Are you interested in discovering the secret behind the success of Netflix?
This leading entertainment company has transformed itself from a simple mail-order video company to a major streaming service. The name Netflix is known all around the world and is closely connected with entertainment.
Netflix is instantly recognizable for its bright and bold red capital N logo set on a black background. The company also boasts clearly defined mission and vision statements as well as company values and strong company culture.
So, let’s make a detailed Netflix mission and vision statement analysis to find out more about their success…
Contents
The Company History
Founded by Reed Hastings and Marc Randolph in 1997, Netflix started life as a mail-order DVD rental and sales company. Netflix was the world’s first online DVD-rental store and started with just 925 available titles and thirty employees.
Over the years, the company has undergone a number of renovations to keep up with changing entertainment needs. One innovation was the announcement of the coveted Netflix Prize in 2006. This granted the first developer to create a special video-recommendation algorithm with a prize of $1,000,000.
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The start of streaming…
Netflix launched a streaming video service in 2007 that allowed customers to watch videos on-demand via the internet. In 2013, the company started commissioning a wide range of original content. This helped Netflix gain millions of new customers around the world.
In 2001 Netflix had less than 500,000 subscribers, which had risen to more than 203.66 million by 2021. People in more than 190 countries enjoy the original movies, documentaries, and series that the streaming service provides. Although Netflix has several rivals these days, it remains the fastest-growing streaming service in the world.
Know what your viewers want…
The company’s remarkable growth over the years can be credited to the range of original content it offers. Netflix has always had its finger on the pulse of what entertainment lovers want. The company has been willing to take risks, which has allowed it to become a leader in the entertainment industry.
Netflix Mission Statement
Netflix boasts a clear and formal mission statement that reveals the company’s commitment to its customers. ‘We promise our customers stellar service, our suppliers a valuable partner, our investors the prospects of sustained profitable growth, and our employees the allure of huge impact.’
This reflects the first-rate video entertainment services that the company is famous for. The mission statement is composed of three key elements that can be explored in more detail.
Improving lives
In addition to entertaining people, Netflix is committed to having a positive impact on societies. The company has launched and supported a large number of social enhancement programs over the years. This includes the company’s sustainable business model, which has been adopted by numerous organizations around the world.
Exceeding expectations
This element is essential for any company that wants to be successful and continue to thrive. Over the years, Netflix has launched a wide range of innovative new services. This has helped the company to maintain an edge over the competition while maintaining the highest standards.
Delivering excitement and entertainment
Over time, Netflix has been quick to recognize the shift away from linear television to online viewing. This has allowed the company to offer and create contemporary entertainment that meets new needs. The company creates original content that has proven to be very popular with entertainment lovers of all ages.
Netflix Vision Statement
The company’s vision statement is much simpler and more concise than its mission statement. It is ‘becoming the best global entertainment distribution service.’ This clearly shows what the company stands for and what it aims to achieve. There are two main elements in the vision statement that can be explored in more detail.
Becoming the best
Any company that wants to remain successful needs to be committed to quality and innovation. This has helped Netflix to remain relevant and gain a major share of the industry revenue. The company is committed to utilizing the latest user-friendly features and technology to help it stay on top.
Global presence
The Netflix logo is instantly recognizable to people all over the world. The company offers special features to people in different countries to provide a more personalized service. This includes videos available in different languages and special local content featuring national performers and directors.
The Core Values
Netflix features a set of nine core values that employees are expected to understand and embrace. These core values guide and influence every aspect of the work that is done at the company. The values help customers to gain an understanding of what the company stands for and how it operates.
Judgment
Over the years, Netflix has used sound judgments to predict the trends in the entertainment industry. This has helped the company to remain ahead of the curve and offer innovative services. From creating the first DVD-rent-by-mail business to a streaming platform, Netflix is not afraid to move with the times.
Communication
The company puts a lot of value on clear and accurate information. Netflix customers all over the world can interact with the company in their native language. No matter which language they are communicating in, the Netflix message and content remains unchanged.
