two companies once behemoths that suffered from complacency

two companies, once behemoths, that suffered from complacency and stagnation. Borders Books and Circuit City never embraced the need to reinvent and subsequently, began a rapid decline and ultimately closed their doors. Summarize what each company failed to do or did wrong that led to their demise.

Solution

Reasons for Border Books going out of business:

Border Books relay too much on outsourcing online book selling to Amazon, at the end the customers started purchasing books directly from Amazon without the need at all of Border Books

Another problem that Borders book had is that it didn’t pay attention to e-books and didn’t develop their own e-book reader to compare with Kindle from Amazon.

The debt Border had since 2008 was too much and even though it restructured the company a couple of times it was never able to get out of the debt.

Reason for Circuit city to closed

Circuit city had incredible success on its early years but they never adapted or innovated for their customers, they remain static.

The company also became complacent when it didn’t secure a primer real state, this is why customers would prefer to visit Wal-Mart

Stopped selling appliances and didn’t offer promotions with companies like Apple Computer.

And the last problem was that Circuit City never improve his website