Netflix Proposal Student’s Name Institutional Affiliation Strategic Plan Proposal for Netflix Netflix Inc is a multinational company that is located in Los Gatos in California and supplies internet-streaming media in North and Latin Amkim woods
Strategic Plan Proposal for Netflix
Netflix Inc is a multinational company that is located in Los Gatos in California and supplies internet-streaming media in North and Latin America, Australia, Japan, New Zealand and some small parts of Europe. Netflix was developed in 1997 by Reed Hastings and has managed to grow beyond expectations. But in recent times its reports have shown that the company is not getting the ride as smooth as it has always been. The company today is under a lot of pressure from some of its competitors since many players have entered the fray. There is need to alter the business strategy as proposed in this paper.
In coming up with the mission, Netflix has to know that they are doing that which they are doing. The mission must entail what Netflix is doing every single day as it moves towards achieving its goal (Jeffs, 2008). It also allows for alteration even as the business keep changing with the changes that take place in the market. The core purpose as to why Netflix exist is the mission and this has already been written in the minds of people in the company.
One the business know that they are doing that which they are doing they have to determine what they are trying to go which is the vision. Netflix current situation has already been attained and the most important thing is determining what the future holds for the company. The vision that will be developed must create a mental picture of the organization to the stakeholders (Jeffs, 2008).
Knowing what you are doing and understanding where you are going is determined through how you are going to where you want the organization is supposed to be. The three points in strategic management are the important glue that will hold Netflix together at the current state and in future (Jeffs, 2008). While creating the value statement for Netflix it will be important to understand that it gives the guiding principles of the organization, and how the staff in the organization should act starting from today moving forward.
The above statements are fundamental to the strategic plan and therefore it will be very important to take time and create them in a manner that will be illustrative of the objective of the business.
Strategies on People
Netflix should strive to be an organization that attracts the best employees, take them through a process of training and development and remunerate them in the most equitable and fair way (Wheelen & Hunger, 2004). This will be the intention of the business even as it alters its human resource plan to be in line with the management long term goal of having the best staff.
Sources for External environment Analysis
Situational analysis deals with looking at the external environment, this is where we look at the opportunities and threats of the external environment (Jeffs, 2008). The external opportunities will entail the market gaps that Netflix could utilize, it also makes up new markets that Netflix could open up to and the some simple opportunities for growth. External threats we will look at competitors and the new products that they could be creating and introducing into the market. There are a range of external factors that could lead to opportunities or threats depending on specifics. There is an instance such as alteration of the law which can lead to an opportunity and threat depending on what angle will be detrimental to the business (Wheelen & Hunger, 2004). The market also is not static, it is dynamic and it does change day after the other. There are changes in customer preferences that Netflix has to consider when coming up with the strategic development plan. If such factors are not considered in creating the business strategic for Netflix the business may end up struggling
Sources for Internal environment Analysis
Internal information for strategic development can be created through looking at the strengths and weaknesses of the organization. An analysis of the internal strengths and weaknesses offers insightful and helpful information that leads to accomplishment of internal goals as well as analysis of internal environment can lead to an advantage when dealing with the external environment (Jeffs, 2008). All the components of the business should be analyzed when dealing with the internal strengths and weakness. We will look at the employee educational levels, and come up with the competitive advantage in the workforce. The production system in Netflix can also be reviewed in order to determine the impediments and spot the level of competitive advantage.
Jeffs, C. (2008). Strategic management. Los Angeles: SAGE.
Wheelen, T., & Hunger, J. (2004). Strategic management and business policy (9th ed.). Upper Saddle River, NJ: Pearson Prentice Hall.
- 5 years ago