MSc Management Management Essentials Assignment Sample
Introduction
A good management practice requires action, as is generally accepted. Consequently, an organization achieves its goals and moves in the right direction at the same time. As managers improve the efficiency and effectiveness of their work through management practices, they are typically regarded as innovators.
In order for a company to grow and succeed, its management practices need to be effective, so they aid in the achievement of this goal (Kassaneh et. al. 2021).http://MSc Management Management Essentials Assignment Sample Organizations use various methods to manage their employees, such as leading by example, creating a strategic plan, empowering and training their staff, and monitoring how they perform.
The Netflix streaming service was launched in 1997 with a subscription model. Also available on Netflix are distribution services for films and television shows. As a result of an agreement between
Randolph and Hastings, the company was founded in 1994 (Voigt et. al. 2017).http://MSc Management Management Essentials Assignment Sample The entertainment industry isn’t the only sector that we serve; we also provide services to the technology and mass media sectors. The purpose of this paper is to analyze Netflix’s management practices and strategies. A cost-effective management approach is needed to effectively employ a global workforce.
Considering Netflix’s core values, the report examines the company’s mission, management style, and values. Emotional intelligence is discussed in both the article as well as its importance for an organization’s performance. As a company, Netflix writes about stakeholder management, teamwork, and resilience.
Figure 1: Netflix Logo
(Source: Netflix, 2022)
Part 1 – Netflix Management Practices
Netflix Mission & Vision
Netflix is an entertainment source for the public, providing services based on monthly and yearly packages. Apart from the United States, Netflix serves its services worldwide, including in Japan, India, France, Brazil, and the Netherlands.
According to motion pictures, it has been evaluated that Netflix generates the most special and different content that users worldwide love (Jenner, 2018).http://MSc Management Management Essentials Assignment Sample In the year ending 2021, there were around 200 million consumers of Netflix, which was growing quickly and rapidly in the world. The business structure applied in Netflix is highly known as the DVD structure.
According to the company’s high earnings and growing popularity, it was assumed that Netflix would be the highest growing entertainment source in 2020. Netflix provides every type of content to the users. It includes more than 30 genres, special stories, characters, series, and more, which help them rapidly increase the customer base (Lobato, 2018).http://MSc Management Management Essentials Assignment Sample
There are numerous entertainment sources, but Netflix has proven to be the best among all others. The organization believes in following its mission of providing entertainment to everyone worldwide. Describes as whatever the taste preference and other things of a human being, Netflix believes and provides the content of each type efficiently and effectively.
To reach their mission, they try to provide the best qualitative and quantitative material to the users, which can be enjoyed over several years. The members of Netflix can control how much they want to watch and what they prefer to see through a single and easy subscription. This feature helps avoid unnecessary advertisements (Lobato and Lotz, 2020).http://MSc Management Management Essentials Assignment Sample
There are three major parts of the mission which involve providing excitement, arranging the highest level of qualitative and quantitative content, plus enhancing a positive impact on the life of consumers. When consumer fulfills their needs without any changes in their preferences, it can lead to high satisfaction, which can turn into a high level of profits.
Providing such content and services can help the organization earn major profits plus maintain good relations with its suppliers, co-workers, and users in the long term (Burroughs, 2019).MSc Management Management Essentials Assignment Sample It is also helpful for increasing the consumer base and satisfying the different partnerships related to the company. To deal with the competition level of the entertainment industry, Netflix focuses on building the best content which can enable it to be a king of entertainment.
Value Proposition of Netflix
According to Netflix’s case study, these are its values:
Figure 2: Netflix Values
(Source: Kelly, 2019)
Different workers manage the activities with the company’s different functions effectively and efficiently throughout the day. The values build-up by the company focuses on guiding the work structure while managing all the actions properly (Griffin, 2021).http://MSc Management Management Essentials Assignment Sample
Finding the main reason for the caused situation can help the company to make effective decisions. To make the decision, the company focuses on data-driven features, including strategic and long-term basis. Netflix also provides new and non-repeated old content, attracting users to watch its shows and series. The organization’s environment of working focuses on being more efficient and effective, which can enhance the creativity of the employee’s mind.
