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8 pages/β‰ˆ2200 words
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Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
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Topic:

Create an Innovation. Market Penetration by Netflix.

Essay Instructions:

Evaluate the internal processes or strategies within an organization in which you are involved, such as your workplace, school, church, or community group, in order to identify a problem that provides an opportunity for innovation. Then, determine an innovative solution for addressing that problem. Examples of potential solutions are entering a new market, implementing a new practice or process, or even changing management structures. The ultimate goal of your solution should be to increase the diffusion of innovation within the organization and contribute to a culture that appreciates innovation as a key to competitive advantage and organizational success.
You should research and select a model for evaluating both the feasibility of your idea and the implementation plan.
Describe the problem your innovation targets. What is the scope of the problem and which stakeholders, both within the organization and without, does it impact?
Describe your innovation and explain how it addresses the problem. How will it meet the needs of the organization and all stakeholders involved?
How does the innovation contribute to the organization’s competitive advantage?
Develop an implementation plan for effectively diffusing the innovation within the organization. Make sure the plan addresses potential resistance and obstacles, including people and processes.
Identify an appropriate method that could be used for measuring the impact of the innovation on the organization. Explain why you think this is a relevant measure.
Finally, assume your innovation is adopted by the organization. Make recommendations for additional improvements within in this organization (in processes, practices, structures, etc.) that could create and sustain momentum for innovation.
Include at least eight in-text citations from at least five secondary resources from your research.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
You are required to submit this assignment to LopesWrite. Only Word documents can be submitted to LopesWrite.

Essay Sample Content Preview:

MARKET PENETRATION BY NETFLIX
Name
Instructor
Course
Date
Market Penetration by Netflix
Organizational strategies are the driving tools for the success of the company. Netflix Inc has emerged as a king in the entertainment industry in the US over the last seven years. The top management has good developed management strategies that have been implemented to enable the organization to achieve its goals and expectations. Strategies such a diversification in the entertainment industry have also enabled it to generate revenue from various entities. Despite the company laying down the essential internal strategies for better performance, it has not yet stepped into the elite league. Market expansion is an area that still demands a lot of innovation in the ready market of entertainment. Netflix is ranked the top in the US as a media service provider while less popular at the global show. Therefore, this discussion focuses on market penetration by Netflix as an opportunity that requires a lot of innovation to expand more in the business.
Hastings and Randolph had a vision of video streaming long ago in the 90s, and hasting predicted that later in the days, the internet would be twice faster than it was, and its cost will be half the price they spend (Rataul, Tisch & Zámborský, 2018). This made him have a vision that instead of selling DVDs, the video will be easily accessible by streaming. This idea was taken by blockbuster, which started to stream video under the brand name blockbuster.com. This made it yield a lot of revenues in which they shared with Netflix 49%, which was about $50 million value at that time. During this time, Netflix was not ready to join steaming services as it had only 350,000 subscribers, and it was incurring losses during this period (Oliveira & Ribeiro, 2019). Netflix continued without a partner until in 2002 when it signed a deal with IPO, which enabled it to distribute over one billion DVDs, which helped accumulate enough revenues that enabled it to launch streaming services in 2007. During this time, it had created a good background since it had around 7000 DVDs in its catalog, which enabled it to stream over 1000 movies and television programs (Oliveira & Ribeiro, 2019). Even though Netflix was making great progress, it has some challenges such as long-term airing contracts signed between content creators and broadcasters, which tied it up to have limited space to air more shows. This challenge made Sarandos have a strategy to have television licensing that will enable it to strike deals with content creators to enable Netflix air content directly to its customers. Netflix struck deals with the big four broadcasters in the US that started giving content to Netflix. Using this strategy, Netflix increased its service delivery, which saw it have more than a hundred episodes for delivery. Product strategy was a major plan that took Netflix to another level in the entertainment industry. It was able to air high-quality and interesting films of that time that popularized its brand name through broadcast deals (Rataul, Tisch & Zámborský, 2018). For example, in 2010, it was availed breaking bad and mad man episodes that had won the attention of movie lovers...
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