MGMT 1030 Lecture Notes - Lecture 2: Caravel, Grand Banks Of Newfoundland, Jacob Corneliszoon Van Neck
24 Sep 2015
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Document Summary
World demand for spices, porcelain, silk; trade conducted along silk road into venice: route dominated by italians and later arab, turkish intermediaries. John cabot"s voyages sought easy route to china by going west; while in newfoundland runs into grand. Banks and rivers full of cod that he brings back to europe: when he returns to europe, tells stories of cipengo island where all spices/gold is from. Britain gave cabot ships and money to go find cipengo; turns back when his son"s ship is damaged and is never heard from again. Dutch east india company (known as voc) and british east india company. Other countries used companies to try to control trade with monopoly protection. Company set up for duration for voyage and liquidated when fleet retuned; high-risk venture because of piracy, disease, shipwreck, unstable prices: risk managed by forming cartel to control supply; first established by english east india company (1600)
