The Key Theme Of Nostalgia Cultural Studies Essay

The Key Theme Of Nostalgia Cultural Studies Essay Nostalgia has always been a key theme in design work now. It seems to have become even more prevalent during the recession, a way of creating a comforting, aestetically pleasing and childlike environment to live. Nostalgia is so important to people its a way of collecting souvenirs and memories of the past For many people their childhood was a happy time, kidstons prints have a very childlike aesthetic. Cowgirls, simple spots, floral, very soft femine homely feels. Cath kidston has become the queen of this nostalgic revival her prints have become as ubiquitous over the last 10 years as Ashleys romantic prints were in the 70,s.ppezoe wood guardian.co.uk . Cath kidston is the new laura ashely, claimed Lorna Hall, the retail editor of the fashion trends website WGSN.The brand keys into the same aesthetic, with its dream like nostalgia, for many it is a way of nest without all the hard work involved in nesting Woman of today are embracing the domestic housewife idyll. With the change in economic climate people have started to eat in more, stick with and re decorate their homes instead of moving, women have tapped into the make do and mend, bake your own cake mentality. Cath kidston has very successfuly tapped into the zeigest of her time, when she started her business in 1993 she was the pioneer of retro prints, hand embroidered cushions, white washed furniture, so what made her take off so well? Its because people liked what they saw her products were practical, quirky, affordable and pretty all qualities which appealed to the domestic women of today. Her prints are now available, on nokia phones, tesco carrier bags, sky boxes and Roberts radios. This movement into different fields gives kidston and even broader client appeal. Design is becoming increasingly popular within society governments are becoming more aware of its importance to society as a whole. Successful design creates larger profits eventually leading to larger economic growth. an obsession with design and style among so many in Britain during the 1980,s is a mask or compensation for a spiritual lack vii Design history and the history of design. At times of economic recession consumers seek solace from their financial situations and revel in consumerism. good design is not simply a question of taste or style, it is literally a matter of life and death vii Design history and the history of design. Design is so important because it is a blend between art and industry. Its the showcase for creativity which intern creates customers and profits. Design is the conscious effort to impose meaningful order Page 31 Design History and the history of design. Design is such an integral part of human life. Maybe the style in which we choose for our homes, clothing, cars alters our own and others peoples perceptions of us. This is probably why when one trend surfaces and begins to flourish other people tap into it and it becomes a new style trend over night gradually large numbers of society tap into its idyll. People like to feel part of society as a whole, probably why businesses such as Cath Kidston are s successful. Her idyll is the chintzy nostalgic domestic housewife, and she has been so advantageous for such a long period of time.Art historians considered style vital because they thought of it as the outward manifestation of the inner being of a person, social group or an age pg 153 Design history and the history of design. When people look into a certain style and trend they can gain an enormous amount of information regarding cultural, ethical, social, moral and economic factors. Nicos Hadjinicolaou describes style as a particular form of the overall ideology of a social class pg 153 Design history and the history of design. If people begin to understand these changes in style and design they will become more aware of cultural evolution as a whole. The way in which products are styled and advertised has become as or more important that the object itself. As soon as a product is deemed off trend or too dominant within the market people migrate onto the next new thing. Its likely that when this change happens within one design form the others alter with it. People begin to manifest their general feelings and emotions through changes in style to their clothes, homes, cars. Increasing affluence and social mobility has enabled whole sectors of society to purchase lifestyle off the pegp167 in terms of social function, a lifestyle offers a sense of identity but it is also a device for reducing the anxiety caused by having to much choice p168. This could also identity why one trend kicks off, why so many people follow it because they to wish to spend time and effort identifying an alternative. Brands are merely a badge, a promise of quality, an assurance of consistency. http://brandcameo.org/features_effect.asp?pf_id=249 . We as the consumer buy into this mentally so well because we believe the whole ethos a retailer is selling us, we home in on elements that fit our own aesthetic and then purchase things accordingly. Some people dont want to follow trend .. i want to make my own statement rather than borrowing something from a fashion retailer The woman may have made this statemenjt because people dont like to be controlled or told how to thing, or how to shop. Sometimes the message are subconsciously viewed and our desision naltered even without us knowing. . Ernst and Young show that over 90% of products try and fail to become brandsif there was any element of control or influence there wouldnt be that kind of failure rate this quote shows which products fail and which succed to become brand trends, is completly down to the transient climate at the time, people attitude s and economic climate oh and possibly luck. Consumers are bombarded with an estimated 3000 marketing messages a day, which they chose to conform with consciously or subciously. A persons home is not merely a representation of trends of the day but a visualisation of the person itself, .. homes become material manifestations of their personal identitiespg73 Interior design and identity. This is probably why people invest so much time and effort in creating a home which