Bus 499 Capstone Paper

In: Business and Management

Submitted By Twyla9382
Words 1489
Pages 6
Strategic Management and Strategic Competitiveness

BUS 499- Business Administration Capstone
Strayer University- Augusta Campus
April, 2014

Abstract
The purpose of the paper is to research and understand how the changes of globalization and technology have impacted the music industry. This paper will also apply the industrial organization model and the resource-based model to determine how the music industries earn above-average returns. This paper will explain how the music industry’s success is through its mission and vision statements with Universal Music Group as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts is to the overall success of the music industry.

Assess how globalization and technology changes have impacted the corporation you researched.
The company researched was Universal Music Group because the music industry is ever growing and wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compact disc sales have declined and more music is being released without the record company’s permission. Some may view this as a major problem to the other major record labels that distribute music globally. But some are using the mp3 to their advantage. A while ago an artist could not walk out of a studio and release a record in ten minutes. Now artists can get the music to their fans in record time and the fans can then download the song a lot faster than a drive to the local record store. Overall sales are down in the music industry, but according to sources “Universal Music Group, the biggest of the world’s four major music companies, made the most money percentage and dollar wise from digital…...

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