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Balancing Profit and Ethics: The Dilemma of TechBo Oil Company

As the President and CEO of TechBo Oil Company, you're faced with the challenge of maximizing profits while grappling with the ethical implications of your decisions. With options to cut worker wages, build independent shipping lines, or acquire rival companies, the lure of increased wealth beckons. However, the notion of a "Robber Baron" versus a "Captain of Industry" looms large. Explore the impact of these practices on the economy and society, and prepare to discuss the dual nature of industrialists in a changing landscape.

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Balancing Profit and Ethics: The Dilemma of TechBo Oil Company

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  1. Think Now You are the President and CEO of TechBo Oil Company. Your company has been quite successful, and you have wealth beyond your wildest dreams. However, you’ve discovered that greed is an unquenchable thirst, and you are looking to improve your profits. You’ve looked over your budget with your Head Accountant, and determined that you could cut spending in multiple areas, including the following: Workers: You could lower the wage you pay your workers or increase their hours. Or, you could hire workers that are willing to work for less. Shipping: Rather than pay another railroad company to ship your oil, you can build your own railroad. Why let another company reap your profits? Resources: You could acquire the resources needed to run your business – forests, ore, iron, raw materials, and farms – so you don’t have to buy these materials from someone else. Acquisition: You could buy up your fellow oil companies and reap their profits too! Where do you cut? Why?

  2. What is a Robber Baron? What is a Captain of Industry?

  3. Today’s Webhunt • You’ll be assigned one of the following: • Andrew Carnegie • Cornelius Vanderbilt • J. Pierpont Morgan • John D. Rockefeller • Research using the links I’ve provided on my website • Complete the chart • Determine… robber baron or captain of industry? • Be ready to present & discuss!

  4. Essential Questions • What various practices of industrialists & financiers led to their being labeled "robber barons"? "Captains of industry"? • In what ways did such industrialists & financiers harm and/or benefit the U.S. economy and the quality of life of its citizens?

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