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involved in the business of selling diamonds as engagement gifts
to other college students. Following his formal schooling, Mr.
Schoenecker decided to join forces with Mr. MacDonald and, as a
result of their agreement, BI's predecessor was incorporated in
1950. In the early days of its operation BI sold various items
such as diamonds, dishes, and sporting goods, but it soon
developed and began the incentives promotion business.
Initially, BI's clients were merchants, service stations, banks,
and other businesses which were mostly local and relatively
small. Variations of these programs were the primary aspect of
BI's business until approximately 1970 when it began to expand
into the other areas discussed above. BI's business steadily
grew during the first 25 years of its existence. Sales grew from
approximately $313,000 in 1953 to $11,926,000 in 1974. The
aspects of BI's business, other than incentive awards, developed
by Mr. Schoenecker in 1979, were geared toward selling incentive
programs to large businesses. In 1990, BI had 19 sales offices
throughout the country. It had 80 sales employees, of whom 60
were account executives and 20 managers. The account executives
reported to field sales managers, who reported to one of three
area regional vice presidents, who reported to the senior vice
president of sales and marketing of BI, Mr. William Shaw (Mr.
Shaw).
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Last modified: May 25, 2011