It results in innovative and outstanding content for Netflix. No judgment, basement, and partiality are some golden rules of the company which are essential for achieving the objectives effectively and efficiently (Gershon, 2016).http://MSc Management Management Essentials Assignment Sample
The company believes in initiating high transparency in the different functions of the company so that authentic work should be done properly. Netflix focuses more on satisfying consumers than the company’s process or earnings. It believes that there will be high earnings if consumers are satisfied efficiently.
The company has appointed high qualified experts plus employees who are innovative and creative in their special manner (Maddodi, 2019). http://MSc Management Management Essentials Assignment SampleThe organization has made the team for every task according to their capabilities and responsibilities, enabling it to create content with specialization.
Selecting the Most Appropriate Management Style
Management style should be picked while being very demanding as it focuses on how the work will be maintained and done in the firm. The company should consider all the history before choosing any management style. Netflix tries to hire the best employees, which can be done through training and development (Sulich et. al. 2021).http://MSc Management Management Essentials Assignment Sample
The company’s policies believe in hiring those employees who can give their best to achieve the objectives properly. The company believes in using an aggressive and strict management style according to the functions, policies, and structure of Netflix. Effective and efficient feedback is provided to the employees where sufficient recognition and awards are given to the good employees, whereas inefficient workers can negatively impact their reputation and image (Ayub et. al. 2017).http://MSc Management Management Essentials Assignment Sample
The company gives the employees various opportunities to express their ideas, views, thoughts, and more. All the decisions like building objectives, strategies, working structure, policies, and more and discussed among all the members of the copay to take different options for improvements. If an employee is having any problem with any above factor, they can derive it and suggest a more effective viewpoint over it.
According to the circumstances, the company should focus on building a different and positive working environment that helps the employees to give their best and achieve the results effectively and efficiently (Hartono and Maksum, 2020).http://MSc Management Management Essentials Assignment Sample The employees automatically perform best as they feel a sense of ownership, responsibility, and belongingness towards the company. In the organization, the employees are free to express their views while having different customers in their special manner.
Moreover, the employees have access to the company’s data for making various decisions relevant to achieving the company’s objectives. Netflix shares only reliable documents with the employees without sharing the most internal and private data effectively.
The company’s leaders take various decisions after making proper meetings and discussions with all the company employees (Yahaya and Ebrahim, 2016). http://MSc Management Management Essentials Assignment SampleTo make specify about a small reasons e-mails are used by the company. Additionally, the memo is used effectively and efficiently for making different huge decisions.
Netflix’s Values, Mission, and Management Practices are congruent.
According to the case covered in the report, Netflix is highly concerned about its vision, objectives, mission, values, and more. Performing within the ethical values and morals helps the company to increase economic growth and employee involvement effectively and efficiently.
It enhances the productivity of the employees effectively and efficiently (Gordon, 2017).http://MSc Management Management Essentials Assignment Sample To achieve the vision and mission of the company, employees try to adapt new methods, which need to be explained to the firm’s leaders.
Values and morals play a huge role in showing the path to achieving the company’s vision and mission. They try to update the mindset of the consumers by using the best management skills to achieve the organizational objectives effectively.
The team hiring employees describes the vision and mission so that people with the capacity to achieve the same can be employed sufficiently. Additionally, different thoughts, ideas, and opinions of their employees are taken into consideration by the managers for making efficient further changes (Lubis and Hanum, 2020).http://MSc Management Management Essentials Assignment Sample The company’s oral values properly give the workflow direction to all the members.