represents them well, as the sort of person they want others to see them as. Conforming to social trends is a may of a majority showing its power over the minority. Jan Constantine is another interior textile designer who seems to have weathered t he current recession well, her work has gone from strength to strength. Her work has been published in many homes magazines, she seems to have tapped in on the union jack phenomenon which swept Britain in the early summer, and is still prevailing now. The Union Jack style, has did the Union Jack go from chavvy to charming? Annie Deakins. The connotations of the Union Jack have altered in the last few months from tacky or an emblem for the BNP to a high street patriotic trend. Large retail companies such as Debenhams and Topshop used it in their summer collections, when brands like this tap into a trend the majority of the high street follows. These companies are described as Barometers for our countries thinking. The union jack had also become a sign for all this British, tea parties, picnics, street parties, Its a simple that unites people and represents British values and traditions. The colour way o f the flag has been altered in some designs even recreated in floral patchwork. Jan Constantine concept is that her products are Designed for today, destined to be heirlooms of the future CrossSticher magazine. This comment implies a dislike of the throw away mentality of consumers today, she is tapping into the crafty bespoke aesthetic. Her work is hand worked and uses natural silks, cotton and linens .Constantines work was spotted Buy a Libertys buyer at the Country Living fair and thats how the phenomenon started, she is now also available in many yummy mummy shops around the country. As well as the union jack the word Love is another symbol used, Everybody really likes it, its my best seller! Theres something to say about that.This shows how people like words and symbols that provoke meaning and memories. Its also an aesthetically nice word to look at. On one hand at the present time there is the expensive, exclusive one off designs and on the other is the push towards design for all, accessible affordable and mass produced. At the moment there is a clear divide between these two methods of production, but the designs themselves can be relatively similar just the ethics and values behind them are altered. Once you have designed a Look it can be reproduced on everything, cushions, clothes, pencil cases, wallpaper. Covering from high end to cheaper mainstream. This way a trend becomes accesibble to all across the social economic scale and once a look has broken into the market it is often published in many fashion and interior magazines thus reinforcing the trend. Id have thought it was all about flexibility and agility the flexibility for designs to be used in multiple scenarios for multiple consumer groups, and the agility to quickly and easily modify designs to meet changed demands with minimal lead time and cost for both design and manufacture all requiring a degree of standardisation and componentisation of design parameters Multi channelling retail has made it even more accessible to purchase products, For most interior design companies, there products are available, through shops, via the internet and by catalougue. People can now access the internet via their phones, This wealth of information probably means new designs filter out in the mass market much quicker than they did a decade ago, but this could also mean thing that become on trend become unfashtionable even quicker. There has been a movement towards the anti brand which is concerned with sustainability and recycling, and a lengthened life cycle of a product.

Corporate Veil Essay

In the main, traders and business people are risk averse; as a result, in whatever they do they always fight for risk minimization. The aforementioned factor –i.e. of minimizing risk- contributes, to a significant extent, for the decisions by traders and businessmen to forming companies. Consequently, traders and businessmen will see as the main attraction of forming a company the advantage of avoiding liability for business debts. This advantage arises from the concepts of separate legal person and limited liability which are embodied in the doctrine of corporate veil under company law. However, some businessmen, law scholars and the public at large argue that corporate veil is nothing but a fallacy meant to dupe business people into a false sense of security. The following presentation seeks to discuss this assertion, bringing out the significance and exceptions of the concept of corporate veil. The doctrine of corporate veil emanate from the ruling of the case of Salomon vs Salomon 1897, whose facts are as follows: Aron Salomon was a successful leather merchant who specialized in manufacturing leather boots. For many years he ran his business as a sole proprietor. Salomon decided to incorporate his business as a Limited company, Salomon & Co. Ltd. Mr. Salomon himself was a managing director who owned 20,001 of the company’s 20,007 shares – the remaining six were shared individually between the other six shareholders (wife, daughter and four sons). Mr. Salomon sold his business to the new corporation for almost  £39,000, of which  £10,000 was a debt to him. He was thus simultaneously the company’s principal shareholder and its principal creditor. The company almost immediately ran into difficulties and only a year later the then holder of debentures appointed a receiver and company went into liquidation. Its assets were sufficient to discharge the debentures but nothing was left for the unsecured creditors. The liquidator argued that the debentures used by Mr. Salomon as a security for debt were invalid on the grounds of fraud; hence Salomon was not a genuine inco rporator. The foundation of company law came by the ruling made by the House of Lords in the Salomon case. It was held that Salomon’s company was a legal person separate from Salomon and since Salomon had become a secured creditor of the company, he had to be paid first before all other creditors. Once legal personality was established, the issue of shareholding could not  be necessary. In concurrence with the Houses‟ (court) finding Lord