INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Blockbusters failed to address the threat of Netflix as they had no digital content available online. Why did this happen?
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Failure to plan/Lack of strategy.
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Failed to satisfy the needs of customers
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Both answers are correct
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None of the above
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Explanation:
Detailed explanation-1: -In 2000 Blockbuster failed to acquire Netflix for only $ 50 million. This was a miscalculated decision; Netflix became their main challenger years later. This decision, plus several other missed opportunities to change with market, led to Blockbuster’s demise.
Detailed explanation-2: -In 2000, Blockbuster made the first mistake that would mark its demise: The company decided not to buy Netflix. Blockbuster considered buying the popular Netflix service for $50 million, but the company decided to not make the purchase. Netflix went on to become even more popular and more profitable than Blockbuster.
There is 1 question to complete.