NetFlix company Essay Example | Topics and Well Written Essays - 500 words - 2

NetFlix company - Essay ExampleTo overlook this essential aspect would hunt down to misdirection in the companys plans for the future.This obvious neglect of the customers welfare in the mission statement might have been the key reason why in 2011 Netflix committed the mistake of increasing its subscription prices. Netflix had to pay greatly for the said oversight which resulted in a sharp decline in its subscriber base and its stock price. Due to Netflixs CEO Reed Hastings huge desire to slowly abandon its DVD operations, he dogged to separate the DVD business from the streaming business and to increase the price of their subscription plans (Sandoval , par 4). Clearly, there was a blunder on Hastings part to do such move. What led him to commit such a major slip-up? What can be said is that it all goes back to the mission statement. There is no concern for the market that they serve. Hastings main concern was to be aggressive and focus on streaming, before their competitors get a head of them. It is what is stated in their vision, to be the global leader in the entertainment diffusion service, no matter what their customers feel.Given this background, it is highly recommended that Netflix restate its mission statement to take into account the heap who have made them where they are today, their subscribers. It is suggested that Netflixs mission statement and vision for the future should be Netflix is dedicated to becoming the best global entertainment distribution service by entering into licensing agreements with television and movie producers and distributors around the ground by creating markets that are accessible to film makers and by assisting content creators around the world to find a global audience, but at all times, recognizing that our responsibility first and foremost is to offer stellar service to our subscribers, through quantity and flavour