Essay on Borders Group, A Failed Business

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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. “Borders Group, Inc. is now the second largest bookstore in the world” (Hoover's 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
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“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” (Hoover's company profiles, 2011).
“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” (Hoover's company profiles, 2011).
Vision Statement
“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” (Hoover's company profiles, 2011).
Competitors
“Borders Group, Inc. competitors are Amazon.com, Barnes & Nobles and Books-A-Million. Amazon.com started off as an online bookstore

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