Preview

Failure Analysis/Change Strategy Paper

Satisfactory Essays
Open Document
Open Document
415 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Failure Analysis/Change Strategy Paper
Failure Analysis/Change Strategy
LDRP/531
3/10/14
Aaron Aylsworth
Failure Analysis/Change Strategy
There should also be a strategy in mind when it comes to businesses in order to prevent failure. The company should have everything documented all the way from budgeting, goals, employees and other important factors that a business will need in order to succeed. There are two companies that are great examples of a business failure and success. The failure would be Blockbuster (movie rental company) and Starbucks (coffee shop). These two companies have been around for years. However, one of the companies failed recently, which is Blockbuster.
The objective, vision and mission for Blockbuster was to provide a great service for families and friends to enjoy the presence of movies as if they were at the theatre. Blockbuster was a company that served the public for many years. Having the ability to rent movies from different years and all categories is what helped the business succeed. The vision was to give individuals the ability to see movies that were no longer at the movie theater or on television. The mission was to provide media entertainment.
The objective, vision and mission for Starbucks is to provide quality coffee to customers and keep them satisfied. The individuals that work for the company must have an enthusiastic personality to fit the company and keep customers smiling. This has helped them to remain successful along with serving a great beverage. This company also has different franchises all over the world to meet the needs of customers.
The indicators from the failure of Blockbuster has a lot to do with structure. There are many companies out there now that are more convenient when it comes to movie rentals. Individuals are able to order movies online and from the actual cable company. There are also movie stands in front of certain stores and individuals can rent those at ease. This business would not be able to keep up with all

You May Also Find These Documents Helpful

  • Good Essays

    Blockbuster tried to make changes to win back the customers it was losing to Netflix and Redbox. The included the option of delivery service to be combined with in store pickups as well. The advantage was that they had a company that already has a DVD rental delivery service to learn from. Netflix had already invested money into research and development of their delivery service and all Blockbuster had to do was copy their service. Another advantage is that Blockbuster knew that there was a need for the service based on Netflix’s…

    • 717 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Closing of Blockbuster

    • 3720 Words
    • 15 Pages

    Blockbuster has 500 stores remaining in 2013 down from a peak of more than 9,000 in 2004. Decision making is the key and the way the final decisions are made is very important. “Blockbuster experienced a…

    • 3720 Words
    • 15 Pages
    Better Essays
  • Better Essays

    Blockbuster Video

    • 3224 Words
    • 13 Pages

    The always changing world of technology creates a challenge for many older businesses that once thrived years ago. Americans along with many other countries are becoming centered around immediate gratification and in a way, lazy. Fast is better and right now wins. When Netflix came into the homes of millions, it almost seemed like the end of all other movie rental providers. A change in leadership from a recent buyout has saved Blockbuster and has placed them as a leader once again in the entertainment business. Blockbuster has a new strategic plan that seems to be working, but a look into a new strategic plan that analyzes the good and bad, might suggest that a new strategic plan is needed. My strategic plan will not only point out the opportunities, areas that need improvements, and distinctions, but layout the new strategic plan that will create success in Blockbuster for years down the road.…

    • 3224 Words
    • 13 Pages
    Better Essays
  • Better Essays

    final paper

    • 928 Words
    • 3 Pages

    Blockbuster is a company that encountered major problems when internet companies sprang up to offer faster service and lower prices. Blockbuster failed to respond with a positive change and as a result they filed for bankruptcy. If I were the CEO of the company and had recognized the need for change, I believe I would have attempted to fine tune the organization. I would have refined processes for the customer to purchase or rent the product. To do this, they could have gone to an online streaming format such as the one that Netflix uses.…

    • 928 Words
    • 3 Pages
    Better Essays
  • Powerful Essays

    Blockbuster focused on market niche when they started decades ago renting VHS tapes. They used information systems to enable a focused strategy on a single market niche. Blockbuster targeted a specilized market which included a specific type of customers and provided a specified product to that customer. They focus primarily on renting out movies and games to people who like both.…

    • 1598 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Gamble, J., & Thompson, A. (2011). Essentials of Strategic Management: The Quest for Competitive Advantage (2nd ed.). New York: McGraw-Hill Irwin. ISBN: 9780078137143…

    • 1889 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Blockbuster Case Analysis

    • 1004 Words
    • 5 Pages

    A. General environmental analysis: Initially Blockbuster business revenues consisted on movie rentals from stores and late fees charged for rentals. In August 2004, Blockbuster introduced an online DVD rental service to compete with the established market leader, Netflix, and to be able to keep up with the current trends and technology.…

    • 1004 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Blockbuster Case Summary

