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Reviewed by Divine Zape for Readers' Favorite
Built to Fail: The Inside Story of Blockbuster’s Inevitable Bust by Alan Payne provides a compelling insider's account of the rise and fall of the iconic video rental giant. The author argues that Blockbuster's demise wasn't solely due to Netflix and streaming, but rather a consequence of internal flaws, a relentless pursuit of growth over operational efficiency, and a profound lack of understanding of the core business and its customers. Payne, a former Blockbuster franchisee and long-time competitor, offers a unique perspective on the company's missteps. In this book, readers will understand the factors that drove the phenomenal rise of Blockbuster and why its disastrous fall became inevitable.
Built to Fail discusses the key figures who shaped Blockbuster, from the ambitious and growth-obsessed H. Wayne Huizenga to the CEOs who followed, each struggling to navigate a rapidly changing industry. Payne contrasts Blockbuster's approach with successful competitors like H-E-B's Video Central and, later, Netflix, highlighting Blockbuster's consistent failure to adapt and innovate. Alan Payne cleverly captures the boom years of video rental stores in the 1980s and early 90s, characterized by dimly lit spaces and manual inventory, to the dawn of DVD and the internet, where convenience and selection became paramount. The themes covered are the dangers of prioritizing growth over operational excellence, the arrogance of ignoring competition and customer needs, and the inability of a dominant player to recognize and embrace disruptive technologies. While this book focuses on the rise and fall of Blockbuster, it delivers compelling insights and strategies for emerging businesses to survive and thrive despite the competition.
