Whether it is Blockbusters, Nokia, Blackberry, Woolworths or Borders, all E&M pupils should have a good understanding of the gales of creative destruction (Schumpeter) as an important force in capitalism and innovation.
Watch and listen as Creative Destruction illustrates the economic cycles that occur within capitalism as technology evolves over time. While this process does not always benefit everyone, it is an essential part of economic growth and innovation.
Read this BBC article on how the creator of Netflix is taking on cinemas with the below-cost provision of MoviePass, which essentially provides movies all month long for just $9.95 a month. Examine this as a business strategy and discuss the pros and cons of it. How should AMC respond?