Product Description
by Larry MacDonald (Author)
The story of the company that was founded by the inventor of the snowmobile
In 1942, Joseph-Armand Bombardier invented the snowmobile and founded his company to manufacture them. From its humble beginnings as an entrepreneurial company in rural Quebec, led by an enterprising inventor, Bombardier Inc. has emerged as a global leader in the transportation industry. This book tells the fascinating tale of this remarkably well managed company that has enjoyed spectacular growth in its chosen markets through strong leadership and management strategy, succession planning, strategic diversification, and turnaround and acquisition artistry.
- The fascinating story of the world's largest rail manufacturer for both railway and subway
- Reveals why Bombardier Inc. is a multi-faceted global company yet nobody knows their name
- Written by Larry MacDonald the author of Nortel Network
The Bombardier Story shows how invention and entrepreneurship, management and leadership, smooth succession planning, and turnaround and acquisition built this global powerhouse.
Front Jacket
The Bombardier Story tells the fascinating tale of inspiring entrepreneurship, outstanding leadership and management, and a company riding the ups and downs of an eight-decade journey to the top.
In the early 1970s, the Ski-Doo snowmobile accounted for over 90 percent of Bombardier's revenue (one model was so popular that Canada Post even produced a commemorative stamp). But the rest of the 1970s were stormy times for Bombardier as rising energy prices, a maturing snowmobile market, and major economic forces sent the entire industry into a downward spiral. The Bombardier Story describes how close to ruin the company came, and how it survived.
This near-collapse ensured that the company would never again depend so heavily on one sector. Diversification became a key strategy and led to a move into the manufacture of rail equipment, even as most other North American firms in the industry were withering away in what was deemed to be a declining industry. The Bombardier Story recounts the decisive turning point--the $1 billion "deal of the century" in 1982 to provide over 800 subway cars to the city of New York. It was the breakthrough that launched Bombardier into the big leagues, but it was hard won, arousing the first of many controversies over government assistance.
Next came the diversification into aircraft manufacturing. A key ingredient in the upward climb was the "bet-the-company" decision to develop the Canadair regional jet, a pioneering aircraft that many industry analysts at the time thought was a foolhardy initiative. Bombardier not only proved them wrong, but revolutionized the air travel industry with this new jet.
The Bombardier Story is one of inspiring entrepreneurship, as well as outstanding leadership and management. The company has enjoyed phenomenal growth in its chosen markets through product innovation, strategic diversification, exemplary succession planning, and an amazing knack for acquiring ailing companies and making turnaround successes of them.
A fascinating cast of dedicated leaders has guided the company over the years. First, of course, was Joseph-Armand Bombardier, the passionate inventor-industrialist who turned a humble garage into a major manufacturing company, and his invention, the Ski-Doo snowmobile, into a household name. Then came the son-in-law, Laurent Beaudoin, whose career plan never included joining the family business, and who led the company for forty-five years, putting it on a fast-growth trajectory.
Beaudoin steered the company through the golden age of snowmobiles, the 1973 oil crisis, challenges from aggressive competitors, and moments of uncertainty. And, most notably, he led the company to achieve an extraordinarily ambitious plan for diversification. Along the way he was assisted by able lieutenants, including Raymond Royer and Robert Brown. Laurent Beaudoin and his team were able to show the world that a Quebec company can become a globally respected multinational, can be successfully passed down from generation to generation, and can achieve true sustainability.
Today, in the CSeries era, there is a new generation of leadership under CEO Pierre Beaudoin, Laurent's son, who oversees a multinational corporation of two major groups, with $17.7 billion in annual revenues in 2011, over 65,400 employees, and where the entrepreneurial spirit on which the company was founded still thrives.
Back Jacket
In the early 1970s, the Ski-Doo snowmobile accounted for over 90 percent of Bombardier's revenue (one model was so popular that Canada Post even produced a commemorative stamp). But the rest of the 1970s were stormy times for Bombardier as rising energy prices, a maturing snowmobile market, and major economic forces sent the entire industry into a downward spiral. The Bombardier Story describes how close to ruin the company came, and how it survived.
This near-collapse ensured that the company would never again depend so heavily on one sector. Diversification became a key strategy and led to a move into the manufacture of rail equipment, even as most other North American firms in the industry were withering away in what was deemed to be a declining industry. The Bombardier Story recounts the decisive turning point--the $1 billion "deal of the century" in 1982 to provide over 800 subway cars to the city of New York. It was the breakthrough that launched Bombardier into the big leagues, but it was hard won, arousing the first of many controversies over government assistance.
Next came the diversification into aircraft manufacturing. A key ingredient in the upward climb was the "bet-the-company" decision to develop the Canadair regional jet, a pioneering aircraft that many industry analysts at the time thought was a foolhardy initiative. Bombardier not only proved them wrong, but revolutionized the air travel industry with this new jet.
The Bombardier Story is one of inspiring entrepreneurship, as well as outstanding leadership and management. The company has enjoyed phenomenal growth in its chosen markets through product innovation, strategic diversification, exemplary succession planning, and an amazing knack for acquiring ailing companies and making turnaround successes of them.
A fascinating cast of dedicated leaders has guided the company over the years. First, of course, was Joseph-Armand Bombardier, the passionate inventor-industrialist who turned a humble garage into a major manufacturing company, and his invention, the Ski-Doo snowmobile, into a household name. Then came the son-in-law, Laurent Beaudoin, whose career plan never included joining the family business, and who led the company for forty-five years, putting it on a fast-growth trajectory.
Beaudoin steered the company through the golden age of snowmobiles, the 1973 oil crisis, challenges from aggressive competitors, and moments of uncertainty. And, most notably, he led the company to achieve an extraordinarily ambitious plan for diversification. Along the way he was assisted by able lieutenants, including Raymond Royer and Robert Brown. Laurent Beaudoin and his team were able to show the world that a Quebec company can become a globally respected multinational, can be successfully passed down from generation to generation, and can achieve true sustainability.
Today, in the CSeries era, there is a new generation of leadership under CEO Pierre Beaudoin, Laurent's son, who oversees a multinational corporation of two major groups, with $17.7 billion in annual revenues in 2011, over 65,400 employees, and where the entrepreneurial spirit on which the company was founded still thrives.
Author Biography
Larry MacDonald is a business journalist who writes for The Globe and Mail, Canadian Business, MoneySense and other publications. He is also the author of two other books, Outperforming the Market (ECW Press, 1998) and Nortel Networks (John Wiley & Sons, 2000).
