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The extent to which Netflix is implementing the concepts of “shared value”
NETFLIX research introduction
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Netflix the Organization
Netflix is known for having a unique company culture. In 2009, Netflix CEO Reed Hastings published a PowerPoint slide deck summarizing the culture. This has begun a new type of culture in today’s business world. Netflix focuses on hiring people that will flourish in their highly competitive, high performing atmosphere.
Values at Netflix
In the PowerPoint slide deck released by Hastings, it references values that are said to be valued by other companies such as Integrity, Communication, Respect, and Excellence. The slide deck states that Enron had these values displayed in their lobby. Obviously these values were not actually what was valued. Netflix believes that what is actually valued is shown by who is promoted; not by saying something is valued. They strive to hire and promote people that show these nine behaviors and qualities Judgment, Communication, Impact, Curiosity, Innovation, Courage, Passion, Honesty, and Selflessness. (McAlone, Slide Deck).
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It states, “The more these sound like you, and describe people you want to work with, the more likely you will thrive at Netflix.” (Culture at Netflix). In her article for the Harvard Business Review Patty McCord, former chief talent officer for Netflix, talks about how they strive to hire employees that are “fully formed adults” (pg. 4). This means that they attempted to hire employees that used logic and common sense and did not require micro management to be successful.
At Netflix, they believe that if you have the nine values they are looking for and are a “fully formed adult” you are more capable of being a good team player. If they realize you do not have these values or behaviors you can expect one of their infamously generous severance packages. If you do have them you could thrive in their culture and do amazing things, as long as your skills are required.
Culture of
Organization culture is the matter that holds a company intact. This is what makes each company stand out from one another. Organizational culture is also what makes employees want to retain employment with a given employer and have a sense of pride in the work that they do. I believe that AT&T is a company who invests a lot in to their employees. According to the company’s career website, AT&T has been named: "America's Most Admired Telecommunications Company" by Fortune magazine nine out of the last 11 years and "World's Most Admired Telecommunications Company" eight out of the last 10 years.
I agree with five of the seven aspects of the Netflix culture. Each of the aspects wouldn't be successful without the other. Having values that include the following behaviors: judgement, communication, impact, curiosity, innovation , courage, passion, honesty, and selflessness allows an employee to feel empower to reach for their goals. They ensure that their employees know that the company expects them to think strategically and articulate what they are, and they are not trying to do. They trust that the employee will seek to understand rather then reacting being able to maintain calm during stressful situations. The employee is expected to demonstrated consistent strong performance and set the example to their peers. This also allows the
middle of paper ... ... Despite the increases in revenue and subscribers, however, some analysts feel that the business model is “fatally flawed” and the company may fall by the wayside due to competition from the aforementioned retail and entertainment powerhouses.” Investors Guide reported this. A good thing for Netflix is the fact that they have teamed up with Wal-Mart.
Organizational culture is the system of shared beliefs and values that develops within an organization and guides the behavior of its members, while organizational structure is an expression of social and economic principles of hierarchy and specialization (Kinicki, 2015). Both the culture and the structure of an organization are important things for management to understand in order to successfully set and achieve an organization’s goals. Companies who excel in highly competitive fields can attribute their successful economic performance to a cohesive corporate culture that increases competitiveness and profitability. This culture is best utilized in an organization that has the necessary structure to allow its employees to coordinate their actions to achieve its goals.
In conclusion, the vast technology change opens many opportunities for Netflix to grow. By assessing the market environment and challenges, it enables Netflix to overcome the obstacles to remain as the market leader. To achieve the future growth, Netflix should implement both strategic and tactical approaches to compete with others. The strategic and tactical business plans for Netflix are improving content libraries, developing more partnership with production firms, and staying with the low-pricing strategy.
Netflix says that they do not need to offer as many special bonuses because as the article states” If your employees are fully formed adults who put the company first, an annual bonus won 't make them work harder or smarter" (Nisen). They believe that if they hire people who put everything into the company the pay they offer will be enough. To figure out what they should be paid Netflix went out and scouted to see what people were making in similar jobs. At Netflix they do benchmarking. Benchmarking is when a company compares its practices to the competitors (Noe489). Netflix also realizes that there workers can be scouted. So instead of getting mad they tell the people to talk to the recruiter see what they will pay them then tell the HR department because to them that information is very valued and it may end up helping in the end (Bear).
The following essay will analyze Netflix Company’s social commerce strategy. It includes the definition of social commerce, company history, social commerce strategy that the company is engaging, the effect of social commerce for the company and measuring social commerce success of the company. Below, brief definition of social commerce and the company history.
