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- W2803745869 abstract "This new, company‐sponsored history of one of the world's most important chemical producers deserves the attention of all historians of modern German business. Its authors relied overwhelmingly on the BASF corporate archives, supplemented by an extensive reading of the secondary literature. They did not consult the archives of the companies with which BASF did business, notably Dow, Shell, and Bayer, to the detriment of their account. The only limitation on their research imposed by the company was the application of the usual thirty‐year rule. BASF management allowed the authors complete freedom in reaching their conclusions. The authors' approach highlights what one of them, Werner Abelshauser, terms the “social system of production.” It supersedes, though does not replace, Peter Hayes's history of IG Farben during the Nazi period. The book is divided into four sections defined in accordance with the company's development. The first covers the years 1865 to 1900 and was written by the German business historian Wolfgang von Hippel. It suffers from a stiff translation and provides an uncritical chronological account. Hippel describes the origins of the firm in the 1860s. Under its founder Curt Engelhorn, the company concentrated on earning quick returns. In traditional German business fashion, BASF entered into cartels to limit competition, relied on retained earnings to expand, and concealed profits in hidden reserves and in the depreciation account. This strategy relieved it of the necessity of using bank credit or issuing stock. In this early period, the company earned very substantial returns. In 1885, Engelhorn was ousted by the company's directors and was replaced by Heinrich von Brunck, who changed the firm's focus to developing technology, neglecting financial considerations. Symbolic of this approach was BASF's struggle between 1880 and 1894 to develop a viable production method for synthetic indigo. Ironically, it is unclear whether this business ever earned a profit." @default.
- W2803745869 created "2018-06-01" @default.
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- W2803745869 date "2005-10-01" @default.
- W2803745869 modified "2023-09-26" @default.
- W2803745869 title ":German History and Global Enterprise. BASF: The History of a Company." @default.
- W2803745869 doi "https://doi.org/10.1086/ahr.110.4.1271" @default.
- W2803745869 hasPublicationYear "2005" @default.
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