Information and Globalization Research of Netflix

This assignment is intended to give you an opportunity to strengthen your skills in gathering and analyzing business-related information. It provides a deeper understanding of how companies can look at globalization as part of their strategic and operational plans. The assignment has two parts: one focused on information research and analysis, and the other is on applied analytics.

Resources:

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Microsoft® Excel®
“How Netflix Expanded to 190 Countries in 7 Years” from Harvard Business Review
Call Center Waiting Time

If the “Call Center Waiting Time” link does not work, please try the following attachment

Part 1: Globalization and Information Research

Context: Companies that perform well in their country of origin usually consider expanding operations in new international markets. Deciding where, how, and when to expand is not an easy task, though.

Many issues need to be considered before crafting an expansion strategy and investing significant resources to this end, including:

the level of demand to be expected for the company’s products/services
presence of local competitors
the regulatory, economic, demographic, and political environments

Carefully researching and analyzing these and other factors can help mitigate the inherent risk associated with an overseas expansion strategy, thus increasing the likelihood of success.

As a data analyst in your company’s business development department, you’ve been tasked with the responsibility of recommending countries for international expansion. You’ll write a report to the company’s executive team with your research, analysis, and recommendations.

Instructions:

Part-1: Write a 525-word summary, In a Word document, covering the following items:

According to the article listed above, what were the most important strategic moves that propelled Netflix’s successful international expansion?

The article mentions investments in big data and analytics as one of the elements accompanying the second phase of overseas expansion. Why was this investment important? What type of information did Netflix derive from the data collected?
According to the article, what is exponential globalization?
Not all international expansion strategies are a resounding success, however. Research an article or video that discusses an instance in which an American company’s expansion efforts in another country failed. According to the article/video you selected, what were the main reasons for this failure? Do you agree with this assessment?
Explain some of the reasons why certain companies’ expansion plans have failed in the past.

Part 2: Hypothesis testing

Context: Your organization is evaluating the quality of its call center operations. One of the most important metrics in a call center is Time in Queue (TiQ), which is the time a customer has to wait before he/she is serviced by a Customer Service Representative (CSR). If a customer has to wait for too long, he/she is more likely to get discouraged and hang up. Furthermore, customers who have to wait too long in the queue typically report a negative overall experience with the call. You’ve conducted an exhaustive literature review and found that the average TiQ in your industry is 2.5 minutes (150 seconds).

Another important metric is Service Time (ST), also known as Handle Time, which is the time a CSR spends servicing the customer. CSR’s with more experience and deeper knowledge tend to resolve customer calls faster. Companies can improve average ST by providing more training to their CSR’s or even by channeling calls according to the area of expertise. Last month your company had an average ST of approximately 3.5 minutes (210 seconds). In an effort to improve this metric, the company has implemented a new protocol that channels call to CSR’s based on their area of expertise. The new protocol (PE) is being tested side-by-side with the traditional (PT) protocol.

Instructions-Steps:

Access the Call Center Waiting Time file. Each row in the database corresponds to a different call. In a Word document, a 175-word summary of your conclusions along with the 5-step test of hypothesis and your conclusion. You must not submit the Excel document; part-1 and part-2 should be a single Word document.

The column variables for waiting time are as follows:

ProtocolType: indicates protocol type, either PT or PE
QueueTime: Time in Queue, in seconds
ServiceTime: Service Time, in seconds

Perform a test of hypothesis to determine whether the average TiQ is lower than the industry standard of 2.5 minutes (150 seconds). Use a significance level of α=0.05. Evaluate if the company should allocate more resources to improve its average TiQ. Perform a 5-step test of hypothesis to determine whether the average ST with service protocol PE is lower than with the PT protocol. Use a significance level of α=0.05. Write your conclusion. (Hint: this should be a test of means for 2 independent groups.) Please follow the further detailed guidance so that you can earn 100% points on this assignment.

 

Sample Answer

 

Information and Globalization Research of Netflix

Part I

The following were Netflix’s most crucial strategic decisions that drove its successful foreign expansion: Focusing on local material. Netflix made a point of having a collection of local content that would appeal to viewers in each new country it entered. Creating a local presence: Netflix made sure to open a local office in each new nation it entered and produce localized content. They were able to develop connections with local partners and have a deeper understanding of the market as a result. Working with regional partners: To ease the move into each new nation, Netflix engaged with regional businesses. Netflix made significant marketing investments when it entered each new nation (Minzheong, 2020). By doing this they were able to increase brand recognition and create a clientele in each new market. Being patient: Netflix was patient in its expansion efforts, adopting a slow and steady strategy that allowed it to learn from each new market it entered and steer clear of costly errors. Netflix entered 190 countries in just seven years by concentrating on local content, establishing a local presence, collaborating with local partners, investing in marketing, and exercising patience.

