This essay describes the Music Industry and Major Labels as Sony Music, Warner Brothers or Polygram are using the internet.In the course of the analysis, there is considerable evidence that there has been a paradigm shift of the supply chain of the music industry…
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The theory of investment, changes in consumer preferences, taste and fashion have had a profound impact in shaping company’s strategy. Supply chain management (SCM) has been considered as the most popular operations strategy to help companies sail through these challenges and for improving organizational competitiveness in the twenty-first century. In the 1990s, agile manufacturing (AM) gained momentum and received due attention from both researchers and practitioners as SCM gradually attract interest. Both AM and SCM appear to differ in philosophical emphasis, but each complements the other in objectives for improving organizational competitiveness.Supply Chain Management (SCM) activities are related to problem-solving, information sharing, and cost reduction initiatives. The influences of individual-level antecedents on post-adoption utilization of a specialized IT within an SCM context were examined by Bradley (1999).Bradley, (1999) found out that 92% of the people he questioned in1999, were planning to implement one or more supply chain initiatives. Supply chain plans to integrate key business activities through improved relationships at all levels of the supply chains. In short, SCM has become a necessity for any firm seeking to solidify its position in the marketplace. An effective supply chain includes a variety of firms, ranging from those that process raw materials to those engaged in wholesaling and retailing. It also includes organizations engaged in transportation and materials handling.
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However, in the 21st century, the emergence and growth of digitalisation, data compression and the Internet have led to a major disruption in the recorded-music industry’s value chain and business models. The growth of digital music has seen the recording industry’s revenue streams continue to sink to date largely because of the ease of compression and distribution of digital music illegally over the Internet.
It is evidently clear from the discussion that using the supporting models with particular emphasis on globalisation, consumers, suppliers, economic and technological developments one will see that despite the attention paid by the big fives to maintain their hold over the market the internet, has gradually change things.
The report reviewing the academic literature and practical examples related to outsourcing of supply chain reveals that the strategy of outsourcing has become strategically important for the organizations in order to fuel the process of growth and development.
Agriculture and food supply chain are the major drivers of environmental sustainability, food safety and security and creation of economic opportunity.The food supply chain industry is a critical industry in the global environment as it deals with the social commodities, essential goods and services that are used to increase industrialization and global economic development.
On the contrary, people are listening to more music than ever although they are not necessarily paying for it. Increase in digital music is the major challenge facing both the big and small players in the industry. There are four major players in the industry globally which are Universal Music Group, EMI Group, Sony Music Entertainment and Warner Music Group.
Traditional media retailers on the other hand, may not have has as much luck, most suffering great losses and so have shut down. Record companies have become more aware and ever so persevering in trying to find ways to stay afloat.
Next, it will tackle the trends in the industry along with the current technologies affecting it. It will then present the changes within the industry ushered by technological advancements and analyze the economic implications of these changes. It will conclude with a summary of its findings and recommendations.
But presently, the availability of compact discs has drastically reduced the profit making potential of the artists. A compact disc nowadays sells for $10.00 whereas the shirt having the logo of a rock band can sell for
changes in technology and the ever increasing-demands of the customer has made the manufacturing companies conscious of these constant changes taking place. They have to reappraise their system if they want to survive in this competitive market. This implies they need to
Music publishers also promote songwriters and composers locally and internationally to record companies and broadcasters for commercial purposes. Finally they protect the works of their clients by taking action on those who use their music without license.
10 Pages(2500 words)Essay
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