Brief Introduction of - 1. Brief Introduction of who...

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Unformatted text preview: 1. Brief Introduction of who founded and why--set the context for the initial success and subsequent failure. Lehman Brothers was started in 1844 by Henry Lehman upon his settlement in Montgomery, Alabama from Bavaria. In the 1850’s the value of cotton in the southern United States was enormous, therefore Henry Lehman and his brothers created a store where customers could exchange cotton for merchandise in the store. In 1858 the center for this cotton trade had moved from the South to New York City, requiring the brothers to move as well. They opened their globally recognized New York location later that same year. 2. The company's original purpose and its positioning against competitors (identify : Industry, Target Market, Competitors). The company’s main initial purpose was to provide a means for customers to purchase merchandise through the use of cotton, thus elevating cotton to a form of currency. As the value of cotton began to take off, Lehman Brothers found its business increasing rapidly...
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This note was uploaded on 02/25/2010 for the course ENTR 00200 taught by Professor ... during the Spring '10 term at Purdue University Calumet.

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Brief Introduction of - 1. Brief Introduction of who...

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