Which of the following is a once successful company that did not adapt to a changing external environment?a.)Appleb.)Googlec.)Blockbusterd.)Amazon
Question
Which of the following is a once successful company that did not adapt to a changing external environment?a.)Appleb.)Googlec.)Blockbusterd.)Amazon
Solution
The answer is c.) Blockbuster. Blockbuster was once a successful company that dominated the video rental industry. However, they failed to adapt to a changing external environment, specifically the rise of digital streaming services like Netflix. As a result, Blockbuster's business model became obsolete and the company eventually went bankrupt.
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