ABSTRACT
This chapter examines Harold Bowden's managerial philosophy as the company struggled to respond to the depressed economic climate after 1920, and demonstrates how his personal leadership was central to business survival and success. Bowden's continued optimism in the cycle market was a key factor in Raleigh's survival and prosperity, but he also launched the company on a strategy of diversification into motorised transport after the war, a policy which was deemed essential given the problems in the bicycle market in the early 1920s. The chapter analyses Raleigh's business strategy in the inter-war years by examining the impact of the First World War on the company, and the problems of readjustment in the post-war inflationary boom to 1920. By the late 1930s Raleigh represented the state of the art in high-quality cycles and accessories. Consistent with the traditions of the company, the Raleigh was individually produced in the world's largest and best equipped cycle factory.
