...Business Models and Systems BUS 210 Caren Evans Ms. Lockhart October 27, 2013 As with any business, there are three major components of a company’s business model. These components are business as commerce, business as occupation, and business as organization. A local company whose services I frequently use is Dollar General. The business as commerce aspect of Dollar General’s business model is mostly focused on trade. In trade, it is the exchange of products using money (Jones, 2007). Since Dollar General is a retail chain, a vast majority of its profits in commerce is due to trading with consumers by offering products that fulfill consumers needs. In the second component, business as occupation, Dollar General does very well. In business as occupation, there are two key factors; specialization and business occupation. Specialization is the process in which people become experts in a narrow field, such as the employees of Dollar General. When handling particular products over a period of time, employees can and do become experts on those products and in turn improve the services offered. Dollar General employees are excellent examples of satisfactory customer service. With business occupation, however, it involves an acquired set of skills or abilities that can be traded or exchanged for profit. This simply means that once a person is trained for a particular task(s), he or she can create and improve the skill set that is necessary to perform the functions of the occupation...
Words: 388 - Pages: 2
...Business Models and Systems • Consider a local business whose services you frequently use. What are the main components of this company's business model? I work as a salesman for a local restoration company, American Restoration, in Indianapolis. Our main source of new business is generated by the cruelty of Mother Nature. We generate new business when the weather unleashes havoc on local residents. Our process starts when hail wind, tornadoes, floods, and fire affect an area or specific neighborhood. This could be within the city, or even outside of the state. The salesman frequents the area to find homes and buildings that have sustained damage. We contact the insurance companies for the home or business owner to file claims on the property. We then meet with the insurance adjuster to make sure the damage is absolutely insurable. Once the roof is bought we work directly with the homeowners and business owners to get the work completed using a list of contractors we work directly with. • Write a 200- to 300-word response describing the three components of the business system that comprise the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference. Business Commerce – American Restoration uses a process of weather monitoring that allows them to monitor what Mother Nature is doling out, not only locally, but also throughout the country. This system allows the salesmen to move directly into areas that have been affected...
Words: 863 - Pages: 4
...1. CheckPoint: Business Models and Systems Consider a local business whose services you frequently use. What are the main components of this company's business model? Write a 200- to 300-word response describing the three components of the business system that comprise the local business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a reference. The three main components of the Centralia Recreational Center are business commerce, business occupation, and business organization. The business commerce of the Centralia Recreational Center would be that citizens of this community and citizens of the surrounding areas can pay a set amount of money periodically to become a member and have full access to all of the features of this business. Of course, the value of this is better fitness and health for the members, and quality family time spent together by exercising, swimming, or participating in certain family oriented activities. The business occupation of the Centralia Recreational Center are the swimming pools, hot tubs, basketball court, running track, weightlifting and fitness room, and some of the classes the business offers for a variety of aerobics and fitness programs for people of all ages. The Centralia Recreational Center also hosts a number of tournaments for basketball, swimming, and volleyball. In my hometown, there are several other businesses that offer similar services to their customers, but none of them have the services that the...
Words: 314 - Pages: 2
...CheckPoint: Business Models and Systems A company’s services I frequently use is Wal-Mart. One of the components of their business system is their competitive advantage. Walmart has been able to provide quality goods at a reasonable price for many years. By doing this it has allowed them to grow at a rapic rate. They have been able to take the basic products sold at high-end stores and sale them to the public at an affordable cost. Another component of their business model is their mission statement which is ("Our mission is to enhance and integrate our supplier diversity programs into all of our procurement practices and to be an advocate for minority- and women-owned businesses."). This is an important component for Wal-Mart because it gives them a plan or course of action to head towards in order to become and stay competitive. What this also does for Wal-Mart is give their suppliers a place to sell their goods and since Wal-Mart has established a name for themselves, it gives their suppliers peace of mind. A third component of Wal-Mart is to build capital. Wal-Mart has been able to do this by taking profits and putting them back into the company. They have created Wal-Mart Superstores which are one-stop-shops which ultimately draw more customers. Customers can purchase everything for their home, kitchen, garden even get their car worked on all in one location. This is a convenience for customers which ultimately prevents them from having to drive to multiple locations...
