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From the e-Activity, evaluate the lessons learned in this chapter to determine which single lesson would be most beneficial to the company you researched. Provide specific examples to support your response.
From the e-Activity, identify one firm that you think would make a good strategic partner for the company you researched. Provide specific examples of why you think this firm would be a good partner.
This is not a paper it is a discussion post. Two paragraph minimum. I do not have the case study but I have a post of someone explaining their thoughts. Please see below:
•From the e-Activity, evaluate the lessons learned in this chapter to determine which single lesson would be most beneficial to the company you researched. Provide specific examples to support your response.
When a company fails to innovate it is destined for failure. Innovation comes from the R&D efforts that can create competitive advantage for a firm distinguishing it from competitors. Innovation is the way of the world as it drives companies to invent new products, it opens doors to markets not previously explored, and it allows them to become market leaders. Unfortunately, Blockbuster failed to innovate with technology as consumers were following the new trend of watching movies online. After Redbox came into the industry making it so simple and inexpensive for customers to rent movies, the fad of going to Blockbuster started to die down. Not only were customers tired of paying late fees, consumers realized there were better ways to watching movies. When Netflix came into the industry it was over for Blockbuster. Netflix kept it simple; you can subscribe to their service for a flat monthly fee without any late fees and you can watch an unlimited amount of movies. Blockbuster should have followed the trend of online memberships for movies and left their brick and mortar stores in the past.
•From the e-Activity, identify one firm that you think would make a good strategic partner for the company you researched. Provide specific examples of why you think this firm would be a good partner.
Blockbuster tried following the steps of Redbox by placing movie kiosks in different locations, but the move did not work and they eventually ceased operations in 2013. A good strategic partner for Blockbuster could have been Netflix. Blockbuster could have partnered with Netflix to better their services and come up with a business plan to help the firm go from DVD rentals to online-streaming. Blockbuster could have followed the same steps Netflix flowed to go from a small DVD mailing service company to the mega corporation they are today.
According to this article, Blockbuster once had the opportunity to acquire Netflix but they passed thinking they were a small niche company…..big mistake!