Week 3 Discussion MBA 5030

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Webster University *

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5030

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Management

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Feb 20, 2024

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Uploaded by MegaHorseMaster787

As defined in our textbook, Strategic Management and Strategic Competitiveness Chapter 1-6, Strategic Leaders “are people located in different areas and levels of the firm using the strategic management process to select actions that help the firm achieve its vision and fulfill its mission.” Netflix at the Startup phase had two strategic leaders --Reed Hastings (Co- founder/CEO) and Patty McCord (HR-Chief Talent Officer)– that made the brutal decision to lay off a third of their workforce and created a work culture of flexibility and freedom. Ms. McCord wrote the now famous slide presentation: “Netflix Culture: Freedom & Responsibility” that included the “Hard Work is Irrelevant” quote. (McCord) The first two Support Activities in the Value Chain (Firm Infrastructure and Human Resources) was the foundation established to allow for Netflix’s change in company strategy (from DVD to streaming) and maximation of the other two Support Activities (Technology Development and Procurement) led them to the Growth Stage out of near obsolescence to success. The freedom and trust placed on those remaining at the company allowed them to reconfigure their primary value chain by working smarter with less. Netflix’s utilized its resources effectively and its capability to adapt was a form of a competitive advantage and demonstrated that controlling the internal environment was key to its success by: (1)Creating value to its stakeholders by implementing a new strategy (from DVD sales to Streaming Service to content creation) (2)At the Startup phase, Netflix was the primary streaming service available (3)The high cost of technology and the logistical infrastructure needed are high barriers that would prevent a new company from directly competing (4)Not substitutable-- although its nearest competitors (Hulu) and (Amazon Prime Video) offer other capabilities (Amazon shopping/quick delivery) and Hulu (live/local broadcasting)—neither

has a marketing strategy (Neflix and Chill) that differentiates it to its customers like Netflix McCord, P., How Netflix Reinvented HR , Harvard Business Review (2013) https://hbr.org/2014/01/how-netflix-reinvented-hr

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