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Other peoples money discussion paper

1.In the movie other people's money you have a main character named Lawrence Garfield and he takes over people’s company’s which aren't doing good and then liquidates it with the mindset of the stockholders and himself will be getting a bigger payment if he does this rather than stick it for the long run. Jorgy, who is the majority owner and the founder’s son, does not want to sell it because he believes in traditions and core values. He hires his step daughter who is a lawyer to step in and help save the business but refuses to listen to any of her advice. In the process of the legal battle Garfield falls in love with Kate. Kate, using that to her advantage, tries and gets Garfield to back off but to no avail. When they give it to the stockholders to vote they vote in favor of Garfield and he takes over the board. At the very last scene he receives a call from Kate telling him that the company will be profitable again due to airbags. It is entrepreneurial because the owner of the business had a decision to make that impacted his employees and their family and his own whether he would lose the business or not. You could say there was an opportunity cost he had to assess.2. It is interesting because you really get to see two completely different sides of the spectrum. On one side you have Garfield who could care less about the employees and their jobs and family and only cared about turning a profit and making money for himself mainly and also the stockholders. Then on the other end you have Jorgy who doesn't really see the business side of things rather he focuses on tradition and the families and the employees and the legacy of his father. When it comes down to it, both extremes are bad and you would wanna find a good balance of both. It is also interesting to see how someone from outside the business would see your business rather than yourself, at the beginning of the movie when Jorgy and Garfield meet up to talk about the business, Garfield saw it as a failing business whose worth was in its liquid assets like machinery and land. Jorgy saw it as a business with rich tradition who could turn an upside and demanded more respect than Garfield was giving it and it just showed how much he cared about his business he helped grow. 3. Entrepreneurship affected society by creating a sort of culture around the company. New England is described in the movie as a small town and on the day of the decision there were people with signs against Garfield and people showing up who he hadn't seen in years and so it gave people opportunities and brought people together in that sense. Society affected entrepreneurship by forcing adaptation. Garfield gave an example of buggies and how no one can get them anymore and even though the last company that still made buggies probably made them best they still are nowhere to be found because people were offered better ways of transportation. Society directly decides when that change will happen and if people innovate then their company stays afloat but if they don't then they are left behind. Another thing Garfield said about adapting was when he and Kate were talking about how she will take him down by implementing new laws he told her that new laws can be made but it won't affect him because the game won't change he will adapt and that's a great mindset to have. The interaction between society and entrepreneurship is that they go hand in hand both impacting the other. I don't think Jorgy would've been so protective of his business if he didn't see all of his employees like a family. Garfield wouldn't have even paid attention to the business if he didn't see that the business was going downhill after no innovation and a value of tradition and so he never would have gone through that trouble in the first place. At the very end of the movie when Kate called him about the airbags it showed that the company was willing to innovate rather than lose the business and that issue was caused by society.