Andrew Carnegie, The King of Steel Innovation-Social and Decision Sciences - Carnegie Mellon University

Wednesday, February 27, 2013

Andrew Carnegie, The King of Steel Innovation

Investor’s Business Daily

David Hounshell
David Hounshell

Before Andrew Carnegie founded Carnegie Tech, which later became Carnegie Mellon University, he was the king of steel.  According to the article, he founded Carnegie Steel Company in Pittsburgh and sold it in 1901 for $480 million.  David Hounshell notes, “Andrew Carnegie was a brilliant cost analyst.  He knew what were his labor costs, his capital costs and his material costs, and he knew how to drive the costs down.  This was a great advantage”.

By: David Saito-Chung