Professional managers and HR professionals can turn to the experiences of a consultant to get a true picture of what’s going on. The result can provide valuable insights into many facets of Netflix. More importantly, a Harvard Case Study Solution can explain how to make sure it’s done right.
When it comes to the specific operations of Netflix, there are five fundamental parts to the story. By focusing on each in turn, you will get a good idea of how they work. The five basic operations include:
Product Development: For Netflix, this has nothing to do with the customer. It all begins with product development. For this part of the story, a Harvard Case Study Solution can help define the definition of the end goal and communicate the vision for the ultimate product.
Customer Relations: In order to understand Netflix, it is important to understand its customer relationships. This allows the executive to build and implement a strategy that will bring customers back to Netflix. As far as the strategy goes, the Executive VP of Customer Relations will learn how to optimize customer engagement and introduce new products.
Global Perspective: In order to make sense of this portion of the story, the executive must have a true global perspective. It can take a long time to discover the major trends affecting Netflix, and therefore the executive will need to understand what it takes to stay abreast of these trends. This can be accomplished through advanced analytical skills.
Operating Environment: It is the executive team that will operate within this part of the story. The executive team will move toward profitability by understanding where the company needs to make changes in order to be profitable. As well, it is the team’s responsibility to determine if it can make these changes and how to balance what the customer is saying with what the strategy should be.
Operational Control: In the final part of the story, the executive team has to operate within operational control. In this part of the story, the executive will ensure that the process is able to keep the company running efficiently and effectively. This will also allow the team to maintain efficiency with the rest of the operations.
How does Netflix generate its revenue? Simply put, Netflix generates revenue through advertising revenue. In addition, Netflix generates its own content through purchases of programming rights from the likes of Walt Disney, Warner Brothers, Sony Pictures, and so on.
The other revenue stream is in the form of advertising revenue. While advertising revenue has been important in the past, it’s no longer the same thing. As such, it’s important to understand how the advertising industry has changed in order to determine how to create advertising programs that are both efficient and effective.
For example, in Netflix’s eyes, the packaging of the products being sold makes a huge difference in how well the product sells. The flip side of this is that packaging can be a wasted investment because it is not a good way to promote a product. For this reason, Netflix conducts product development and adopts the world’s leading brands for its packaging.
For more information on how Netflix works, consider consulting with a Harvard Case Study Solution. You may find that their past experience and information on how to create the perfect organization to make you realize that there is much to learn from Netflix’s experience. When you focus on the details, your consultant can draw out Netflix’s strengths and show you how to make them a strength.