Impact Of Technology On The Film Renting Industry And The Management Of An Organization Technological Assets

Media changes drastically over short periods of time because of digital convergence. Just in the past decades it has become much more advanced and useful for people all around the world. There has been an extreme advance in media technology, especially that used in film industry. This includes the creation of analog-to-digital converters, technology convergence, and the changes in the media industry and audiences. In this article, I will analysis how digital convergence impact on the film industry structure, forms of consumption with the innovation of revenue models and cultural production.

The movie exhibition industry dates back to the first ever movie theatre1, a commercial space which was created to show projected motion pictures. From then to the present age the movie exhibition industry has been successfully running businesses and the major four big players in this business are Regal entertainments, AMC Cinemas, Cinemark and Carmike Cinemas. The revenues of the these companies have been at a higher rate, but the movie industry is still finding many obstacles as the technology is becoming easily accessible to the common man. This paper will look into the various aspects of the movie industry, its environment and keenly look into their potential threats in the near future and give some strategic solutions for the presumed complications they might face.

Alongside the entrepreneur spirit, Innovation is the process of taking new ideas and implementing them into the market. Key word being “new”, an innovation can be sometimes viewed as the application to better solutions that meet new demand-requirements, inarticulated needs or existing market needs. Innovative ideas range from: goods, services, products, processes, services, technologies or ideas that create value for which customers will pay for. For an idea to be an innovation, it must be replicable at an economical cost and must satisfy a specific need. This means is that one must be ready and willing put their new idea to the test. On the other hand, there is recognition that “innovation is also critical to cultural, environmental, social, and artistic progress as well” (Bullinger, 2006). With this stated, high-tech innovation is ultimately the reason why we can be thankful for the many new conveniences of the 21st century. Although we might see the forefront of innovation being very prominent in today’s world, innovation is truly nothing new. From the start of modern man times, innovative ideas have paved the way for civilization to advance and develop into what we are today and at the same time, we have barely begin to chip away at the tip of the iceberg of our true human potential. Some scholars believe that innovation is a

Ambiguity in understanding innovation as a phenomenon makes the process of innovation arduous and uncertain. As a result, innovation occurrences in business and social contexts as and when required appear uncertain especially when the exigence for innovation at all levels of social life has been heightened by many folds, especially to face the challenges of the 21st century.

Key goals of this paper will be to provide a structure for thinking about innovation across the fields, highlight important streams of research on innovation, suggest interrelationships, and provide taxonomy of related topics.

Disruptive technology is a new way of doing something that initially does not meet the needs of existing customers. This type of technology tends to open new markets and destroy old ones. While, a sustaining technology produces an improved product that customers are eager to buy. This technology provides better, faster and cheaper products on established markets.

The places that innovative ideas come from can vary. The innovation process involves creativity of the mind. The ideas that surround innovation come from employees, customers, competitors and even your suppliers. Anything that deals with innovation is challenging. The purpose of this report is to identify the sources of innovation, how it affects industries and to evaluate disruptive innovation.

When the word disruptive is mention, I know that some of our minds automatically focus on something that causes trouble or deemed disorderly. However, as it relates to technology in the area of higher education, it is important that we focus on the positive aspects of the word disruptive. Disruptive Innovation can be described as an upgrade to services that we already provide. This upgrade can be seen as more efficient, inexpensive, and easier to access.

Disruptive technology brings about many opportunities for both innovation and productivity outputs, however it can also be a risk. It includes developments that create substantial change across the economy for most people and businesses, the impact of which causes significant costs to adjust to due to capital being made obsolete and workers becoming underutilised. Clayton Christensen is considered to be the world’s top expert on the concepts of disruption innovation and technology and according to him the ‘introduction of digital disruption offers a better alternative to the present approach for solving customer problems’. Digital disruption is redefining the norm, changing both markets and competitors around the world. Whilst it can be a positive change for

Over time, companies desire to improve their products in the market which may involve changing the quality of their products and consequently increasing the costs. While customers would want the improved products, they often are unprepared meaning that they may shy away from purchasing such products. In this case, emerging companies tend to take advantage of such a market and introduce concepts that would be appealing to the customers and hence overpower the existing companies (Magretta,2012). Markides (2006) explains that disruptive business models are the decisions that a company makes that enables them to outshine or be above competitors in an individual market. The disruptive model focuses on disrupting the existing market and making the customers prefer the new company as opposes to the others (Magretta,2012). In this case, change of infrastructure can affect the way business is done. For example, transport companies can choose to implement a train station in a very congested road network to gain a competitive edge and also ensure that customers travel with ease.

However, the process of innovation is closely linked to the understanding of innovation – whether it is an act of bringing changes or consequence of an action which represents changes. It is easily understandable that any particular action does not ensure the same outcome but may bring changes, and all changes are not considered innovation. So, it is imperative to develop a clear understanding of the concept for proposing a generalized process of innovation.

What Christensen means is that using the words “disruptive innovation” in a non-jargon way is very difficult, as even Uber, the company most pointed to by many as the epitome of a disruptive company cannot even be defined as disruptive. Perhaps he is implying that the misuse of certain words can be equated to jargon, such as when people in everyday conversation refer to Uber as a “disruptive” company. Because of this, Christensen believes that the mantra that commands: “Disrupt or be disrupted” can be very misleading. He advises corporate leaders of incumbent companies to not overreact to this mantra by trying to solve the problem before it is one. Christensen implies that overuse of this phrase requires incumbent businesses to be extra vigilant

Disruptive innovation is when there is now a way to serve the people or market that has not been previously served.

Tidd et al (2000) states, “the innovation is a business process of revolving opportunity into new ideas and of putting these into widely used practice. In term of the nature, there are five major types of innovations: novelty, competence shifting, complexity, robust design and continuous improvement. While in term of the extent of change, innovations can be divided into incremental, radical and

Innovation is normally used to denote the process that takes place when a product or a process is developed, from idea to market; the concept of invention only denotes the process that takes place when new ideas or solutions are generated. Baumol (2002) argues “is it possible to have lots of inventions and still lack innovations. Nevertheless, inventions are a necessary precondition for innovation”.