those unethical method to eliminate his competitor from the oil industry.
For an example “He made them ‘sweat’ and ‘feel sick’ until they sold.” This statement has clearly shows how in respect Rockefeller used aggressive ways to fight with the competitor for his own interest. JD I feel enacted these actions to keep on the upward slope in remaining above his competition in secretive ways without them knowing. This was a smart business decision to keep concealed all his assets so as the competition would not know what he was fully capable of in maintaining his stance in the monopoly business while at the same time changing the way society was changed due to the presence of Standard Oil.
2. From the case, Standard Oil had exceeded the limits of business power. Business power can be defined as the force behind an act by a company, industry, or sector. Rockefeller used his business power to eliminate his competitors and also prevent his
1. In essence to the response of this question tying in how Standard Oil had changed society with references to the levels and spheres of corporate power discusses in the chapter, I would say that the power of economic, cultural and political of the Standard Oil has led to the big changes to the society. Based on the text book mentioned that “Rockefeller’s company was capitalized at 70$ million and produced 90 percent of the nation’s refining output.” This has shown how strong the economic power of Standard Oil is. The Standard Oil Company built the facilities, employ workers.
At a deeper level it can make fuels lead to the growth of auto industry. Aside from this fact as well it can boost up the American economy. Standard Oil’s economic power was not exercised in keeping with the social contract of Rockefeller’s era. From the text it’s very obvious that Rockefeller against the social contract, this can be shown when Rockefeller was practicing “power beyond right” .In additional he used those unethical method to eliminate his competitor from the oil industry.
For an example “He made them ‘sweat’ and ‘feel sick’ until they sold.” This statement has clearly shows how in respect Rockefeller used aggressive ways to fight with the competitor for his own interest. JD I feel enacted these actions to keep on the upward slope in remaining above his competition in secretive ways without them knowing. This was a smart business decision to keep concealed all his assets so as the competition would not know what he was fully capable of in maintaining his stance in the monopoly business while at the same time changing the way society was changed due to the presence of Standard Oil.
2. From the case, Standard Oil had exceeded the limits of business power. Business power can be defined as the force behind an act by a company, industry, or sector. Rockefeller used his business power to eliminate his competitors and also prevent his