Which industrialist is credited with introducing the practice of vertical integration?

The correct choice is Andrew Carnegie, who is often credited with popularizing the practice of vertical integration in the steel industry during the late 19th century. Vertical integration involves a company controlling multiple stages of production and distribution, from raw materials to manufacturing to the final product. Carnegie believed that owning the entire production process would reduce costs, improve efficiency, and eliminate middlemen, allowing him to sell steel at lower prices and dominate the market.

Carnegie's implementation of vertical integration was evident in his acquisition of iron ore mines, railroads for transport, and steel mills, enabling him to control every aspect of steel production. This strategy not only strengthened his business operations but also helped him achieve significant growth and profit, positioning Carnegie Steel Company as one of the largest and most profitable industrial enterprises of its time.

While John D. Rockefeller is known for horizontal integration in the oil industry, and Henry Ford revolutionized mass production techniques, their approaches differ fundamentally from Carnegie's vertical strategy. J.P. Morgan played a crucial role in banking and financing but was not directly associated with the founding practices of vertical integration. Thus, Carnegie's pioneering efforts in this area are what make him the correct answer.