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Local Business

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Submitted By relcraft
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A local business that I use the services frequently is Kmart. I shop at the store for all my non grocery items. However, I have bought groceries at Kmart before. The three main components of this company’s business model are business commerce, business occupation and business organization. The form of business organization that Kmart uses is joint stock. It is a joint stock company because the company sells shares of the stock to investors that guarantee them the right to a certain percentage of the company’s profits. It is not a sole proprietorship because it is not a nonincorporated business entirely owned by one person.

Kmart experiences business commerce when the company exchanges the stocked products for the customer’s money. The company has a wide variety in shopping to make this possible. The store offers everything from clothing, toys, electronics, lawn and garden to groceries. The store also offers other amenities that trade services for money, such as a pharmacy, layaway system, and an in store fast food service.

Business occupation is the set of skills Kmart possess, which allows them to create value in the goods and services that they offer. In the case of Kmart, a highly efficient set of skills and abilities exist. The company is set up to encourage efficiency and mass purchasing power, which allows Kmart to undercut its competitor’s pricing. Furthermore, Kmart invests significant amounts of money in employee training, which further supports the skill set of the business.
They invest store space and money into the layaway program that is currently not offered at many other competitors in the same industry. Business organization is the tool Kmart empowers to shape and control the behavior of other people to produce goods and services for the company. Through the years, Kmart has lowered their prices compared

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