Words: 286 - Pages: 2
...A local business that I frequent is Walmart. I go there on almost a weekly basis to get groceries and household necessities. The three main components of a business model are its business commerce, business occupation, and business organization. Business as a commerce is the process in which people produce, exchange, and trade goods and services. Walmart’s business commerce is trade. As Walmart has expanded, they are engaged in not only the trade of goods, but also services. Most Walmart stores have a variety of services that are provided, from a pharmacy, to a photo studio, hair care salon, etc. Business as an occupation is the set of skills and abilities that an organization has that allows them to create value in the goods and services that they offer. In the case of Walmart, a highly efficient set of skills and abilities exist. The company is set up to encourage efficiency and mass purchasing power, which allows Walmart to undercut its competitor’s pricing. Furthermore, Walmart invests significant amounts of money in employee training, which further supports the skill set of the business. Business as an organization is the system of authority and relationships that control interactions between people and move the organization towards a common goal. Walmart’s organization is one of its strong points, as it is organized according to a divisional structure, utilizing a market structure. Walmart, over the years, has greatly expanded its market structure, which allows it...
Words: 255 - Pages: 2
...Business Models and Systems The business I like to visit when I usually pick up my girlfriend from work is a restaurant between the corners on the street. It is close by a small neighborhood and an elementary school, which this is known to be a small local business. This business mainly deals food in different variety of meals that consists of breakfast, lunch and also dinner. It operates in a set schedule every day for normal business hours. In the Business in Commerce they buy products like meats and chickens and certain different ingredients to resell it as cooked product, also known as a restaurant. They build a reputation upon good cooked meals. In the Business of Organization it is a family owned business that is operated by trusted friends and family. They have secret recipes and also ingredients that they use that make customers come forward for more. I am aware that they buy their food through warehouse prices cheaper, thus building a better revenue. Making sure that they are keeping this consistent to ensure the upkeep cost will allow them to keep the same reduced prices but a profitable gain. When there is marketing, it is when they show the picture of the food that you are interested in. With Business as an Occupation they ensure that their cooks will maintain the exact meals consistently with the ingredients for consumer to know and familiarize with the taste. They must ensure that their meals are always exactly the way as the description and also create it...
Words: 335 - Pages: 2
...Business Models and Systems In the foundation of a Business you need three main focus points to establish a firm foundation. I like a small cute store called old time treasures in my home town, which sells items from the past as well as the present. The main goal with this type of business is to use process as a form of keeping sales and revenue high enough for a good turn over, she buys from different people in the community old time antiques as well as more up dated items. She also trades items of value for other items of a much higher value. The main point is to keep her customers happy so that they keep returning as well as word of mouth and advertising, Even though word of mouth is free, there is the cost of a small bill board she uses to advertise her place of business north of town this might cost her a little money each month which is part of her overhead spending. It still gives her a much higher chance of increasing her production, the advertising helps with sales which give her overall revenue. With this she has been able to enlarge her store and bring in more goods to help benefit the community she has been able to hire several people full time. This is what makes a good business is keeping people in jobs as well as meeting the needs of the community by the merchandise being sold. I know the main point of her existence is to build more stores in other community’s which will make her a chain store and give her more profits; she has to keep overhead low, I know...
Words: 358 - Pages: 2
...food suppliers, and other pet supplies by trading and bartering to promote their products through Country Best customers. For example, Natures Select Dog Food has attractive packaged samples of all their food in the office for the owner to recommend. This dog food is holistic, the dogs love it, priced competitively with the better brands found in pet stores, and is delivered to your home. The owners also have a second business on the property, Blue Ridge Heirloom Nursery, specializing in native plants of the Blue Ridge Mountain region. Customers for the nursery come from four different states for the native plants which creates awareness of the pet resort and vice versa. Country Best Pet Resort business organization is owned and operated by a couple who recognized the need for specialty services utilizing their skills, abilities and education (business occupation) to build business commerce that is profitable by providing specialized services that have created a value for customers. References Jones, G. R. (2007). Introduction to business: How Companies create value...