McNaughten at P 51 said; â€Å"The company is at law is a different person altogether from the subscribers†¦..and though it may be that after incorporation, the business is precisely the same as it was before and the same persons are managers and the same hands receive profits, the company is not in law the agent of the subscribers or trustee for them. Nor are the subscribers as members liable, in any shape or form, except to the extent that in the manner provided by the Act†. It is always hard to exaggerate the significance of the case of Salomon Vs Salomon and Co Ltd in terms of its contribution to company law globally. By re cognizing an incorporated firm as a corporate legal persona, it led to the creation of the corporate veil which brought a hatful of benefits to the business people. A corporate veil is defined as a legal concept that separates the personality of a corporation from the personalities of its shareholders, and protects them from being personally liable for company’s debts and other obligations (m.businessdictionary.com). In other words, the corporate veil can be described as being the separation between a company and its members. Due to the separate legal status of a company from its members this is usually very strictly maintained. This will, on the other hand, provide a true sense of security to business people. As a separate legal persona, a company has; a limited liability, perpetual succession, ownership of property, rights and obligations in its own name and easy borrowing means as its features which are of great importance to investors and other stakeholders. These features make a company enticing to business people. The corporate veil plays a pivotal role in maintaining the corporate legal persona status of a company, hence providing entrepreneurs with a less risky means of pursuing ideas and projects in the business world as they enjoy the benefits arising from the characteristics of the concept of separate corporate persona. One of the benefit arising from an incorporated company that of limited liability. According to Anton Behr, â€Å"Stand behind the veil of incorporation is the principle of limited liability that the court will use to prescribe that a company will be responsible for all the debts that have been incurred instead of its shareholders or members. In the case of Tatro v. Citigroup, Inc. D.R.I. March 15, 2010 where the courts recognized limited liability  of manager under Georgia law and dismissed claims against manager because complaint did not allege facts plausibly suggesting direct knowledge or personal involvement by manager in alleged fair credit reporting violations by the limited company. This gives the shareholders a great level of security. They are able to profit from the successes of the company whilst being safe in the knowledge that their personal liability is limited to the value of the shares they have purchased. Limited liability is even enforced in S7 of company act. H owever, it may not be attractive to potential creditors who may require additional security for their loan. Furthermore; a company, through the effect of the corporate veil, holds property in its own name as illustrated in the case of Macaura v Northern Assurance Co ltd (1925) wherein Mr Macaura had insured timber under his own name and this was then destroyed by a fire. When Mr Macaura claimed for compensation, his claim was rejected on grounds that he did not have insurable interest since a company is a separate legal persona distinct from Macaura. As a result, by owning its own property, a company gives more security to its members than if when a leaving director was able to enforce a sale and division of any company property he owned. Pursuantly, the shareholders’ investments are made more attractive and secure. However, this may be to the detriment of a trader as in Macaura case. Another benefit flowing from the concept of corporate veil is of efficiency. As soon as it is recognised that a company is a distinct, legal person in itself then the company can create contracts in its own name. As a result, trade is made simpler when it involves complex commercial organisations. Members of different races and background can also benefit in trading in some areas where they are not personally allowed under the shield of the corporate veil. For example in the case of Dadoo Limited V Krugersdorp Municipality where there existed during the apartheid regime legislation which prohibited non-whites from owning land in a certain area which was reserve for whites only. Mr Dadoo was an Asian and he formed a company called Dadoo Limited and it bought land in the white area and set up business there. The municipality sought to enforce the legislation and remove Dadoo from the place. It was that Dadoo Limited was a company and enjoyed legal personality separate from its members. A company could not be said to be white or Asiatic as race/ colour did not have any effect on the legal personality of the company. Equally important, the company can sue or  be sued on its name as illustrated in the case of in the case of Foss v. Harbottle (1843). Held: The action could not proceed as the individual shareholders were not considered as proper plaintiff. He held that a wrong was committed against the company, and only the company could ta ke the legal action. The members did not have legal standing to sue the wrongdoers because the members and the company were separate legal entities. By shielding the company from its members, the corporate veil enables perpetual succession of an incorporated company. It can only be subsequently terminated by the law the conditions for which are specified in S206 of CA 24-03. Unlike people, companies are immortal and will continue to exist after the exit or death of its members by the process of perpetual succession. Even if all the members die, it will not influence the privileges, immunities, estates and possessions of a company. The principle of perpetual succession is clearly illustrated in the case of Re Noel Tedman Holdings Pty Ltd (1967).The company had a husband and a wife as its only shareholders. They were also the company’s directors. They died in an accident, leaving behind an infant child. After their death the company was still in existence. The