Failure to innovate – discussion
Organizations that fail to innovate find themselves in a situation where they have to restructure themselves to stay afloat.
Choose 1 of the companies listed below. Use the provided articles to support your understanding of the company’s situation.
|Toys R Us
Based on your chosen company, discuss how reorganization of its business structure would or would not have helped them meet new market challenges. In your response, address the following:
- Specify at least 2 reasons why you think reorganizing was or was not necessary, and provide an explanation for each reason.
- Suggest 2 strategies you think could have improved the company’s efforts to meet current market challenges and remain sustainable.
I have chosen Circuit city which collapsed after trying to reorganize its business structure. The company which was started in 1949 was doing well until it was ranked among the companies which was making so much profit. This was when the company was doing its initial business of installing new television sets for its clients in Richmond. The business was doing good because it was a new idea which had not been implemented before in Richmond. The idea was inspired by the fact that there was a new TV station which had been opened in Richmond but only a few households had television sets.