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Transcript of RadioShacks downfall?
Where did RadioShack go bad?
A successful business has sufficient skills to bring a product or service idea to the market successfully. RadioShack did not initially lack this skill but they failed to remember that in order for a business to continue flourishing the idea must continue to be a winner.
Fixing the problem
Eliminating 500 stores, allows for RadioShack's CFO Holly Etlin to go out and look for managers that fit the company's new look that they are bringing to the market. This is extremely important because (as said in the chapter), in order for an organization to be feasible, strong passionate manager's are needed.
One of RadioShacks Huge Competitors .
A sneak but pricey online competitor.
The cost of having these competitors!
What is going on?
RadioShack plans on closing down over five hundred stores. If it wasn't for the recent super bowl commercial RadioShack's stock value would have suffered a drop of 4.84%. They plan on reconstructing these stores which will hopefully make up for the six hundred twenty five million dollar debt they are in!
A store in LA that is getting shut down.
That's not all you need to be Financially Feasible!
RadioShack must attract investors. The more money they have being put toward making new stores and refurbishing their products, the more investors will be willing to invest in Radioshack. RadioShack is a business that been around and they clearly know the importance of making a idea that investors can trust.
One reason for RadioShack's moves could be the rise of competition in the market. Best Buy made 49.6 billion dollars in 2013 and they don't plan on slowing down. Also online stores like, Amazon and EBay also are contributing to the drop in RadioShacks sales. In the business world competition shows the financial feasibility (how easy the market is) of a business. Similar business is only one one many contributing factors to finacial feasibility.
A New Brand
RadioShack plans to provide a completely different look. Instead of being the being the boring plan Radioshack, they plan on taking a futuristic approach. The better feel Radioshack's stores gives off the more people will buy.
What does RadioShack need in order to be Financially Feasible?
First of all in order for any business to be successful it needs to began. In order to began you have to spend money. Although it may seem unwise to spend more money when your business is in a 620 million dollar debt, you must spend money to make money. Since RadioShack is a billion dollar company start up money will not be a problem.