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Chapter 11&12

Like most companies Netflix has created an internal code of ethics which it expects its employees to adhere to but they maintain both high internal and external standards. Because they are the largest streaming service available they have a duty to be diverse and provide representation of their customer base. Netflix is also working to decrease their carbon footprint is high speaks to their values.

Netflix innovation strategy is to focus on maximizing its competitive advantages through its service and product’s innovations, which aim to provide high quality service that is easily accessible.

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Chapter 10

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Chapter 9 blog post

Chapter 9 discusses corporate governance which can play a major role in the success of a company. Another reason I like Netflix is their unique approach to governance. A typical board meets quarterly but Netflix’s board are invited to observe the monthly and quarterly meeting of senior management and also receive the quarterly memo that is structured as 30 page narratives which provide analysis links and supplementary material for any major topics discussed by management. Netflix’s goal is to create transparency… ultimately a well informed board can streamline the decision making process creating a more efficient company.

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Chapter 8

Netflix is a great example how a start-up can gain traction and change an entire industry. Reed Hastings dislike for paying late fees at the video rental store gave him the idea to create Netflix, a company that mails DVDs right to your front door and there are NO late fees! At one point Blockbuster turned down an opportunity to purchase Netflix which I am certain they regret ow seeing as they are out of business. Netflix mail order DVDs and eventually streaming service would change how and where people are entertained. They are a great example of a successful startup.

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Chapter 7 blog post

Netflix can definitely be described as having a global reach. It is currently available in over 190 countries is made available in over 62 different languages. Since Netflix was the first of its kind, I think they did a great job incorporating a global presence into their objectives and have clearly profited from that decision. A lot of times companies will leave out international inclusion, which can be mistake especially in the world of entertainment.

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Blog post chapter 6

Concerning diversification Netflix has historically focused on making sure that it has diversified content which helps increase subscribers. Netflix has the rights to 13,612 titles to choose fromso there is likely to be something for people of all ages, backgrounds, and interests. They have shown interest in breaking into the gaming market which is an ever-growing industry and could be very lucrative if done right.

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Potential Pitfalls of Overall Cost Leadership Strategies: 

A Strategy that can be imitated too easily stuck out to me most because Netflix was the first streaming service on the scene. It is great to be first but that also means that it is only a matter of time before other companies start to follow and that is exactly what happen. There are many established entertainment companies that were able replicate what Netflix has done. I also feel like Disney allowed Netflix to stream their content in an effort to learn how they work. The strategy might not be easy to imitate but it has been done.

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I want to focus on one of Netflix Support activities, technology development. This is something I think they personally do very well compared to their competitors. They continue to invest in creating the best user experience and it show. The app interface and user-friendly features make it easy to watch at home and on the go and it allows you to make different profile for family members. This is an important because one of my favorite things Netflix does is suggest content I would like. Allowing for multiple profiles means Netflix can customize selections for everyone in the family.

[netflixmomma]

Blog Post 1

Netflix heavily relies on technology for success. It is a streaming company after all and uses technology to customize user profiles by taking films/shows they have previously watched and make predations/recommendations for new content they might enjoy. The search feature and categories make it easy to find something to watch. Not every streaming service is as user friendly. Netflix also has a fantastic app that has almost all the features of the website. Below is a breakdown of Porters 5 forces as it relates to Netflix. Competitive Rivalry: There are quite a few competitors in the streaming world who also provide and produce quality work but none with as much content and subscribers as Netflix. There is no cost to switch, customers can simply cancel their subscription and change to a different streaming service. Supplier Power: Netflix is by far the largest supplier of material but with new services such as HBO Max and Disney, Netflix has lost the material original to those companies and started creating their own original work in 2012. Buyer Power: In the beginning Netflix was the first of its kind but it did not take long for other streaming services to surface. Netflix is still in the top position with 232.5 million subscribers and about 44% of the market while the rest is split between 6+ other streaming services. Threat of Substitution: There are many other streaming services and no cost to change. Threat of New Entry: Streaming is a difficult space to enter unless you already have a decent amount of content to provide to consumers like Disney had when they launched Disney+.