“FORMATIVE ASSESSMENT 1 [100 Marks] Read the extract below and answer ALL the questions that follow The internet didn’t kill Blockbuster, the company did it to itself. The video-rental company Blockbuster was at its peak in 2004. They survived the change from VHS to DVD but failed to innovate into a market that allowed for delivery (much less streaming). While Netflix was shipping out DVD’s to their consumer’s homes, Blockbuster figured their physical stores were enough to please their customers. Because they had been the leader of the movie rental market for years, management didn’t see why they should change their strategy. Back in 2000, the founder of Netflix Reed Hastings proposed a partnership to the former CEO of Blockbuster John Antioco. Netflix wanted Blockbuster to advertise their brand in the stores while Netflix would run Blockbuster online. The idea got turned down by Antioco because he thought it was ridiculous and that Netflix’s business model was “niche business”. Little did he know that Hasting’s idea would have saved Blockbuster. In 2010 Blockbuster filed for bankruptcy and Netflix is now a $28-billion-dollar company. The Forbes article aptly describes what exactly happened to Blockbuster, “The internet didn’t kill Blockbuster, the company did it to itself.” Source: ( Discuss how Blockbuster failed to innovate at the time; and how they could have restored brand equity. A brief introduction is included. A good understanding of factors that lead to companies failing to innovate, is essential(500 words) “

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“- **IBSA’s Focus**: IBSA (India, Brazil, South Africa) emphasizes trilateral cooperation among democracies from different continents. – **Geopolitical Diversity**: IBSA offers a platform for South Africa to engage with emerging powers from diverse regions, unlike BRICS which mainly focuses on Eurasia. – **Potential for Influence**: South Africa can wield more influence within IBSA due to the smaller size of the grouping compared to BRICS. – **Shared Development Goals**: IBSA prioritizes development cooperation, aligning with South Africa’s socio-economic challenges and development agenda. – **Cultural and Historical Ties**: South Africa shares cultural and historical ties with both India and Brazil, facilitating stronger collaboration within IBSA. – **Flexibility and Agility**: IBSA’s smaller size allows for quicker decision-making and more agile responses to global challenges compared to the larger BRICS bloc. – **Less Competition**: South Africa may face less competition for attention and resources within IBSA compared to BRICS, where China’s dominance is more pronounced. – **Limited Economic Power**: IBSA’s combined economic power is smaller than that of BRICS, potentially limiting its impact on global economic issues. – **Complementary Nature**: South Africa can leverage its strengths in certain sectors while benefiting from India and Brazil’s expertise in others within the framework of IBSA. – **Potential for Regional Integration**: IBSA could serve as a platform for South Africa to strengthen ties within its own region (Africa) through trilateral cooperation initiatives.”

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