Ashford University Netflix Company Planning Process for Innovation Essay

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Erncre1000EE

Business Finance

Description

For this assignment, write a three to four-page paper that addresses the following points:

  • Evaluation of the Firm - McGrath’s and MacMillion’s Twelve Factors of Evaluating Firm
    • Evaluate your organization, being sure to address six of the twelve McGrath’s and MacMillion’s Twelve Factors:
      • Demand for the Product
      • Factors that could speed adoption
      • Factors that could block success of an Innovation
      • Likelihood of Strong Competitive Response
      • Likelihood that the Potential Competitive Advantage is Sustainable
      • Ability to Create Standards
      • Cost Factors in Commercialization
      • Resources Available for Commercialization
      • Level of novelty of the innovation
      • Cost considerations in development
      • Other opportunities that could be leveraged
      • Potential area where damage might occur

Remember, in addition to technical factors, other factors that could block success of an innovation include legal, ethical, security, diversity, and social responsibility issues of the organization.

  • Apply the McFarlan & McKenney Strategic Grid Planning Process
    • The McFarlan & McKenney Strategic Grid Planning Process analyzes the organization’s readiness to implement innovation strategy. McFarlan and McKenney, in 1983, devised a very useful grid for assessing a company’s strategic use of IT (Carboy, 2007).
    • The grid has four quadrants built around two straight forward questions:
      • How important does management feel the current IT systems are to the company?
      • How important does the company think future developments in IT will be required to sustain and enhance its way of doing business (Carboy, 2007)?

***************see Attached file for Quadrants*******************

Definitions of each quadrant are:

  • Quadrant 1 - Support: Low Current: Low Future Impact. IT has little relevance and simply supports existing processes.
  • Quadrant 2 - Turnaround: Low Current: High Future Impact. IT will feature more on the business agenda in the future. The company believes that IT will have a major impact on their business model in the future and IT is in a turnaround role i.e. IT will be a key feature of future strategic planning.
  • Quadrant 3 - Factory: High Current: Low Future Impact. IT is important in terms of day-to-day operations but it is not felt that there are any major IT developments on the horizon that will fundamentally alter the nature of the business. Here, the key issue is the maintenance of existing systems (Factory Role).
  • Quadrant 4 - Strategic: High Current: High Future Impact. In this quadrant, IT plays a crucial role both in terms of its current role and in terms of how future IT developments are viewed as impacting on the organization. IT is mission critical.

Use your chosen organization for this exercise. Based on your research of the organization’s use of technology and moving forward technology plans, identify which quadrant most appropriately applies to your organization’s readiness to implement innovation strategy (Carboy, 2007).

  • Identify the McFarlan & McKenney Strategic Grid quadrant that applies best to your organization: Low Current: Low, Future Impact; Low Current: High Future Impact; High Current: Low Future Impact; and High Current: High Future Impact.
  • Gen-ED > Provide supporting research to justify your analysis conclusion.
  • Identify 3 examples of your organization’s innovation directions to substantiate your points.

The Planning Process for Innovation assignment

  • Must be four double-spaced pages in length (not including title and references pages) and formatted according to APA style
  • Must include a separate title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must use at least three scholarly sources in addition to the course text.
  • Must document all sources in APA style as outlined in the Ashford Writing Center.
  • Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.

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Strategic importance of current information systems Low High High Turnaround Strategic Strategic importance of planned information systems Support Factory Low Source Image: https://techcommunity.softwareag.com/techniques-blog/-/blogs/410027
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Explanation & Answer

Attached.

Netflix: Planning Process for Innovation – Outline
I. Introduction
II. The McGrath’s and MacMillion’s Factors
A. Factors That Could Speed Adoption
B. Factors that could Block Success of an Innovation
C. Likelihood of Strong Competitive Response
D. The likelihood that the Potential Competitive Advantage is Sustainable
E. Cost Considerations in Development
F. Other Opportunities That Could Be Leveraged
III. The Global Legal Framework
IV. The Mcfarlan and Mckenney Strategic Grid Planning Process
V. Innovative Actions to Counter Competition


Running head: NETFLIX: PLANNING PROCESS FOR INNOVATION

Netflix: Planning Process for Innovation
Name
Institution

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NETFLIX: PLANNING PROCESS FOR INNOVATION

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Netflix: Planning Process for Innovation
As the world’s largest movie streaming service provider, Netflix has approximately seven
million subscribers in the United States and currently targeting more than ninety million
worldwide. The website interface is effective, coupled with user-friendly customer service. The
new developments in fast internet services worldwide enable Netflix to target the provision of
excellent quality movie streaming services to its subscribers. The main objective of the online
video download strategy is to reach a diverse movie and TV series market simultaneously
(Jenkins, Ford & Green, 2013). Given the varying taste and preferences for movie lovers, the
firm is targeting specific genres for specific people. Subscribers, as such, will only be exposed to
the packages they prefer.
The McGrath’s and MacMillion’s Factors
Factors That Could Speed Adoption
Technology is currently one of the primary influencers in the processes for finding
solutions to the competitive problems and concerns. The adoption of such technology, especially
in the entertainment industry, has some significant drivers. First, many countries globally have
access to the Internet, which significantly influences the innovation process from Netflix.
Secondly, the mobile and non-portable...


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