Netflix has been contending with a culture issue and bad media ever since their employees walked out after the release of Dave Chappelle's comedy special "The Closer," which criticized transgenders. The following incident is an internal issue but also an external issue wince Netflix is down in the stock market by 67% in 2022. "In the past, it was very straightforward to either ignore these issues or find some way to straddle them [but] that has become increasingly difficult," the former executive admitted, comparing modern-day leadership to a "tightrope act" (Canal, 2022).

Netflix needs a strategy to address external issues that is also affecting their internal operations. A strategy is solid when all the assumptions you make at the time of its creation have been validated and tested for accuracy, and the decisions you've made can be presented with clear facts and evidence (Reddy, 2018). One of the best approaches Netflix can do is to be transparent, avoid cover ups, and support diversity and inclusion. Real diversity means that there is a great variety of perspectives, personalities and thinking in the organization (Lofgren, 2020). He added that all companies should continue to be "honest and clear" when it comes to official stances on various issues and, ultimately, "let customers decide" (Canal, 2022). There is a lot going on in the world today and to ensure businesses survival, the best thing they can do is develop a strategy for the long-term instead of trying to put fires out.

Reference:

Canal, A. (2022). Netflix co-founder: 'Thank goodness I'm not the CEO of a major media company today'. Yahoo Finance. https://finance.yahoo.com/news/netflix-co-founder-thank-goodness-im-not-the-ceo-of-a-major-media-company-today-212003873.html

Lofgren, J. (2020). Diversity isn't an outcome; it's a strategy for business success. Forbes. https://www.forbes.com/sites/forbescoachescouncil/2020/11/16/diversity-isnt-an-outcome-its-a-strategy-for-business-success/?sh=1e5fc09444d5

Reddy, N. (2018). Want a successful business? Build an effective strategy. Forbes. https://www.forbes.com/sites/forbescoachescouncil/2018/02/12/want-a-successful-business-build-an-effective-strategy/?sh=4debe0a869bf

Respond to your colleagues' posts in one or more of the following ways:

• Offer an insight you gained from the external problem of the company your colleague identified. Have you ever experienced a similar problem in the workplace?
• Ask a question about or provide an additional perspective regarding the strategy your colleague would recommend to the company to address the external problem.