Renata's video rental store has seen a drastic decline in business over the past five years.What major external environmental factor is to blame?

Question

Quizplus · Accepted Answer

The major external environmental factor that has disrupted the video rental store industry is technology, specifically the rise of online streaming services like Netflix and Hulu, which provide consumers with a more convenient and affordable way to access movies and TV shows. As a result, traditional video rental stores have experienced a decline in business. Shareholders, suppliers, and the labor force may play a role in the store's decline, but they are not the major external environmental factor responsible for the industry-wide disruption.

Renata's Video Rental Store Has Seen a Drastic Decline in Business