BUS/475 v11

Project Plan

BUS/475 v11

Page 4 of 5

Project Plan Template

Project Title:

Project Objectives:

· Customer objectives

	Responsible Person	Timeline
Review Netflix’s customer database to determine the lost market share	Director of Marketing research	1 week
Survey the customers to identify their tastes and preferences	Marketing Researcher	6 weeks
Increase human interaction to assist the customers in solving the problems they are experiencing	Marketing Researcher	6 weeks
Increase the number of contents to increase customer retention	Creative director	6 months

· Internal business objectives

Operational Step	Responsible Person	Timeline
Increase the rate of product differentiation.	Chief executive officer	1 year
Increase technology reliability	IT Manager	1 year
Improve the overall brand image	Data Analyst	1 year
Increase employee commitment	Chief executive employees	6 months

· Financial Objectives

Operational Step	Responsible Person	Timeline
Intensify production	Marketing Manager	1 year.
Increase revenue	Finance manager	1 year
Improve profitability.	Finance manager	2 years
Minimize cost.	Finance manager	3 years

· Why these objectives are appropriate for the project.

The above objectives of Netflix will serve as a strategic plan for the project, but they are also attainable. The goals are appropriate to the company since its main aim is to improve its competitive advantage against the competitors enabling them to even out the growing competition. Reviewing the lost market share will provide Netflix with why most of their customers are unsubscribing from their offering. As a result, customer objectives, in this case, are appropriate since they focus on establishing a firm foundation for Netflix to provide support and provide customers with an opportunity to watch their favorite films without interruption. This will enable the company to gather more customers and general satisfaction, which is essential for the success of Netflix in customizing their products to offer more affordable pricing (Management Glossary Content Team, 2020). On the other hand, the internal process objectives are appropriate as they aim to help Netflix widen the rate of content creation, which they can supply to their large ready market and play an integral role in improving the organization's overall quality content and participation in enhancing employee's productivity. At the same time, the financial objectives identify the economic opportunities that the company can explore to become more competitive in the market.

In attaining these three objectives, the organization will amplify its operations, making them more effective and boosting the superiority of its outputs, thus increasing competitiveness. On the other hand, getting the opportunity to learn and support the growth of these objectives is appropriate because their main goal is to widen Netflix's performance and financial health. As a result, developing these objects will improve Netflix's financial performance, ensuring that it is above other competitors and that the objectives will be accomplished accordingly.

· Why these metrics and timelines are appropriate for your strategic plan.

The objective metrics are appropriate for this strategic plan as they can accurately signify the number of customers who have exited Netflix's market share and guide them on strategies, they can utilize to expand their prominence to other markets, intensify the volume of content and establish partnerships which will help in reducing costs of producing new contents. On the other hand, the metrics are appropriate since the goals involved are short-term in nature and thus align with Netflix's organizational goals (Biddle, 2020). Apart from that, these objectives are in the second quadrant, and none of the purposes is under 2 years. They are essential because they will be assisting in evening out organizational participation, which is vital for sturdy outcomes. Areas The last quadrant is appropriate to my strategic plan because it maps out key strategies that the company can maximize, thus increasing competitiveness and improving the financial health of Netflix.

References

Biddle, G. (2020, October 1). Netflix's 2020 product strategy. ProductLed. 

Management Glossary Content Team. (2020, April 13). SWOT analysis of Netflix in 2020 | Netflix SWOT. Management Glossary. 

Copyright 2020 by University of Phoenix. All rights reserved.

Copyright 2020 by University of Phoenix. All rights reserved.