problem that arose was, as the shareholders and directors had died, the shares could not be transferred according to the will of the deceased to the infant child. The court thus allowed the personal representative of the deceased to appoint directors of the company, so that these direc tors could allow the transfer of the shares to the child. Therefore, the company may even continue to exist despite the death of all its shareholders and directors. It will last until it is deregistered or ‘wound up’ On the contrary; even though the corporate veil is one of the main advantages of establishing a company as it will provide a liability protection against lawsuits and creditors, it also crucial to note that there are times where there are some exceptional circumstances where the court would ignore it and strip the company members’ and shareholders’ limited liability that they enjoy. This is called the â€Å"lifting of the corporate veil,† which is defined as a legal decision which will treat the rights and obligations of a corporation as the rights or liabilities of its owner. In this case, the members will be responsible in carrying out their fiduciary duties towards the company. If they act in bad faith, the court will lift the company veil and they shall have a personal liability  (ammango molly.blogspot.com) Lifting the corporate veil writes off the sense of security once instilled in business people. Generally, the corporate veil is lifted through two ways namely by judiciary evasion and statutory evasion. The former involves the use of common law to lift the veil. The courts have the following exceptions to peep behind the corporate veil: Firstly, where there is fraud and improper conduct. The Courts will not allow the corporate veil to be used as an engine of fraud. The Courts have been more that prepared to pierce the corporate veil when it fells that fraud is or could be perpetrated behind the veil. This is shown in the case of Gilford Motor Company Ltd v. Horne. Mr. Horne was an ex-employee of The Gilford motor company and his employment contract provided that he could not solicit the customers of the company. In order to defeat this, he incorporated a limited company in his wife’s name and solicited the customers of the company. The company brought an action against him. The Court of appeal was of the view that â€Å"the company was formed as a device, a stratagem, in order to mask the effective carrying on of business of Mr. Horne†. The Court of appeal regarded it as a mere sham to cloak his wrongdoings since it was clear that the main purpose of incorporating the company was to perpetrate fraud. Secondly, courts also lift the corporate veil where the principle of corporate personality runs contrary to state interests. This exception supports the concession theory which holds that legal personality is just a concession by the state or a privilege granted by the state which the state may withdraw at any time. For example, as was held in case of Daimler Company V Continental Tyre Company. Daimler was a German company and during the course of the business, it came to be owed money by continental Tyre Company. World War 1 broke out and Daimler Company claimed the money owed to it by Continental Tyre Company which refused to pay arguing that since Daimler was a German Company and German was at war with England, paying Daimler Company the money would be tantamount to trading with an enemy. The court upheld the argument. The courts may also apply the agency construction to lift the corporate veil by holding that a wholly owned subsidiary would be acting as an agent of the holding co mpany. This was clarified in the case of DHN Food V London Borough Of Tower Hamlet. There were two companies, one holding the other a subsidiary. The subsidiary was wholly-owned but using land which belonged to the holding  company. The municipality wanted to compulsorily acquire land but it was supposed to compensate the owner of the land if he disturbed him in business. The question was whether the holding company was disturbed in business. It was held that the holding company was entitled to compensation since the subsidiary company was acting as its agent. The corporate veil can also be lifted by the use of the Companies Act; this is known as statutory evasion. The following sections of the Zimbabwe Companies Act explain the situations on which the corporate veil can be lifted leaving the members of the company liable: Section 32 – imposes personal liability on a member who knowingly allows a company to carry on business for a period of more than 6 months without members. Section 58 and 59 – imposes civil and criminal liability for misstatements contained in the prospectus. Section 124 – imposes liability on directors who fail to properly hold statutory meetings. Section 126 – directors are liable for failing to hold an extra-ordinary general meeting. Section 186 – directors are liable for failing to disclose interests which they have in company contracts. Section 318 – directors are liable for fraudulent conduct of the company business. Consequently, lifting the corporate veil leaves the members of the company without security which is the reason why some people say the corporate veil is a fallacy. In the eyes of the law removing the shield of incorporation discourage business people from using a company as a vehicle of fraud hence serving justice. To sum up, it is certainly true that some of the implications of the corporate veil have proved damaging some of the time. However, it is submitted that the benefits generated as a consequence of the corporate veil hugely outweigh the negative effects that it has had. BIBLIOGRAPHY: GOULDING SIMON, COMPANY LAW SECOND EDITION 1999 MAVHUNGA. M. (UZ) CORPORATE LAW AND BUSINESS ADMINISTRATION STUDY PACK NCUBE LISON (NUST), COMMERCIAL LAW 1204 MODULE, 2014 COMPANIES ACT CHAPTER 24:03 www.lawteacher.netm.businessdictionary.com

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Operations Management Production Management - 1657 Words

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Cell Phone Industry Analysis - 3513 Words

