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Netflix, Inc. is an American company that provides internet-streaming media enabling its subscribers to stream movies and TV shows directly on their computers, mobile devices, and TVs in the United States and other countries. Subscribers in the United States can get standard definition DVDs and have Blu-ray discs quickly delivered to their homes. The company operates in three distinct segments. The first segment is domestic streaming, which gives access to the content delivered through the internet to connected devices including Macs, PCs, smart TVs, game consoles, home theater systems, Blu-ray players, mobile devices, digital video recorders, and internet video players. The second segment is known as the international streaming segment. It mainly provides streaming services in the United Kingdom, Canada, Ireland, Latin America, Finland, Sweden, Denmark, and Norway. Finally, the third segment, the domestic DVD, offers the subscribers DVDs-by-mail subscription services. Netflix company was established in 1997 and has its headquarters in Los Gatos, California.
Brief Overview of the Company and Its History
Netflix was founded by Reed Hastings and Marc Randolf in Scotts Valley. Both Hastings and Randolf had earlier worked together for Pure Software. They had been reputed with inventions, and the spirit of teamwork compelled them to start a joint project with little knowledge that the company would thrive to its present level. The idea of establishing Netflix was conceived by Hastings after he was forced to pay a fine of 40 dollars when he returned Apollo 13 after deadlin. After its establishment, the Netflix website was launched on August 29, 1997 having barely 30 workers and 925 works on hand for rent, as well as a more usual online pay model. The monthly subscription model was introduced later in September 1999, dropping the single-rental concept in early 2000. Since then, the company has been constantly building its reputation due to its ability to provide unlimited rentals with no due dates, shipping and handling fees, late fees, and per title rental fees.
Netflix’s ability to tap technologies from various eras has enabled it to push couch potatoes off the video stores to the internet or mailbox. More than 33 million Netflix’s subscribers in over forty countries can rent DVDs or download movies for a fee charged monthly through the company’s website. Delivery of movies is done through the US postal service after being released from the distribution centers in the major US cities or directly streamed to the devices such as TVs and PCs. The company’s repute is emphasized by the fact that it ships approximately two million discs into the US daily. Currently, Netflix is shifting its focus from DVD rental to the improved streaming service, especially overseas (Hoover's Inc., 2014).
Netflix is among the best performing companies in the United States. According to a report released on April 22, 2014, the company had exceeded its own expectations. The number of its subscribers had tremendously increased with four million members globally. Its net profit had increased to $53 million exceeding the company’s estimate of $48 million. By the end off 2013, the company had a net income of US$112 million (USA Today, 2014).
Values Provided by the Company
Netflix has developed a culture that aims at reaching excellence in all its endeavors. It achieves this goal by placing some values that guide it to offer better services and meet its customers’ expectations. Netflix considers the following nine values paramount. Judgment ensures that wise decisions are made without ambiguity identifying problems and handling them appropriately, thinking strategically as well as being willing to improve personal performance. Communication equips workers with excellent communication skills, respect, and a calm poise during stressful conditions. Impact helps in accomplishing remarkable amounts of work and focusing on better results.
Curiosity heightens the recruits’ eagerness to learn and be integrated into the company’s culture. Innovation helps to re-conceptualize ideas in order to provide practical solutions to challenging problems. Courage enables one to say fearlessly what he or she thinks is right irrespective of whether it appears controversial or not. Passion inspires colleagues and consequently contributes to the company’s success. Honesty helps in maintaining directness and candor among employees. Finally, being selfless ensures that the entire staff is interested in the company’s development rather than personal interests. All these values are provided through hiring and promotion of individuals who demonstrate them. Those hired with these values but being weak are helped to improve on them through the integration process (The Slate Group, 2011).