Managing strategy Essay Example | Topics and Well Written Essays - 3250 words - 1

Managing strategy - Essay Example In this particular study different strategic frameworks shall be incorporated so as to analyze external environmental and internal conditions of Netflix. These tools will not only help to identify key resources and competencies but even facilitate determining critical success factors. In broader context these factors are highly responsible for acquiring sustainable competitive advantage. Michael Porter states that a strategy provides valuable and unique market position to a firm. A strategic fit needs to be achieved by a company in order to align business activities with overall business strategy. Business strategy can be defined as developing, finding and formulating a doctrine so as to ensure long-term success. Strategic thinking and strategic planning approaches are closely knitted with the framework of strategic management. Netflix is an organization founded in 1997 and providing Internet streaming media on demand to wide base of viewers. It has its viewers located across South a nd North America, and certain parts of Europe such as Norway, Netherlands, Denmark, France, Ireland, Sweden, United Kingdom, Finland, Belgium, Switzerland, Germany, Austria and Luxembourg. The company is even involved in sending DVD by mail at flat rate in various locations of United States. Netflix has implemented a subscription based model within its system. Members are able to choose from wide range of subscription plans encompassing option of unlimited streaming movies or media. This study shall not only highlight current strategies been followed by the firm but even would focus on available strategic options for future development. Netflix is a well-known organization operating in movie rental industry. The company is subjected to political, social, technological, economic, environmental and legal conditions. In legal and political context, the