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Unfortunately, this industry is in theRead MoreDifferentiating Between Market Structures in Kudler1564 Words   |  7 PagesConditions Competitive Analysis Jerona Green, Darlene Wilson, Bronda Perkins, Christopher Pollard ECO/365 April 8, 2013 Samuel Imarhiagbe Current Market Conditions Competitive Analysis In today’s society the cell phone market is a huge competitive industry for cell phone companies. There have been studies that show that half the world has cell phone accounts. One attribute that defines the cell phone market is the idea of consumers is giving up their land line phones. This has caused a

MAS 500 operating system Free Essays

MAS 500 operating system can increase efficiency in management. It was built up with Microsoft office and Visual Basic and has been seen as good financial accounting software. (Sage software) MAS 500 can integrate business intelligence; order processing, distribution and manufacture (Sage software) and is designed to help companies manage operations. We will write a custom essay sample on MAS 500 operating system or any similar topic only for you Order Now The software is dependable and reliable and covers all areas of e –business and can support large volumes of data and respond to growth in the business. (Tech target. 2008) MAS 500integrates with other applications and can be customised without programming. (Tech target. 2008) The disadvantage in its implementation is the cost involved to purchase the software and then train staff to use it. However, with the increased efficiency MAS 500 is often seen as a good investment reducing costs in the long run. The time taken to upgrade can be seen as a disadvantage as it cuts into business profits. MAS 500 have been seen that leading companies have taken this new software. Fortune Brands has upgraded and MAS 500 performs general ledger, accounts payable and cash management tasks. (Best software, 2003). MAS 500 can automate areas of business management such as core and advanced financials, customer relationship management, project accounting, time and expense tracking, wholesale distribution, discrete manufacturing, warehouse management, human resources, payroll, e-business and business intelligence. (TechTarget. 2008)MAS 500 is user friendly and allows most companies to run it quickly in less time then previous soft wares. (Best software, 2003) Thus the cost constraint would eventually be outweighed by the many benefits this software has to offer. References Best software (2003) A most admired company selects MAS 500 and ASP. Retrieved from the World Wide Web on the 14Th of November 2008:http://whitepapers. silicon. com/0,39024759,60040974p,00. htm Sage software. Sage MAS 500 retrieved from the World Wide Web on the 14Th of November 2008: http://www. sagemas. com/products/sagemas500/ Tech Target. (2008) Sage Software. Sage MAS500. Retrieved from the World Wide Web on the 14Th of November 2008: http://www. 2020software. com/products/Sage_MAS_500. asp How to cite MAS 500 operating system, Papers

Case Analysis Of Blockbusters And Netflix - MyAssignmenthelp.com

Question: Discuss about the Case Analysis Of Blockbusters And Netflix. Answer: Introduction The report is a strategy and case analysis of Blockbuster and Netflix.The report provides an institutional background on both the companies. Blockbuster has been a provider of rental services for video game and home movie based on America (Blockbuster.com 2018). The services undertaken by the company provided through rental shops, DVD via mail and on demand video. The company rose to international acclaim in the year 1990s. During the year, 2004, Blockbuster employed a large number of people from United States and other countries for an approximate 9000 stores. On the other hand, Netflix was an American entertainment company found in the year 1997 and located on the Scotts Valley of California. The company led by Reed Hastings and Marc Randolph specialized on providing streaming media and online video on demand as well as DVD via the system of mailing. However, by the year 2013, the company also expanded on television and film production in addition to its online distribution. There is also discussion how Netflix beats Blockbuster based on the changing technology, retail outlets versus online operation, strategy for pricing and innovations. The report also discusses about Netflix being the dominant provider of online streaming of videos (Netflix.com 2018). To explain the position of Netflix there is discussion on demise of Qwikster and rebuilding of Netflix and the rise of original content. The report also provides a vivid description on the future growth of Netflix. Institutional Background A Brief History of Blockbuster Blockbuster Inc. is one of the largest rental chains for providing videos around the world. The company provides game and movie entertainment on a rental basis. The company around 9100 video stores around United States , its 24 nations and territories that helps in serving around three million customers every day(Gershon2013). The initiation of the company was around the middle of 1980s as an alternative to the small and local operations that had a limited selection of video rental. The company transformed into a global chain in no time thereby offering DVDs, video games and videos either through its stores or through its online subscription program. The history of Blockbuster traced to Cook Data Services Inc found in the year 1982 by David Cook for supplying services related to computer software in the Texas oil and gas industry. After Cook Data Services Inc went in a state of bust, the owner sought other means of revenue generation by entering into a business that dealt with video rental. After several months of research into the industry of video rental, David Cook sold the software business related to gas and oil and entered into the business of movie rental. It was in the year 1985 in the month of October that Blockbuster was able to open its first outlet in the city of Dallas (Abraham2013). Around 8000 tapes covered around 6500 titles along with a huge inventory stock sufficient to give the nearest competitor a run for their money. The stores allowed the customers to choose before finally renting out. The first store of Blockbuster became an immediate hit that enabled Cook to expand his business by introducing