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Business Leadership : Hudson's Bay Company

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by

Emily D'Amico

on 3 October 2012

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Transcript of Business Leadership : Hudson's Bay Company

The Hudson's Bay Company Today We Will Be Learning About: 1 What Hudson Bay Is 2 Who Henry Hudson Is And The Main Focus For Today 3 The Hudson's Bay Company The Hudson Bay Second Largest Bay In The World 1 230 000 km2 James Bay Henry Hudson Discovered Hudson Bay in 1610 on his boat Discovery. English Explorer. His crew had a dispute against him and left him to die. Hudson Bay Company What Is This Company? An English fur trading company that also sold goods to natives in Canada Once owned 15% of all of North America One of the oldest companies in the world The Beginnning So how did this company start? Groseilliers left England June 5,1668 to explore possible trade in the Hudson Bay Learned from the Cree that Hudson Bay had a good supply of beaver Was founded by two explorers; Pierre-Esprit Radisson Médard des Groseilliers Founded their first fort; Fort Rupert, in 1668 History It's Official! On May 2,1670, England incorporated trading into Hudson Bay with a charter from Prince Charles II This charter gave HBC control over the Natives Trade which was called Rupert's Land. HBC is still in existance today but is probably known to you by reatil stores such as "The Bay" or "Zellers" The HBC went completely into retail in 1987 Why the HBC Is Important The HBC is important
to Canada because: Explored the wilderness of Canada Created a good relationship with Natives Sold Rupert's Land Created jobs Was the backbone of the early Canadian economy. HBC Let's Get Started! in the 17th century Based on the Corporate Social Responsibility Report of 2011 - Richard Baker, Governor & CEO says "We maintain a prominent position in the marketplace and 2011 has been a standout year; however, this does not permit us to stand still for long. Change is an integral component of growth and success and change greeted us early in the year." Social Responsibility "We have also seen tremendous examples of growth, tradition and commitment.Our support of Canadian Athletes continued with a contribution of more than $5 million dollars to the Canadian Olympic Foundation from the ongoing sale of the iconic Red Mittens." . Merchandise was plain and uninteresting. Store interiors were bland and dated. Time of Struggle: In the past couple of decades, The Bay appeared to be going downhill. And finding a salesperson
for assistance seemed
next to impossible. Making It Better Bonnie Brooks, President and CEO of The Bay since 2009 is taking The Bay more upscale in an effort to revive the company. How? She dropped 800 under performing
brands and added 200 new ones. Revenues are reportedly up. The Bay has 92 stores across Canada, making its 'transformation' extremely difficult and very expensive. But after the introduction of The Room, the luxury women's designer floor, 2010 sales spiked to about $170 million at the Queen Street store. A similar spike in sales is expected at the 650,000 square foot Vancouver Downtown Bay store after the fall 2011 Room introduction, which currently has sales of less than $120 million.
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