Netflix Success And Failure Essay

The story of Netflix was a result of personal embarrassment by the Netflix’s founder, Reed Hastings. Back into 1997 where the whole story of the company begins, Hastings kept a rental VHS for six weeks, forgetting to return it to the rental store. He soon owed a late fee of $40 after he returned the videocassette back to the shop. It was the first time that Hastings faced the problem that there was a rental overdue fee from the local rental store. Later, Hasting found out that most of the local stores used this system to charge additional costs to the customers. Then it made he thought would it be possible if a business does not charge customers for late fee. Hence, he started to think about running a new movie rental business.

Netflix was founded in 1997 by Reed Hastings and his fellow software executive Marc Randolph. Even though VHS was more popular than DVDs, Hasting guessed that the DVDs will get popular and this was an opportunity for them to win the market so they attempted a DVD-by-mail rent service which was an idea that Hastings got it from after paying a $40 late fee for Apollo 13 in 1997. This DVD-by-mail rent service without a subscription was not popular, so Netflix launched the subscription service with a free trail for a month on September 23, 1999 and found that 80% of customers renewed after the free trail ended. In 2003, Netflix turned its first profit as well as reached 1million subscribers. In 2007, when Netflix reached more than 6.3million subscribers, they started Internet streaming services. Reaching 20million subscribers by 2012 was the goal set by Hastings but, their lunch in Canada in September 2010 helped them to reach their goal early than they expected. Even more, when the entire movie rental industry experienced an 8% sales decline, Netflix able to increase their sales. Netflix’s first original TV series called House of Cards debuted in 2013 and help them to attain many subscribers as well as revenue. Now in 2016 Netflix has more than 75million subscribers in over 190 countries, which makes Netflix as the world largest online entertainment subscription service.

In the late nineties, successful entrepreneur and CEO Reed Hastings created Netflix, an online video retailer. The concept was designed to offer subscribers an online library of DVDs from which they could rent, for a flat monthly fee, a prescribed number of movies at a time and exchange them at their leisure. Once finished with the DVDs, the customers would return them via the postal service and receive their next batch of selected movies. All this was accomplished with neither late fees nor shipping fees. The primary goal of Netflix was to provide its large and growing subscriber base with a premier, filmed-entertainment service. By the end of 2004, Netflix had 2.6 million subscribers and although it experienced

Netflix’s strategy is something so simple yet perfect. For a low flat rate, customers have the ability to rent an unlimited amount of movies without the need to even leave the house to pick one out. Movies are received over night and sent back in prepaid envelopes. Allowing customers to rent as many movies as they desire for one flat rate saves customers tons of money and also allows them to do this from the comfort of their own home.

Netflix was founded in 1997 by Reed Hastings, founder and CEO. Prior to this, Hastings founded Pure Software in 1991 and led several acquisitions that allowed Pure Software to become one of the top 50 largest software companies in the world. In 1999, Hastings launched the online subscription service and led Netflix to a subscriber base of over 1 million in just three and a half years, something that took AOL six years to accomplish. Netflix’s business strategy was quite simple, because they had pioneered the online DVD rental industry when DVDs were rare and

The position of manager holds many responsibilities in an organization; those responsibilities range from dealing with requests from upper management and

Management controls or directs people or resources in a group according to ways of thinking or values that have been established. A great way to understand managment is thinking of a team, whether its sports or work. A manager has to assign a person to role he thinks is best for them. You cant put your top golakeeper as a

The story of Netflix was a result of personal embarrassment by the Netflix’s founder, Reed Hastings. Back into 1997 where the whole story of the company begins, Hastings kept a rental VHS for six weeks, forgetting to return it to the rental store. He soon owed a late fee of $40 after he returned the videocassette back to the shop. It was the first time that Hastings faced the problem that there was a rental overdue fee from the local rental store. Later, Hasting found out that most of the local stores used this system to charge additional costs to the customers. Then it made he thought would it be possible if a business does not charge customers for late fee. Hence, he started to think about running a new

As a rule, managers have many responsibilities they need to achieve in order to be successful. Three main

Managers are the organizational members who are responsible to get the organizational work done in a well-organized and efficient manner from their subordinates and lower level employees (Robbins & Coulter, 2006). This essentially requires that they must have developed and maintained strong relations with these employees. It means that they should guide and supervise them in a cooperative way so that they achieve the desired results for the organization without bringing any issues and problems.

Managers are political actors in the organization, and they try to control and influence the organization through internal political actions.

No matter what area of study a person may choose to pursue, they will end up with a manager in some form or another. Whether it is being a student, having a part-time job, or a lifelong career, everyone will be faced with a manager. A manager can be defined as a person responsible for controlling or administering all or part of a company or similar organization (Grout, Fisher, 2011, p.103). In addition to Grout and Fisher’s definition of a manager, a manager oversees all events and ideas held by the organization. Based off of the definition of a manager, it can be concluded that a manager has the most important say in what an organization carries out. Due to the fact that the manager has the highest say, employees tend to

Managers get things done through other people. They make decisions, allocate resources, and direct the

While the organization has evolved in size over the years including the layers of management, the management approach remains similar. The President and CEO leads the company. There are four departments that each have a Vice President assigned to it. Each Vice President oversees the department and has a Director to develop it. Each Director has a Manager for administration of daily activities and tasks. The reporting process is essentially a ladder from the bottom to the top and top to bottom.

An organisation needs managers to be able to accomplish its goals. They contribute to organisational value, its financial performance, and productivity by the efficiency and effectiveness of managerial tasks (Robbins, Bergman, Stagg, & Coulter, 2012). The purpose of this paper is to justify why we need managers in the organisation and how they become so influential to its performance and the employee’s job satisfaction through their functions, roles and skills. Basically, managers are classified to hierarchical levels, so that they perform differently by functions, managerial roles and skills they need to have. This essay will start by explaining why managers are important in the organisation, and afterwards briefly discussing the