Words: 307 - Pages: 2
...Testing a theory. Why do humans seek an alternate reality? An alternate reality being a place or frame of mind that is somehow separated from actual reality. Actual reality contains all the true elements of life. These elements include work, school, having children, and paying bills. Life is full of adversities that humans must learn to cope with. Coping comes in many forms. It can be a walk in the park, some quiet time with a loved one, or even reading a good book. Conversely, coping can come in the form of substance abuse. Substance abuse can take humans to that alternate reality they seek. Different drugs have different effects on the mind and body. The reason for the effect is the same no matter what drug is used. This reason is to escape reality. Addiction follows this escape from reality. Once addiction comes into play, it is no longer a matter of escaping. People addicted to drugs, such as cocaine, need the drug in order to function. Without the drug they fiend for, basic human functions cannot even be performed. Imagine not even being able to get out of bed and use the restroom without injecting heroin. Monetary costs to a drug abusers can be tremendous. Those addicted to cocaine can have habits costing more than $3000 a week. There are many other drugs out there and some of them cost more or some cost less it all depends on what you want to use. The research I used was from the internet on drug use in our school,...
Words: 266 - Pages: 2
...The local business that I whose services that I frequently use is, Snap Fitness, which is a gym that you can work out and tan. The three components that this business uses in its business model are commerce, occupation, and organization. Business commerce is the process by which people produce and exchange valuable goods and services that fulfill their wants and needs. (Introduction to Business) Snap Fitness provides a safe environment for people to work out and tan in exchange for a small fee each month. This business is also open 24 hours a day so that you can go anytime. Business occupation is the acquired set of specialized skills that enable a person create valuable goods and service that can be traded at a profit. (Introduction to Business) The people that work at this business are skilled in taking care of the machines so that they are working so customers can use them. They also have special trainers so that they can teach customers, you want their expertise, to work out efficiently and in a safe manner. Business organization is a tool that empowers people to shape and control the behavior of other people to produce goods and services. (Introduction to Business) The owners of this business put their money into the gym and hire employees who see to the day-to-day functions. The employees make sure that the gym is up-to-date on the machines that they use and provide customer service to those that pay for a...
Words: 254 - Pages: 2
...company doing business in Arizona. I am not a customer of Desert Rain Enterprise (DRE) but I have a connection to the company. DRE is owned by Daniel Westergaard, my father-in-law and his brother Thomas. They have a 50/50 partnership, with Thomas currently being the silent partner (Daniel Westergaard, personal communication, December 21, 2014). The Business Plan When asked what the business plan is, Daniel answered, “Well to make money of course”. Upon digging, the Westergaard’s did have a business plan, at the beginning and when times were good. However, now the plan is to survive and keep doing what is working. In order for DRE to be successful the Westergaard’s need to balance the components of business. Right now this isn’t happening. DRE provides water vending machines to local convenience stores, for use by the store’s customers.DRE charges 25 cents for each gallon dispensed. DRE and the store owners have an agreement, DRE purifies water provided by the store and DRE gives a portion of the whole to the store. DRE’s business commerce is a trade of placement, product and money allowing for a profit for both store owner and DRE. Daniel has a history of water purification going back to Culligan in Indiana. His 30 plus years in the industry (Mark Westergaard, personal communication, December 21, 2014) and the understanding of how to purify water and the machinery needed to produce quality drinking water has made him a specialist. The business occupation...