    • 4663 Words
    • 19 Pages

    rk Corporation (2011–present) Website www.blockbuster.com Blockbuster LLC, formerly Blockbuster Inc., is an American-based provider of home movie and video game rental services, originally through video rental shops (both owned and franchised), later adding DVD-by-mail, streaming, video on demand and cinema theater. [2] At its peak in 2004, Blockbuster had up to 60,000 employees and more than 9,000 stores. [3][4] Because of poor strategic planning, mismanagement and competition from other video rental companies such as Netflix and Redbox, Blockbuster lost significant revenue and filed for bankruptcy on September 23, 2010. [5] On April 6, 2011, the company and its remaining 1,700 stores were bought by satellite television provider Dish Network…

    • 4663 Words
    • 19 Pages
    Better Essays
  • Better Essays

    Blockbuster is a leading global provider to customers of in-home movie and game rentals (Hitt, 2010, p. 71). This industry has undergone changes with new technology that has been developed. Blockbuster’s ability to change its strategies in order to take advantage of these new technologies has been…

    • 1564 Words
    • 7 Pages
    Better Essays
  • Better Essays

    The success of Netflix forced Blockbuster to see the growing popularity of rent-by-mail formats. In 2003 Blockbuster launched a rental subscription program, which would allow subscribers to rent an unlimited number of movies during the subscription period like Netflix, but with Blockbuster there was no waiting for movies to arrive. Blockbuster also fine-tuned its rental program and introduced a no-late-fee policy to compete against the growing number of subscribers to online rental companies. In 2004 Blockbuster moved into the online rental market in the United States so it could directly compete with rent-by-mail companies like Netflix. Blockbuster also allowed online subscribers to rent two free movies from their brick-and-mortar stores every month. This was done to keep customers coming to their stores and to overcome customer complaints about waiting for movies to arrive. In another attempt to gain ground on rent-by-mail companies Blockbuster started fulfilling online rental orders through 1000 of its local sores to create a more efficient service. Blockbuster saw how popular rent-by-mail companies were becoming and had to change their strategic plan to compete with this new threat to their company.…

    • 1297 Words
    • 6 Pages
    Better Essays
  • Good Essays

    Founded in 1982 and headquartered in Dallas Texas, Blockbuster Inc. is one of the top rental/retail providers of movies, video game and media entertainment in the world. Its competitors include Amazon Video on Demand, Netflix and Hastings Entertainment Inc. The company also competes with a variety of cable providers’ video-on-demand services.…

    • 387 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Blockbuster Case Study

    • 3799 Words
    • 16 Pages

    In the brick and mortar movie rental industry, Blockbuster is clearly the leader. With the merger of Hollywood Video and Movie Gallery, that leaves on two major players in the brick and mortar movie rental industry. Essentially, this has created many barriers for traditional mom-and-pop video stores to maintain consistent revenues or expand and open new stores, ultimately driving many out of business. In the early '90s, there were some 70,000 stores nationwide that rented movies, compared to 18,000 today (Graham). The appearance of a new brick-and-mortar competitor for Blockbuster is an unlikely event.…

    • 3799 Words
    • 16 Pages
    Powerful Essays
  • Powerful Essays

    Blockbuster Video Analysis

    • 1637 Words
    • 7 Pages

    Blockbuster opened its first store in 1985 and has grown to become the world 's number one video chain. Blockbuster is open 365 days a year with 9,800 stores worldwide. Customer base has risen above 50 million in the United States as well as several million more worldwide. The Gallup Organization, known for the Gallup Polls, declared that Blockbuster has 100 percent recognition. Most importantly, 70 percent of the population in the United States lives within ten minutes of a Blockbuster store. Category killers, however, usually attract customers from far distances. Because most customers are ten minutes away, small businesses in competition will fail.…

    • 1637 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Block Buster

    • 4592 Words
    • 19 Pages

    The case covers Blockbuster’s emergence in the video rentals market. After detailing the intricacies of the video rental market, the case takes a deeper dive into Blockbuster’s business model, based on brick-and-mortar locations throughout the US. This costly infrastructure has slowed the entertainment giant’s growth in an industry that has rapidly transitioned from the traditional store-based model, to mail rental and video-on-demand alternatives. The rapid transition of customer demand and the emergence of Netflix (Blockbuster’s main competitor) has incited Blockbuster’s rapid entrance into the video-on-demand market through the acquisition of Movielink.…

    • 4592 Words
    • 19 Pages
    Good Essays
  • Better Essays

    Netflix

    • 1642 Words
    • 7 Pages

    Netflix has continued to prosper in an incredibly fast-paced industry, still with so much room for growth (Appendix 2). With more than two-thirds of all households now owning a DVD player, Netflix caters to all different demographic groups across the United States. They have even reached a younger generation by syncing with the XBox Live gaming system. Unfortunately, there are some factors that keep Netflix from just continuing with what they are doing. Blockbuster has positioned itself in a relatively similar manner to Netflix, causing customers to second-guess which one is better.…

    • 1642 Words
    • 7 Pages
    Better Essays