Remember the days when a person would have to wait in line for two days just to purchase U2 tickets? Remember the days of tapes and videos? Hey, let’s get with the program, it’s now the 21st century, the information, technology age. All one has to do is flick on the computer, get on-line, type in www.knitmedia.com and one has opened the doors to the “Entertainment Company of the 21st century.” In the convenience of a person’s home, one is able to download music, purchase a compact disc, and even download a performance. Michael Dorf, founder and CEO of the Knitting Factory had this dream, and what almost seemed impossible has finally come too pass. This dream needed a group of managers to put it into action. According to Management Leading People and Organizations in the 21st Century by Gary Dessler, “21st century managing, is a management approach to the rapidly changing business world that emphasizes responsiveness and effective leadership”, (pp. 24-25). The Entertainment Industry is Infamous for the dynamic nature in the way business is conducted. The way a company reacts to trends in the Music Industry affect whether a company sinks or swims. Through expansion both here in the United States and abroad, Michael Dorf faces both challenges met and to be addressed. From examination of his management style, we can observe that this company, KnitMedia is swimming. Chapter One (pg. 30)Few industries are undergoing as much rapid change as music, entertainment, and Internet/new media-industries that KnitMedia is in. Compile a list of the trends (such as consolidation of the music companies) taking place today for which Michael and his colleagues will have to plan.Using WEB resources, make a list of the competitor in New York City for the Knitting Factory.Examples of some of these trends include the use of the Internet, the packaging of music, and clubs, which allow a person to experience t...
