...working at a bakery, saving what he could to work the fur circuits. It was through his motivation for wealth that he started his fur empire, but his managerial skills that let him maintain it. Many times Astor was thrown a curve ball and when it came at him he managed to hit a homerun. This is seen when Astor had to sell Astoria, his fur empire on the pacific coast, for a fraction of its worth to the British. It was through Astor’s managerial ability that he got congress to forbid foreign fur trading in the US. After doing this he bought out their interests and his monopoly was born. As for Astor’s ethics, they were towards money and not towards fair treatment. The US congress passed a law that the Indian’s were not to bet taken advantage of, Astor did not adhere to these rules but instead traded low price trinkets for high value furs making a 4,900 percent profit to which 99.9 percent of it went to himself. Another example of Astor’s lack of ethics is when he let the Indians use credit so that they would be in debt to him and they would not be able buy from any other sellers. Astor’s career shows that there is no relation between virtue and success, his lesson would have to be (don’t let virtue get in the way of success). This is the way he lived his life as a businessman, on many occasions he bribed federal officials in charge of enforcing fur trade laws. 2). In the 1830’s the consensus seems to be against the fur trade industry, I believe that Astor may have pushed to...
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...The American Fur Company was one of the most prosperous company establish in America. The company was started by John Jacob Astor an immigrant from Germany. His ambitions were immense and sometime overshadow his judgment, which lead to many questionable ethical decisions. Astor’s company was based on supplying fur product to consumer mainly in Europe where the fashion trend was all about fur. The company main source of resources were from Native American whom were expect at hunting and harvesting the fur from different animal specially beaver. Astor exploits the cultural differences of the native by trading simple western trinket for fur as well as alcohol. Alcohol however was prohibit which gave him advantage over the government fur trading business which he let trade freely during transaction which also lead to inebriated native as well as making some addicted to the product. All of this was to give him leverage and advantage in the trade, which create an ethical dilemma of breaking the law as well as taking advantage of cultural differences. Then native wasn’t the only one exploited, even his trader and trapper fared no better. He would mark up trade goods heavily before selling them to traders, which lead to many being in debt and mortgaging their trading post to him. Trapper worked unlimited hours and in harsh condition with little pay. He basically created a system that amplified his fortune by diminishing those whom are caught in its working. Fur was the big commodity...
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...Case Study: The American Fur Company 1. In terms of motives, managerial ability, and ethics, Astor can be viewed as a man with practically no resolve. His thought processes were extremely egotistical and had no morals. He was self roused by benefits to end up the biggest and just American Fur organization, owning 99.9% of the stock and making a special effort to squash rivals, hoarding the business. His administrative capacities were awesome, permitting him to grow and get hides basically for about nothing, making benefits on all parts of the work including transportation and wages. Morals this man did not have, making an organization on what seemed like morals promising to manage Indians genuinely and issue stocks to other, neither of which happened. Temperance and achievement have no relationship for Astor's situation. Astor had high achievement however poor or extremely humbler temperance. Indeed, even to the end of his life he contributed little to society. For Astor achievement was a temperance and disappointment was impossible. 2. In 1832, individuals trusted that the exchange of this product was what was bringing about the spread of cholera. This made individuals quit needing to exchange the product. At that point in 1837, the steamboat, conveyed smallpox up the Mississippi, murdering more than 17,000 individuals. Additionally, in the mid 1800s the pattern changed from hide to silk . The authentic strengths that embroiled these progressions were globalization...
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...only person that will have American Fur Company. Astor has a great managerial ability because he was expanding the business and controlling the market. But, Astor has no ethics because he did not do the promises of the deal. Astor has no virtue but has success in his story. The lesson learned is that even if you do not know anything about an industry you can learn it and you become the leader of that industry. 2- In 1832, cholera started to expand between people. People thought that cholera was coming from the trading of fur. 3- Economic: Fur has lightweight to be shipped and to be transported by different ways to the ports. So, it can be exported to the rest of the world. Natural: Because of the high demand of fur, the mountain life was destroyed. Legal: There was no problem because the government did not organize the trade process. Governmental: There was no problem with the government because Astor knows that they will accept alcohol. 4- I think the important stakeholders are the Indians. They were treated responsibly by the standards of that day, but not in the standards of today. 5- In my opinion, it has negative impact because the American Fur Company reduces the population of that kind of animal. 6- Yes, I think that American Fur Company changed the concept of monopolizing and capitalism. 7- Yes, I think business and society model apply to this case. Because the business is Astor’s company, he only cares about his...
