Click The Image Below To Select A Company From The Instructo

Click The Image Below To Select A Company Fromthe Instructor Provided

Click the image below to select a company from the Instructor-Provided Approved Company list . you will research and write about this company in this discussion and throughout the course. Thinking about the company you selected above, use Exhibit 1B of your textbook to identify a prominent or influential stakeholder associated with the company. Then, describe one way the stakeholder impacted the company in the past 12 months and if you believe the action or actions were good for the company. Explain why or why not. Note : A stakeholder can be an individual, but for this discussion, do not choose the CEO, an executive leader, a board member, or a shareholder/investor.

Cite the textbook to support your response. The company I selected is NETFLIX From Business and Society: Stakeholders, Ethics, Public Policy: Chapter 1, "The Corporation and Its Stakeholders." ClicK Link >>> Interactive Textbook Resources .

Paper For Above instruction

Click The Image Below To Select A Company Fromthe Instructor Provided

Click The Image Below To Select A Company Fromthe Instructor Provided

The task requires selecting a company from the instructor-provided list, researching its stakeholders, and analyzing a prominent or influential stakeholder's recent impact based on Exhibit 1B of the textbook. For this discussion, I have selected Netflix, a leading streaming entertainment service known for its global reach and innovative content delivery. The focus is to identify a stakeholder (excluding executives, board members, or shareholders), analyze how this stakeholder influenced Netflix in the past year, and evaluate whether their actions were beneficial for the company.

Introduction

Netflix operates in a highly competitive and rapidly evolving media landscape, with stakeholders influencing its strategic direction and operational effectiveness. Stakeholders can include customers, suppliers, community groups, regulatory agencies, and partners, among others. Recognizing the importance of stakeholder influence helps Netflix navigate challenges such as content regulation, sustainability, and market expansion. This analysis focuses on a prominent community stakeholder—government regulatory bodies—particularly in relation to content regulation and data privacy in the past 12 months.

Identifying a Prominent Stakeholder

According to Exhibit 1B of "Business and Society: Stakeholders, Ethics, Public Policy," a significant stakeholder for Netflix is government regulatory agencies. These agencies, such as the Federal Trade Commission (FTC) in the United States and similar bodies worldwide, influence how Netflix operates within legal frameworks concerning content standards, data privacy laws, and consumer protection. Their decisions can have substantial impacts on Netflix’s content policies, privacy practices, and overall business model.

Impact of the Stakeholder in the Past 12 Months

In the past year, government regulatory agencies have intensified scrutiny regarding data privacy and content regulation. For example, in 2023, Netflix faced increasing pressure from regulatory bodies over issues related to user privacy and content censorship (Federal Trade Commission, 2023). One notable incident was the proposed amendments to content regulations in various countries, which prompted Netflix to reevaluate its content offerings and data management policies. Additionally, regulations concerning children's content and advertising standards impacted Netflix's programming and marketing strategies.

The influence of these regulatory agencies prompted Netflix to implement stricter data privacy measures, including enhanced encryption and transparency reports on data collection practices. These actions align with compliance requirements and aim to foster consumer trust. Simultaneously, Netflix made adjustments to its content to meet regional regulatory standards, sometimes removing or modifying programming in specific markets.

Assessment of the Impact

The actions taken by regulatory agencies have generally impacted Netflix positively by pushing the company toward more responsible data practices and greater content accountability. From a corporate social responsibility perspective, adhering to regulatory standards enhances Netflix's reputation as a trustworthy platform. However, these regulations also impose operational costs and limit content flexibility, which can hinder innovation or market expansion in the short term.

In my opinion, the regulatory influence in the past year has been beneficial for Netflix. Compliance with legal standards safeguards the company from potential legal penalties and reputational damage. Furthermore, proactive adaptation to regulatory changes can improve customer trust and brand loyalty in the long term. While there may be challenges related to content restrictions and operational costs, the overall effect encourages Netflix to prioritize responsible practices that align with societal expectations.

Conclusion

In conclusion, government regulatory agencies have been influential stakeholders shaping Netflix’s operational strategies over the past 12 months. Their actions have enforced stricter data privacy measures and content regulations, which I believe are ultimately advantageous for the company's sustainable growth. Embracing responsible practices in response to stakeholder influence fosters long-term trust and aligns with societal values, supporting Netflix's ongoing success as a global entertainment leader.

References

  • Federal Trade Commission. (2023). Annual Report on Privacy and Data Security. FTC.gov.
  • Friedman, M. (1970). The Social Responsibility of Business is to Increase its Profits. The New York Times Magazine.
  • Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman Publishing.
  • Harrison, J. S., & Wicks, A. C. (2013). Stakeholder Theory, Value, and Firm Performance. Business Ethics Quarterly, 23(1), 1-22.
  • Mitchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a Theory of Stakeholder Identification and Salience. Academy of Management Review, 22(4), 853-886.
  • Netflix Public Relations. (2023). Company Sustainability and Content Standards. Netflix.com.
  • Roberts, R. W., & Salzer-Mörling, M. (2008). Critical Perspectives in Corporate Social Responsibility. Routledge.
  • Smith, C. (2022). Data Privacy Regulations and Media Companies. Journal of Media Law, 15(3), 234-250.
  • Whetten, D. A., & Cameron, K. S. (2016). Developing Management Skills. Pearson Education.
  • Yasui, T., & Loock, M. (2021). Government Regulation and International Business. Routledge.

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