History 2807F/G Lecture Notes - Lecture 1: La Nature, Richard Cantillon, Pasteurization
16 Oct 2017
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Understand society, economy, marketplace, competitiveness, resources, capital, individual. King gillette (1855 1932): a model entrepreneur. The human drift (1894: one big corporation instead of corporations competing against each other. Marketing strategy: e(cid:373)phasized produ(cid:272)ts" safety over its disposa(cid:271)ility, 1917-1(cid:1013)1(cid:1012), the a(cid:373). Govt (cid:271)e(cid:272)o(cid:373)es the a(cid:373)eri(cid:272)a(cid:374) afety razor co"s ulti(cid:373)ate customer: first world war, convenient razor for the troops, gillette used imagination, perseverance, and risk taking to develop a revolutionary product that took advantage of changing cultural norms. From to jl kraft & bros. co. 1928, a corporate merger with phoenix cheese co. Decades of innovative products and progressive marketing techniques stem from one. Irony of extended shelf life (lower price) entrepreneur insight. Entrepreneur takes responsibility for important investment decisions made under conditions of uncertainty. A mistake to prejudge where entrepreneurship most likely to be found. Can be found in firms of all sizes. Fir(cid:373)"s owner might be an entrepreneur, or might appoint a salaried manager to act entrepreneur.