three additional stores. The company however appeared to be in a flux during the year 2005 because of the litigation surrounding its policy of no late fees. Problems also cropped up because of the loss of income due to extension in the viewing fees, failed attempt to merge with Hollywood Entertainment Corporation and the efforts of Carl Icahn's in ousting John Antioco, the CEO. A Brief History of Netflix Netflix represents the leading internet service for entertainment around the world serving around 109 million members in 190 countries that enjoys around 140 million hours of movies and television shows including documentaries, original series and feature films. Members are able to watch on an unlimited basis anytime and anywhere provided there screen have an internet connection (Dixonand Graham2017). In addition, the members can also pause, play and resume watching without any kind of interruption. Marc Randolph and Reed Hastings found the company in the year 1997. Both were technology enthusiasts who had a successful career in setting of websites and thereby successfully running them. Therefore, they possessed a better idea for the creating of a website that would make it easier for people to rent and buy DVD while sitting at home. Around, $2.5 million invested by Hastings for starting the business in an improved manner. Netflix began its business in the year 1998 in the month of April. The company started with around 30 employees and made an offering of around 900 titles for the purpose of rent (Preuss 2013). The company also added newer titles for the purpose of sale by providing a discount of around 30 percent for attracting customers. The website of the company also provided the users with not only automatic suggestions and movie reviews that prompted them in renting out additional DVDs. After a month into the business, the company declared into entering a promotional venture with the Toshiba America that allowed renting out three DVDs on the purchase of a DVD player of the company. Other companies that went into a similar pact with Netflix included Apple, Hewlett-Packard, Pioneer DVD players and Sony. How Netflix Beat Blockbuster Changing Technology Changing technology was one of the reasons as how Netflix beat Blockbuster. Initially the stocks of Netflix tumbled with the introduction of the main delivery service by Blockbuster in the year 2004. Blockbuster, the largest video rental chain primary focused on the fact that its survival depended on conquering Netflix. However, in a matter of six years, the worst nightmare of Blockbuster was a reality when Netflix became the winner in the mailing business for renting DVDs. In addition to good leadership, the executives of Netflix understood that the emergence of technology contributed to a rapid change in the delivery of the movie rentals (McDonaldand Smith-Rowsey2016) compared to Blockbuster. This enabled Hastings in developing a virtual organization that focused on a strategy for internet streaming and convenience in customer service in a cheaper and flawless manner. Thus, Hastings proved himself to be far ahead of technology curve that helped him in molding the industry. Streaming of movies over the internet was another aspect that worked in favor of Netflix. Even when only few Americans had access to the broadband in the year 2000, Hastings believed that renting of the video cassettes would soon result in streaming of movies over internet. Netflix worked on a television box that helped in streaming movies with sixteen hours of downloading time. Blockbuster was also aware of the situation but refrained from taking a plunge. Instead, the company tried to enhance their sales through expansion of their outlets with toys, books and merchandize (Cook2014). Around the year 2005, better compression ofvideos and faster broadband lead to the eruption of the Web 2.0 sites and You Tube. It was during this time that made Hastings realize that it was high time for cannibalizing the rental business of DVDs in the favor of the streaming video. Hastings also ensured an open source approach followed by Netflix that would allow the company in distributing movies on DV D players, desktop computers and mobile phones. The company also did the unthinkable that helped the customers in giving up DVDs. Netflix thus allowed easier streaming of movies. Retail Outlets versus Operating Online Unlike Blockbuster, Netflix adopted the strategyof believing in online operation while avoiding the burden of the retail outlets. Netflix operated virtually with only a few offices and warehouses (Halal2015). Thus, the company had no retail store or sales employees. Netflix also has a smaller staff that operated on the sole idea of freedom and the culture of responsibility. Instead of authorized sick days, fixed work hours and vacations, Netflix allowed people to choose as long as their job done. In addition, the company also allows its staff to choose their titles and compensation. In the initial days of the internet, videos posted in the website as a link. The visitors of the website needed to download the complete file before playing it. The streaming of video brought about a change in this concept (Craig2013). In video streaming, the content served in a manner that allows the files to play almost immediately after it starts downloading. There are also special streaming servers that allow the viewers in moving backward and forward through the video file. The concept is undertaken put adopted by Netflix that is quite unlike Blockbuster. The streaming video technology adopted by Netflix is hard to copy and prevents user from saving a copy in their system. This allows the owners of Netflix in providing mental peace in distributing the content online. Pricing Strategies As far as pricing strategy is concerned Netflix improved the outmoded pricing and lackluster service of Blockbuster. Blockbuster charged around $5 for each of the movies and people usually hated the prices that the company imposed on them for the late returns. Contrary to this, Hastings made use of monthly subscription that allowed disallowed late fees and unlimited rentals (Cramer2014). The primary focus of the company was not on renting movies but on providing a convenient service. Thus, Netflix developed