1: Organizations are continuously evolving their strategies. The reason for this is simple, how to get the most sales, market share and attention. Strategic management defined, “a process of analyzing the current situation, developing appropriate strategies, putting those strategies into action, and evaluating and changing those strategies as needed” (Coulter, 2013) is a critical component to remaining on the cutting edge in today’s society. Entrepreneurship is on the rise thanks to global outreach with the world wide web and several business applications that allow for collaboration even thousands of miles away. The term, “making strategy, once an event, is now a continuous process” describes how companies must compete in the fast-paced world we know today. There are new technological breakthroughs all the time and companies race to buy the newest gadgets, software or rights to property that will help them be a number one choice on the market. This type of business requires strategy to differentiate between necessary purchases, investments and waste of company funding or actions that do not justify the results. Understanding what the target market/audience demands, or needs is key to remaining competitive and aligning a business strategy around this concept is a number one cause for success. Apple launched the iPad because so many people were lugging around laptops and the laptops were bulky, some inefficient, and simply just not very mobile for an on the go business world. Leader and marketers of Apple understood this need and heard the customers and chose to take a large leap into investing billions into the iPads, hoping they would meet the demand of consumers. Their strategy paid off as it was stated consumers from all over the world came to stand in the line just for the change to buy the new product. This maneuver put Apple at the top of the technology pool and set them apart, so much so, Microsoft, Samsung and Sony all followed suit with their own versions of the iPad as tablets. Now you would be hard pressed to find a tech company that did not offer some version of an iPad in tablet form, but Apple started the movement.
2: I believe the phrase means that strategic management is instrumental to an organization in each venture or advance. Also, it is a process that keeps going in an effort to be innovative and improve each project, season, or year. In the Air Force, we are always looking for continuous process improvement. In today’s world there is always a way, a means to do something different, that can be better, faster, stronger. It only makes sense that we would strategize to make that happen. For us, it’s mission essential to stay ahead of the game, and defeat the war in terror. In reference to apple, example is the 1st generation ipod, skip ahead, the nano, skip ahead the iphone. As we progress, the develop the device giving it more features that appeal to the public, their demographic, meeting the demand and interest of their consumer. In way their strategic plan was extremely competitive, to the point were they changed the game and now the ibrand becomes more and more popular and trendy.
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When reviewing the Fortune’s annual ranking of the most admired companies. Surprisingly, the company that I am currently a customer made the Top 10 list. Netflix, Inc.ranked number 8 on Fortune’s list. Unfortunately, Netflix did not make the Fortune Global 500 list. Some of the most notable companies did rank in Fortune’s Global 500 list. For example Nike rank 340 with revenue of $34,350 million, Walmart rank number 1 (of course) with $500,343 million in revenue. However, in the Most Admired Companies in the Entertainment Industry rank number eight. Unfortunately, Netflix did not make the Fortune Global 500 list. Some of the most notable companies did rank in Fortune’s Global 500 list. For example Nike rank 340 with revenue of $34,350 million, Walmart rank number 1 (of course) with $500,343 million in revenue.
As a customer of Netflix, Inc., I decided to select this company who made the Top 10 list from the Fortune Magazine. I felt it was befitting of me to select Netflix since I invest in their service monthly. More importantly, I get to see how well Netflix, Inc.is performing based on their annual report.
Recently, Netflix has become popular with all of the advertised promotional offers to join their company. Also. Netflix has received recognition for showing certain movies such as the Bird Box starring Sandra Bullock. As a Netflix member, I was eager to review Netflix’s financial information. Primarily, Netflix charges a monthly fee for their services. Netflix claims the reason for the increase of the membership fee is to improve its digital content and services for its customers. Netflix’s annual reports indicate in 2018 Netflix’s net income was $1,211.242, in 2017 earned $558,929 (thousands), and in 2016 earned $186,678 (thousands).This shows that Netflix’s popularity significantly increased yearly.
The Board of Directors’ information is included on the company’s annual stockholder’s report. The report lists their name, age, and occupation. The individuals assigned as the Board of Directors have extensive business experience, education, and personal skills that meet the requirements to serve in this area. On Netflix’s Board of Directors is a familiar name is Susan Rice, who currently serves as an Ambassador-US diplomat and National Security Advisor. Previously, Ambassador Susan Rice served on the cabinet board reporting to previous President Barack Obama.
My conclusions about the role of the Board in the strategic management of these most admired companies as previously noted. The individuals who serve on the Board of Directors include individuals who have experience in the business industry, educational background, and personal skills. Also, the Board of Directors does not include just men. The Board of Directors is no longer just one gender. They value the input from the other gender and older persons. According to Coulter, M. (2013) indicated, “Strategic management is a process of analyzing the current situation developing appropriate strategies; putting the strategies into action and evaluating, modifying, or changing the strategies as needed” (section 1.5, para. 2). The Board of Directors must seek individuals with business experience and knowledge to serve in a capacity that can help the company to become successful and thrive financially.
Working for Disney I admire the company and the career they have given me, but for this discussion I decided to look at Starbucks because I like the coffee from there and who would of know that a company can become an icon in the coffee business. They are every where you go in the world. As one of the top 10 admired companies and ranking fifth on the list. I thought it will be interesting to look at their annual report and understand the views of their board. When I reviewed the annual report for Starbucks it was clear that the company is on the right track and is not going any where for a while. Starbucks sunce 2014 thru 2018 the company has increase their revenue by over two million dollars year over year and in some years even more. Another interesting thing I noticed that the promote form within. According to starbucks.com (2019) “Kevin R. Johnson has served as president and chief executive officer since April 2017, and has been a Starbucks director since March 2009” (p. 8). This tells me about a company because they are trusting that the employees that were in positions below the president are promotable. There are companies out there that always think that they need to bring someone else to help grow their business, but starbucks must feel that using the experience they already have in upper management positions is the way to go. The board of directors has an interesting mix because they have members that are from other large companies like Microsoft, Colgate and LEGO. According to Cooulter (2013) “The board’s role has been approached from two opposing perspectives” (sec.1.3). The board for Starbucks are focused on the brand and developing the company. By having leaders that worked in positions like director before they moved up to VP shows that they understand the business.