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...The American Fur Company 1.) Astor’s motive was second to none, he came to America with virtually nothing, yet it did not stop him from becoming the richest man in America at one point. He was highly self-motivated, mainly by profits and power. His managerial ability was also great as he was able to expand his trade operations and profit off of every piece of the industry. This however, was very unethical. TO explain, he gained profits through charging his employees high costs on clothing and sugar, profits of 300-400 percent, and even diluted the whiskey he sold them with water (51). He also used alcohol in negotiations with the Indians after Congress had banned alcohol on Indian territories. If this story teaches anything about the relationship between virtue and success, it’s that they do not always go hand in hand. Astor had little to no virtues, yet was able to become highly successful in the world of business. 2.) The environment of the company changed in the 1830’s with the belief that Cholera was spread through the trade. This had a negative effect on the trade. Also, new silk hats that didn’t require fur in their production were also driving down the demand of furs. During this time Congress also passed a law that banned alcohol on the Indian territories, which many people in the industry used to barter with the natives. Historical forces that are implicated in these changes include inequality, globalization, chance and nation state. 3.) Impacts on society...
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...An Interesting look into John Jacob Astor and the American Fur Trade Upon winning the Revolutionary War Americans were filled with a compulsion to manifest their destiny. They were Gods chosen people after all. What could possibly come in the way of them achieving what was their God given right, their destiny? The fur trade draws its roots from early exploration in America. The fur trade was an entirely simple concept that relied on pillaging mother nature's resources to turn the dollar. The fur trade set the mold for the modern day American corporations. It was the first industry in U.S. history to receive a federal subsidy; which is a form of government assistance to help out with financial needs and accommodations (sounds kinda of familiar to thecompanies of today eh?). Fur trading has been going on for centuries, dating back to Jacques Cartier (an explorer from France who would go on to claim what is currently Canada for France) who set voyage through the Canadian wilderness almost five hundred years ago. This industry is a cornerstone in the American business realm, and also in pioneering the early Pacific North West. The company that managed to get set up first in the new west was an upstart business that went by the name of the Pacific Northwest Company. They were an early titan among American big business. Their founder was John Jacob Astor. "John Jacob Astor, the son of a farmer, was born in Waldorf, Germany in 1763. When he was sixteen he moved to London...
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...rich. His success started with vision in mind of having his own fur business. I think vision helps one to get successful if one follows his/her goal consistently and disciplinarily. He was a man full of traits like attention to details, determination and had a great foresight. After he married Sarah Todd, he opened his own musical instrument shop in mother-in-law’s house. Now we want to know why he opened musical instrument shop instead of Fur Company. He opened the musical instrument shop from the dowry’s money. And opening a fur company requires a huge investment. But it was the beginning of building capital and starting his career. Even though he opened the musical instrument shop, he was engaged in fur trading, he left the shop in order to travel to different places to establish the relationship with fur merchants (domestic and international) while Sarah was looking after the shop. By 1788, Astor was involved in fur trading with Montreal. There he bought furs and it got shipped to London and Rotterdam and finally to New York. Here a question may arise Why not ship fur directly to New York as it would save time? Because of the British Merchant Policy that it did not allow direct shipment from Montreal to New York. But this policy was lifted after the Jay’s Treaty. This allowed direct trade to Canada. At the same time, he was also involved in fur trade with Indians. He sold the Indian goods in return for furs. He was doing very well in his business. By 1800, he was worth...