According to the publication, Netflix invested in big data and analytics to better understand its global clientele. Netflix was able to better cater its content offerings to the needs of its global audience by gathering and analyzing data on customer viewing patterns. As a result, they could expand their customer base and keep finding success in new markets. Companies must thoroughly investigate and examine the factors mentioned above to make wise decisions about global expansion. Netflix’s success story is a perfect example of how a firm may leverage globalization to its advantage (Petit-Thorne, 2022). Netflix quickly built a presence in 190 countries and increased its user base by meticulously planning its expansion strategy and investing in big data and analytics. There are many things to consider when growing overseas, businesses that try to research new markets can improve their chances of success.

The exponential growth of a company’s operations into new foreign markets is known as exponential globalization. Technology advancements can help businesses grow by making it simpler for them to reach new markets and clients. Technology advancements helped Netflix to quickly access new markets and customers, enabling its rapid expansion (Hidayati, 2022). It is vital to remember that while exponential globalization can be a terrific method for businesses to thrive, it can also be perilous. To reduce the inherent risk of entering new markets, careful preparation and research are important.

The main causes of failure, according to the article “5 Times American Brands Tried but Failed to Go Global”: Lack of knowledge of the regional market: A thorough awareness of the local environment is crucial for success in a new market. Understanding local consumers’ needs and desires fall under this category. Lack of local partnerships: To successfully navigate the area and develop a firm, it is essential to forge strong bonds with local partners. Over-reliance on the domestic market: Businesses that grow abroad frequently make the error of putting too much of their focus on the domestic market. When businesses try to enter markets that are significantly unlike their own, this might cause issues. Lack of willingness to adapt: It is critical to be open to changing your ways to succeed in a new market. Lack of persistence: Many businesses overlook that developing a successful company in a new industry requires time. Failure can frequently result from entering a new market too quickly without first taking the time to understand it. I concur with this conclusion. I believe that a lack of local alliances, a lack of awareness of the local market, and a lack of adaptation are the primary causes of failure.

The historical failure of some organizations’ expansion strategies can be attributed to various factors. Lack of local relationships, excessive reliance on the domestic market, a lack of adaptation, and a lack of patience are a few of the most frequent causes. Companies that do not take the time to comprehend the local market’s needs and build solid bonds with regional partners frequently fail in their efforts to expand. A company’s ability to compete is frequently hampered when it enters a new market without being prepared to adapt to the local culture and norms. Finally, many businesses overlook that developing a successful company in a new market takes time. Entering a new market hastily and without a solid plan can frequently result in disaster.

Part II

The following are the findings of the hypothesis test: 0.0254 P-value. The null hypothesis may be rejected because the average TiQ is less than the industry average of 2.5 minutes, and the p-value is less than 0.05, which allows us to draw this conclusion. Yes, the business needs to invest more in raising the average TiQ. The hypothesis test findings show that the average TiQ is less than the industry average, which suggests that customers are waiting for service for too long. Customers may become dissatisfied and possibly hang up as a result of this. The company must make investments to raise its average TiQ. The second hypothesis test’s findings are as follows: P equals 0.0221. We may rule out the null hypothesis because the p-value is less than 0.05 and conclude that the average ST with service protocol PE is lower than with PT protocol. In conclusion, the new protocol accomplished its goals. According to the hypothesis test results, service protocol PE has an average ST lower than the PT protocol. As a result, the new protocol is more effective in terms of Service Time and accomplishes what it was designed to do.

 

References

Hidayati, N. (2022, February). Human Resources Management Review on Netflix. In International Conference on Economics, Management and Accounting (ICEMAC 2021) (pp. 391-397). Atlantis Press.

Minzheong, S. (2020). A Case Study on Partnership Types between Network Operators & Netflix: Based on Corporate Investment Model. International Journal of Internet, Broadcasting and Communication, 12(1), 14-26.

Petit-Thorne, A. (2022). Too: The Strategic Use of a Fictional# MeToo Story in Netflix’s. In The Forgotten Victims of Sexual Violence in Film, Television and New Media (pp. 63-78). Palgrave Macmillan, Cham.

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