BA 3340 Lecture Notes - Lecture 99: Isaac Buchanan, Base Metal, Free Banking
Document Summary
Post-confederation century witnessed hbc"s transition from colonial fur trade enterprise to canadian retail chain. Tried scientific management theories to make business popular, but ended up having to metaphorically revert to fur trade roots in order to be successful. Lack of success can be attributed to attachment to new theories and innovations. Richard woodman burbage: consultant and director of hbc before wwi. In 1910, subcommittee on saleshops moved away from fur trade by creating a departmentalized structure. In 1911, a canadian advisory committee was appointed to supervise implementation of departmentalized strategy o. First stores carried mainly blankets and hardware (london still only saw trappers, loggers, and farmers in western canada. Lead to decentralized buying and disorganized pricing, individual trading margins, and unregulated customer credit. Sale, stepped in to reform hbc by introducing contemporary methods of department store sales: authority was divided amongst three experts in buying, selling, and accounting.