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...Economic Impacts: The fur trade provided a great amount of money and richness to Astor and its company. It also created work agreements. Thus, it made a huge contribution to economic improvement in North America and supported employment and income for many people. Technological Impacts: Astor had new technological innovations to travel Missouri. First, he introduced the steamboat, Yellowstone, then keelboat Cultural Impacts: When Indians contacted Europeans, Indians got familiar with lots of new artifacts. Thus, Indian traders began to seek profits and gain money to have their own properties. Governmental Impacts: Astor bribed and suborned some politicians including a president. That shows that American political system was not well based and taking advantage over government was easy. Natural Impacts: The fur traders destroyed forests to trade posts and find fuel. They also, killed lots of animals. Legal Impacts: Because the fur traders bribed politicians they had the upper hand against government, competitors and people. Therefore, governments had some new laws and regulations. Internal Impacts: Astor dominated American Fur Company and considered nothing but himself and his company's revenue. 4. The most important stakeholders were Astor as an owner, employees, customers, suppliers and government. They were not treated responsibly at all. For example, Indian trappers were cheated, robbed and even killed. Also, the fur traders bribed politicians...
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...London, where he anglicized his name and learned English while working for his eldest brother George, manufacturing musical instruments.[8] He arrived in the United States in March 1784, just after the end of the Revolutionary War. His second brother Henry preceded him to New York, establishing a butcher shop with which Astor was initially involved. He traded furs with Native Americans and in the late 1780s started a fur goods shop in New York City. He also became the New York agent of his brother's musical instrument business.[9] Henry was also a horse racing enthusiast, and purchased a thoroughbred named Messenger, who had been brought from England to America in 1788. The horse became the founding sire of all Standardbred horses in the United States today. On September 19, 1785, Astor married Sarah Todd (1761–1834), the daughter of Scottish immigrant Adam Todd and Sarah Cox.[10][11] Although she brought him a dowry of only $300, she possessed a frugal mind and a business judgment that he declared better than that of most merchants, and she assisted him in the practical details of his business.[12] Fortune from fur trade[edit] Astor took advantage of the Jay Treaty between England and the United States in 1794, which...
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...has focused on some of the principles and strategies of starting up a Limousine services consisting of at least 25 employees. The owner of the company, Bradley Stonefield, has an idea of offering “First Class Transportation” with a company that will be called Landslide Limousine Service. Some of the details that need to be covered prior to opening the company must focus on the employment laws and compliance. When attempting to recruit the best talent for this business, the owner of the company is asking for guidance on details about some of the services that can be offered to employees such as benefit packages, health insurance, life insurance, and pay structure. The owner is also requesting for us to organize a plan to screen potential employees so that they are getting the highest qualified applicants for the company. Because this is a smaller- sized business, consisting of only 25 employees, the company will be able to band together with other organizations to build a purchasing coalition to negotiate lower purchasing agreements with insurance providers. To keep costs down for the company and offer more incentives for the employee and this is considered a key strategy for smaller and medium- sized businesses. The needs of Bradley Stonefield and his company will be different from that of the other two companies...
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...Sample Study All American City, America Sample Study Page i Table of Contents Page Executive Summary .......................................................................................................................1 Three Year Growth Pattern.......................................................................................................2 Trade Area Delineation.............................................................................................................3 Economy ...................................................................................................................................3 Road Changes ...........................................................................................................................5 Population/Demographics.........................................................................................................5 Competition ..............................................................................................................................8 Site Evaluation – Site 1000.....................................................................................................15 Analysis .........................................................................................................................................17 Assumptions ...........................................................................................................................17 Competitor Information & Evaluation.....
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...countries are suffering before the arrival of an American company in their backyard, that hideous suffering from poverty is out of sight for us in America. But as soon as the American company arrives to give the opportunity of taking what look like bad jobs to us, if they choose to, the somewhat lesser suffering of their poverty after taking the “bad job” seems like the fault of the American company for not making the jobs nicer. In fact the company has helped them, but we only see the suffering from poverty after, not the hideous suffering from worse poverty before. One factor that can make it easier to blame the American company for the suffering left after providing the job is that some of the corporate executives involved in setting up and running the new factory in a poor country may, in fact, be uncaring, unfeeling people (though I doubt this is true anywhere near as often as people suppose). But even if many of the corporate executives involved in setting up and running the new factory are uncaring, unfeeling people, it doesn’t change the fact that, by their actions of setting up and running the factory, they have made people’s lives better. They could have made people’s lives better still if they had taken a bigger fraction of their personal earnings and donated it to helping the poor than they actually did, but that is something that can be said for almost every American. One policy change that could increase what Americans do to help the desperately poor in other countries...
