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

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

Because the external environment of any company is ever-changing, opportunities must be sought and taken to succeed and continue to compete in the marketplace. Such opportunities can be derived from a variety of reasons (such as new regulatory restrictions or internal mandates), so taking the time to properly identify prospective opportunities for product development is absolutely crucial for an advantage over existing and potential competitors (Crawford, Di Benedetto, 2015). While many companies' products are in a position where they could likely continue to thrive as they are, seeking and taking new opportunities to sustain product growth could pay off in the long run.

Other companies have used Disruptive Innovation to come in at the bottom of a market and focus on a lower cost and change the way consumers purchase goods and services, changing the market forever. One of the best examples of this type of Disruptive Innovation was Toyota. Toyota came into the American market and offered inexpensive cars that offered very view features and small 4 cylinder engines. At first many consumers turned their nose up to the Toyota products. But some consumers bought the Toyota because they were a cheaper option for automobile transportation. When more customers started to purchase Toyotas and the company was able to establish a solid footing in the American Business market and they started to change the model of their business. Toyota started to offer higher end cars and eventually moved into the luxury automobile industry with the Lexus line of cars. Disruptive innovation is a continual process and happens in business all the time. You can also see it in the car market right now with Hyundai and Kia.

In today’s dynamic business world, it is not enough for businesses to respond to the current customers and internal organizational issues. In order for businesses to survive, they must be able to anticipate and evaluate existing and emerging trends and develop ideas, products and services that respond to those trends. However, failing to identify and respond to trends can put the business at the risk of losing the existing customer base because innovation often determines who will be the market leader and who will be living on the margin of the market.

Technological factors also play a major role in the video rental industry. “Telecommunications companies were accelerating efforts to create an information superhighway to households using fiber optics technology that permitted in-home viewing of movies on a pay-per-view basis.” Although fiber optics technology was still being developed, it presented a major threat to the video rental business. Once developed, this technology would render the need for video rental stores useless.

Innovation can be one of the most challenging processing in the context of work, however the creation of new knowledge is the key to success in all businesses and organisations as keeping up with the trends with only help provide good results (Crowther, D. 2002).

3-However, by doing so, companies unwittingly open the door to “disruptive innovations” at the bottom of the market. An innovation that is disruptive allows a whole new population of consumers at the bottom of a market access to a product or service that was historically only accessible to consumers with a lot of money or a lot of

A disruptive innovation at the start offers a lower performance accordingly to what the market demands at a lower prices. Usually, the phenomenon of disruptive innovation is refer to the entrance of a new established firm that enters the market with a new product targeting non-consuming customers with a low quality product at a lower price. However, for established firm, disrupting the market can be challenging. In order to do that established firms need to relay on new emerging trends driven by the demand of the sector and incorporated new technologies to reinvent the way business is done in the industry.

There are a couple of sources of disruption, demand-side, supply-side mechanisms and disruptive innovation. The demand-side where existing firms are blindsided from a new innovation and lose customers from changing customer wants. The supply-side where organizations cannot make organizational changes necessary to compete with new entrants. Disruptive innovation follows an “S Curve” where an organization may initially perform worse and then rapidly improves.

Disruptive Innovation can be defined as structure of a process which describes a sort of market scheme.

Disruptive and transformational technologies typically appeal to segments of the market that are undeserved, and not to the main stream of the market (Shane, 2009). These technologies have the ability to make traditional tools and processes obsolete virtually overnight.

Even a business that entirely transforms a industry and is considered truly disruptive is not radically different in the end. For instance, look at the business and economic model of a mini mill that uses recycles steel vs. iron ore. Another example is a cell phone

In today’s competitive world, it is extremely pivotalpre for firms to adapt changes that help them attain competitive advantage and sustain growth. Therefore, Clayton Christensen introduced the concept of ‘Disruptive Innovation’ in 1995 that helped in attaining these radical changes. Disruptive innovation is a term used to describe the process where a product or service is initially set-up at the bottom of a market and persistently grows in the market, eventually taking over its adversaries.

Innovation is a vital ingredient of business success. Free market economics depend upon companies competing with each other in the marketplace and trying to close any lead established by another company. In terms of selling products, companies must continually introduce new products to prevent their more innovative competitors eating away at their market share. In more recent years, the pressures to innovate have grown. As manufactured products have become more global, the competitive pressures from overseas companies have increased substantially. This is not only a threat from the multinational industrial giants. International licensing agreements can spread products around the world through networks of small or medium sized companies. Looking over your shoulder requires much longer vision that it used to. To make things worse, the average life span of products is shrinking fast. New technologies, such as CAD, rapid prototyping and