MGMT 1030 Lecture Notes - Lecture 2: Prkce
24 Sep 2015
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Article: success and failure in trade to new france by j. f. 58 bankruptcies occurred during 1660 1760; question is why did some merchant succeed, while others fail: e. g. Father, despite modest beginning, was prosperous in the trade. Son took over during prosperous years, and seemed successful (gave large dowry to daughter), but bankrupted 4 years later; bankrupted in 1745 crash affecting large investors circle. Theories for failure: decadence: jacques savary = failure because lavish spending on houses, servants, food, clothing, jean-matheiu mounier admitted frivolous spending as only minor cause of bankruptcy. High premium loans and costs during wartime stopped merchant trading, as risks too high. Travel risks: risks during peacetime; wrecks common on french/canadian costs (especially along. Close living quarters, meant rumours about merchants effects creditors belief of their wealth, character, ability to pay: merchants concealed their financial situation and business; wanted to appear successful.