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...Higgins less fired unproductively workers, listening personal problem form subordinates, and basing promotion on seniority. Prescott want john Higgins to adapt American work customs in that company. Prescott believes American work customs is universally right and more effective than the Japanese works customs. Higgins need to use American system or value to present the American work customs. Besides that, Prescott can send John Higgins back to parent company in America. Higgins will slowly realize that his work custom is different with other workers and will change it to American work customs. Working environment in America will change Higgins work customs totally from Japanese customs to American customs. Japanese work custom will not suitable in the American company. Higgins will also realize that he make a mistakes in Japan because not using American work customs. We can see there are many different aspects between American and Japanese work customs. American work customs will be polish in Higgins when he works in America. Moreover, Prescott can find another person to replace john Higgins position as his executive assistant. This is one of the drastic actions to fire Higgins from weaver. This new person can be found in Weaver parent company and must be better than Higgins. Higgins can go to work with Japanese company and accept...
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...Martini Drive 1990 Hull S90 LM0 England 13 March 2013 PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Syed Muhammad Abbas Ali Press officer of Acme (0044) 25676949 syed_acme@press.com Acme brewery is the hope of Hull The city Hull is known for its many social problems and the town brewery is known for its lack of order fulfilments. That’s why the new owners of Acme are going to improve the city. HULL, MARCH 2013 --- The people of Hull are celebrating, because of the rapid expansion of the Acme brewery. The city has gotten a new voice since the American company US Beverages bought Acme. It is the new owners hope, that the company’s products will go overseas to other markets. The company has moved its premises, from a docks area to a greenfield site. This makes it possible for the company to expand its limits. There are also more job opportunities than before, which will benefit the people of Hull. There used to be a lot of social problems in the city and people had no control over their lives. Therefore the Mayor decided to sell the brewery in hope of it becoming Hull’s rescue. The Mayor of Hull says: “ If the city had continued like this, people would have moved to other places. But because of US Beverages, who made Acme a bigger name than it was a year ago, we have a future. The people will have more opportunities and these will help our city in the long run. This is all possible because of the new Acme brewery.” ---------------------------------------------...
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...Example on Notes receivable Assume that ABC Corp. sold computers to XYZ Co. for $ 60,000 and receives in exchange a three year, $ 60,000 note bearing interest at 8% annually. Required: Record the entries needed in ABC Corp. For receipt of note and recognition of interest revenue each year assuming the following independent cases: Case 1: If the market interest rate for a note of similar risk is 8% Case 2: If the market interest rate for a note of similar risk is 10 % Case 3: If the Note is Zero interest bearing note and the market interest rate is 11 %. Case 1: Notes Receivable | 60,000 | | Revenue | | 60,000 | (60,000 x 8%) = 4,800 Cash | 4,800 | | Interest Revenue | | 4,800 | Case 2: N= 3I= 10%60,000 | NR | 57,016 | | Revenue | | 57,016 | Year 1 Cash | 4,800 | | NR | 902 | | Interest Revenue | | 5,702 | Year 2 Cash | 4,800 | | NR | 991 | | Interest Revenue | | 5,791 | Year 3 Cash | 4,800 | | NR | 1090 | | Interest Revenue | | 5,890 | Face Value1: 60,000 Present value of: Principal: 60,000 x 0.75132 = 45,079 Interest: 4,800 x 2.48685 = 11,937 PV= 57,016 Discount = 60,000 – 57,016 = 2984 | Cash Received | Interest Revenue | Discount Amortized | Total Amount of NR | PV= 57,016 | Year 1 | 4,800 | 57,016 x 10%= 5,702 | 5,702-4,800= 902 | 57,016 + 902= 57,918 | | Year 2 | 4,800 | 57,918 x 10%= 5,791 | 5,791-4,800 = 991 | 57,918+991= 58,909 | | Year 3 | 4,800 | 58,909 x 10%=5890 | 5...
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