The recruitment and hiring procedure is an important process as employees are the essential source of achieving the objective, and that’s the reason for hiring the best candidates for the organization. The main skill of providing new and skillful ideas is the source of achieving the mission of the company plus its objective. It helps be the highest entertainment source of the company.
Moreover, it can be evaluated that the company focuses on enhancing the mindset of the employees so that they can provide innovative and creative ways of achieving the objectives uniquely and especially.
Part 2 – Key Business Challenges of Netflix
Netflix’s Challenges
Streaming video-related content, Netflix is considered the highest and the most earning source of entertainment. The company is serving the most special, unique, and different content types, which attract more customers to use the source for entertainment.
It provides documentaries, series, movies, and more for every type of person worldwide. Many competitors try bringing Netflix down while generating entertainment content in different countries (Rumeser and Emsley, 2016). http://MSc Management Management Essentials Assignment SampleThey try to compete with the process while serving at low rates the same type of content. It has become a barrier for Netflix to deal with other online entertainment sources effectively and efficiently.
To give tough competition to other sources, it is essential to build its ideas, thoughts, and ways which are highly innovative and creative in the application. Some experts enhance employee participation by providing encouragement and motivation effectively and efficiently. The customer base was highly increased during the pandemic and lockdown worldwide.
The company treats its employees as the most important and valuable part of the organization, which helps them to achieve immense growth and objectives. The situation worsens when the customer starts decreeing due to high competition (Madanapalli et. al. 2019).http://MSc Management Management Essentials Assignment Sample Netflix has faced the situation where the old users were declining, lacking in creating new and attractive content for the people. The company has faced numerous problems, but they can be solved using two management prices effectively and efficiently in the organization.
- Netflix faces tough competition because one of the most famous online platforms is Amaxzon.com. It also offers to stream different movies online without a subscription fee.
- Delivering easy access to customers for taking the subscription and watching online videos is tough related to Netflix. The company’s software does not allow access to online videos even after dealing with television producers.
- The payment related to the studio has made a lawful obstacle for Netflix as it wants to use the content from the studios.
Access to the studio content and material that can involve extra fees has been a huge problem for Netflix. This is the reason for taking high subscription fees because the company’s expense is very high, and it becomes a burden on the consumer’s shoulder (Vogel, 2020). http://MSc Management Management Essentials Assignment SampleThis is why customers have to pay more than they thought about the fees. This results in a shift of old users to different online streaming services that satisfy their wants and needs.
Creativity
To lead the competitive market, creating unique content for every generation is essential. The company has effective and efficient skills to make its best and special content. To progress and grow in all dimensions, the company needs to apply innovative and creative methods and strategies.
The company’s working environment is highly responsible for delivering creativity to the employees while enhancing their mindset (Collis, 2017). http://MSc Management Management Essentials Assignment SampleAs per the report, Netflix provides sufficient guidance and support to achieve objectives easily. The organization considers different opinions, actions, and thoughts to make the best further decisions.
Proper distribution of duties and responsibilities can make the employee more creative while achieving the goals in unique ways. The company should use similar methods to achieve its goals without difficulty. The company can only lead in the entertainment industry if it uses creative methods to provide content to users while declining prices.
The management tries to take employees’ ideas for building the managerial practices and operations of the company. The success of Netflix is that it focuses on taste, preferences, and consumer demand before creating the content (Hüttermann et. al. 2019). http://MSc Management Management Essentials Assignment SampleAccording to the above explanation, it can be evaluated that it is essential to create innovative content to give tough competition to other online streaming platforms.
Decision-Making
The CEO of Netflix, Reed Hastings, describes how the company focuses on making unique and different decisions. It is a high need to maintain the company’s future success effectively and efficiently. In this order, the company can evaluate the best alternatives while aching the good choices for the company structure.
Building decision-making abilities and skills are tough for every organization (Wong et. al. 2018).http://MSc Management Management Essentials Assignment Sample It is highly assumed that the top-level manager t of Netflix is responsible for granting the best resolvers for the issues and decisions of operations.
