This article focuses on the nineteenth-century fertilizer manufacturer the Pacific Guano Company, and seeks to understand how it adapted its production in response to the collapse of the Maine menhaden fishery in 1879. This collapse devastated the national market for fish scrap, the firm’s primary input. The company managed to maintain relatively consistent fertilizer output throughout this period of uncertainty by embracing new materials and by actively seeking more stable sources of these novel ingredients. Outwardly, the company gave no indications that it was dealing with supply chain disruption, even though it was, at the same time, rapidly rewriting the recipes for its core products. This disconnect demonstrates how generic categories of nature can help a firm adapt to a crisis and how an environmental change as significant as a fishery collapse can be hidden from the public.

The repeated proliferation of restraints to competition should not overshadow the agency of downstream firms when confronted with the ability of cartels to challenge the established innovation strategies of their consumers. This article explores the relations between Renault and the aluminium cartels during the first half of the twentieth century, in peace and war. Strategies were similar on both sides: the creation and maintenance of a balance of power, compromise, and the reopening of competition. Yet, when the cartel set up an automotive department and then rallied to the idea of a people’s car, it attracted the interest of broader stakeholders—engineers, other suppliers, the government, and even trade unions—but failed to persuade carmakers. Large industrial consumers can limit the impact of cartels, and destabilize them, by resorting to vertical integration. However, their underlying aim is not necessarily to destroy the cartel but rather to obtain better terms for their own business. Ultimately, their market power enables them to achieve relative stability. Who derives the main benefits from these compromises, both vertically and horizontally, as they sometimes limit or extend the scope of action of both parties?

This article offers a new interpretation of the coming of state ownership in aluminium-related big businesses in Norway. It shows that the Norwegian aluminium business of the late 1930s and the 1940s was undertaken by a Scandinavian business elite fully capable of filling capital requirements after the war. This elite had, however, entangled itself in the German war effort in Norway mainly by supporting the building of new aluminium plants under the German occupiers’ control. This left it morally vulnerable to the increasing emphasis during the war on aluminium as a strategic metal. The Allied war effort—especially evident in US attitudes—had come to see the cartelized aluminium industry of the 1930s as working against the national interest by impacting national production capacity in a negative way. The Allies bombed the major new plant in Norway in 1943, and after the war the US acted restrictively toward Norwegian capital assets in the US. By pursuing ownership after 1945, the Norwegian state performed strategic ownership roles in large corporations, thereby also protecting these entities from the possible wrath of the US against private owners.

International trade in strategic materials was critical to Allied victory in the Second World War, yet little is known about how that trade functioned in practice. This paper studies wartime imports of Chilean nitrate, which enabled the United States to increase food production without sacrificing munitions output. The US imported nitrate and other resources through a public purchase program that depended on the coordination and cooperation of a vast bureaucracy. Government agencies weighed the benefits and costs of Chilean nitrate differently and intervened at key junctures. For their part, Chilean corporate and diplomatic staff worked meeting rooms in Washington, negotiating the purchase contracts and managing day-to-day business with the US government. Chilean actors meanwhile pursued their own interests while contributing to the Allied victory. The business history of the US–Chilean nitrate trade demonstrates how Chile, sometimes mischaracterized as a disinterested neutral on the fringes of the conflict, played an important role during the Second World War.

During the last three decades of the twentieth century, John Labatt Ltd., one of Canada’s oldest and most successful breweries, attempted to gain a share of the British beer market. This article examines the push and pull factors of why foreign brewers like Labatt decided to enter the competitive British marketplace and analyzes the strategies of the winners and losers of the “lager war.” The article pays attention to the branding efforts of marketing managers and how some used product–place associations to imbue their brands with authenticity. While positive country images often lead to a favorable assessment of the products from that country, it is also true that unfavorable perceptions often foster negative assessments of their products. By examining the entrepreneurship and structural barriers of the beer industry in the United Kingdom toward the end of the twentieth century, the article adds to our understanding of the dynamics of business failure.