From its inception, Netflix has become a business based on superior customer service and has subscribed its business to the market marketing management philosophy. The main purpose behind Hasting’s idea of a better way to rent and enjoy movies was how to provide that service to their clients and not have any late fees. In other words, their customers could enjoy their rentals from Netflix for as long as they wanted, and they would never have to worry about late fees again, so long big movie rental chains! This aspect alone of Netflix’s marketing plan indicates that Netflix has based their marketing plan on market orientation, “a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer’s decision to purchase a product,” (Lamb, 2009, p.7). Many companies that take on this philosophy are said to implementing the market concept. The marketing concept states: “The idea that social and economic justification for an organization’s existence is the satisfaction of customer wants and needs while meeting orga...
Reed Hastings, co-founder of Netflix headquartered in Los Gatos, CA, began the company’s operations in 1997 after receiving an enormous late charge from a movie rental he returned long overdue. However, Hastings had the desire to be different than traditional movie outlets; whereas, customers had to drive to the location, pay a certain amount for each movie they rented, and were given a deadline in which to return the movie. Instead of using a method established by other video markets “to attract customers to a retail location, Netflix offered home delivery of DVDs through the mail” which eventually led to a booming business towards streaming forms of entertainment (Shih, Kaufman, & Spinola, 2009, p. 3). Today, Netflix exists along with several competitors; however, offers the most streaming content available for viewing, and continues to grow its subscriber base both domestically and globally. Although, direct and indirect competitors, acquisition costs, and several barriers present a financial threat for Netflix, the company has managed to grow with the acclamation of partnerships, expand to international territories, and vastly increase its price in shares of stock.
As the firm moves forward, top managers must pay attention to staying unique to sustain a competitive advantage. Netflix does not own their content, nor do they have any tangible assets. Netflix is a part of a broad range of network users. As technology continues to grow exponentially, Netflix will have to be readily adaptive to change and innovation. Technology never stops growing and evolving, therefore, Netflix’s business platform should never stop growing and evolving. At the same time, they must be careful to remain user friendly and customer centric by keeping the technology at a level where users will not have to obtain a certain set of technological skill sets.
...mpetitive and it is difficult in order to make greatly effort for the company to keep up its competitive advantages. In addition, the company now already has global brand name and customer loyalty as well as reasonably healthy financial situation after recovering some its mistakes. Netflix could build up further its strategic plans through several viably emerging trends in the marketplace such as network neutrality, video gaming along with transmedia properties and second screen engagement. As mentioned, video games and second screen engagement could be good choices and opportunities for the company to be ongoing health in long-term. However, it should also be noted that Netflix must be committed to take action in the greatest way appropriate to international expansion approach, meeting the challenges forward and finally come out on the top of the ladder once more.
Managers should understand an employee’s skills and abilities to make an informed decision on whether or not to hire him. Once hired a manager uses skills and abilities as a deciding factor for an employee’s job placement within the corporation. Secondly, an evaluation of an employee’s personality helps the manager in his leadership approach of that employee. Thirdly, perceptions can be the deciding factor of whether or not a candidate is hired and or promoted. An individual perceived as fitting in may be hired to negotiate business deals. Particularly, if the individual shows a favorable attitude through actions and deeds and has strong values and behaves
The corporate culture of Google is same as other organizations except for a few unique leadership positions like Chief Culture Officer and Chief Internet Evangelist. Rest all remains the same, where the information passes from higher management to the lower – level employees of various departments. Despite the standard corporate organizational structure, Google has developed a corporate culture based on giving employees way to develop new ideas without excessive oversight.
Organizational culture is imperative to the success of the organization. The strength and core values of the organization is supported by the organizational culture. This allows for organization to operate in a specific manner that is specific to that organization and can pave the path for success. Company founders are passionate about their vision and mission and they elude that passion into their employees. When that passion and mission is successfully implied to the employees the company strives in it 's path to success. Founders of companies are the continuing influence for the company to succeed. They pour the foundation of organizational culture so that the vision of their passion is directed in the right path. Organizational culture
Organizational culture is the key to organizational excellence and leadership is a function to create and manage culture (Chen 1992). Organizational researchers have become more aware of the importance of understanding and enhancing the cultural life of the institution. "This study is one of a group of companies with high-performance in North America, interest in organizational culture is an important element in organizational success. Tesluk et al (1997). Looking at the" soft "of the organization, the researchers claim that" the organizational culture may be suitable for a means to explore and understanding of life at work, and make them more humane and more pronounced (Tesluk et al, 1997), and the graves (1986) also stressed the importance of corporate culture, and the need for research strategies and methods of investigating the various elements and processes of the organizational culture. He argued the culture that meets the basic needs of belonging and security in an attempt to describe this gathering that culture is "the only thing that distinguishes one company from another gives them coherence and self-confidence and rationalises the lives of those who work for it. Standard that may seem random, is to enhance the life to be different, and safe to be similar, and culture is a concept that provides the means to achieve this compromise (p. 157).