An Enterpreneur Sir Reginal Myles Ansett KBE

'Woolworths' the effect had been a major loss of market shared in NSW, near-zero profits and a collapsing firm value.
'woolworths' was taken over and paul Simon recruited to the position of executive chairman. Simon observed that no australian supermaket chain was doing a particularly good job of fresh food marketing. The margins on fresh produce are good and the customer appeal considerable, but all the Australian retailers had become used to handling packaged goods with a shelf life of weeks or months and tended to treat the produce section in much teh same way. Simons relaunched Woolworth as 'the fresh food people' he appears to have decided that the various issues were so urgent that he did not wait untill the computer system had been modified to cope with the demands of fresh food but trusted the staff to clear away any stock that was less that perfectly fresh. Neither of 'Wollworth' main competitors had a strong reputation for their fresh produce at that time that Woolworth' relaunched it self. Franklins had problems with selling space and Coles were suffering from serious management problems which led to their stores paying premium prices for compost-grade produce.
At the time Simon was appointed at Woolworth their market shared was 21 per cent and falling and their shares were worth little more than the paper that they were printed on. When Simon stood down as cheif executive seven years later, 'Woolworths' market shared had passed 29 per cent, the company had been successfully floated for a billion dollars and the new shareholders were sitting on a substantial capital gain. Woolworth market share continued to grow, passing 31 per cent in 1995. Simon demonstrated that enterpreneurial success is still possible in very mature market.

CHECKPOINT

An enterpreneurial concept can only succeed in a window of opportunity, or more properly, when a series of windows coincide. The enterpreneur must be able to access an appropriate level of technology and market must be capable of absorbing a sufficient quantity of product. These two factors are not entirely independent, the market's capacity to absorb product will be affected by the price, which will in run be affected by the state of the available technology.
There are many historical examples of ventures failing because the market was not ready for their product, there are many other examples of the market willingly accepting a new prodcut only to reject it when the technological limitations became apparernt. Even when the technology works and the market wants it, there may be social or physical barriers to its widespred adoption. Excellent technology may fail in the market if the older technology it must compete with ha ssufficient remaining development potential and a well established position in the market
Above all, invention is not innovation.Just because something can be made does not mean that prepred to pay for it.



