Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Business History - Essay Example

Comments (0) Cite this document
Nothing is really impossible if you just put your heart to it. A fine example of that is the story of two prominent industrialists that left indelible footprints in the sands of time in business history.
Born in Forres, Scotland on August 6, 1820, Donald Alexander Smith is the 1st Baron of Strathcona and Mount Royal, Hudson Bay's Company (HBC) officer, business man, politician, diplomat and philanthropist…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Business History
Read TextPreview

Extract of sample "Business History"

Download file to see previous pages Smith's strong will coupled with his hard working attitude made him a successful man. His Canadian Office was in fact nicknamed as "The Light House" because the windows are frequently illuminated long after the remainder of the street was in darkness. On the other hand, Cooke's efficiency, friendliness and competence have impressed many businessmen which enabled him to climb in the corporate ladder of success. "He developed his skills rapidly, writing to his older brother at one point, 'I am getting to be a good judge of bank notes, can tell counterfeits at sight, and know all nearly the broken banks in the United States of America...' By the age of twenty-one Cooke was a full partner in the banking house..." (Frey 58).
Smith had made his way to his fortune with the use of his persuasive skills and political connections. "He used his influence as an HBC officer and bribes to attempt a peaceful settlement..." (Redford 940). It was also said that, "Smith profited from his position in the HBC to survey business opportunities both for the company and for himself" (Redford 941). Smiths numerous personal business endeavours put a stress in his career at HBC (Hudson's Bay Company). "Undoubtedly, Smith's business ventures distracted him from his management of the HBC's affairs. He received periodic rebukes From Governor Sir Stafford Henry Northcote who complained that he had to report on land sales based on information gleaned from newspapers" (Redford 942). Smith was also said to have neglected the fur trade. William Joseph Christie, inspecting chief factor of the HBC reported to the London committee on the slack management of the company's affairs. Christie resigned his job when no action was taken on his information. Conversely, Jay Cooke first gained the attention of the banking industry when he marketed $3 million of Pennsylvania's bond issue. The state was in dire straits, it is indebted by $40 million. Cooke created a marketing strategy that made the bonds oversubscribe in less than a month. He sent agents all over the state and drafted circulars, pamphlets and posters emphasizing the patriotic need for the subscription of the issue. The proceeds of the bond issue were to be used as a necessary capital to win the war. Mr Cooke capitalized patriotism in selling the bonds.
It can also be observed that Smith was politically active. It is but understandable why it seems this way, after all any political/high organizational position entails power that may be used to prosper or obliterate a business. Through these connections he was able to meet new business partners, engage in another business venture and gain more money. "Smith began a political career representing Winnepig-St John in the Manitoba legislature 1870-1874 and Selkirk in the House of Commons 1871-78" (Farr). Whereas, Cooke served the government as Ohio's financial adviser and he also helped develop sound fiscal policies during the American Civil War.
In spite of Smith's hard work and achievements, a shadowy figure of him lurks ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Business History Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Business History Essay Example | Topics and Well Written Essays - 1250 words. Retrieved from
(Business History Essay Example | Topics and Well Written Essays - 1250 Words)
Business History Essay Example | Topics and Well Written Essays - 1250 Words.
“Business History Essay Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Business History Analysis of Globalization

...? BUSINESS HISTORY ANALYSIS OF GLOBALIZATION Introduction 3 Multinationals and Global Capitalism 3 Multinationals 4 Globalization of Markets 5 Historical Evolution of FDI 6 Pattern of FDI 6 The Role of Multinational Enterprises in Globalization 7 Impact on Host Countries 8 Case study of Globalization 8 Total Global Strategy 9 Conclusion 9 References 11 Introduction Globalization has become the buzz word in today’s world but what does it actually means and what does it imply? We have observed the evolution of the big national companies into multi nationals in the twentieth century with ever increasing boundaries for business and this trend of transcending national boundaries grew even...
8 Pages(2000 words)Essay

Do people benefit from using fantasy or illusion to deal with their problems If so : how

6 Pages(1500 words)Essay

Summary Memo

3 Pages(750 words)Essay

Questions for American Business History Questions

...against a power of at least doubtful utility, the abuse of which had been extensively felt; and to restrain the legislature in future from violating the right to property". The court's decision reaffirmed that the state could not intervene to void a contract, and this gave business and industry additional confidence in the agreements that they made concerning commerce, credit and economics. Today's court would make a similar finding, as long as the contract was in line with our current laws. References Marshall, J. (1819). The decision. Retrieved May 12, 2009, Mathias, P. (2001). The first industrial nation. New York: Routledge. Stearns, P. N. (1998). The...
2 Pages(500 words)Essay

Business History - coursework

...Business History 2009 Final work Assignment The limitations of mass production as implemented by Ford Motor Company in the production of the Model T. Henry Ford was the first person to introduce the conveyor belt in his factories. This led to the mass production of the Model T. One could be assembled in only 93 minutes. The limitations of mass production (in any industry, but particularly this one) include an increased use of capital and energy, automation increases costs, expensive machinery that make it necessary to assure that a profit is obtained, and a limited amount of mass customization (Jones and Zeitlan, 2010). 'Co-operative capitalism' in Germany. One way to look at co-operative capitalism...
5 Pages(1250 words)Essay

American Business History

...Introduction Business in America began from family owned farms. These were small and utilized the energy of all the family members. With the advent of industarlization around the eighteen centaury, business advanced a notch up and this improvement saw it being categorized as merchant trading. This was mainly dominated by men working in industries and other manufacturing factories. This is when differences in gender roles started evolving. Men would go out to work during the day while women were left at home to carry on with domestic activities. Professionalism ensued and caused the struggle to narrow down the social divide in terms of equality that was now prevailing against women. The expansion of this...
3 Pages(750 words)Essay

Business history do business with them, along with exorbitant tariffs that put off potential investors in the Chinese market. Unlike Japan who had embraced international trade china seemed more reluctant to do so, and this hesitation cost her greatly (Chandler 2004). Conclusion At times, when looking back in retrospective at the world’s history, we like to think of all that could have been done differently that could have saved a great deal of pain and suffering. For china, I feel strongly that if the cards could have been dealt differently, it would be another scenario altogether in this time and day. But I talk in retrospect. On the whole, china made an economic recovery though she still has to carry out social...
6 Pages(1500 words)Essay

Final Curriculum Design

16 Pages(4000 words)Essay

History of business

...experiments, which he labeled time studies or as time and motion studies. In these studies, he used a stopwatch to time a worker’s motions in order to determine the most effective way to carry out a job based on the way that took the least time. Q10. John Rockefeller He was an American businessman who founded the standard oil firm that led in America’s oil industry. He contributed a lot to the oil and petroleum industry. He operated the oil firm until 1870 when he retired. Andrew Carnegie He was a Scottish American businessman who contributed a lot the growth and expansion of the steel industry in the U.S during the 19th century. In addition, he was a renowned philanthropist in that he utilized his wealth to help society. Work...
1 Pages(250 words)Assignment

History of Business

...The History of Business al Affiliation Table of Contents Cover Page1 Table of Content2 Introduction3 History of Business3 IndustrialRevolution3 Laissez Faire4 Entrepreneurial era 4 Production era4 Marketing era4 Global era5 Internet era5 Elements That Affect Starbucks and Amazon 5 Social Responsibility Issues7 Environment7 Customers7 Employees7 Investors 8 Conclusion8 References9 The History of Business Introduction Business was more systematic after the period of industrial revolution. Industrial revolution refers to a period of transition from agricultural processes of farming methods to manufacturing mechanisms. The revolution began...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Business History for FREE!

Contact Us