Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

8.2 Kotter's-B-Steps Model John Kotter 8-step model (Appendix 5) can be used to describe Netix's process of change occurred in 2007. Firstly, after two years

image text in transcribed
image text in transcribed
8.2 Kotter's-B-Steps Model John Kotter 8-step model (Appendix 5) can be used to describe Netix's process of change occurred in 2007. Firstly, after two years of stagnant sales, the market for DVDs declined by 4.5% in 2007. This was the first time that the DVD sales market fell, and Netix felt the urgency to change its business model. (Shah, 2018). Despite the fact that Netix's DVD rental business was growing, Reed Hastings and his team recognized it is not sustainable. Netflix went all-in on streaming video to future-proof the business they had developed. Secondly, Netix's CEO has worked diligently to build a solid coalition freedom of autonomy. Lead by the CEO, Netflix formed an enthusiastic team. Netix give their employees the freedom of autonomy allows for exibility, and this eliminates the issues resulting from bureaucratic or hierarchical structure. Thirdly, he has developed a strategic vision and initiatives with the support of his coalition members through reinvention of entertainment delivery. Netflix has a clear goal and initiative to revolutionize entertainment delivery by giving users instant access to thousands of films that they can binge-watch on any platform. Fourthly, the CEO and co-founders have completed the fourth stage by communicating the vision to its customers and investors. Netflix gets its subscribers to adapt to this change by including this new streaming service in their DVD $5.99 per month physical DVD subscription tier. Netix also encourages them to use this service as they promote \"Watch movie instantly on your PC.\" (Appendix 6). Netflix has made streaming free for Netix users, and 1,000 titles are now available to stream online. (Helft 2007)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Restaurant From Concept To Operation

Authors: John R Walker

5th Edition

0471740578, 9780471740575

More Books

Students also viewed these General Management questions