1. There are two similarities between profit and nonprofit businesses. Both provides goods and services to customers. These two types of businesses also have costs from a variety of things such as supplies and employee pay. The difference would be that while a for-profit organization works to actually make a revenue, nonprofit companies provide services without compensation and rely on donations.
2. In this video, all factors of production were mentioned and how they are incorporated into the Muttville business. Sherri Franklin, the founder had enough entrepreneurial spirit and intellectual property to start up the business and keep it running even today. Franklin was willing to accept the risk that came with starting a business as any classic…show more content… Muttville is affected by four different factors out of the many that make up a business environment. The company biggest expenses come from keeping pets healthy through immunizations, spading and neutering, which is state regulated. These expenses are covered by donations. In order to have a bigger outreach with awareness to bring more donations in, technology, such as YouTube, is used. Changes in demographics, such as an aging population, can also have an effect on the business. An aging population can increase the amount of goods, or orphaned dogs, which may not necessarily be in…show more content… Out of the seven key business rules, (stakeholders, competition, uncertainty, ethics, a common enemy, societal differences, and self-development), this video identifies five of them. For Muttville, who invest greatly in their dogs’ futures, it is important to honor stakeholders. Making sure the dogs and the families are happy is essential. Competition plays a role in the Muttville business environment as well. Other companies such as the SPCN or puppy mills that breed dogs in demand can have an effect on the company. Although, Muttville is unique in the sense that it has dogs not in demand, nor does it euthanize the dogs. Ethics are another important business rule that was mentioned. This rule can take a toll on the organization, particularly during economic hardships. Donations numbers drop and the number of dogs that need homes increases. Dogs must be turned away as the limit is within the amount of foster homes and the budget size. This business has strict ethics policies, adding to the levels of its success. Ethics, in a way are connected to uncertainty, as the economy is not stable at all times and surprises can be sprung on the company. Being an entrepreneur and taking risks can also have a degree of uncertainty, though it can pay off in the end as it did with Muttville. Lastly, self-development was mentioned. Appearing on the Oprah Whinfrey show not only boosted the company’s self-esteem, it also drew attention to the business, creating a bigger customer