Week 1 Practice: Business Structures

Mind Map is here.

The purpose of the assignment was to learn the different types of business models. This is important because we need to know what our options are when we set up our business plan. Most of us will probably be looking at Sole Proprietorship or Partnerships because they are simpler models and are easier to to going for start ups. 

• Sole Proprietorship
• Has only one owner and is often run by that individual. There is little distinction between the owner and the business.
• Pros: Simplicity in startup, makes taxes easier, and no contracts to worry about with partners.
• Cons: One person has all the liability, not much room for expansion, may seem less legitimate without the formal business structure.
• 3 Real World Business Examples
• Landscaper
• Home Healthcare
• Tutoring

• Partnerships
• Two or more people equally sharing a business. All parties are equally responsible and liable.
• Pros: The responsibilities start up, liability, risks and expenses are all shares. Easier to expand later.
• Cons:  Partnerships are hard on friendships, share liability means picking up someone’s weight if they drop it, shared profits, and shared control of the business’s future.
• 3 Real World Business Examples
• Google
• Apple
• Ben and Jerry

• Corporations
• A company that is its own entity or legally a person. The company is separate from the owners or stockholder. 
• Pros: Owners have limited liability because the corporation is its own entity, It’s easier to attract investors, you can offer stock options to employees.
• Cons: It is time consuming to become incorporated, then there are a lot of formalities required to meet the requirements or a corporation, and taxes are more complicated and may actually be higher because the corporation itself can be taxed.
• 3 Real World Business Examples
• Starbucks
• Target
• Wal-Mart

• S Corporations
• A corporation with less than 100 shareholders that has elected to pass all tax liabilities to the shareholders. This keeps the company itself from any tax responsibilities.
• Pros: Protects that assets of shareholders from debt collectors going after the company, the company does not get taxed, and gives potential investors confidence in the business.
• Cons: As expensive and time consuming as a corporation with upkeep fees, limits types of stock and number of shareholders, and the IRS gives greater scrutiny to filings.
• 3 Real World Business Examples
• Real Estate agents
• Attorneys
• Contraction Contractors.

Week 1 Exploration: Web Designer & Serial Entrepreneur

MCPP Portfolio Project Submission: Chief Pinning

Star Rating Sought:

2 Star

Project Description:

Every year in the navy we promote a few people to Chief. It is a big deal because it is the first Enlisted rank that is equivalent to an officer. I am putting together a DVD of the Promotion Ceremony for this years new Chiefs. 

Link to Deliverable:

Once uploaded I will post the link here.

Feedback Received:

Resources Utilized:

Will update upon completion. 

Analysis: PR Plan - Goals, Objectives, Strategies and Tactics

Goal

Our goal is to gain back the 10% of ticket sales we lost over the last year. We will do this without raising ticket prices and getting people re-interested in seeing movies at the theater.

Objectives

Bring in 10% more revenue then last year

Keep ticket and concession prices at current costs or lower

Bring in additional entertainment options (stand up comedy, closed circuit events, live theater)

Strategies

We will advertise these events and goals through local radio advertising and flyers at local community events.

Show the theaters interest in the community by attending and advertising at community events (farmers market, school events, concerts)

Talk with local live entertainment about setting up community nights.

Hold local film festivals and Film making and critiquing classes.

Tactics

Attend local entertainment in the area and bring in acts that will set the mood and feel for the theater.

Create a unique feel for each theater so people are interested in visiting for the theater not just the movie.

Offer short-term childcare for duration of show.

Offer larger variety of healthy and local options at concession stand

Build a community by offering events where people can mingle and talk as opposed to watching a movie in silence and walking away. (Classes, movie discussion time)

Target Audience

List your three primary audiences, those whom you want to impact through this plan.

People interested in getting involved with the community

People who like movies and want to know more about them

People looking for alternative entertainment but like the comfort of the movie theater.

Key Messages

The movie theater and Hollywood are separate.

We are invested in the Community

We have more to offer then Just movies.

Exploration: Situation Analysis

Hi Class,

This campaign will be a little different because it is for the whole industry and not just one company. I might want to scale back later and focus on one company but for now I am looking at the industry as a whole. The public opinion seems to be pretty low right now. The big concern currently is skyrocketing prices, both for tickets and concessions. There also appears to be little disconnecting in the audiences mind between the movie theater industry and Hollywood. With the way we watch movies at home now it is more important for theaters to provide a service that entices the audience out of their homes.

                With most theater charging over $10 per ticket and at least that much for popcorn and a drink, it becomes a pricey date fast and even worse for a family. When you take into consideration the turnaround time for that same movie to be available for $15.99 on DVD is getting to be right around three months or less, the price doesn’t seem worth it. The customer service has gone downhill too. The ticket and concession lines are long and slow, the cahiers are listless and apathetic, and the fellow movie goer is becoming less considerate. It has gotten to the point where we get at least three cell phone reminders and still hear a phone ringing half way through a movie. Why put up with that when you have a 70 in High definition TV in your living room and the latest Blu-Ray for less than two admission tickets.

                The connection between movie theaters and Hollywood is pretty tight. This is another area where the theater companies might want to re-image. When Hollywood is in a lull and putting out films that aren’t interesting the public theaters suffer. This would be a good time to diversify entertainment options. Many theaters do have some live shows and closed circuit events, but the advertisement is shoddy and rarely reaches the right market. Movie marketing is huge and most big budget films create buzz through many outlets: trailers, actor interviews, web sites, magazines and the list goes on. Theaters need to vary their advertising as well, and promote the theater not the movie.

                With some re imaging and some slight re-structuring of the antiquated business model the theater industry can put the audience back in their seats.

               

Week 1 Practice: Research

Hi Class,

Here is the link for My Power Point for Research.

Thanks
Addicus

Brain Based Ideas

https://www.apple.com/

Apple’ website does great things with minimalism and contrast. The white background makes everything

pop off the screen and really highlights the product. The use of white makes the whole site look clean

and bright and sets the tone for viewing the products.

http://www.progressive.com/commercials/betterplace/

Progressive does a similar thing with their commercials, the minimalist white background and color on

the customer and their product. Even the mascon is dressed in all white because they want to highlight

the brand and the consumer.

PLZSTAYCALM

This is a GPS game that allows you to interact within you community. You can meet other players or explore areas near where you are. It also has limited time games that are only available to certain players. I does a great job of creating sub-communities and making people feel like they have access to special and unique content.