MGMT 1030 Lecture Notes - Lecture 6: Henry Melville Whitney, Subsistence Agriculture, Saint Lawrence River

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20 Jul 2016
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The Entrepreneur in Canadian Business History Notes
-We do not have a set model for entrepreneurial business, there is no set equation
saying if you do this and this you will get this.
-Different time periods produced many different types of entrepreneurs.
Pre Industrial period:
-people who were not involved in the fur trade (in New France) were farming
( subsistence agriculture).
-Seigneurial system: very managed strict system of allotting farmland along the St
Lawrence River to the people of France. (Look at the meneurial system from week
one similar to this seigneurial system)
-Entrepreneurial opportunities were not a thought at all in the New France’s static
backward society. Entrepreneurial activity was not common at all in this society.
-Only the people who had wealth and connections to the
ruling/government/political companies were the ones who had that mentality to
think in entrepreneurial terms ( the idea of bettering themselves) Cugnet was a
successful entrepreneur in New France.
-Cugnet was wealthy, however he did have the entrepreneur mindset to make
something of himself to try and diversify the economic situation in New France.
-He has the entrepreneurial spirit but not necessarily the entrepreneurial brain.
-Iron works is a very difficult industry, Cugnet goes bankrupt because of those
ventures that he went for. He gets an A for effort however because there was no
macroeconomic nor microeconomic support, entrepreneurial activity like this were
never successful. (no infrastructure support for these ventures)
-In France there was never a rags-to-riches story because these were people who
were already at the top.
First Industrial Revolution:
Main Events that improved Infrastructure
-The Railway (very large reason why Canada had a strong ‘background condition’)
*Samuel Zimmerman (rags to wishes story)-becomes the primary builder in Upper
Canada of railways
-He was a networker like no other
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