Inquisitiveness
This core value drives the company to take chances that help the company to grow and thrive. The company encourages employees to step outside of their comfort zones and make bold decisions. This has helped Netflix to become successful in a range of different areas.
Boldness
The company prides itself on making difficult decisions when necessary and trying new things. All employees are expected to embrace this boldness and are rewarded for their achievements. This simple yet powerful value has helped the company to thrive and make a lasting impact.
Enthusiasm
The company actively seeks employees who are passionate about working for Netflix. Employees are expected to approach their work with excitement rather than simply going through the motions. This helps to create a dynamic working environment where employees work at the optimum level.
Humbleness
For many large companies, a major part of their revenue comes from advertising. Netflix boasts a streaming platform that would allow them to make billions of dollars in advertising. However, the company’s commitment to an ad-free service has helped them to secure customer loyalty.
Creativity
The company is dedicated to developing new ideas and creating a fresh approach to old concepts. Customers can depend on receiving the exciting content in the most easily accessible way. This commitment to creativity helps the company to remain relevant and win new customers every day.
Impact
The company never shies away from creating controversial content that addresses the most powerful topics. Netflix’s original documentaries have helped to shed light on important issues in society. This creates an easily accessible platform for discussion that inspires social change.
Inclusive
The company employs people from all cultures and backgrounds. The company is committed to encouraging cooperation and collaboration. The sharing of information and opinions has helped the company’s content to appeal to people from all walks of life.
Netflix Culture
Over the years, Netflix has developed a strong company culture that is created around a simple philosophy. The slogan ‘people over process’ forms the core of the company culture.
This unique culture is centered on five key elements.
People Empowerment
Netflix actively encourages employees to make independent decisions and shape their careers. This can be seen through the special training programs that the company runs. Instead of yearly reviews, employees are constantly evaluated and encouraged to strive to do their best.
Transparency
Acting with honesty and integrity is an important part of the company culture. Employees are encouraged to provide feedback to their managers and coworkers. The company takes this feedback seriously and works hard to quickly address any issues that arise.
Friendship
Employees are encouraged to work well together and form friendships. This helps to make sure that the working environment is fun and friendly. Employees look forward to going to work and meeting their coworkers.
Hire the Best
Netflix is devoted to hiring the most talented people in their fields. This helps to drive the success of the company and make it competitive. The company offers special bonuses and other incentives to ensure talented employees feel appreciated and remain loyal.
Avoid Rules
Netflix believes in a dynamic approach to business that is based on fun and passion. This helps to make the working environment inspiring and dynamic. The unique company culture attracts creative employees who have innovative ideas.
Additional Company Visions and Cultures
Our website boasts numerous in-depth articles covering the matters such as my Google Mission and Vision Statement Analysis, my Lululemon Mission and Vision Statement Analysis, or how about my Macys Mission and Vision Statement Analysis, my Adidas Mission and Vision Statement Analysis, and finally, my Amazon Mission and Vision Statement Analysis for 2023.
Next, you might want to check out my Netflix Application to get you started, as well as my Who Owns Netflix to prepare for your interview! Or perhaps my Best Remote Jobs That Pay Well and my Companies That Hire For Remote Marketing Jobs can point you in the right direction.
Lastly, are our great finds online about Netflix, so take a look at the That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea, and of course, the No Rules Rules: Netflix and the Culture of Reinvention, along with the Summary & Analysis of No Rules Rules: NETFLIX and the Culture of Reinvention available to choose from today.
Final Thoughts
Netflix’s mission statement makes it clear that the company puts a high-quality and reliable service above all else.
This has helped the company to grow significantly, especially as it launches new services. Netflix customers can be sure that they will receive a first-rate service at all times. The company’s vision statement reveals the commitment to constantly becoming bigger and better. This can be seen in the new products and services that the company regularly releases.
The commitment to excellence is also reflected in the company culture and core values.
Good luck, and enjoy working at Netflix!