One example of a business that failed due to strategic issues is the Blockbuster video rental chain. Once a dominant force in the video rental industry, Blockbuster failed to adapt to changes in technology and consumer behavior. They did not recognize the rising popularity of online streaming services such as Netflix and failed to invest in digital platforms. Additionally, they continued to focus on physical stores and late fees, while Netflix introduced a subscription-based model with no late fees. These strategic missteps led to Blockbuster's downfall, with the company filing for bankruptcy in 2010.
