Circuit City: A Failure Of Industrial Organization Theory
252 Words2 Pages
Due to a failure by Circuit City to both recognize and then react to threats from outside competition and changes in the industry the company did not have a good Industrial Organization Theory in place. Industrial Organization Theory is defined as influences from the industry that the firm must adapt to in order to not only survive, but prosper (Book). Circuit City failed to react as competition from direct competitor Best Buy began to take business from them, as well
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The organization was able to implement corporate strategies with their plans for the industry it works with. Due to industry changes there has been a struggle with Business Pub being able to keep up with the changes in the advancing business market.
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One person was even surprised that they were still in business. This wasn't necessarily Gamestops fault because every store dies down after a while. This was the actions of their customers. All that Gamestop can do is continue to sell their products. There are 3 times when Gamestop gets most of their customers.
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I would of waited until we were able to afford another location even if it took a couple of years because being profitable is better than being in debt. I honestly don’t know why they did this, but it was a dumb mistake on circuit city's behalf. Some other problems that concern me about the circuit city where its locations. Many of the locations were in bad areas or close to competitors like best buy and circuit city couldn’t really keep up with them. Circuit city also just had bad business ideas or predictions because circuit city used to be in the appliance business, but later switched to a horizon format which allows customers to browse ales instead of being able to search the floor more
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Andrew Carnegie was born in 1835 and died in 1919. He emigrated from Scotland at the age of 13 and worked at the Pennsylvania Railroad in 1853. There he gained knowledge of iron manufacturing the rails, railroads, bridges and how to manage a company. By 1856, he was investing money in different business, only 4 years after his first investment. Andrew Carnegie built his monopoly using experience he had gained from previous jobs and a method called vertical integration.
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