Redbox Diversity Essay

Redbox was created to fill a customer need in the marketplace, renting low-cost movies in a convenient location. While the company was not profitable in the first two years due to the capital intensive nature of the inventory, it is now America's No. 1 choice for movie rentals and has over 27,800 kiosks across the country dispensing DVDs, Blu-ray, and video games. Redbox is located conveniently in over 400 retail partnerships, where customers can rent a DVD for only $1.00 per day. Redbox has responded to the challenges of continuously advancing technology by allowing customers to view kiosks' inventory and reserve items online, and search Redbox's database for the closest kiosk that has a desired item in stock. A diverse workforce is important

This type of environment has a strong significance because it allows for different types of ideas, thoughts, innovation, work, and engagement to occur. Utilizing diversity in a company’s workforce gives them a look into how different cultures and backgrounds perceive the need of customer service and product offerings. Having someone that is not originally from the United States as a part of a Team with those who are, allows for the flow of ideas to be very broad and reach a multitude of differences. Redbox having a diverse workplace gives them as a company a competitive advantage to rivals or new comers into this particular market. Employee diversity allows for a better understanding of Redbox’s customer base. The workforce being equally diverse as their customers allows for improved quality in their service to their customers. The diverse workforce recognizes that customers are primary the stakeholders of the company and Redbox’s diverse workforce gives the company more understanding of how to respond to needs of their customer

The major risks in the Redbox start-up that prevented venture capitalist from investing in the company was the fear of no profit and advantage to their business. The businesses were afraid that the Redbox wouldn’t grow their revenue and profits, while making a profit for Redbox. Competition from other providers, including those using other distribution channels, having more experience, better financing, and better relationships with those in the movie industry, than Redbox has, including traditional video retailers like Blockbuster, online retailers like Netflix, other retailers like Wal-Mart, pay-per-view, cable or satellite and similar movie content providers like Time Warner, and other forms of movie content providers like computer download sites. Changes in the sequential timing of when movie content is provided to the various movie content distribution channels; for example, studios may change, shorten or discontinue altogether the period they have historically provided between the time movie content is provided to more traditional video retailers usually directly after theatrical release and to other movie content providers such as pay-per-view, cable or satellite and computer download providers will usually only after a significant period of time following distribution to the more traditional video retailers, usually one month or longer. Changes in consumer content delivery preferences and increased