Quiz 2: The Dynamic Environment
The person Astor, a German immigrant, founded the AFT Company in 1808. The story of the AFT Company backed the American dream of anything is possible with sheer hard work. It revealed the story of an ambitious German immigrant who arrived in America poverty-stricken and built an enterprise that dealt with the fur trade. At that time, fur was already an established business that colonial rulers engaged in after establishing contacts with the Indians. Getting familiarized with the advantages of the fur trade and acquiring the skills to assess and manage fur skins from a fur trader on his journey to the U.S., the person A built a giant fur company gradually. Astor illustrated excellent bargaining abilities in selling gadgets for furs. He purchased trade assets in massive numbers to reduce the expense, and his assistants spent for fur in exchange for trinkets. Also, he conceded liquor to move without obstruction during trade agreements, building an edge the state cannot arrive. The government lacked his agility and dedication; he surpassed his competitors. In less than 10 years, he became the second wealthiest person in the U.S. With the state L purchase, personality Jefferson formed the L and C team to examine the appropriateness of state L for the fur trade. The expedition became an impetus for fur trading since fur trade in the NW territory was already befalling. To obtain the charter rights for trading in this area from the state legislatures, he requested the legislature of state NY to assign the charter. In addition, he was plotting to establish an independent kingdom called A, where he would be the King. However, his strategy failed since he had to sell it off to the British during the war of 1812. He was involved in continuous lobbying with the members of the congress, washed out his adversaries, exploited the gullible natives by affording alcohol( which was outlawed by the government) in exchange for furs, and vice versa. Assessing the way he handled his business and treated his employees and Indians, it can be stated that Astor was a ruthless and selfish person whose sole interest is profit generation. He neglected the interests of his workers and exploited the Indians to a great extent, wiped out all his competitors, which indicated that his tactics were unethical and prudent. In terms of managerial ability, he was an abled person with accurate knowledge about his business, a perfect sense of time and perception, and showed competency and alertness. A successful and decent businessperson would demonstrate qualities such as having good morals, showing competency, alertness, concern about the workers, and a perfect sense of time and perception. However, the career trajectory of Astor revealed that he was an unethical person with limited or no concern for others. His shrewdness and conniving tactics cannot be deemed as good qualities. One can infer from his career that virtue and success go hand in hand. Ignoring the interests of the workers or suppliers is a huge blunder. His exploitative tactics and lack of making any positive contribution to society was widely criticized.
The case discussed here is about an individual A who came from country G to country A. Here, he started fur trading business with the help of natives and then how with the help of his smart, and shrewd decisions, he became the most powerful and rich person in the country. The motive of A was very clear which was to make money. He was very successful in achieving that motive as he became the richest person in the country. The fur industry in itself changed a lot in 1830's. The demand of beaver hats was declining because they were getting out of fashion and silk hats were then in demand. The technology of pelts used inside the hats was also changing. There was cholera epidemic covering most of the world in 1832 and it was believed that transportation of fur was responsible for spread of this disease. The resource i.e. beaver population was also in danger because of over tapping and no efforts were made to conserve the population. Smallpox killed a very large population of natives who were the real source of beaver supply. This case proves existence of historical powers which bring change in any era. One of the forces was of disease and epidemic which have wiped out civilizations in history and here changed an industry. Another historical power is technology which has power to disrupt any current business. Production of silk and better pelts have improved the technology and reduced the demand of beaver hats and pelts.
The case discussed here is about an individual A who came from country G to country A. Here, he started fur trading business with the help of natives and then how with the help of his smart, and shrewd decisions, he became the most powerful and rich person in the country. The affect of fur trade on the major aspects of society, with respect to business environment are as follows: • Economic: At the time of 1800, the fur trade was one of the most important and successful trade. It helped in providing clothing in cold regions. It had been the biggest tools for trading for natives as they had beavers in abundance and could get things which were not available with them. • Cultural: The fur trade was affecting the native culture also. Natives has started drinking alcohol which was offered to them by traders. The cultures of the natives started mixing with other natives or urban areas because of constant interaction between them. • Technological: Though fur trade did not show much of technological development, but there is an evidence in case which tells that company A developed a ship which moved many times faster than any ship in the region. • Natural: The effect of fur trade on nature was devastating. The population of beavers depleted because of over tapping. • Governmental: The fur industry was having strong influence over the government and there are instances when owner of fur industry had granted large amount to big politicians. • Legal: When government of the country was strongly influenced by fur industry, then the laws were also mostly in favor of fur industry. If any law was not supportive then fur industry managed to change the law in some time. There was also disregard of law shown when natives were distributed alcohol. • Internal: There was a very strong competition within the industry which showed modern managerial activities like merger, acquisition, predatory pricing, etc.