Contemporary Business Issues in Business Management (Netflix)

This report discusses contemporary business issues faced by Netflix in business management, including artificial intelligence, millennial driven change, internet security, fast innovation, and technology. The report analyzes the impacts of millennial driven change and technology on Netflix's productivity and efficiency.

Contemporary issues in
business management

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Background of company.............................................................................................................3
Business issues identified (Fi29-Sep-2021 02:46: PMve)..........................................................3
Analysis of the issue (Two)........................................................................................................5
Impacts........................................................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8

Introduction
Business management is a term which is used to regulate organising, planning and
analysing of business activities throughout the operational working of the corporate firm. Better
operational working can be ensured through use of business management techniques as, mangers
of the corporate are able to create clear visions and steps to attain pre-decided goals and
objectives of the business enterprises. In the presented report operational working at Netflix is
being taken into consideration. The respective company is an American company which is also
regarded as one of the most trending companies in streaming media at digital platforms. The
provided report document will brief about contemporary business issues faced during the course
of operational business and will critically evaluate analysis and related impacts from those issues
(Baschiera and Re, 2018).
Main Body
Background of company
Netflix being a U.S. based company was founded in 1997 by Reed Hastings and Marc
Randolph. The respective brand is highly in trend since its incorporation and ensure effective use
of business resources under the guidance of Reed Hastings as the current CEO of the company.
Since the year 1999 respective company began its online subscription service through the
internet. Categories like Movie, Television and Web-site were being made available to
individuals who were ready to pay a subscription amount for 1 month, 3 months and 12 months
respectively. The background of Netflix included being extremely successful company in terms
of adapting through changing needs of valuable customers over time. During initial times the
respective company offered their best human resources at work also by ensuring effective use of
resources all aimed at gaining customer loyalty. The company provided Blockbuster rental
Movie which appeared to the most cheaper way for desired viewers of the content and thus
gained effective customer loyalty through the chosen approach (Daidj and Egert, 2018).
Business issues identified (Fi29-Sep-2021 02:46: PMve)
Although never decreasing profits and staying in-trend for a long time until now, Netflix
have taken an important place in current business market and gained high customer loyalty
through their dedicated and focused operations. Due to regular changes observed in business
market it became hard to handle such changes contrasting to aspects of competition and

consumer behaviours in the respective operational marketplace. Altogether, following are the
five contemporary issues that are being identified for further discussion; Artificial intelligence: Artificial intelligence refers to intelligence which is demonstrated
through machines and are regarded as opposed to natural intelligence being displayed by
humans or animals. In the given context, managers at Netflix was recorded this is as the
foremost contemporary issues which is faced during the core operational work at the
respective firm. Invention or innovation is very common scope under AI, however this
could lead to high investment of resources and changing operational policies. Moreover,
this could also create wide competitive gap and an individual or a group by tapping these
resources at the right time can gain unfair competitive advantage being operating in a
suitable business market. Netflix's recommendation system works on algorithm-based,
however such techniques in given company are boosted through technique of machine
learning. Millennial driven change: Under this category millennial generation tends to shake the
workplace wit regulation of different priorities and expectations. Such changes might
result in failure of business strategies being build over a period of time. For the reason
being due to such changes in regards with technologies or any other related aspect that
changes in the behaviour of individuals in a given marketplace operational working at a
given business firm can be impacted (Fireman, 2018). Internet security: Internet security or cyber security is becoming increasingly important
issues which is being identified by business managers in the current times. With the fact
that technology is helping business to optimise its performance and thus gain a better
competitive advantage while regulating business operations in a said marketplace. In
context of the chosen firm such issues are highly alerted and focused as worse effect from
such issues might put down the wealth of company and may also have significant impact
on goodwill of the corporate. Some of the security issues can be Ransomware attacks, loT
attacks, Cloud attacks etc. In contrast to Netflix there were several internet security issues
reported that included; Insecure SSL, HttpOnly cookies not used, Server information
header exposed, Secure cookies not used, domain was not found on the HSTS preload
list.

 Fast innovation: With the fast paced business world it have created a drastic changes in
the way and observation of market consumers and also have changed the manner in
which business response to demand of consumer being raised in a given marketplace.
With respect to Netflix, managers of the corporate have identified fact innovation as one
of the contemporary issue at respective firm. For the evaluation, it is being said that, it
becomes hard for managers of the track such changes and thus could also result in high
investment of resources sometimes wastages of resources. Any competitor of the
company can use such innovative technique and change the behaviour of consumer in the
given marketplace. Therefore, a close look on such innovations are being kept by
corporate firm which lead to high cost of production for the desired services of the
company.
 Technology: Issues such as of technology relates to improper delivering of company's
quality of services to their valuable customers. In context to Netflix, these issues could be
related to facing difficulties in streaming videos on the provided application. The
respective company uses technology including Java, Gluster, MySQL, Chukwa etc. This
could be result of high focus being made by creating more marketing investment to
promote company working and gaining subscribers. Thus, due to less budgetary
investment dedicated in furnishing operational working through technologies
(Jegnaradze, 2021).
Analysis of the issue (Two)
From the above identification of contemporary business issues in context to Netflix two
issues including Millennial driven changes and technology are analysed for their better working.
Netflix being a streaming online media platform shows the perfect example of adopting through
a customer centric approach in its business operations. The said company reposes to trending
videos including web series, movies and on high customer demand makes it available on their
paid application.
One of the most critical issues being identified include Millennial driven changes. It is
being said that individuals who are born between 1981 and 1996 are referred to as millennial and
from 1997 onwards individual taking birth are considered to be new generation. Millennial
driven changes refers to changes which were brought up due to rapid changes being observed
when engaging operations of a business firm in internal and external environment. Further, such

