Strategic planing Coursework Example | Topics and Well Written Essays - 500 words

Strategic planing - Coursework Example Netflix started off with a novel approach to DVD movie rentals by letting customers rent for cheap as compared to its competitors like Blockbuster and more importantly it allowed its customers to keep the movie for as long as they wanted without any late fee penalties. It became an instant factor in its success. In today’s busy world the ease of keeping a rental movie without having to worry about late fee charged to the clients was a service that no other competitors of Netflix had thought of. This business recognized it and reaped tremendous financial rewards in the long term. In the last few years Netflix again left its competitors far behind and even drove its major competition out of the market by simply recognizing and incorporating the Internet technology to its business. The streaming videos and the growing number of internet users was a factor which would influence almost all businesses if it has not already done so. Netflix allowed its subscribers to watch instant movies without having to pay any extra amount. This was a major boost to their business expansion and even took clients from cable where people had to pay extra to watch a new movie. The use of emerging internet technologies during this economic down turn gave Netflix an extra edge over its competition as its subscribers are paying for internet already and at a very low cost they can watch movies instantly without having to leave the comfort of their home. Opportunity for Expansion. Should a business always expand if given the chance to do so? Think of a company that recently added one or more new businesses to the organization. Does the addition seem to be in line with the original mission, vision, and core competencies? The three facts which the management needs to analyze are the current business situation, its future direction and the strategy to get there. The first most important factor is the realistic assessment of the present situation. Any shortcoming in