This book is an in-depth case study of the Furness Withy and Co Shipping Group, which operated both tramp and liner services and was one of the five major British shipping groups of the early twentieth century. It demonstrates how British shipowners of this period generated success by exploring Christopher Furness’ career in relation to the social, political, and cultural currents during a time of tremendous shipping growth in Britain and the establishment of some of the largest shipping firms in the world. It approaches the study from three angles. The first analyses how the Furness Group expanded its shipping activities and became involved with the industrial sector. The second illustrates the organisational and financial structure of the enterprise. Finally, the Group’s leadership and entrepreneurship is scrutinised and placed within the wider context of twentieth century British business. The case study begins in 1870, with an introduction explaining how Christopher Furness came to join the family company, Thomas Furness and Co. in order develop services, expand, and instigate the changes and mergers that brought the Furness Group into existence. There are thirteen chronologically presented chapters, a bibliography, and seven appendices of data including an ownership timeline, tonnage statistics, acquisitions, a list of maritime associates, and a timeline of Christopher Furness’ life. The book concludes in 1919 with the de-merging of the Furness Group’s shipping and industrial holdings, the resignation of the Furness family from the company’s board, the sale of their shares, and the move into managing the firm’s industrial interests.
Using a series of twelve historical case-studies that are based on extensive archival research, this book explains why firms succeed or fail in communicating or transferring knowledge and discovering new expertise. By analysing how workable trade-offs between opposing forces have been achieved in the past, this study provides a set of guidelines for executives who embark upon inter-firm projects.
Celebrated in the novels of Joseph Conrad and vintage films, tramp ships - the precursor of bulk carriers - are not well understood today. Yet, these vessels transported in bulk essential minerals and ores, grains, timber, and other commodities and played a vital role in creating the modern global economy. While the histories of some individual tramp firms have been written, this book uses personal correspondence and surviving company records to chart the development of the entire industry - the largest in the world- during a period of transformational technical change. Who were the bold, risk-takers who founded tramp firms? How did they mobilise the resources needed to enter this dynamic sector, build immense companies, and accumulate vast fortunes? Why did others fail? This study reveals how executives learned ‘the art’ of managing tramps and developed strategic networking skills. Tramp shipping resonates with many of today’s high-growth industries: it was an information intensive, high stress operation that required rapid - sometimes instinctive - decision-making within a turbulent market. Building business networks was supported by a distinctive culture that streamlined communication. This innovative study places information, knowledge, learning, culture, and communication at the centre of the analysis in order to transport readers into the minds of those fascinating entrepreneurs who helped build the modern world.
Celebrated in the novels of Joseph Conrad and vintage films, tramp ships - the precursor of bulk carriers - are not well understood today. Yet, these vessels transported in bulk essential minerals and ores, grains, timber, and other commodities and played a vital role in creating the modern global economy. While the histories of some individual tramp firms have been written, this book uses personal correspondence and surviving company records to chart the development of the entire industry - the largest in the world- during a period of transformational technical change. Who were the bold, risk-takers who founded tramp firms? How did they mobilise the resources needed to enter this dynamic sector, build immense companies, and accumulate vast fortunes? Why did others fail? This study reveals how executives learned ‘the art’ of managing tramps and developed strategic networking skills. Tramp shipping resonates with many of today’s high-growth industries: it was an information intensive, high stress operation that required rapid - sometimes instinctive - decision-making within a turbulent market. Building business networks was supported by a distinctive culture that streamlined communication. This innovative study places information, knowledge, learning, culture, and communication at the centre of the analysis in order to transport readers into the minds of those fascinating entrepreneurs who helped build the modern world.
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