Blockbuster, RadioShack May Be Gone in 2011: An Adaptation Morality Tale

As the world changes, empires are created and destroyed. The companies that once seemed invincible become vulnerable when the Internet reminds us that slow adapters can end up dying a quick and painful financial death. One such company that may experience the wrath of its own complacency could be Blockbuster.

Blockbuster dominated the movie rental industry for more than 20 years, keeping prices high and fees even higher. Personally, I've probably paid thousands of dollars in late fees over the years, but that all changed when smaller companies like Netflix and Redbox stepped to the plate with a better alternative. Now, when I rent movies for my parents, they don't send me to Blockbuster, they send me to the Redbox machine around the corner. When I want to watch a movie at home, I turn my website to Netflix.com. Blockbuster has become a corporate dinosaur.

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Entertaining the Recession

Entertaining the Recession
The current global recession has affected everyone from Wall Street to the Eiffel Tower. As unemployment rises, countless businesses are finding it more difficult to cope and survive in today's market. Among the many industries under financial stress are those that entertain and relax us. However, as President Barack Obama recently stated there are "glimmers of hope." To chase the dark clouds, certain industries are catering to our escapist fantasies, luring us with offerings that help to relieve the stress. Here's a look at some areas where our favorite pastimes have been affected and how consumers have taken advantage of the recession.

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Celeb Dads and Their Kids

Kobe Bryant, #24 of the Los Angeles Lakers, snaps a pic with his daughters Natalia and Gianna.

Celeb Dads and Their Kids

President Barack Obama and first lady Michelle Obama get their daughters Sasha and Malia ready for their first day of school in Washington, DC.

Celeb Dads and Their Kids

Happy dad Usher at the park in Beverly Hills with his oldest son, Usher Raymond V in September of 2008.

Celeb Dads and Their Kids

Lil Wayne cuddles up to his daughter, Reginae, on the red carpet at the BET Awards.

Celeb Dads and Their Kids

Bobby Brown poses with his daughter with Whitney Houston, Bobbi Kristina. Brown is also dad to three older children from a previous relationship and a baby boy with Alicia Etheridge.

Celeb Dads and Their Kids

LL Cool J and his daughters attend UniverSoul on April 19, 2008 in New York. UniverSoul Circus saluted LL Cool J and Senator Malcolm Smith.

Celeb Dads and Their Kids

Rapper Jermaine Dupri and his daughter Shaniah arrive to the BET Hip Hop Awards 2007 at the Atlanta Civic Center.

Celeb Dads and Their Kids

Sean Combs with his twins D'Lila Star and Jessie James. In addition to the twins, the busy dad has two sons and a daughter.

Celeb Dads and Their Kids

Blair Underwood and family at EA's 'Harry Potter and the Order Of The Phoenix' video game launch in LA.

Celeb Dads and Their Kids

Singer Cuba Gooding, with his sons Cuba Gooding, Jr. and Omar Gooding, poses at the premiere screenings of Showtime's 'Weeds' and 'Barbershop.'

Celeb Dads and Their Kids

Blockbuster has felt it's financial chickens coming home to roost, with consumers spending their money elsewhere. The company lost $65 million last quarter and is considering filing Chapter 11 bankruptcy. Blockbuster has more than 6,000 brick-and-mortar stores, which are becoming dead weight in the world of digital information.

RadioShack was founded in 1921, making it one of the oldest retailers in the country. But it's been getting bullied by Best Buy, which offers better products, better prices and a greater variety of electronic options. I only go to RadioShack when it's been fully confirmed that Best Buy doesn't have what I am looking for.

Best Buy may end up taking over RadioShack, but it likely won't even keep the company's name, which comes off as old-fashioned. Who wants to go to store named after a shack full of radios?

What's the lesson in all this? The world is changing constantly, and you must be able to adapt in order to survive. I had a big debate with someone in our fabulous media school here at Syracuse (The Newhouse School of Communications) about the fact that teaching old-school journalism isn't going to help our students survive in a dotcom world. That's yet another example of the fact that adaption is critical to being competitive in the year 2010. The Internet has changed the game completely, and answers can't be found in textbooks, since they are being rewritten for the Web every year. So, while education can be quite valuable, the truth is that even when you are educated, you must always remain the humble and eager student of real-world trends.

Being the best is one thing, but being the best means nothing if you're not also at your best. We must all adapt to survive.

Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action resident of the Institute for Black Public Policy. To have Dr. Boyce's commentary delivered to your e-mail, please click here.