Research Paper On Blockbuster

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The most successful family owned company in the United States, Wal-Mart, held by the Walton family. Founded by Sam Walton, who died in 1992, later inherited by his son Rob. Being the chairman of the Board of Directors is not an effortless task, despite the difficulty Rob has successfully sustained the company above water. Although there are non-family members on the board, the chairman is still a Walton. Another example of a successful American family owned business is, the Ford Motor company, this company has three family members on the Board of Directors, one of which is the Executive Chairman, William Clay Ford Jr. A company is most likely to be successful if the family takes part in its rise, due to the fact that most family members can be trusted. The family will most likely hold the same values. Those who eat, sleep, and breathe the way you do will be honest with each other about an unacceptable decision …show more content…
There are numerous companies who start off in a successful manner, yet end up bankrupt after a year or less. A perfect example of a failed success story is Blockbuster. A company worth five billion dollars at its peak, was bought in two thousand and ten for two hundred and thirty-three million dollars. The company dominated the movie and video game rental industry for years, how did it fail? It failed due to its failure in adapting to the fast changing industry. Two companies can be held responsible for Blockbuster's quick fall, Netflix & Redbox. These companies brought an even more convenient form of securing entertainment. One allows you to subscribe and view as much as you want on any device possible, the other allows you to rent movies and video games from a vending machine for a low cost. While Blockbuster did do the same thing as Redbox, it was more expensive and it was not as convenient, nor did it accept the fact that going digital was vital for its success in the new

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