Essay on Borders Group, A Failed Business - 1604 Words

Introduction There are many businesses failing in the world today but there also a lot of business thriving. It is situations like this that leads to potential entrepreneurs to ask the question of why are some businesses successful while others are not. This course has given me some insight as to why some businesses fail. Having that information would make me better prepared for when I decide to start my business. My Failed Business Choice The company I chose to do research on is Borders Group, Inc. â€Å"Borders Group, Inc. is now the second largest bookstore in the world† (Hoovers company profiles, 2011). This is a company that I just recently found out about. I love book stores and living in a town where the bookstores are very few†¦show more content†¦Ã¢â‚¬Å"By 1990, Borders was considered to be the premier book superstore chain. In 1992, the Borders brothers sold the company to Kmart Corporation. After purchasing the company Kmart implemented modernized cash registers, formal training programs for employees, a human resources department and introduced music to the store’s stock. After these changes were made Borders operations reached $224.8 million, which was a 15.8 percent increase in net sales from the previous year† (Hoovers company profiles, 2011). â€Å"Kmart later ended its ownership of Borders when the formation of Borders Group, Inc. In 2010, Borders Group, Inc. was operating 584 stores and employed almost 20,000 people. In 2009, the company had a $2.8 billion dollars in revenue† (Hoovers company profiles, 2011). Vision Statement â€Å"Borders Group, Inc. vision is to create richer, more satisfying lives through knowledge and entertainment. Borders prided itself on having first-rate customer service, offering customers a wide range of services from location out-of-print titles to community activities like children’s storytelling hours and poetry readings† (Hoovers company profiles, 2011). Competitors â€Å"Borders Group, Inc. competitors are Amazon.com, Barnes Nobles and Books-A-Million. Amazon.com started off as an online bookstoreShow MoreRelatedComparison between Borders Books and Amazon.com Books1726 Words   |  7 PagesBorders Books and Amazon.com Borders Books This essay examines similar bookselling businesses with dissimilar outcomes, Borders Books and Amazon.com books. The essay reviews their histories and business strategies and explores reasons behind their respective success and failure. The Borders Group Inc. was at one time the nations second largest retailers of books, along with music and other educational, informational and entertainment products. 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