Netflix, is one of the biggest television provider which offers various plans to its clients, which includes streaming via the internet as well as DVD’s purchase through the mail. The company trades publically, with a total assets estimated to be $13,586,610 as at the end of the 2016 financial year. Founded in the year 1997, Netflix is associated with the downfall of the rental video stores. The company enables their clients to stream services on their tablets, phones or television. Despite having the largest market share in the industry, the company faces stiff competition from Hulu Plus and Amazon Prime. The company has an additional service which allows clients to revive DVD’s via mail. The services are available at various monthly rates making it affordable for the clients.
Netflix provides original programming as per their strategic expansion plan. Some of the series include Luke Cage, Daredevil as well as Orange is the New Black among others. These series have attracted more clients towards Netflix, however the competition in the industry is still high. The company should reconsider their business model to ensure they are considering the benefits against the risks involved. Among the challenges that the company is facing is competitors, which include Amazon Prime Video, PlayStation Vue and Hulu Plus. Hulu and Amazon offer similar service as Netflix, while PlayStation Vue provides alternative to the live television, this is cheaper compared to cable. Additionally, it is worth noting that Hulu and Amazon also provide their own original series programming, which has the ability to pull customers away from Netflix depending on their interest. Therefore it is essential that Netflix takes a look at the packages offered by their competitors so as to ensure that they provide quality services to their clients at a low cost.
Another challenge that is facing Netflix is their finances. The company expenditures are higher compared to the amount there are making. In 2017, the company spent more than $2 billion on original programming without a clear plan on how the company was to recover despite the new membership signups. In a Capstone project, the author of this paper will attempt to show ways that the company can recoup its investment without depending on new subscriptions. The company can reduce the deficit in the investment by offering its clients the ability to purchase an episode or an entire season alongside their current subscription. With the current technology being employed by the company can be utilized to add more programs that can generate income. Teaming up with HBO via HBO’s original programming to play on their network.
Netflix has a strong team of employees that have deep knowledge of the leadership required to run the business, however, the business requires an external solution in order for them to recognize the challenges as well as the available solutions. The diverse group of employees employed at Netflix should also be put on check as the company expands to more countries. Besides the United States, other countries have diverse culture and it’s vital for Netflix to remember to adhere to the customs and culture of these countries while making their expansion.
Develop a project proposal showing management, time management, accounting, and techniques for management of projects.
Create a capstone project proposal that incorporates data from reliable sources to provide backup information.
Development of a Capstone project that will illustrate deep understanding of both leading and working within a virtual as well as real environment. Additionally, the proposal will show the implication of working in a global environment.
Development of a project proposal, which integrates integrity as well as ethics within the working environment, and also indicate the steps taken to integrate ethics within working life.
Data Source One:
The first source of the data to be used in the project will be from the company’s website, www.Netflix.com. The information of the website includes their financial reports and all about the company. The company is transparent in relation to their financial data and future plans. The website will provide vital information required for the capstone project as well as provide an idea on the strategies to be implemented for the company to be more profitable.
Data Source Two:
Project Management Institute will be the second source of data for the project, their website www.pmi.org, includes information such as project management strategies among others. This project is useful in Project Management Professional certification.
Data Source Three:
Chron, www.chron.com, will be the third source of data. The website contains various articles regarding project management.
- Strategic Plans for a Business
- Estimations of the finances
- Data collection
Each project requires to have a timeline, which includes the time it is expected to be completed and presented. For this project, the timeline is as follows:
|Analysis of Data|
|Power Point Preparations|
Chron. (n.d.). Retrieved May 23, 2017, from http://www.chron.com/
Netflix. (n.d.). Retrieved May 23, 2017, from http://www.netflix.com/
PMI | Project Management Institute. (n.d.). Retrieved May 23, 2017, from http://www.pmi.org/