One person that stuck out to me on Netflix’s Board of Directors is Ambassador Susan Rice. She was previously the US Assistant Secretary of State for African Affairs and also a Special Assistant to President Bill Clinton. She then was a Senior Fellow at the Brookings Institution in Washington DC from 2002 to 2008. Then from 2013 to 2017, Ambassador Rice directed the National Security Council staff, chaired the Cabinet-level National Security Principals committee, and provided the daily national security briefing to President Barack Obama. In other words, you would not want to mess with her. Her expertise could be helpful for political TV shows on Netflix, like House of Cards and Bodyguard. I think it is so interesting that Netflix has someone like her on the Board of Directors, and I am sure she contributes greatly.
Although not on the board of directors, I was very interested in Netflix’s Chief Content Officer Ted Sarandos. His job is responsible for acquiring and creating content for Netflix (so cool!!). The best of Netflix’s content like Stranger Things, Bird Box, and 3-time Academy Award winning film ROMA, all root from Sarandos’ work. Since Sarandos has been responsible for content operation, Netflix originals have received numerous awards around the world including 66 Primetime Emmy wins, 6 Oscars, and 5 BAFTA Film Awards, including Best Picture. He was named one of Time Magazine’s 100 Most Influential People of 2013. I think Sarandos is a crucial part for Netflix, and his role in Netflix is perfect for what he does. I also have never heard of a Chief Content Officer ever, so that definitely was interesting for me as well!
Reed Hastings has done a great job for Netflix, and says he makes less decisions which has led to his success. Netflix is a respectable company that appears in the news for only good, and Hastings has gone an entire quarter without making a decision before, according to INC.com. Hastings also was smart with that he brokered some sweetheart deals from content providers who were all too happy to monetize shows that they never imagined would see air time again.
Mission, Vision, and Values
- Innovation – Netflix has and will continue to bring incredible streaming and revolutions to the media streaming industry
- Creativity – Much of Netflix’s programming is original, and they have countless favorites that keep customers coming back
- Unpredictable – As much good there is with Netflix, they also deal with risks, like spending as much as $13 billion on content in 2018, according to Forbes
Netflix describes the employee culture as “unusual”. According to their website, they say they strive to hire the best like other great companies and value their integrity and excellence. What stands them apart though is how they “encourage independent decision-making by employees, share information openly, broadly, and deliberately; are extraordinarily candid with each other, keep only our highly effective people, and avoid rules.” They also have an emphasis on having “great people working together as a dream team.”
On Netflix’s website, they list 10 words that describe the company’s values:
1. Judgment
2. Communication
3. Curiosity
4. Courage
5. Passion
6. Selflessness
7. Innovation
8. Inclusion
9. Integrity
10. Impact
They strive for their employees to live these values and be role models for those around them
I definitely believe they live these values. The reviews I looked up about working at Netflix were definitely good and Netflix’s website does a great job illustrating those positive views from people. The content they have on their streaming services shows this as well, with lots of unity being shown in shows like The Defenders and Stranger Things.
Competitive Position/SWOT
The employees at Netflix make the company easy to lead and manage. The culture and values that Netflix presents itself allows for a workplace that is fun and innovative, like Google. It has such a large brand name that employees will only continue to get better, and the company will get better in the process.
The workplace could be difficult for the same reasons that make it easy. The freedom of employees could hurt others if communication is not key. Netflix is also known for being very good at spending their money how they want, and the cost will only continue to grow. They try to appeal to all customers with decisions on what rights to hold for specific content. For example, Netflix paid $100 million to Warner Media to pay for the rights of the sitcom Friends. Spending that type of money for one show shows how Netflix can get what it wants, but it comes with a price.
APPLE!!!, Hulu, Amazon, YouTube, HBO, Facebook
Netflix already has an iconic name in the market today. The price of their shares has increased by over 6000% since 2007! They have a very large customer base, serving 190 countries and over 100 million subscribers, and this allows Netflix to secure exclusive content with big studios. It creates great original content and continue to do so, which makes it a strong competitor against other streaming services like Hulu and Amazon.
The competition for Netflix only continues to increase with companies like Facebook and Apple launching their own original content. So many companies know that this is the future and continue to jump on the bandwagon of streaming media. These companies are always trying to find the latest “original content” so they can put their name on it and grab customers as a result from it.
Ethical Behavior
The reputation is intriguing, being that they try to appeal to more of younger audience while still holding such a dominant place in the stock market and financial world. The CEO Reed Hastings is a great guy who went from the DVD, to streaming, to more of a content company. The ability to adapt well for customers shows that they can do it for years to come.
Most scandals that associate with Netflix are usually not rooted from corporate, but rather scandals within their content. One recent scandal from Netflix for example was with Kevin Spacey’s sexual harassment charges that resulted in Spacey being removed from his show “House of Cards” and cancelling any future work with him. Although the scandal was not as a result of Netflix, their name was attached of course, and it ended up costing Netflix $39 million.
Personal Assessment
I would definitely love working for Netflix! Netflix has always been my #1 favorite streaming service above my Hulu and Amazon Prime accounts. Netflix costs $7.99 a month for all-you-can-watch streaming video, which is cheaper than a movie ticket. Netflix has the best delivery system out of any of the streaming services, and all of its original programming is the best out there.
As a company, Netflix has a great team-driven culture that I love. The idea of working in a collaborative environment with people who have just as much passion for streaming entertainment to people would be a dream. I’m an accounting major, so working for Netflix might be a stretch, but an interview or opportunity with Netflix, or even a media company like Netflix, would be incredible.
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