changes were also being explored to engaging business operations with variety of stakeholders of
the corporate firm. Such changes are being explored to make drastic impact and influence over
demand of respective individuals in a given marketplace. Throughout the approach dedications
or focus are being made for bringing in changes regarding old techniques being taken into
consideration for operating through a desired goals and objectives of a group or an individual. In
the process being initiatives are being taken which could further be related to process of
innovation and creating best possible output of good or service through optimal use of business
resources (Sanson and Steirer, 2019).
Another factor that acts as a critical business issue relates to use of technologies for
performing respective business operations. In recent times technology played a vital role in
shaping business performance or productivity at the best standards and also created true value of
success in regards with desired goals and objectives of the organisational firm. In addition to
this, factors of technology also have created impact on evaluating competitive business
environment for a said workforce. Through using such technologies a given firm can develop
better standards of working and can also influence over demands of customers through ensuring
effective customer relations (Jenner, 2018).
The above two contemporary issues faced in a business enterprise can be encountered by
managers of the corporate firm during regulation of daily operational activities at the respective
firm. Such issues in its worst can effect the productivity or efficiency of the business firm in long
run and can also influence over brand image of products or services being sold by company in
given market. The given issues are being treated as the most important consideration which is to
be focused while regulating respective operational activities. These issues are considered under
contemporary issues faced at the corporate firm as this might result in downfall of business
productivity which might have severe impact over productivity of the organisational firm.
Impacts
The identified issues possess potential of being critical impact over degrading the
productivity of the chosen company i.e. Netflix. Millennial are observed to be grown in the time
of advancing technologies and other related changes driven factors. The role of Netflix fixes
perfectly to the nature of millennial as the said company showed true value of success in terms of
using innovative technologies and changed the prospective of working in a business market just
acting like an agent. The concept of streaming for Netflix sounded often innovative to young

individuals that they can stream their liked content video whenever they want. However,
reflecting to nature of millennial in terms of interest towards ever changing technologies or
changes friendly. It soon became a headache for managers of the company, as in the process lots
of resources are to be invested and still didn't contributed to long term asset development or
related theories (Paul, 2021).
For the best possible solution of the issue managers at Netflix speculated about
technology as a factor that will be helpful for deriving the most productivity in terms of
millennial driven changes. Some of the pros of the technique were followed with success in
organisational planning and proceeded with effective decision-making process through
regulation of less complex operational environment with use of various technologies. On the
other hand, the project undertaken was constitute of high investment of resources and sometimes
due to new or innovative technology it adds up to the complexities at the working environment
of the corporate firm, therefore contributed to cons of the given technique (McElroy and Noonan,
2019).
Managers at Netflix were able to somehow manipulate the demand of consumers in its
operational market through use of technologies. Such techniques adopted by managers of the
business firm helped them enhancing productivity of firm through reacting effectively through
ever changing demands and behaviours of customers in a given marketplace. Moreover, this
could have its impact over their abilities to operate in future markets as the technique of using
technologies are considered to be cost effective and also could be used in context to capturing
demands of wide market areas.
Conclusion
From the analysis of above report document it can be concluded that, a business firm
have to operate in presence of several contemporary issues. Various techniques and strategies are
adopted by managers of the corporate firm to derive maximum advantages of resources which
are being invested in the process of increasing productivity of the firm throughout the process.
Furthermore, it can be said that, various techniques are available through which evaluating on
pros and cons a business manager can develop better standards of working and contribute
towards definite growth of the business firm.

References
Books and Journals
Baschiera, S. and Re, V., 2018. National Screen Productions and Global SVOD Services: the
Case of Netflix in the UK and Italy. National Screen Productions and Global SVOD
Services: the Case of Netflix in the UK and Italy, pp.395-407.
Daidj, N. and Egert, C., 2018. Towards new coopetition-based business models? The case of
Netflix on the French market. Journal of Research in Marketing and Entrepreneurship.
Fireman, K., 2018. AI's lack of transparency triggers a debate over ethics. LSE Business Review.
Jegnaradze, Z., 2021. Modern challenges of business entities finances. Proceedings of the
Financial mechanisms of sustainable development of Ukraine in the conditions of
modern challenges.
Jenner, M., 2018. Netflix and the Re-invention of Television. Springer.
McElroy, R. and Noonan, C., 2019. Producing British television drama: Local production in a
global era. Springer.
Paul, A., 2021. Book Review: Netflix Nostalgia: Streaming the Past on Demand, by Kathryn
Pallister (Ed.).
Sanson, K. and Steirer, G., 2019. Hulu, streaming, and the contemporary television
ecosystem. Media, Culture & Society, 41(8), pp.1210-1227.