Failure Analysis/Change Strategy Essay

While there is no guarantee of the success of a stage personal line of credit, there ar indicators that can be learned from analyzing memorial tablets that have failed to those that break through. In this paper, we compare two nerves, blockbuster exposure and Netflix that exemplify effects of leading, hatful, strategy and planning, and the importance of client satisfaction that turn the success or failure of a business.Mission, Vision, and ObjectivesThe mission, vision, and values statement defines an organizations brand, culture, and guest experience. megahit was founded by David Cook in 1985 and apace went public a year later. In 2004, megahit had up to 60,000 employees and e trulywhere 9000 stores that profferd home movie and video indorse rental services done video rental shops (Forbes, 2011). Its mission and vision was to provide our clients with the intimately convenient access to media entertainment, including movie and game entertainment delivered through nine-fold dispersion channels such as our stores, by-mail, vending, and kiosks, online and at home and to straits customers a value-priced entertainment experience, combined with the broad product depth of a specialty retailer with local neighborhood convenience (Farfan, 2015). Its objectives were to provide a large number of copies and broad selection of movie titles, operative conveniently located highly visible stores, offer superior and consistent customer service, optimize price to local securities pains conditions, and nation eachy advertise and grocery the brand name (Farfan, 2015).Netflix was founded by Reed Hastings in 1997 is in a flash the worlds leadingentertainment cleanwork of be adrift movies with everywhere 57 million members in 50 countries (Netflix, 2015). Its mission statement is to baffle our stream subscription business domestically and globally. We are continuously improving the customer experience, with a focus on expanding our streaming content, e nhancing our user interface and extending our streaming service to even more Internet-committed devices, while staying within the parameters of our consolidated net income and operating segment contri only ifion profit targets (Netflix Company Profile, 2015). Co-founder and CEO de nonative Netflix vision for the future and objects to become the best global entertainment distribution services, license entertainment content around the world, create securities industrys that are genial to film fuddlers, and help content creators around the world to find a global audience (Netflix Company Profile, 2015).Indicators of Business Failures and SuccessComparing booming organizations, such as Netflix, to a failed organization, such as Blockbuster, allows us to key predictors and understand critical elements that lead to the success or failure of a play along. In our case, the role of lead, strategy and planning, vision, and customer service played a role in the failure and success of b oth companies. A advanced-made survey by the Turnaround Management Society indicates that most crises are caused by top management and include management continuing with a strategy that was no longer working for the company, underestimation of changes in the market and lack of alignation, a loss of vision and a disconnect with customers (Lymbersky, 2014).The Blockbuster Board, made several poor choices in hiring in contendnt leadership who did not understand their business. The company had a lack of vision and could not ascertain whether they were in entertainment or retail. Most detrimental to the Blockbuster brand, was the refusal to secernate and adapt to changing engineering that affected their market. All these poor choices increase on Blockbusters problem of disengagement with their customers by not attending to customer demand and their un-customer friendly policies of charging late fees. During the same period, Netflix provided continuity in leadership, had a strong s trategy built around adapting to rapidly changing technology that supported video streaming, created a strongsense of vision and connected intimately with its customers demands and incorporated customer friendly pricing strategies of fixed monthly pricing with no late fees.Organizational behavioural TheoryNetflix and Blockbuster were companies with a vision one that had a vision of the future and one that did not understand how fast technology was immensely approaching. Netflix saw that technology was coming and wanted to stay ahead of the game with video streaming, videodisk-By-Mail, and producing popular series only exitn through Netflix similar to a cable network. Blockbuster started with video rentals and ended with video rental, and expanded their stores into outlets for books, toys, and some some other merchandise. When YouTube erupted in 2005 Netflix realized that they need to jump on the video streaming and allow customers to get the movies they wanted directly to TVs, c omputers, mobile phones, and other devices. Blockbuster did try a similar outlet as Netflix but failed to understand customers did not ilk late fees, are hidden costs. Blockbuster forgot to adapt to the changes in technology, and this is what ultimately caused the company to file Chapter 11 nonstarter and close its doors.Technology within the movie and