Updating your business model
Technology is the greatest driving factor within the business environment currently, it is important to ensure that your business is keeping up with the technology and developing with the changes. Change can be a learning experience, but if you aren’t taking a step forward, you are going to be one step behind the competition.
As the iconic Blockbuster stores in America are shutting down their stores, this real life example shows that as technology changes, it brings new competitors into the market and forces timeless business to innovate and keep up to date with the technological trends. Blockbuster has seen to update with the market but as they have recently closed down their remaining stores in America, it bring to thought how long until there is no longer blockbuster or video ezy in Australia.
Blockbuster has understood that the globalisation of the video market, Netflix has allowed customers to stream video from their website at a low cost of $8 per month for unlimited videos, effectively shutting Blockbuster out of the market.
If you would like further information please contact the Bottrell team in Newcastle or East Maitland.
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Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
Our group of businesses & links include the following companies (& our websites);-
- Bottrell Accounting & Taxation – Visit out website
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