the best industry software that made it inviting for ordering movies online. Moreover, the website of the company was a representation of intuitive clarity and clean organization. Unlike blockbuster, Netflix also made use of the responses of the clients for recommending movies as per the individual taste. The company also offered prize money close to $ 1million to anyone responsible for improving the rating system of the company. Netflixs Innovations Netflix adopteddisruptive innovation to beat Blockbuster. Disruptive innovation described a specific manner in which smaller companies destroys the bigger rivals (Desouza, and Smith2014). Thus, disruptive innovation is a strategy undertaken by smaller companies to get a market share. In the year 1995, American scholar, business consultant and educator Clayton M. Christensen coined the term disruptive innovation. This type of innovation helps in creating a value network and new market thereby disrupting an existing value network and market and displacing already established alliances and market leaders (George and Lin 2017). There have been several kinds of disruptive innovation over the past decade that not only changed lives but also market. These innovations have gradually transitioned in our lives. Netflix acts as one of the example of disruptive technology. The first appearance of Netflix appealed to only a few groups of customers who were movie buffs who were unaware of the new releases, online shoppers and primary adopters of DVD players. During the initial days, the launch of the mail in service for subscription by Netflix did not look threatening for bigger companies like Blockbuster that ruled the market arena between the year 1980s and the 1990s. Everything changed with the growth of video streaming. The founders being already a market player proved to be advantageous for Netflix. The company was able to appeal to the core audience of Blockbuster through providing a wider greater option for content, lower price, higher quality and convenient approach. Disruptive companies like Netflix rose quickly since larger companies like Blockbuster overlooked it. This is because the strategy adopted by Netflix gave the bigger company an idea that they would not eat away on its customer base. However, eventually with time Netflix captured the market and proved to be a primary challenge Blockbusters. By the year 2016, Netflix totally captured the market of Blockbuster and had a net worth of around $1.2 billion (Preuss 2013). The only means by which Blockbuster could have fought Netflix was by introducing its own innovation of disruption. Will Netflix Remain the Dominate Provider of Online Video Streaming? Presently Netflix is the king of streaming video providers that provides a service that reaches close to 80 million users in around 200 countries (Walker et al. 2017). Live streaming drove millions of users in binge watching the entire seasons in just a couple of days. This has put Netflix in an enviable position compared to its competitors. The company has enough cash and a market cap in the range of $60 billion. There were enough talks about Apple being the acquirer of the company. Netflix acquires a dominant position however, there is enough confusion about whether the company will be able to maintain its position since increasing number of competitors are moving into the video streaming arena especially in America. Netflix Stumbles: The Demise of Qwikster The primary downside for Netflix was its decision of cancelling Qwikster. Before, the announcement of the DVD only service in September Netflix ensured the demise of Qwikster(Goldfayn2012). The CEO of Netflix, Reed Hastings, declared pulling plug on the Qwikster because of the confusion that would arise from having a completely segregated offering for only DVDs. He also went on to say that, Netflix and Qwikster, required two different websites for operation with no integration between the two. This would also create confusion amongst the users, as they needed to pay two different companies on a monthly basis, maintaining separate profiles and posting two movie reviews. Netflix decided to pull down the shutters of Qwikster since they learned from their users that maintenance of two websites would be a hindrance and would result in situations that are more difficult. Therefore, the decision to keep a single company that would not only be responsible for streaming but also ensure DVD rental service. This implied that there was no change and hence no Qwikster. However, Qwikster was unpopular from its early stage of initiation. The decision of launching Qwikster as a separate business for DVDs also led to the price hike in Netflix that resulted in controversy. With the thought ofQwikster, the monthly subscription plan of $9.99 replaced by two different monthly plans of $7.99 for unlimited video streaming and DVD renting respectively(Jethaand Berente2014). Thus, the customers who initially paid $9.99 per month would then have to pay $15.98. Netflix Rebuilds: The Rise of Original Content People in addition to subscribing to Netflix also have also developed a familiarity with the company(Bailey2016). Many of them associate Netflix with quality and express their willingness in acquiring the service. Companies like Netflix build their customer base on the basis of trust. This implies a big leap on the part of the customers as well. This is because more than knowing a service and actually subscribing for it is important whom the customer can trust and share the credit card information(Zetterberg, Davidssonand Johansson2015). Netflix has been a market disruptor and focused on the consumer needs for variety and convenience. To recover from the debacle, the brand took necessary corrective action in restoring customer trust and moved towards a trend of individualized environment. The brand equity built by the company helped it to recover its position in a matter of three years. The company suffered a major disaster due to the decision of its CEO in deciding to split the company(Wayne 2017). This outraged the customers and as a result by the third quarter of 2011 the company lost around 800,000 subscribers. The however ensured a rapid turnaround. Netflix also built a bond with the customers that only few