John D. Rockefeller
by Lillian Bonar
Essay: John D. Rockefeller
Pages: 11
Rating: 3 stars
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The United States has come to be known as a major world superpower throughout history. One of the main parts
of America that has contributed to its renowned strength has been its economy. The United State’s economy has
been growing ever since it began. Credit for its strength and progress in development can be attributed to the
financial geniuses of their time. John D. Rockefeller became an economical giant during his time when he changed
the face of business by developing ground-breaking new strategies to ensure financial success. Rockefeller
dramatically changed the business field during The Gilded Age. He did so through the use of his social Darwinistic
philosophy of capitalism, inclusion of vertical and horizontal integration, combination of both his business views
and religious beliefs, his Standard Oil Company along with specific refinery processes. He founded the Standard
Oil Company, one of the first types of businesses during its time. Although this company helped Rockefeller
become known for his successful and competitive strategies, he did develop these strategies by himself with the
use of his own beliefs and views.
During John D. Rockefeller’s financial career in The Gilded Age, he used many cutthroat practices to ensure that
local competitors would not challenge and he would have control over the market of oil with his Standard Oil
Company. In order to make sure he controlled the oil market, he used what was known as horizontal integration.
This name became the label for the process of eliminating any potential competition from the market that one
wishes to succeed in. In order to establish a virtual monopoly over the oil market, Rockefeller used clever
strategies to do so. John Rockefeller used “his firm's superi...