Block Buster Failure

Not all companies start out as failures or destined for greatness. The key to a company being profitable for many years is the ability to adapt to a ever changing world. Block Buster was a company in that operated in the late 1980's till 2011 that provided a movie rental service. It is a great example of a company that failed to progress, although the company was very successful when it was created its failure to adapt ultimately lead to its doom. In 2000 the founder of Netflix met with the CEO of Block Buster with an idea and potential partnership, by the end of the meeting he was laughed out of the room. Although Block Buster wouldn't declare bankruptcy for years this event showed its failure to adapt to a changing world. Although Block Buster was able to innovate a rental system that made getting a hold of movies much easier they failed to take the next step to stay at the top. If Block Buster had for example created a website and gradually transferred over, there is a good chance that Block Buster would still be around today.