The company needs to make effective decisions that help solve the streaming obstacle relating to all the online platforms serving the same services. It can be discovered that the major problem related to the obstacle to the success of Netflix is tough competition in the industry.
Netflix has been appreciated for following the company’s effective and efficient management skills. The company does not demand more timing from every employee, and it does not affect the unprofessional lives of the same.
Factors like encouragement and motivation must be provided more in the company to achieve the numerous benefits (Humphreys and Luk, 2022). http://MSc Management Management Essentials Assignment SampleEffective management practices help the employee to maintain a balance between professional and personal space and time.
To increase employees’ involvement and participation, they are included in the Decision-making process effectively and efficiently. This factor helps increase the economic growth plus productivity in the material operations of the company.
A guided and motivated employee performs all their responsibility with more focus and tries to get success in less time while following n easy process.
The company must face the competition uniquely and sufficiently to create effective content. With the help of a motivated and enhanced mindset, the employees can easily find the root causes of the different issues while seeing the various solutions.
The company makes several assumptions about the results before making any actions towards anything. Right choices lead to succession for the company. Disney Plus, Hulu, and Amazon are the companies giving tough competition to Netflix.
Part 3 – Netflix Managers’ Emotional Intelligence and Its Potential Impact
Emotional Intelligence
Emotional intelligence is a term which can be described as the sills of understanding one person’s emotions by another open. Understanding different situations and circumstances faced by the employees is a tough task for every leader. Considering every employee’s situation properly is essential without comparing negative judgment.
Any individual with emotional intelligence can maintain and express emotions properly (Lievens and Chan, 2017). http://MSc Management Management Essentials Assignment SampleOn a professional level, managing emotions is a different task as you have various duties and responsibilities that must be done properly. A test of emotional intelligence should be added to the recruitment procedure as it helps to get maximum knowledge about the perspectives and history of the individual.
There is an uncountable technique that is created for calculating emotional intelligence. It includes saying no, expressing judgment, improper perspective and advice, and dealing with criticism. Its terminology takes five stages to be understood. Checking up on the emotions of others is the very first element while understanding them properly.
Self-judgment and awareness are other factors needed to be considered as an effective individual skill. The next factor is knowing some other emotions while thoroughly understanding their viewpoint (Ackley, 2016).http://MSc Management Management Essentials Assignment Sample Additionally, one should be aware of managing health and good relations with others while having effective communication skills.
Netflix’s Emotional Intelligence
Different operational practices of Netflix focus on increasing employee involvement more in the management activities. Employees’ commitment is highly needed for achieving the goals effectively and efficiently. Top-level management forces the employees to get involved in all types of decision-making procedures which help them to enhance their capabilities.
Reed Hastings influenced the managers to increase the to work using such elements, which can increase employee motivation. This terminology helps enhance the overall intelligence of the employees.
It provides clarity and creativity in mind, achieving objectives. Uncountable breaks are allowed on Netflix, which is a sign of innovative ideas. According to the demand and needs of the worker, numerous breaks are allowed to them (Lopes, 2016).http://MSc Management Management Essentials Assignment Sample Employees were highly satisfied with this decision.
It was an important decision as employees must balance their office and personal lives. An employee who was against this decision has been found. In this, a subordinate can be terminated if they take a long-time vacation.
For the above case, an instance is highly given. An employee named Donna worked night shifts and did not take any break for the past four months. She was afraid as her colleagues and boss were enthusiastic about the work. She thought they could terminate her if she took a break.
In this organization, principles and their application are two different approaches. The firm faces this issue if effective and efficient management practices are not adopted.
Feedback from CEO is highly essential in these cases. With the help of suggestions and feedback, the company can make several positive changes in the weak areas (Goleman, 2021).http://MSc Management Management Essentials Assignment Sample management is the leadership approach that must be applied in such a way that is guaranteed success.
