Life Cycle of Blockbuster
Not a day goes by where some new technological breakthrough is born, offering bigger and better advantages to consumers. Unfortunately, this new technology does come with a price tag for companies that don’t have a clear understanding of the current stage of their business’s life cycle. Without understanding the four stage business life cycle plan, and where they currently sit, they have no way of knowing what lies ahead without being prepared. I have chosen Block Buster as the company whose life cycle I will compare against using Dr. Helen Eckmann’s ”Life Cycle of a Business” (Eckmann, p. 1). Dr. Helen Eckmann feels that “ Every organization works best when they have a clear understanding of their current stage in the pipeline, and can understand the strengths of their workforce in relationship to these stages” (Eckmann, p. 1). That being said, Eckmann also explains that most successful companies that have knowledge of these stages in the life cycle pipeline, have special units that are setup to compensate with innovative strategies to offset any studied declines that may be coming up. The life cycle of a business consists of four phases each of which have their own special features or challenges. All successful business must go through these phases more than one to be sustainable and consistently successful. These phases are: 1) Start-up: This can be defined as the birth or beginning of any business. The owner has invested both time and money preparing for the business’s future. The company in the beginning makes a lot of mistakes; this is a trial and error period. Internal and external environmental factors can have adverse effects to the baby company. 2) Driving: This is the adolescent stage where at times there is inner-turmoil. New ideas are constant with the understanding that mistakes come with the territory. Owners must be careful not to expand faster than their business can adapt to new changes. 3)...
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