Choose an industry that has gone through rapid, dramatic change
Choose an industry that has gone through rapid, dramatic change—e.g., social media; retailing (Amazon vs Walmart), entertainment media; travel industry; publishing; music; education, etc. Look at costs, productivity, ownership of intellectual property, technology, supply chains, customers, competitors, etc. Explain how the industry changed and why. How did companies in this industry handle risk and uncertainty? Talk about the competitors in the industry—who won, who lost, and why? Examples: Blockbuster lost to Netflix; Barnes and Noble to Amazon; Sears and Kmart to Walmart who is now challenged by Amazon. (Topics for chapters: Economies of scale and scope; understanding markets & industry changes; market structure & long-run equilibrium; strategy- keep profit from eroding) Extensive research not necessary.