A business is a legally recognized organization or activity that exists within a country that has sufficient economic freedom to sell goods or services to customers or engage in other profit-making activities. There are many types of business such as sole proprietorships, partnerships, corporations, and limited liability companies. So what are the differences between these businesses’ strategies and ways of working?
Junghoi Moon said “I’m Junghoi Moon, an artist making picture books and dolls. I am also working at my brand called The Dolls Hotel”. It’s a virtual hotel where five of her dolls “work”. She came up with a story about dolls meeting in a ruined place and opening a hotel there. She said “I create new dolls thinking that they are new guests of the hotel”.
|[Front desk of The Dolls Hotel. Photo credit: Junghoi Moon]|
Originally, Moon wrote and published picture books for children, but because she had loved dolls since she was young, she started to make dolls by hand at home. After consistently making dolls for some time, a large number of dolls accumulated in her home so she decided to start a business based on her dolls.
Usually, she makes dolls for picture books or sells them at exhibitions. She sometimes works with brands as well, recently making a mascot doll for an ice cream brand. According to Moon, the advantages of this work is that she can express feelings through the dolls that cannot be expressed in words. However, she is a mother of very young children, which makes it difficult for her to balance work and parenting at the same time.
|[Icecream and mascot doll made by Junghoi Moon. Photo credit: Junghoi Moon]|
Junghoi started to make picture books when she graduated from university and made dolls with used materials like discarded clothes. She said that, compared to dolls, making a book takes many steps which is why it took her about five years to publish her most recent picture book. Despite how long it took, she is proud that the story can finally be shared with readers. As there are many kinds of dolls and many emotions that can be expressed, Junghoi wants to share her dolls with people of various ages and plans to create a large space for her dolls.To learn about the differences between different kinds of businesses, I interviewed Leo Moon.
Leo is the CEO of Aju Hotels & Resorts. His company invests, develops, and manages hotels and looks for opportunities to create great spaces or experiences for customers can enjoy while traveling. He created a hotel brand called RYSE, and plans to expand it globally.
|[Picture of Leo Moon. Photo credit: Leo Moon]|
In college, Leo studied hotel management, and the combination of this education with his experience after college led him to enter the hotel business. He said, “To become a business person, it is important to understand accounting, finance, strategy, marketing and many more. It really comes down to working with people who are experts in each of those fields, and you need at least general knowledge of each of those fields in order to put them together and use them to collaborate with and manage those people.” However, he highlighted that applying your knowledge in the field as you work is more important than just knowing it.
As a CEO who grew up in Korea, went to college in the US, and then got an MBA in France, Leo thinks of his role as helping his company go beyond the Korean market. For this reason, he travels the world to find opportunities, meet people, and see new business concepts and ideas. It is really different from just searching the Internet, so he’s grateful that he can travel the world for his work.
Leo also expressed gratitude for his readers and said that he’s blessed to be where he is. Finally, he explained that his job and goal as CEO of the company is to recruit and manage talented people to help achieve the company's goal and strategy, which is help his employees develop their skill sets and grow their careers while making his customers happy.
Even Junghoi Moon and Leo Moon’s job and working strategies are very different, they succeed by doing what they can enjoy and well-collaborating. In order to be successful in your career, will, knowledge, and strategy are very important, but the most important factors of success are experience and enjoying your work. This is especially true in cases where creativity and efficiency are important.
Middle School (8th Grade)
Saint Johnsbury Academy Jeju
Hayeon Shin firstname.lastname@example.org
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