Words: 516 - Pages: 3
...1 BUSINESS MODELS Jessica Crespo Business 210/Foundations of Business July 26 2013/University of Phoenix Professor Linda Lockhart 2 BUSINESS MODELS There is a local salon that I visit frequently. I am in there either getting my pedicures or eye brows done at least once a week. Every business has a model regardless of what industry you are in. All business have models that have three main components. Those are (1) business commerce (2) business occupation and (3) business organization. Business commerce is the process where the good and services are produced. The nail technician does my pedicure and I pay her for her services and for doing such a good job would be considered business commerce. Business occupation is a skill or a service done to provide value to their customers. Nail technician is a very skilled and patient acquired job so you have to pay to get your services from a nail technician. Its not a job everyone can do so sometimes you have to go to the next person to make them look fabulous. Business organization is the last component of the business systems. This particular nail salon is very small since they only have one salon in town. I advertising in the local papers and around town. They definitely stick out when you drive by them. They also only have a few employees maybe 5 so they are very small. Since the business organization is the systems of task the relationship between the nail...
Words: 263 - Pages: 2
...Business Models, Systems and Organization BUS/211 9-8-2014 Business Models, Systems and Organization Introduction I like to drink coffee; it wakes me up and gives me the boost, although limited, of energy that I need to get my day started. My favorite local business is "The Human Bean" a small drive through building setup to service coffee on both sides. They can get your selection of coffee ready in a flash so that you can drive off to work, or whatever your next destination might be. They also offer an incentive so that people will continue to use their services. The customer will receive a punch card and marked every time you visit, on your tenth visit you get a free coffee and you name put in a drawing for a week of free coffee. Business Components In the three components of the business system, we will start with commerce, which tells us about how people use their product and services. The Human Bean sells coffee, not just plain coffee, but specialty coffee and other drinks and food items. The building is used as well for services offered; you can service two people at the same time making the service fast and efficient. The next component is occupation, which would describe the employee's skills used in the business. The employees at this business would be called" barista," they are trained to make all kinds of specialty coffee drinks. The business has managers to supervise, hire, fire, and schedule the barista and suppliers for the coffee and the different...
Words: 628 - Pages: 3
...Business Models, Systems and Oganizations The local business that I frequently use is Target. I love this store because it’s a one stop shop for all of my needs. I visit the store at least once a week. I can get anything from laundry detergent to groceries, clothes and even household needs. This store has the three main business components detailed below. The definition of a business as a commerce as it relates to Target is when people in business produce, exchange, barter and trade goods and services for their specific need. I believe Targets business commerce is to trade goods and services. I say this because the store has everything any consumer would want housed in one location. The definition of a business as an occupation as it relates to Target is when the business trades skill or labor. It allows an organization to provide value in their goods and services. Target there is a high level of skill set that the organization has to have. This helps with keeping great customer service at an all-time high. It also helps in creating goods and services that are valuable to consumers. Target seems to reinvest in their employees. This gives them the advantage to continue to train their employees and produce their products in mass quantities. This allows the brand to continue to grow. The definition of a business as an organization as it relates to Target is when a business uses bargaining and negotiating for goods and or services. Target is one of the most organized...
Words: 351 - Pages: 2
...Business Models and Systems Terilyn L. Blue BUS 210 June 8, 2012 Tony Sines, MBA/TM Business Models and Systems The three components of business are: Business Commerce, Business Occupation, and Business Organization. Business Commerce is the process through which people produce exchange and trade goods and services. Business Occupation is the acquired set of specialized skills and the abilities that allows people to create valuable goods and service. Business Organization is the system of task and authority relationship which coordinates and controls the interactions between people so that they work towards a common goal. When you put all these factors together you get a business system, which is the combination of business, commerce, occupations, and organizations that produces and distributes the goods and services that create value for people in society. In my area there is a business that operates as a pharmacy. It is owned and operated under a franchise name. The owners are in a partnership with various members of the family, making it a family owned business. The owners of this business decided they wanted to be able to serve the community in various ways. The shelves are stocked with quality low priced items that everyone in the community can afford. The service is on a more personal level. Mr. Woods purchases his supplies from the local market in Alabama where his says he get a great deal to pass onto his customers. There are times when Mr. Woods have...
Words: 293 - Pages: 2
