How could Netflix management use Steps for Better Thinking in their decision making? 1. Identificationa. Problem. Find competitive scheduling.b. Relevant information. Competitors have access to the same programs and providers.c. Uncertainties. Competition may gain a competitive advantage and Netflix loses customers.2. Exploring. Prejudices. Embarrassment in negotiating a new contract with sellers at a high price for the first film months before the competition.b. Hypothesis. New customers and higher rates to compensate for the new contract.c. Qualitative interpretation from various points of view. (i) Price of new contract too high (ii) Alternative options were available to be competitive. Distraught shareholders want to replace management. 3. Prioritize. Ranked list of factors to consider. Very important impact of policy on profitability, market share and stock price. Pretty important: ways to stay competitive without signing new contracts or losing customersb. Conclusion. Management made a bad decision. Netflix should renegotiate its contract to save money and offer new subscribers a lower subscription