companies are capable of. The company also has the capability of connecting with the customers at a deeper level that helps in driving attraction. Therefore, by the end of 2013, Netflix had around 44 million members which were higher compared to the previous years(Riquier2015). The company however expects to have more than 48 million members by the end of 2014. Netflix however faces major challenges since it is quite pricey to license the content and further expensive to produce the original content(Jenner2016). The company will also have to ensure making deals for paying the internet bandwidth required by its service. In spite of everything, the powerful brand equity gives the company an edge over the others. The Future of Netflix In future, Netflix is planning to spend on a program spree thats original. In addition to shelling out on big budget movies or favorite retreats of fans, the company is planning to pick up a dozen anime series(Kovalick 2016). This is a major step on the part of the company and is a major step towards global expansion. Flooding in the Zone: Compared to the previous years the company have plans of spending around $6billion in the coming years(Halal2013). This would help in making life so much simpler. There would also be a jigsaw map putting the regional licensing deals forward that would help in governing the anime offerings of the company. The company also made sure that in future when the contract of a program ran itscourse in Netflix then it would disappear regardless of watching. Ensuring a Global Appeal: In future, the country plans to make a global appeal. One step towards it was its flamboyant announcements of the adoption of program related anime in Japan that helped in creating ripples around the globe since the company targeted on making country specific shows(Baka2016). Netflix also targets in streaming shows that the entire world plans to watch. In ensuring this, the company ensures operation out of a black box. Trying to be Cheaper: The company had nearly $ 20 billion debt and liabilities therefore the company will try to seek out means that will ensure less expensive means of production (Cade, Koonceand Ikuta2017). Otherwise, a single season of a program known as the House of Cards would cost around $100 million for production. Conclusion The report ends by throwing a light on the future of Netflix. The report discusses about rise of Netflix after its debacle on declaration of separate website dedicated to only DVDs known as Qwickster. The report also throws a light on the fact on whether the Netflix will be able to maintain its dominant position. There is also discussion on how innovation, pricing strategy, changing technology and online operation worked in favor of the Netflix and helped the company in moving ahead of Blockbuster. The report gives an overview on both Netflix and Blockbuster. References: Abraham, S., 2013. Will business model innovation replace strategic analysis?.Strategy Leadership,41(2), pp.31-38. Bailey, M., 2016. 12 Will Big Data Diminish the Role of Humans in Decision Making?.Big Data Is Not a Monolith, p.163. Baka, V., 2016. Formative reputation: From being an organizational asset to becoming a process in the making.Corporate Reputation Review,19(2), pp.152-165. Blockbuster.com 2018.Blockbuster Video Stores On Demand Movies. [online] Blockbuster.com. Available at: https://www.blockbuster.com/ [Accessed 12 Jan. 2018]. Cade, N.L., Koonce, L. and Ikuta, K., 2017. Text versus Video Disclosure of Forward-Looking Information: The Effect of Non-Verbal Cues on Investors' Judgments. Cook, C.I., 2014. Netflix: A stepping stone in the evolution of television. Craig, C.S., 2013. Creating cultural products: Cities, context and technology.City, Culture and Society,4(4), pp.195-202. Cramer, B., 2014. Netflix: New pricing strategies.Bidnessetc, April,22 Desouza, K.C. and Smith, K.L., 2014. Big data for social innovation.StanfSocInnov Rev,2014, pp.39-43. Dixon, W.W. and Graham, R., 2017.A Brief History of Comic Book Movies.Springer. George, G. and Lin, Y., 2017. Analytics, innovation, and organizational adaptation.Innovation,19(1), pp.16-22. Gershon, R.A., 2013. A case study analysis of eastmankodak and blockbuster Inc.Media Management and Economics Research in a Transmedia Environment, Routledge, New York, NY, pp.46-68 Goldfayn, A.L., 2012.Evangelist Marketing: What Apple, Amazon, and Netflix Understand about Their Customers (that Your Company Probably Doesn't). BenBella Books. Halal, W.E., 2013.Forecasting the technology revolution: Results and learnings from the TechCast project.Technological Forecasting and Social Change,80(8), pp.1635-1643. Halal, W.E., 2015. Business strategy for the technology revolution: competing at the edge of creative destruction.Journal of the Knowledge Economy,6(1), pp.31-47. Jenner, M., 2016. Is this TVIV? On Netflix, TVIII and binge-watching.new media society,18(2), pp.257-273. Jetha, K. and Berente, N., 2014. Strategic Reactions: Corporate Responses to Social Media Consumer Movements. Kovalick, A., 2016, October.Looking Deep into the Future Infrastructure Prospects for the Media Enterprise in 2036. InAnnual Technical Conference and Exhibition, SMPTE 2016(pp. 1-17). SMPTE. McDonald, K. and Smith-Rowsey, D. eds., 2016.The Netflix effect: Technology and entertainment in the 21st century. Bloomsbury Publishing USA. Netflix.com. 2018.Netflix United Kingdom Watch TV Programmes Online, Watch Films Online. [online] Available at: https://www.netflix.com/in/ [Accessed 12 Jan. 2018]. Preuss, T., 2013, June. Mobile applications, function points and cost estimating. InInternational Conference on Cost Estimation and Analysis Association (ICEAA). Riquier, C., 2015. Reacting to the Connected Reality.Research World,2015(54), pp.36-38. Walker, R., Walker, R., Jeffery, M., Jeffery, M., So, L., So, L., Sriram, S., Sriram, S., Nathanson, J., Nathanson, J. and Ferreira, J., 2017. Netflix Leading with Data: The Emergence of Data-Driven Video.Kellogg School of Management Cases, pp.1-19. Wayne, M.L., 2017. Netflix, Amazon, and branded television content in subscription video on-demand portals.Media, Culture Society, p.0163443717736118. Zetterberg, M., Davidsson, P. and Johansson, M., 2015. Brand Equity for Service Brands Online.