Sir Reginald Myles Ansett KBE
Seizing The Time

R. M. Ansett was born in 1909 in northern Victoria. His father ran a small bicycle epair business untill he enlisted in the First AIF for service in France. On his return from the war, Ansett’s father used his resettlement bonus to buy a small knitting mill in Melbourne and R. M. Ansett left school at 14 and became an apprentice mechanic in the factory. The factory was relocated to seymour, where it was to continue to trade as Ansett Knitting Millis until 1992, but the young R. M. Ansett decided to do some relocating of his own and spent some years working in the Northern Territory as an axeman and general labourer. The approach of the Great Depression of 1929 reduce opportunities in the Northern Terriory and R. M. Ansett returned to victoria, to Hamilton rather than Seymour close to his family, but not too close. Ansett liked machinery at least as well as he liked people and had a particular facination with aircarft and flying. Money that other young men might have spent in other ways went towards flying lessons and in 1929 he gained a civil pilots’s lincence.
Victoria, in 1930 had one of the most extensive railway system, whether meansured per head or per hectare, in the developmed world . The system had largely been built and was wholly owned and operated, by the estate goverment. Successive Victorian governments had seen the railways as a tool of government , policy, opening up yhe country to agriculture and the country towns to decentralised industry. Moat of Victoria’s rural population, whether small ‘cockatoo’ farmers or rural labourers, were poor and even a weekly slow train was a better way to travel than walking. Western Victoria includes some of the world’s best sheep raising country and the graizers, or’squatter’, were often men of very great wealth and by no means contented with their passenger transport arrangements.
Ansett had some money in his pocket from his work in the Northern Territory and laid out of £50 to buy a secondhand studebaker car. He then offered a hybrid taxi/ bus service, based on Hamilton, taking graziers and other affluent men and their families between their homes and the main railway centers of Hamilton and Ballarat. The Victorian governmen, in which R.G. Menzies was Attorney-General, gave its self extensive powers to regulate road transport in 1931, but held back from using them for a while. Ansett’s business grew and he bought more vehicles engaged more drivers and opened a maintenance workshop in Hamilton.
In 1935 Ansett extended his services through Ballarat to Melbourne, parallelling one of the railway system’ busiest and most lucrative passenger routes and the government acted to preserve this revenue, effectively banning the operation of private buses or taxis between Melbourne and Ballarat.
The government may have hoped that Ansett would be forced back into running rural feeder services to the raain railway junction even in the 1930s the government was looking for ways to reduce the losses on branch line passenger service whithout antagonisis electors by cutting the public transport service entirely. Ansett dusted off his pilot’s licence spent most of his business’s cash on an aeroplane paying £1000 for the aircraft and £250 for a spare engine and began an air service between Hamilton and Essendon a Northern suburb of Melbourne.
Ansett’s network expanded after a successful stock market float in 1936 enable him to buy three twin engine, ten passenger. Lockheed 10B aircraft and by the outbreak of the second World War Ansett service were linking Narrandera, Mildura and Broken Hill to Sydney, Melbourne and Aldaide.
When the war ended, Ansett owned world class airframe, engine and instrument maintance and testing facillities, but no aircraf and no route licences. The first post war prime Minister was Ben Chifley, a former engine driver on the NSW government railways and no admirer of laissez faire.
The Chifley government bought out the private shareholders in Qantas, Australia’s overseas airline and when the Holyman family refused to sell Australia National Airways (ANA), Australia ‘s major domestic airline the government started Trans Australia Airways (TAA, later AA and now part of Qantas).
After the 1949 elections the Menzies Liberal government replaced Chifley and Ansett approached Menzies, offering to buy TAA and free the government from the taint of socialism. When TAA and ANA had upgrade while ANA chose un pressurised Douglas DC4 ‘Skymaster’ aircraft. ANA compounded this error in the mid 1950s by buying Douglas DC6 aircraft while TAA bought the smaller but faster and more comfotable Vickers Viscounts. ANA suffered steady loss of market share on thee main coast routes and by 1957gwas insolvent.
Ansett remarked to his friends F. W. Haig that he would like to replace ANA as the official non government carrier under the two airlane policy but the raising the capital needed looked like a problem.
Haig worked at the time for Vacuum Oil Co, which was a major unsecured creditor of ANA’s. He persuaded his management to put up £500,000 in cash and the same amount in fuel credit and then persuaded Shell Oil Co, to do the same. Haig then rang Ansett promptly bid for ANA, offering the whole £1000,000 as a down payment and eventually agreeing to two further payments of £ 1,250,000 and £ 1,050,000 over the next two year.
Menzies agreed to revise the two airline agreement and act, and oredered TAA to agree to lease three of their precious Viscounts to ANA, soon to become ansett ANA and to lease two of ANA’s unwanted DC6s in return. The two airlines were from then forward legally bound to consult each other on fleet selection an arrangement that was formalised into a common fleet purchasing policy between 1960 and 1977.
In the years following his capture of ANA, Ansett moved vigorously to prevent any other regional operators from following his examples, buying butler Airlines (now Ansett NSW)in fiercely contested takeover in 1958 and mopping up most of the rest in the following few years, when the government decide to make additional TV channels available in 1964 In 1969 Mr R. M. Ansett became Sir Reginald. He continued to buy up regional airlines. Ansett himself was ambused in 1979, when a joint bid from TNT and News Limited succeeded to retain 0.5 per cent of common shares during his lifetime. He died in 1982 an essentially private man, but Ansett Airlines continued to thrive in 1995 TNT ‘s half share in the airline was sold to Air New Zealand for $450 million. Ansett’s original £50 had grow at an average annual rate of over 28 per cent, trough good time and bad, war and peace for over sixy years


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