Netflix initially started as a DVD rental service and grew, but it soon encountered a crisis with video streaming technology. Nevertheless, it wasn’t feasible to abruptly abandon the existing business and transition to a digital distribution model, highlighting the significant conflict involved! Video streaming technology is not a complementary service to DVD rental; rather, it serves as an alternative. When expanding or improving a business, it’s crucial to clearly understand the defining attributes of the target product or service. Burgers and french fries complement each other, while burgers and chicken sandwiches are substitutes. - Joseph’s “just my thoughts”
Cotton needs 500 mm of water to produce cotton wool, and 1 kg of cotton wool requires 8,500 liters of water to fill 40 baths. A fashion company can make a pair of jeans from this. It needs at least 2,700 liters of water to create a T-shirt. This amount is enough for one person to use as drinking water for three years. Clothing consumption has recently increased by an average of 60% each year on Earth. The Aral Sea in Uzbekistan was the fourth-largest lake in the world, but it has now shrunk to one-tenth of its original size, as river water has been used to grow cotton due to increased consumption. Few people are concerned about how their consumption affects the global environment. - Joseph’s “just my thoughts”