Netflix’s Managers Impacted by Emotional Intelligence
Productivity and performance are both increased with the help of emotional intelligence. Increasing participation and providing motivation help the employees to work with more potential.
Vacations and breaks are like a performance booster for the company as employees come up with more innovative ideas and thoughts. The company needs to adopt emotional intelligence skills to hire new employees while retaining the old ones.
Workers work with enhanced skills and abilities toward the company’s goals (Petrides et. al. 2016). http://MSc Management Management Essentials Assignment SampleUncountable managerial practices are needed to enhance the skills lie effective listening, communicating, expressing, and more.
Task 4 – The Alignment of Netflix Values and Management Practice
Figure 3: Netflix Culture of Success
(Source: Miguel, 2018)
Managing Yourself – Resilience
A company’s resilience is characterized by its capacity to adapt to changing conditions. The resilience of a business depends on its ability to adapt to uncertainty and risk, as well as respond to changing conditions.
With its focus on brand value, human resources, and asset protection, the concept has grown in popularity in recent years. An analysis of business organizations must take into account factors that cannot be controlled because their dynamic and complex environments cannot be controlled (Hillmann and Guenther, 2021). http://MSc Management Management Essentials Assignment SampleIn order to prepare and adapt to sudden changes and interruptions, organizations might be able to make use of resilience theory by developing strategies and methods based on forecasts and predictions.
Netflix Resilience Cycle – Case Study
- Support from social networks
- Provided are approaches to solving problems
- Defining goals and establishing a clear vision
- As the entertainment and media industries have developed over the last ten years, there has been a significant shift in the industry. There have been significant changes to television and movies in recent years due to OTT platforms and the internet’s availability of content. In order for resilience to be enhanced, these factors must be maintained by keeping a Positive Attitude.
Various external factors affect the operation of a business, such as technological advances, financial developments, reputational issues, and organizational issues. Adapting quickly to these changes, therefore, requires organizations to analyze these forces and develop solutions (Ortiz‐de‐Mandojana and Bansal, 2016).http://MSc Management Management Essentials Assignment Sample This demonstrates how Netflix is adapting to the demands of consumers, as it is able to recognize trends and patterns quickly. Consumers as a whole benefit from the innovative content created by the organization.
Personalization has enabled it to maintain its subscribers by offering them a variety of options. The investment in artificial intelligence and business intelligence allows Netflix to anticipate future demands, even though it competes with other companies like Amazon and Disney.
Consequently, it provides subscribers with relevant and attractive content. Furthermore, the company analyzes its customers’ purchasing patterns and habits by tracking past purchases and payments.
Keeping prices competitive and profitable simultaneously is a key part of the company’s price strategy (Kurti et. al. 2021). http://MSc Management Management Essentials Assignment SampleNetflix reinvented itself by using an innovative approach during the crisis, according to the case study. In order to adopt the backward integration industry, they created their own original content and understood future trends.
Managing Relationship – Stakeholders
Stakeholders are individuals or organizations with a stake in the organization’s performance and operations. Companies’ successes and failures are directly and indirectly impacted by these individuals.
Besides providing financial and operational assistance, they also offer marketing and business development services (Desai, 2018).http://MSc Management Management Essentials Assignment Sample Regardless of whether they are external or internal, this category includes both.
According to the study, internal stakeholders consist of employees, shareholders, and leaders. In addition to the CEO, CFO, department heads, and other key employees on the leadership team, there are a number of other executives and board members.
Managing the overall operations of different departments and regions is the responsibility of multiple vice presidents in this multinational company.
A total of 12,035 people are employed by Netflix at the moment across a variety of departments (Hidayati, 2022).http://MSc Management Management Essentials Assignment Sample In addition to marketing, media relations, content creation, and corporate governance, these professionals are responsible for a number of activities.
