EXAMPLE: Customers would receive a toy for every purchase.
DEFINITION: "Things that are not necessary for survival, but add comfort and pleasure to our lives".
EXAMPLE: In the movie, Kathleen can be seen reading to the kids.
EXAMPLE: This business is only located in a local town
A small or medium-sized business (SMB) can be classified by:
Employs fewer than 500 people
DEFINITION: "a business that produces or sells goods and services for the purpose of making profit."
EXAMPLE: In the movie, Kathleen can be
seen making an exchange. In the exchange, the customer can be seen giving money to Kathleen
in exchange for the books she sells.
EXAMPLE: To provide the children with great books!
EXAMPLE: The employees help around wherever they can. All of them are cashiers and all four employees can be seen helping Kathleen throughout the movie.
Despite Kathleen focusing more on satisfying kids with her business, she is losing customers because everyone is now shopping at her competitor.
EXAMPLE: "It's not personal, it's business".
As soon as Fox Books open, they started to lose customers. This meant the demand was low and they had a lot of supply.
EXAMPLE: Because of this, they did a 40% sale because the shop needed money. They had to sell as much as they could to keep the store running.
EXAMPLE: In the movie, it is mentioned that the Shop Around the Corner is a family owned business and it was passed down to Kathleen. Also, it is mentioned a couple of times that her mother passed away and Kathleen's mother meant so much to her.
CHARACTERISTICS:
Owned by one person (proprietor)
Many different responsibilities within the business
Owns all the equipment in the store and might own the building
Money to run the business usually comes from personal savings, friends, family, or bank loan
ADVANTAGES:
If the business does well, the owner gets all the profits
Starting up and administering the business is easier and less expensive compared to other forms of business
Kathleen is her own boss
DISADVANTAGES:
If the business doesn’t do well, the owner is responsible for all the losses (may lose home and other personal belongings) also known as unlimited liability
Financing may be difficult
Owner may not be familiar with all aspects of business
Throughout the movie, I can make an inference that the business is satisfying the level of love and belonging because of the bond it creates. This business brings people within the community together because the Shop Around the Corner is known as that local bookstore in their town.
EXAMPLE: At the beginning of the movie when it introduces this business, it is filled with happy family and friends enjoying their time together. The business has successfully created an environment that brings the community together.
DEFINITION: "Things that are not necessary for survival, but add comfort and pleasure to our lives".
EXAMPLE: Because it is a big business,
it has several hundreds of employees working. within different departments and positions.
EXAMPLE: Because the store itself is really big and it has two floors, there must be employees working to occupy the spaces that the store offers. For example, there is a kids area separate from the cashier line so there needs to be more people working in those specific departments.
DEFINITION: "a business that produces or sells goods and services for the purpose of making profit."
EXAMPLE: I know this is a for profit business because when Kathleen is exploring the store, there are shots of people exchanging money for books.
The bigger the store, the bigger the inventory to occupy such space.
The way the store was finished had a modern look (at their time) inside and out . This appealed to the local community because where they were located wasn’t particularly in the big city.
Because of this, the hate Kathleen had for Joe grew as the movie progressed because his business was putting her out of business.
EXAMPLE: Fox Books had an estimated 150,000 of books in their inventory.
The price of the books were considered cheap and according to the law of deamnd, the cheaper the product is, the higher the demand.
CHARACTERISTICS:
A business that has been granted legal status with rights, privileges, and liabilities that are distinct from those of the people who work for the business
Can be as small as one person or as large as a multinational/transnational
Most are own entirely by individuals, families, and small groups
Cannot be managed well if it is owned or funded by only one or two people (resorts to selling through a stock exchange for shares)
The more shares a shareholder owns, the greater the control
Shareholders have limited liability (not held responsible for the debts of the corporation)
ADVANTAGES
Limited liability is an advantage because it encourages people to buy shares
If the business earns profit, some of it may be used to expand the company
A publicly traded corporation may pay out the rest to shareholders in the form of dividend
Transfer of ownership is simple
EXAMPLE: If Joe were to pass away, the shop will continue to run as if he was alive.
DISADVANTAGES
If the corporations fails, the owners or shareholders lose only the amount that they’ve invested in
Timely and costly to start up
People who own only a few shares don’t have a lot of influence on how the company is run
Throughout the movie, the clips of Fox Books show people being happy whether they are in a group of friends or be themselves. I would classify this as esteem because it shows that Fox Books is providing an environment that make people comfortable and filled with confidence.
EXAMPLE: When Kathleen is discovering the kids area, there are kids playing and reading together which shows their confidence in reading and the respect they have for each other.