How Standard Oil Typified the Rise of Big Business
The rise of big business was most prominently observed in America and the contributing factor is most importantly: Standard Oil.
In the 19th century a great change was observed in business. The business dealers were able to make America successful due to their competitive nature. They were successful in creating an enterprise. Different combinations were used to make the industry more successful and efficient. John D Rockefeller combined different oil companies. This increased the production and made the organization more efficient thus giving a rise to the business.
The rise of big business gave way to the rise of well known large firms. The rise in the oil industry also led to the success of the steel company. A new distillation method was discovered in the year 1857. This increased the minimum size of oil refinery to a daily aptitude of 1000 barrels. This increased the sales and ultimately had a great effect on the economy of the country.
Furthermore, the Standard Refineries also made use of the byproducts. The standard refineries also made assured that there were no small savings. Every dollar wasted was reused. This greatly affected the economy making it boom and ultimately resulting in the rise of the big
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- Kendall Beaton (2005) ‘Standard Oil’ Page 600, Appleton Century Crofts.
 Kendall Beaton, 2005.