Blockbuster Video
Blockbuster Video
Kyle C. Cooper
MGT450: Strategic Planning for Organizations
Instructor Sandra Watts
22 October 2012
Blockbuster Video 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.
Blockbuster Video has been around for many years providing new and old movies along with video games to be either purchased or rented for a small fee. David Cook left the oil business to open his first store, “He opened the first Blockbuster store in Dallas in October of 1985…With more than 8,000 VHS tapes in more than 6,500 titles” (Poggi, 2010). The company kept growing and overcoming obstacles to stay alive and compete with new technologies. Cook sold shares in his store, went international and “by 1993 there were more than 3,400 stores and Blockbuster was looking beyond its core video chain business to fuel growth” (Poggi, 2010). But with competitors like Netflix and Redbox, Blockbuster went bankrupt in 2010. Dish network bought out Blockbuster after they filed for bankruptcy early in 2012. The new Blockbuster and its partner, Dish Network, have been working hand in hand to beat out Netflix and other DVD
Kyle C. Cooper
MGT450: Strategic Planning for Organizations
Instructor Sandra Watts
22 October 2012
Blockbuster Video 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.
Blockbuster Video has been around for many years providing new and old movies along with video games to be either purchased or rented for a small fee. David Cook left the oil business to open his first store, “He opened the first Blockbuster store in Dallas in October of 1985…With more than 8,000 VHS tapes in more than 6,500 titles” (Poggi, 2010). The company kept growing and overcoming obstacles to stay alive and compete with new technologies. Cook sold shares in his store, went international and “by 1993 there were more than 3,400 stores and Blockbuster was looking beyond its core video chain business to fuel growth” (Poggi, 2010). But with competitors like Netflix and Redbox, Blockbuster went bankrupt in 2010. Dish network bought out Blockbuster after they filed for bankruptcy early in 2012. The new Blockbuster and its partner, Dish Network, have been working hand in hand to beat out Netflix and other DVD
References: About.com (n.d.). About.com, Retail Industry. Blockbuster Company Mission Statement - Media Entertainment, Local Convenience. Retrieved from http://retailindustry.about.com/od/ retailbestpractices/ig/Company-Mission-Statements/Blockbuster-Mission-Statement.htm Abraham, S. C. (2012). Strategic management for organizations. San Diego, CA: Bridgepoint Education, Inc. ISBN: 9780984182381 Shedd, D. (April 19, 2011). 9 Keys To Driving Cultural Change. Retrieved from http://articles.businessinsider.com/2011-04-19/strategy/30041426_1_culture-change-customer#ixzz29wcg2k16 Poggi, J. (23 September, 2010). Blockbuster 's Rise and Fall: The Long, Rewinding Road. Retrieved from http://www.thestreet.com/story/10867574/6/the-rise-and-fall-of-blockbuster-the-long-rewinding-road.html