Employees are considered an organization’s primary internal and external stakeholders because they provide the organization with the ability to meet consumers’ needs. Compelling and specialized services are essential to a company’s success and growth. By utilizing the capabilities of these professionals, the company is able to create new content, adjust to changing tastes, preferences, and economic conditions, and adjust to new technologies.
Investors are shareholders of a company who participate in the company’s business by owning shares of the company. It is shareholders’ primary responsibility to manage the financial affairs of an organization, and maximizing profits is a particular concern.
The case study illustrates how Netflix’s stakeholders have enjoyed higher returns due to its continued growth and expansion of its customer base (Meng et. al. 2022). http://MSc Management Management Essentials Assignment SampleStakeholders have benefited from this and financial performance has shown a consistent upward trend.
The Netflix network is directly owned by several shareholders. As a result, informing and receiving input from employees is very important for any organization.
Customer, competitor, subscriber, regulatory bodies, pressure groups, and publishing companies also fall under the category of stakeholders outside of these external parties. With Netflix being a subscription service, subscribers are Netflix’s primary revenue source.
The importance of maintaining satisfied customers increases in this situation. A dissatisfied customer could cause a loss of revenue and customers. Netflix is focused on promoting international content as well as developing and promoting original content.
In addition to developing content, the company has developed a licensing strategy to develop independent producers and distributors, both of which are critical to its success.
There are many other companies that may be considered competitors, such as Apple, Amazon, and Disney. In order to achieve a competitive advantage in the marketplace, a company monitors the activities of its component parts and implements strategies that will help it to achieve that advantage.
Various regulations and corporate governance requirements in different countries are followed by Netflix to ensure that its operations run smoothly (Maddodi, 2019).http://MSc Management Management Essentials Assignment Sample We set policies, procedures, and standards that the company follows in every location in order to operate effectively.
Managing Relationships – Negotiation and Conflict
An organization with a large employee base is likely to see conflicts and disputes every day. In this situation, misunderstandings and confusion lead to delays in operations management and efficiency. When two people disagree on opinions or have different viewpoints, they get into arguments and conflict situations.
In order to maintain organizational harmony and coordination, it is crucial that employees have strong, harmonious workplace relationships that are clearly defined (Heath, 2020).http://MSc Management Management Essentials Assignment Sample Businesses should consider diversity management as a key component of their culture in order to avoid conflict from negatively impacting productivity and performance.
As a result, diversity management is of utmost importance to every business. Netflix employs a large and diverse workforce in this case study, resulting in conflicting situations. Management must create an environment that empowers employees and facilitates effective collaboration and understanding among them so that employees can collaborate effectively and understand one another.
In order to maximize respect, compromise, and mutual understanding, all negotiations must be focused on respect, compromise, and mutual understanding. For Netflix’s management to resolve conflict, it must address the root causes of business conflicts rather than only focusing on the current state of the relationship.
Organizations can choose from a variety of negotiation methods to resolve disputes and motivate employees. In different circumstances, different styles can be used, including collaboration, compromise, avoidance, competitiveness, and accommodation. The importance of self-confidence and attention to personal concerns during competitive negotiations cannot be overstated.
Relationship building is the primary focus of negotiators and combating conflict with avoidance techniques is the secondary focus (Barsky, 2016). http://MSc Management Management Essentials Assignment SampleThere is a tendency for many negotiators to avoid neutral and natural managers. Due to its focus on resolution and conflict prevention, less cooperation is required.
The aim of accommodating negotiations should be to achieve mutual benefits for both parties. As part of this type of negotiation, the objective is to minimize disagreements between parties and present content that can be agreed upon by all. Negotiations that result in compromises can resolve conflicts in ways that benefit both parties.
As part of the collaboration style, honesty and communication are emphasized. Additionally, to internal conflicts, disputes can occur outside of an organization. A competitor might have an argument with a customer, or a customer might be concerned about the company (Hallinan and Striphas, 2016).http://MSc Management Management Essentials Assignment Sample According to the case study, Netflix’s brand image has suffered significantly as a result of the controversial relationship between Netflix and Cineplex.
