Project plans outline the intended course of even
Project plans outline the intended course of events; however, things don’t always happen as intended. Organizations need to consider risks and develop a contingency plan. This plan is typically presented to management.
Based on your prior research, determine potential risk factors for not meeting each of the project objectives. Develop a contingency plan for each of the potential risks. Add the potential risks and contingency plan to your Wk 4 – Apply: Project Plan assignment.
Create a 12- to 14-slide presentation with detailed speaker notes and visuals on every slide in which you:
- Identify the organization’s information presented in Wk 1.
- Synthesize the SWOT analysis and market trend research.
- Explain how the project objectives will advance the organizational goals.
- Assess how success will be measured.
- Evaluate the value this project will bring to the organization.
- Identify project metrics, timelines, and responsible parties.
- Develop a contingency plan for each of the potential risk factors for not meeting each of the project objectives.
BUS/475 v11
Degree of Alignment: Advanced Organizer Review the companies listed in the case studies portion of the textbook. Choose 1 of the companies to use for all weekly assessments. Complete the chart below with information provided in the textbook and other resources. Provide your analysis below the chart.
Organization
Selected Organization: NETFLIX INC
Describe the organization in the following chart. Each description should be 75-100 words.
Element Description
Mission Netflix Inc. mission statement states “We promise our customers stellar service, our supplies a value partner our investors the prospects of sustained profitable growth and our employees to allure of huge impact.” Netflix acknowledging great service and entertainment through their online app services for their customers and investors. They don’t take their customers needs and suggestions for granted.
Vision Netflix vision statement is “Becoming the best global entertainment distribution service.” This is based on the company that wants to provide excellent streaming and entertainment services worldwide. Netflix wants to be the best and remain vibrant when adopting the latest user-friendly features to make sure their customers have the best experience that they can provide when streaming. They have positioned themselves as a global establishment to fulfill the component in its vision statement. Netflix accommodates all cultural backgrounds innovatively.
Values Netflix core values are judgment, curiosity, communication, passion, courage, innovation, selflessness, integrity, inclusion, and impact. These values help the growth of their company model and to achieve their goals. Also, this will help the company’s operations to run smoothly. Netflix are big on not hurting any person, religion, or group. They just want to entertain everyone with amazing and authentic stories. Netflix is committed to be original and authentic across the board.
Structure Netflix structure is a U-form or unitary organizational structure. This involves hierarchy which maintain executive control and the direction
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Degree of Alignment: Advanced Organizer BUS/475 v11
Page 2 of 3
Element Description
throughout the company. This organizational structure promotes cooperation, open communication despite the hierarchical structure. Netflix has a flat organizational structure. But employees have more responsibly and freedom such as unlimited vacation days and lenient expense account policy.
Culture Netflix culture is putting people first than process. They want their company culture to be built on responsibility and freedom. They believe if they hired people that wants freedom and can take accountability and be responsible for their own behaviors and decisions, they can have a thriving culture and business.
Analysis
Netflix Inc. is a company that provides streaming services through subscription to over 190 countries. Netflix is a mission-oriented company, and the mission statement is aligned to be committed to make sure their customers are satisfied with their services and are heard on opinions, suggestions, and idea they may have. The company is aware of their customers needs and to reach more people and to educate, engage and entertain all audiences by using better content and different content formats to stand out from their competitors.
The company is vision-oriented because it aligns with the vision statement. Netflix is based in the United States but expand to over 190 countries worldwide and them being diverse, Netflix has different content available for all cultural backgrounds innovatively. Netflix is also adding services to Korean, Chinese and Arabic which they already have 17 languages that current supported. The company understands their customers’ expectations and perceptions to provide excellent and quality entertainment services to grow and become the best streaming company globally.
Netflix core values is aligned with the company being committed to meet and exceed their customers satisfaction through their online subscriptions and content. The benefits such as inclusivity allows them to collaborate with people of diverse cultural backgrounds and to recognize any bias.
The structure is very important in every organization. Netflix is focused to create a structure that will guarantee success through good communication throughout the company which will help them to minimize communication challenges. In alignment with this structure, they can reduce the complexities in management and high levels of executives will report to the Chief Executive Officer to address issues.
