John Davis Rockefeller a name that emerged in the 18th century. Rockefeller symbolized monopoly power and economic concentration. He became the theme for my research project because of his fascinating history and compassion for his business. Just by researching and finding sufficient sources to complete this project it has enhanced my understanding. There is so much information available about Rockefeller that narrowing down the top journal articles, and historical documents were a difficult task. Everything about Rockefeller is highly engaging. Websites like PBS.org, History Study Center, Gale Biography In Context, America EB and U-S History have provided a substantial amount of information regarding the origin, history and family of Rockefeller. The achievements of Rockefeller introduced us to horizontal integration and trusts. He worked hard and brought his family a prosperous future. This research project was not only informative but choosing John D. Rockefeller as my topic made it truly exciting.
Rockefeller entered a professional school. He studied double-entry bookkeeping, penmanship, banking, and commercial law. He kept careful accounts of his finances; he had notes for every receipt, expenditure and charitable donation. At the unusually young age of 24, Rockefeller got involved in the oil business with his partners Maurice Clark and Samuel Andrews. With his partners, Rockefeller striked a pivotal deal with a railroad which guaranteed them a certain volume of shipments in exchange for rebates. Rockefeller’s dedication for his work helped him start Standard Oil of Ohio with $1 million in assets, which became the largest corporation in the country. Still at the young age of 40, Rockefeller became the richest man in the country. In the beginning of my research, I knew extremely little about oil. I only had a vague idea about Rockefeller and how he became famous. I found detailed information regarding Rockefeller’s history after reading the website Pbs.org. This website provided me with all the right tools like graphics and interactive maps to conduct my research clearly. I respect the hard work and aspire from his ambition that, he put into becoming rich. His dedication to every aspect of job he performed in his life is truly impressive.
The website analysis allowed my to gain knowledge about the history of Rockefeller. The journal article provided me with a glimpse of the business world. Blaine McCormick and Burton W Folsom Jr wrote, “A survey of Business Historians an America’s Greatest Entrepreneurs” article is about the “greatness” in American business history and how the greatness perceived among business leaders. This article explains the transformation in American business led by the entrepreneurs and business people like John D. Rockefeller. From this article, we use the vibe of Rockefeller’s strong influence during his time. Rockefeller’s power over the politicians with his wealth made him look even stronger. This article does not represent the lifetime and achievements of Rockefeller, but it tells us that he worked hard to move up the ladder to success. Rockefeller among other rich businessmen remembered him by his risk taking ideas and financially stable economic position in society. In his life he over shadowed his powers as the business giant of Standard Oil. He introduced horizontal integration of the oil business, which gave him control, and ownership of his company. This horizontal integration made Standard Oil recognized throughout the nation.
Throughout this research project, I have learned power and wealth can make or break an individual. The multinational dimension of his role in American economy made Rockefeller one of the major tycoons of his time. The article explains us but his personal life which became exceptionally well after his success in business. Even, though Rockefeller was rich, he became involved in many foundations but the one known most is Rockefeller Foundation where he helped finance University of Chicago. His finances also helped the medical conditions of his time like hook worms and yellow fever, which took lives of many. Rockefeller’s successful story is a motivation for all. It states that with power and money-achieving greatness is possible. Standard oil became the first example of the trust in American business. Trustees for a widow, orphan or an estate had wider powers than a corporation.
The relation of wealth and influence demonstrates transformation in American business led by the diverse array of entrepreneurs and businesspeople. Rockefeller’s charismatic persona was hard to miss during this research project. His generosity funding foundations and loyalty to work increased my respect for him. Rockefeller’s did not have a hugely popular start he had a long run towards success. His determination towards hard work has inspired me most.
Rockefeller ambitious nature justified remarkably by P.W. Wilson article “John D. Rockefeller At Ninety”. P.W. Wilson’s article enhanced my knowledge about Rockefeller’s funds, his distribution of wealth and most notable his love for hard work.
John Davis Rockefeller a name that emerged in the 18th century. Everything about Rockefeller is highly engaging. After completing this research project, I feel as I have learned a lot about Rockefeller and his ambition to work harder. His nature has influenced me to live a “simple, saner life and “to be honest with work”.