End of An Era: Blockbuster to File for Bankruptcy

According to the WSJ; and other credible news sources, Blockbuster is currently preparing to enter a Chapter 11 bankruptcy process. This comes after months of speculation about their inability to compete with rival substitute products such as Netflix and Redbox.

Instead of changing their business model and looking for ways to innovate, Blockbuster finds themselves behind in an industry that has passed them by. Innovation is such a key to winning in a competitive marketplace. Companies should give employees the power to come up with ideas for continuous improvement; Google and Toyota are both examples of amazing companies who use employees to foster innovation.

It is also important to constantly assess your industry using tools like Porters Five Force analysis. If Blockbuster had assessed their industry semi-annually or yearly maybe they would have came up with the Redbox model first; as opposed to copying the model once they recognized the threat.

Although Chapter 11 is not the end-all for some companies, MOST never recover! I'll be watching to see how this situation turns out!

XOXO

I'm competing in a MBA Case Competition!

Yes! I'm still here...

I know my blog posts have been scarce lately, the main reason being that school has now started; I have two classes this semester and I am competing in the first ever Case Study Competition for the National Black MBA Association, Chicago Chapter!!

The competition is Oct. 1st at UIC and the prize is a $9,000 scholarship for the winning team! Below are some tips that have helped my team and I along our pursuit...

   1. Know the case backwards and forwards before you begin your case study analysis.

   2. Give yourself enough time to write the case study analysis. You don't want to rush through it.

   3. Be honest in your evaluations. Don't let personal issues and opinions cloud your judgement.

   4. Be analytical, not descriptive.

   5. Proofread your work!

XOXO

Twitter Launches Redesigned Website

Evan Williams, CEO of Twitter announced via Twitter (how cool) that the company will re-launch their website to be a "faster, easier, richer way to discover what's new in the world."

The new interface adds multi-media into the online Twitter feed-an enhanced sidebar that displays images, video and user profile information without leaving your news stream, as well as updating the look and feel to be more in line with Twitter apps. (See image above)

I have mixed feelings on an updated Twitter website. Part of me agrees with a redesign because the existing website is terrible-everything from layout, to design and user friendliness currently sucks! In fact mobile Twitter apps are far easier to use than the current website.

But I think Twitter should keep site updates/versions to a minimum. They should take note from their competitor Facebook, that new is not always better. Every since the last Facebook redesign (maybe 6-8 months ago) I hardly ever visit the site!

If you're one of the people who've tested the new Twitter site let me know what you think!

XOXO

Redbox Celebrates its Billionth DVD Rental with Free Movies!

This past weekend Redbox, DVD rental kiosk, rented its 1 billionth movie. To celebrate this accomplishment, Redbox is giving away free rentals for the rest of the month! Visit www.redbox.com/thanks to obtain a promotional code for one free rental per customer.

“One billion rentals is an incredible milestone as Redbox has quickly become the local video store for millions of consumers nationwide,” said Redbox president Mitch Lowe. “Our popularity is a testament to our consumers’ loyalty and our steadfast commitment to making movie rentals affordable and convenient for our consumers.”

I LOVE Redbox!!! And if you haven't heard, they are launching Blu-ray rentals for $1.50 to 23,000 kiosks this fall! Their business model is truly innovation at its finest. Cheers to Redbox!

XOXO