| Summary |
America's entrepreneurs played a pivotal role in the first half of the twentieth century. Understanding their fascinating experiences that took place at a time of great growth and change lends insight into the larger story of American history. James V. Lobell was one of these entrepreneurs. He was an opportunistic entrepreneur who was one of the first American businessmen to sell shoe polish on a national scale to the shoe industry. Economist Joseph A. Schumpeter believed that the savvy businessman was the essential element in a healthy capitalist society. It was the entrepreneur who spotted change in his field of business and exploited it for profit. By doing this, Lobell achieved what business historian Alfred Chandler, Jr. called first mover status in the United States in an industry already teeming with competition by the early 1920s. Lobell invested his time and capital in the equipment needed to make a superior product; he then effectively marketed the product to consumers on a national level. His entrepreneurial efforts between 1913 and 1961 made Lobell a national figure in the footwear industry. Lobell was important in his field because he transformed the shoe polish industry from one dominated by small local manufacturers to an industry where his products extended to a national market. Through production of a quality product along with savvy marketing schemes, Lobell's development as a successful businessman saw him take advantage of great changes in the footwear industry. The Cavalier Shoe Polish Corporation's story is James Lobell's story. His life and exploits in the shoe polish business followed many larger and smaller trends in the history of American business. Through Lobell's entrepreneurial efforts to produce and sell shoe care products, he helped to develop shoe polish awareness in the shoe industry. Moreover, he made shoe polish an important item for consumers to buy and the shoe industry to sell in America and abroad. Lobell's opportunities, actions, environment, and challenges are examined in this thesis. |
