Discussions about Blockbuster in COMM 101 classes made me realize that if we were to sit down and think about how many businesses have failed due to the advance in technology we would be shocked! Just like CD’s, desktop computers are being exchanged for laptops, music players for I-pods and workers for machinery.

Those days when people actually went to stores to buy music CD’s are now history as ITunes and other informal businesses have made the download of music so much easier, quicker and cheaper (Even free in some cases!). According to the Telegraph, “nearly three in four independent record stores have closed down in the last decade (in Britain)”, which is an extremely shocking statistic and “only 13% of the people actually buy CD’s from stores”, according to a survey by the consumer Watch Dog.

Even though “Technological” means more profitable and these advances are great for businesses, they also require companies to constantly change and innovate. This is amazing for large organizations as they have funds but what about the small startups? How will they ever catch up?

Bibliography:

1.  Leopold, Todd. “The Death of the Home Stereo System.” CNN. Cable News Network, 01 Jan. 1970. Web. 29 Sept. 2013.

2.”Three Quarters of All Independent Music Shops Have Closed down in the Last Decade.” The Telegraph. N.p., 27 May 2013. Web. 7 Oct. 2013.