BRILLIANT TUTORS 0691643262
MNG3702
ASSIGNMENT 2 (S2)
SOLUTION 2023
BRILLIANT TUTORS
1 0691643262
,2
, Introduction
To be competitive in today's fast-paced business world, companies must be nimble
enough to respond quickly to shifting market conditions. The success of Netflix is
evidence of the importance of creativity, strategy, and flexibility in business. Netflix's
story, from its humble beginnings as a DVD rental business to its current status as a
worldwide streaming juggernaut, provides lessons in strategic management,
corporate culture, and leadership. Examining Netflix's business strategy, stakeholder
relations, corporate culture, and risk management practises are just some of the
topics covered in this project. We want to learn more about Netflix's successes,
failures, and techniques for coping with the dynamic nature of the entertainment
industry by examining these variables in depth.
Question 1: Strategy Formulation and Implementation in Netflix
1.1 Strategic Map for Netflix's
Using the elements of the Balanced Scorecard (BSC).
Objective Measure
Financial Transition from a pay-per- Monthly and annual
use model to a subscription revenue,
subscription-based model churn rate
to increase stable,
recurring revenue
Customer Deliver unlimited DVD Customer retention rate,
rentals without late fees to new customer acquisition
attract and retain more rate, customer satisfaction
customers. surveys
Internal Process Streamline DVD Average delivery time for
distribution and returns to DVDs, average processing
minimize turnaround time time for returns,
operational efficiency
metrics
Learning & Growth Foster a culture of Employee training hours,
3
MNG3702
ASSIGNMENT 2 (S2)
SOLUTION 2023
BRILLIANT TUTORS
1 0691643262
,2
, Introduction
To be competitive in today's fast-paced business world, companies must be nimble
enough to respond quickly to shifting market conditions. The success of Netflix is
evidence of the importance of creativity, strategy, and flexibility in business. Netflix's
story, from its humble beginnings as a DVD rental business to its current status as a
worldwide streaming juggernaut, provides lessons in strategic management,
corporate culture, and leadership. Examining Netflix's business strategy, stakeholder
relations, corporate culture, and risk management practises are just some of the
topics covered in this project. We want to learn more about Netflix's successes,
failures, and techniques for coping with the dynamic nature of the entertainment
industry by examining these variables in depth.
Question 1: Strategy Formulation and Implementation in Netflix
1.1 Strategic Map for Netflix's
Using the elements of the Balanced Scorecard (BSC).
Objective Measure
Financial Transition from a pay-per- Monthly and annual
use model to a subscription revenue,
subscription-based model churn rate
to increase stable,
recurring revenue
Customer Deliver unlimited DVD Customer retention rate,
rentals without late fees to new customer acquisition
attract and retain more rate, customer satisfaction
customers. surveys
Internal Process Streamline DVD Average delivery time for
distribution and returns to DVDs, average processing
minimize turnaround time time for returns,
operational efficiency
metrics
Learning & Growth Foster a culture of Employee training hours,
3