Corporate culture is very essential for the company to be successful to against their competitors. In alignment with communication, Netflix has developed communication strategies that ensure fast, efficient, and accurate communication over multiple geographical zones. Organizational culture and structure will always be more successful than companies that are not structure because they have strategies that are in place to help productivity and promote employee performance and
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Degree of Alignment: Advanced Organizer BUS/475 v11
Page 3 of 3
engagement. This will help Netflix to decrease employee turnovers, elevate productivity, having a safe and healthy workplace and to increase employee engagement. So, to achieve success in the workplace you must have great communication with your employees, listen to suggestions, opinions, and ideas. Be consistent and provide feedback.
https://www.netflix.com
Strategic management, Frank T. Rothaermel, fifth edition NY McGraw Hill Edu. 2021
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- Organization
- Analysis
,
BUS/475 v11
Project Plan
BUS/475 v11
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Project Plan Template
Project Title:
Project Objectives:
· Customer objectives
|
Responsible Person |
Timeline |
|
|
Review Netflix’s customer database to determine the lost market share |
Director of Marketing research |
1 week |
|
Survey the customers to identify their tastes and preferences |
Marketing Researcher |
6 weeks |
|
Increase human interaction to assist the customers in solving the problems they are experiencing |
Marketing Researcher |
6 weeks |
|
Increase the number of contents to increase customer retention |
Creative director |
6 months |
· Internal business objectives
|
Operational Step |
Responsible Person |
Timeline |
|
Increase the rate of product differentiation. |
Chief executive officer |
1 year |
|
Increase technology reliability |
IT Manager |
1 year |
|
Improve the overall brand image |
Data Analyst |
1 year |
|
Increase employee commitment |
Chief executive employees |
6 months |
· Financial Objectives
|
Operational Step |
Responsible Person |
Timeline |
|
Intensify production |
Marketing Manager |
1 year. |
|
Increase revenue |
Finance manager |
1 year |
|
Improve profitability. |
Finance manager |
2 years |
|
Minimize cost. |
Finance manager |
3 years |
· Why these objectives are appropriate for the project.
The above objectives of Netflix will serve as a strategic plan for the project, but they are also attainable. The goals are appropriate to the company since its main aim is to improve its competitive advantage against the competitors enabling them to even out the growing competition. Reviewing the lost market share will provide Netflix with why most of their customers are unsubscribing from their offering. As a result, customer objectives, in this case, are appropriate since they focus on establishing a firm foundation for Netflix to provide support and provide customers with an opportunity to watch their favorite films without interruption. This will enable the company to gather more customers and general satisfaction, which is essential for the success of Netflix in customizing their products to offer more affordable pricing (Management Glossary Content Team, 2020). On the other hand, the internal process objectives are appropriate as they aim to help Netflix widen the rate of content creation, which they can supply to their large ready market and play an integral role in improving the organization's overall quality content and participation in enhancing employee's productivity. At the same time, the financial objectives identify the economic opportunities that the company can explore to become more competitive in the market.
In attaining these three objectives, the organization will amplify its operations, making them more effective and boosting the superiority of its outputs, thus increasing competitiveness. On the other hand, getting the opportunity to learn and support the growth of these objectives is appropriate because their main goal is to widen Netflix's performance and financial health. As a result, developing these objects will improve Netflix's financial performance, ensuring that it is above other competitors and that the objectives will be accomplished accordingly.
· Why these metrics and timelines are appropriate for your strategic plan.
The objective metrics are appropriate for this strategic plan as they can accurately signify the number of customers who have exited Netflix's market share and guide them on strategies, they can utilize to expand their prominence to other markets, intensify the volume of content and establish partnerships which will help in reducing costs of producing new contents. On the other hand, the metrics are appropriate since the goals involved are short-term in nature and thus align with Netflix's organizational goals (Biddle, 2020). Apart from that, these objectives are in the second quadrant, and none of the purposes is under 2 years. They are essential because they will be assisting in evening out organizational participation, which is vital for sturdy outcomes. Areas The last quadrant is appropriate to my strategic plan because it maps out key strategies that the company can maximize, thus increasing competitiveness and improving the financial health of Netflix.
References
Biddle, G. (2020, October 1). Netflix's 2020 product strategy. ProductLed. https://productled.com/netflixs-2020-product-strategy/
Management Glossary Content Team. (2020, April 13). SWOT analysis of Netflix in 2020 | Netflix SWOT. Management Glossary. https://managementglossary.com/swot-analysis-of-netflix/
Copyright 2020 by University of Phoenix. All rights reserved.
Copyright 2020 by University of Phoenix. All rights reserved.
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