In this era of innovation, where the internet penetrates every region of the world and where technology is thriving in constant change, being able to innovate and stay at the forefront of the growing trends is a great challenge that businesses need to face.
Netflix, a company launched in 1997 that started as a mail-order version of Blockbuster, instead of going to stores to rent movies and TV shows, users received their DVDs in the mail and sent them back after watching them. Nowadays, this company is one of the most famous subscription-based streaming services and a reference in innovation and corporate culture.
Globally Netflix is respected for its revolutionary business strategy, which has changed the entertainment industry, but beyond its ability to innovate, what has driven Netflix to the center of many conversations has been the real reason behind this innovative spirit: its corporate culture.
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How is Netflix’s Corporate Culture
The main philosophy that drives Netflix’s Methodology is “people over the process” which means that the company values working with high-performing work teams in a vastly inspired, constructive, and dynamic environment.
Netflix employs a people-first approach and has built a culture of “freedom and responsibility” which enables each employee to do whatever he wants, and they bear the responsibility.
Somehow, it is akin to entrepreneurship but in a corporate setting, because the employees are in charge of their resources and how to manage them, which allows people to discover what they want to accomplish while striving to be the best version of themselves. The manager must empower, assist, and eliminate hurdles to enable creation and innovation.
Overall, what distinguishes Netflix culture is how they:
- Empower workers to make autonomous decisions and use data science to have better insights
- Communicate information honestly, extensively, and intentionally,
- Are truthful with one another
- Hire and retain “the best” professionals
- Avoid rules
Netflix’s Methodology: Team, Innovation, and Values
The innovative approach of this entertainment platform centers on boosting its competitive edge with its product and process novelties while aiming to improve the quality of the streaming services of Netflix and its accessibility for its users.
The more you dig into the corporate culture, the more you see that Netflix values integrity, truthfulness, and transparency. Its approach to work teams aims to retain top performing professionals and empower them to act on their skills and insights. These individuals are the greatest at what they do, and Netflix can stay inventive and competitive by giving them the flexibility to do it effectively. These somehow uncommon business tactics have been essential to Netflix’s success.
Summing up, Netflix’s Methodology boosts innovation by focusing on the following:
- Hiring and retaining only the finest employees—at any cost
- Promoting honesty and organizational openness via frequent input at all levels and through all work teams
- Eliminating controls such as scheduled vacation time and permission processes
- Enabling people to innovate and accept ownership over their actions
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Innovation and a High-Performing Workforce
There is more to understand about Netflix’s Methodology than what meets the eye. This streaming giant has become a disruptive force in the culture of innovation, as it grows from the expertise of its high-performing workforce. So much so that Netflix describes itself as a high-performing workplace that is not shy of letting go of employees who are not capable enough to be part of Netflix.
Netflix has a distinct corporate culture that encourages experimentation and the usage of data science to provide more solutions to all present and prospective users.
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How to Apply This Vision to Your Startup
The startup ecosystem may not have the same resources as established IT companies, but it makes up for it in passion. The thrill of industry disruption naturally draws individuals who feel inspired by fresh ideas and innovation.
If you want your startup to be a disruptive and thriving company that brings in and retains top talent, then you need to be intentional and systematic about the culture you create. So, hyper-growing companies must:
- Encourage their employees to be inclusive, bring in new ideas and use data science..
- Give their employees positive and constructive feedback.
- Develop a unique corporate culture.
- Invest in a team of brilliant and competent professionals who are thrilled to aim for an innovative and shared objective.
At last, startups tend to have tight-knit work teams that come together around their devotion to their beliefs and work. Therefore, it is important to hire professionals who can help the company’s goal and vision come to life. In truth, finding the ideal people to join your dream team is easier said than done, but without any doubt is a decisive part of the growth of any startup.