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Study guide for the final exam Contents: 1) Big business 2) Business and the State 3) Business and the State in the postwar period 4) Business of War 5) Regional Economics Postwar Period 6) Economics and Business in the Era of Neo-Conservatism 7) E

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University of Waterloo
HIST 113
Catherine Briggs

Big business What factors lead to the growth of Big business? - Transportation development: railroads & shipping - Scientific development (New technologies) o Refining and extracting mineral o Machinery larger-scale production - Infrastructure development: hydro electricity & phone service - Growth of Canada from sea to sea - New forms of corporate organization o Processing, manufacturing, marketing (starts to encompass everything) o resources extraction manufacturing o allow companies to compete on larger scale/in larger markets (more diversity) - New challenges New business practices o Introduction of the assembly line o Marketing and advertising techniques also developing o Divided into smaller group/divisions/departments o New form of management o Larger labor force o Human resources communication - Large integrated firms o Inventory and buying departments o in industries like Financial services Utilities Begin to amalgamate o Need to be done in a very large scale o Need large customer base to achieve efficiency Ex. Phone services Iron & Steel Wood Lots of businesses remained small - Not competitive enough (internationally) - Local manufacturing (protected by tariff) - Ex. Food management Revolution in retailing - Significant change in distribution and sale of goods o Larger stores kick out smaller stores dominate customer base work internationally o Large retailer Commands large markets Acts as wholesalers and manufacturers o Result: High volume (wide range of goods), low prices, cash payments o HBC becomes a retail giant What factors leads to revolution of retailing? - Growth of cities o Population growth & urbanization people are transformed from a producer to a consumer More materialistic buyers with more demand - Improvements in transportation & communication o Allow them to work in one (communicate between branches/divisions) Timothy Eaton - Irish, limited education, immigrated to Canada, store owners - Open stores in Toronto 1869 - Cash only o Not rely on credit/people trustworthy (try to draw more people not just Toronto) - Fixed prices o Increase the volume of goods and lower prices - Sales directed to working and upper classes o Increase customer base - 1870s: Begins buying directly from manufacturers (instead of going through wholesalers) - 1890s: Becomes a manufacture of its own product line o Painting & oil company o Drug o Farms (dairy products) - 1880s: moves to 190-196 Yonge street - 1884: Mail order service o Expands through Country o Idea of catalogue (huge innovation) access more customers - Drawing ideas from the trend in retailing o Sales/discounts and Guaranteed Refunds o Attractions, advertising, fashion shows o Departments within Stores o Management based on merit (even his children) - 1907: Branch stores: Winnipeg (introduced by Eatons son, Johnny) - Eatons always remained private - Decline of Eatons o 1970s: Over-Expansion Bad location/area Not enough customers (partnership with big malls in downtown) 1980s & 1990s: Competition and new trends in retail People going to the main store instead of going to the Eatons department stores Poor family management Bad decisions lost the market of the young generation Iron & Steel - Important industry for industrialization and manufacturing - Must be operated as a large industry o Required large production facilities (technology) o Huge cost to keep it running o High volume turnover o Large market/Large-scale - Obstacles to its development o Mining & transportation cost - Maritimes o 1840s/50s: trading (import & export) o 1880s: ship building collapsing (end of era of wind wood sail) o Late 1800s: beginning to industrialize (economic growth and more consumers) o Look to Iron & Steel o Find opportunities Coal fields and Iron Ore deposits Entrance point in industrialization for Maritimes None in Ontario and Quebec o First iron industry in Maritimes developed in Nova Scotia - Nova Scotia: o Trying to redirect itself into the industrialization era o NS Steel Co. / New Glasgow Iron, Coal and Railway Co. 1890s: Secure one supply from Bell Island & purchase coal properties on Cape Breton 1895: Merge into NS Steel Co. fully integrated complex primary & secondary levels of production o 1899: Dominant Iron & Steel The base of Canada steel industry all located in Nova Scotia - Ontario: o Late 1800s: Secondary iron (ex. nails) & steel works o Failed attempts: Primary Iron and Steel industry Lack of requisite technology Lack of skills to run (Need to build relationship with American iron & steel industry so as to gain skills) o 1899: Hamilton Steel & Iron Co. Ontario workers & manufactured secondary iron steel products Government support Nation policy: Lower tariff o intend to develop industrialization in Canada o no matter is investment from American o After 1920: Consolidation Big Three: Stelco, Besco, Algoma Iron & Steel Companies (dominant in Canada) Bescos most output secondary iron Stelco does the best important to Hamiltons development o Limitations to industry development Not diversified enough cannot grab the market The market is not big enough Huge transportation cost (Difficult to compete) Automotive - Foreign Ownership and Nature of Big Business - Ideas built early in Germany and France - But later American quickly dominates the world market, why?? o Goes beyond engineering (Not because of design features) o Innovations (ex. Henry Ford) Assembly line Increase production Decrease product costs Result: cheap enough for average people to buy Mass marketing Converting automobile into commercial /consumer goods convince more people to buy car (mass consumer product) Able to grab a large market mass production profitable 1900s: many small automobile firms (between Canada and America) 1930s: Canadian Automobile industry dominated and owned by American firms, why??
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