movie rental industry has been a significant factor since VHS tapes, and Netflix saw an opportunity and ran with it. With the ability to see the future and adapt to changes within their industry they are succeeding. With Blockbuster not understanding technology, consumers wants, and industry changes they failed. Decision making of management and leaders with in an organization is how Netflix succeeded and how Blockbuster failed. When a business loses focus on what business they are in they are doomed to fail. Blockbuster did not go along its focus on movie rental they started to think and make decisions like a retailer and that was the beginning of an end of the blockbuster era. Netflix k in the buff the future of DVD-By-Mail was expiry to short lived and decided to focus on the internet and technology to succeed in the industry. If Blockbuster would have stayed focused on movie rentals and not retail they would still be in business.The Role of LeadershipThe leadership and corporate structure of Blockbuster and Netflix were identical however each organization demonstrates the critical component ofan organization to adapt and change its strategy and fortify a culture that supports a clear vision. When leadership makes decisions, or neglects to make the right choices, then the company volition fail. Blockbusters leadership was dysfunctional and refused to adapt their strategy or have a clear vision of their business.NetflixNetflix organizational structure is the same as a hyaloplasm and consists of the board of officers. The key component that made Netflix a success was the leadership and their ability to t ake risk, adapt, and have a solid vision that understands consumer demands. We compete very broadly for a share of members time and spending, against linear networks, pay-per-view content, DVD watching, other Internet networks, video games, web browsing, magazine reading, video piracy, and some(prenominal) more. Over the coming years, most of these forms of entertainment will improve. (Netflix, 2015). As a company grows, their culture allows freedoms in leadership, management, and innovation. Evidence of this is displayed in Netflixs perceptiveness to move from mailing out DVDs to embracing the streaming world, on the being Wide Web. The introduction of this opened profits for Netflix that Blockbuster refused to embrace.BlockbusterThe derision is that Blockbuster failed because its leadership had built a well-oiled operational machine. It was a very tight network that could execute with extreme efficiency, but poorly worthy to let in new information (Satell, 2014). As a company grows its business and a great customer base, there is perpetually a need for increment and adaptation. Netflix even gave Blockbuster a fortuity to merge with them when the internet streaming hype hit, but Blockbuster declined. repair and faster connections, transactions, and easier purchases on-line, are what made Netflix blossom and Blockbuster fail. Blockbuster refused to adapt or take advantage of opportunities that would have aligned them for the future.The Change procedureVital Areas of ChangeVital areas of change include strategy and planning that supports a growth platform, establishing a strong sense of vision, and reconnecting with theneeds of the customer. The premier(prenominal) vital area of strategy and planning includes embracing innovation and adapting to a changing business environment. When the advent of something new, such as the Internet, introduces itself into the business world, all businesses must be able to manage their existing business hurl and integ rate the new concept. The company should be keeping stores open in areas that are profitable, while leveraging its marketing and brand to introduce new streaming distribution channels.The second concept of change is to establish a strong vision and culture that supports the vision of the organization. When a company fears growth in any direction, whether it is expansion or introduction of a new idea, it will only lead to failure. The company needs to examine its market space and see where some finely tuned execution might provide another business opportunity for growth and success. One must analyse the impact the change is going to have on the organization as a whole and embrace that change. One must incorporate into the business all changes that will positively affect the future successes of the company.Finally, is to never go away about the customers and their demands. Policies should be implemented that are customer friendly and learn customer demands. For example, a better pr icing strategy would be something to learned person immediately and the organization should make changes based on customer desires. Customers will end a relationship with a company who does not go forth or cater to their needs and wants. All businesses need to realize that a growing customer base leads to success. Power and Political Issues (Whitney)John Kotters 8-Step Plan (Mirsada)Conclusion (Melody)ReferenceBaskin, J. S. (November 8, 2013). The Internet Didnt Kill Blockbuster The Company Did It To Itself. Retrieved from http//www.forbes.com/sites/jonathansalembaskin/2013/11/8/the-internet-didnt-kill-blockbuster-the-company-did-it-to-itself/ Farfan, B. (2015). Blockbuster Company Mission Statement. Retrieved from