Therefore, negative press coverage has resulted for the company. It is essential that Netflix’s values and communication channels are integrated in order to resolve such conflicts peacefully. It will not damage the brand image of an organization if it successfully applies its values in negotiations without compromising them.
Managing Teams – Teamwork
When team members work together for the purpose of completing several tasks, they accomplish a common objective by bringing together several activities under one objective.
Collaboration and mutual understanding between individuals working on similar platforms are the keys to achieving strategic objectives for a specific purpose (Klievink et. al. 2016). http://MSc Management Management Essentials Assignment SampleMultiple complex projects can be completed simultaneously with it, which is almost universally acknowledged.
Collaborating and sharing resources, goals, individual skills, and motivation through reward systems are essential characteristics of teamwork.
Multilingual and multiregional teams are likely to be composed of members from a wide range of cultures, as well as coming from many languages. The firms are able to gain specialization and experience across a wide range of fields and backgrounds, which contributes to their competitive edge
. For its business to operate smoothly, Netflix relies heavily on teamwork. It is the Netflix manager’s responsibility to supervise the team’s tasks and make sure they are completed on time (Shaw, 2017).http://MSc Management Management Essentials Assignment Sample
Along with providing high-quality advice and leadership, the company’s management team contributes to the overall strategy of the company. When teams work together, they are more productive, and they are able to come up with innovative solutions.
As well as providing proper guidance to team members, a good leader should be able to lead the team quickly toward its goal.
Well-managed teams are more efficient, and effective, and provide a more harmonious environment. Additionally, they facilitate communication and motivation, which ultimately improves production and growth.
There is a high degree of diversity among Netflix Corporation’s employees since the company is part of the entertainment industry. It emphasizes the significance of motivating and empowering employees in order to maintain a commitment and dedication to the organization.
In order to develop new content, it is imperative that new films, documentaries, and television shows being created. In order to make final decisions, coordination and cooperation are of utmost importance.
Communication is one of the company’s core values, so it is crucial to maintain clear lines of communication and to maintain transparency. The application of appropriate and precise control and monitoring procedures may contribute to bringing clarity and reducing delays in the process (Dahan Katz, 2019).http://MSc Management Management Essentials Assignment Sample
Communication may also boost productivity when there is an open line of communication. Employees at the organization are able to assess their own strengths and competencies, as well as receive support from others, as part of the organization’s commitment to promoting learning.
Employees and organizations benefit from this environment, which is conducive to growth and development.
With a high value on transparency in accountability, Netflix strives to establish an open-door policy and foster a supportive working environment. In order to maintain its competitive edge, the company seeks out high-caliber employees.
As part of its visual communication strategy, the company informs team members clearly of the company’s goals in order to ensure they follow the vision and achieve their objectives as outlined in the vision.
Conclusion
The report is about the famous entertainment company Netflix. It briefly explains the company’s mission, vision, and objectives. The company follows various practices to achieve these factors. Netflix maintains the balance between its goals and operations.
The company must bring more creative content to retain customers while increasing its customer base. The organization is said to be the king of the industry while serving the best content to the users. The company considers all the past experiences before making further changes and applying new policies in the organization.
They try to encourage the employees to come up with creative ideas to help fight the right competition. The working environment focuses on hiring the best employees, which can help achieve the goals.
According to the case study, it is explained that the company’s strategy is highly essential in maintaining the objectives. External and internal factors are considered for taking creative and different decisions.
Following ethical values and maintaining transparency are some factors that the organization needs efficiently.
The happy and harmonious environment of the company can help the employees to be encouraged and work with satisfaction. Netflix is maintaining various workers having different mindsets and personalities altogether.
It also enhances the factor of emotional intelligence and understanding. Knowledge, creativity, motivation, emotional understanding, and many more factors are required to succeed in the entertainment industry.
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