Project Plan Template -integrated Project Plan-Aligning Organizational Goals with Operational Objectives

Project Objectives: The primary objectives for the Balanced Scorecard Analysis of Netflix are to help improve its competitiveness, cut costs, retain clients, and expand.

Operational Step	Responsible Person	Timeline
Review the financial operations of the business, current status, and plan for future financial strengthening using metrics, such as total revenue, total new countries reached, overall realized new TV films and new annual and semi-annual subscriptions	Maryanne (Chief Finance Officer)	06/10 (1 week)
Create strategies to maintain clients and create plans to attract new, and design strategies to influence new client referral	Jerry (Client Services Director)	13/10 (2 weeks)
Design plans that the company can execute to achieve increased profitability, and to identify ways to decrease organizational expenditure. Recruit new talent and maintain it as a competitive strategy	June (Internal Business Process deputy director)	27/10 (2 weeks)
Gain tools to expand the market and have increased financial performance compared to competitors	Elly ( Learning and Growth director)	10/11 (2 weeks)

Project Objective: Improve the overall financial position of the business and design ways to cut costs

Operational Step	Responsible Person	Timeline
Researching on techniques to increase the current market share. Use total revenue data for the past five years to create the mentioned strategy. Ensure that the market share increases by 5% in 2022.	Christine (assistant chief finance officer )	06/10 (1 week)
Conducting surveys to find out if unreached countries are accommodative of the Netflix products. Ensure that Netflix has coverage in 4 new countries by 2023.	Maryanne	06/10 (1 week)
Design strategies to create new Netflix content, approach new content creators to create an agreement on the production of exclusive content for Netflix to cut costs. Ensure that the plan will help in the production of 3,000 films and series exclusive to Netflix by 2025.	Tom (director, Netflix Finance department)	06/10 (1 week)
Review the semi-annual and annual subscriptions to identify ways to increase profitability. Ensure that by 2022, Netflix has a 10% increased profitability.	Maryanne	06/10 (1 week)

Project Objective: Retain current clients and attract new subscribers across the world

Operational Step	Responsible Person	Timeline
Identify ways that Netflix can increase the value for its clients. The plan should influence increased profit contribution by clients by 5% in 2022.	Jerry	13/10 (2 weeks)
Assess Netflix account hacking strategies used by cyber-crime attackers. Create cyber-attack mitigation plans, present them to the executive board for approval. Implement these plans when approved. Ensure that by 2022, attempts to hack Netflix accounts are reduced by 4%.	Kay (Deputy director, information technology department)	13/10 (2 weeks)
Design promo code offers and coupons to offer to attract new clients. Ensure the strategy helps Netflix attracts 7% more referrals in 2022.	Jerry	1310 (2 weeks)
Assess total new subscribers in the past five years and then use this information to create rewards, such as paid subscriptions for a month, to increase referrals for new clients. Ensure that by 2022, Netflix subscribers have increased by 4%.	Jerry	13/10 (2 weeks)

Justification

Netflix should design operational objectives to act as a vision map that will help it to achieve its planned sustainability period, financial robustness, and competitiveness in the entertainment online streaming industry. Firstly, if Netflix reviews its financial operations to identify cost-cutting areas and ways to increase its revenue income, it will enjoy several benefits. The organization will save on funds that can be invested in other areas to help it achieve its mission, vision, and objectives. For instance, if Netflix begins to create its own content, it will save on funds used to contract content from other producers. The saved funds can be channeled to other areas, such as designing coupons and creating promo codes to attract new clients or purchasing sophisticated technology to strengthen the current used to prevent cyber-attacks (Grozdanovska et al., 2017). Moreover, financial reviewing of the company will help it determine weak areas that prevent earning of more revenues, such as not tracking total revenue income trends or current subscriber base. Identifying these weakness areas will help the organization create remedial plans that will ensure it attains its desired financial strength and position.

Secondly, if Netflix reviews its client base, it will identify the deficit areas. For instance, if the organization has been targeting to have five million subscribers and after the client base review it discovers its current customers are three million, then it will have the opportunity to design ways to attract the deficit two million clients. Some of these deficit clients could be old subscribers who have not renewed their subscriptions for more than six months. The organization could then create plans to re-attract these old subscribers into renewing their payments and ensuring they sustain their plans for long (Nasir, 2017). Alternatively, part of the client deficit could be potential customers who can be attracted through referrals or promotions. Netflix could then design promotion campaigns or referral rewards that will help it attain the objective of having a client base of five million subscribers worldwide.

Thirdly, if Netflix reviews its current hiring practices, it will identify weaknesses that cause employee turnover, which impact the business profitability and overall operations negatively. For instance, if Netflix currently has a 10% turnover every three months and these employees are high-value people, then it needs to review why these workers are dissatisfied. Perhaps when hiring, the organization concentrated on the knowledge and skills of the recruited candidates instead of their values and alignment to company vision, mission, and objectives (Saviour et al.,2016). Further, Netflix could realize that its employee turnover rates could result from not having employee learning and growth plans, such as paying for re-trainings, organizing for workers to attend beneficial seminars, or coaching employees after annual performance review results are released (Rodriguez & Walters, 2017). The company could then remedy these weak areas and create strategies that will ensure it hires the right talent and maintains it in the long term. In the end, empowered workers will exhibit desired traits that will help increase the organization’s profitability, such as intensive job engagement and involvement.

Lastly, if Netflix conducts an in-depth research and development, it will discover techniques that can broaden the current customer base. For instance, the organization could discover software that allows subscribers to stream content on their smartphones, and this plan could be charged at low fees than laptop or television owners. The company could then advertise this tool and attract clients who have wanted to subscribe to Netflix but fail to do so for lack of a television or laptop (Nasir, 2017). These clients will add to the current customer base the organization has, and in the future, it could design other tools through research that will help it expand its client base more.

References

Grozdanovska, V., Bojkovska, K., & Jankulovski, N. (2017). Financial management and financial planning in the organizations. European Journal of Business and Management, 9(2), 120-125. https://core.ac.uk/download/pdf/234627714.pdf

Nasir, S. (2017). Customer retention strategies and customer loyalty. Advances in Marketing, Customer Relationship Management, and E-Services, 244-267. https://doi.org/10.4018/978-1-4666-8231-3.ch009

Rodriguez, J., & Walters, K. (2017). The Importance of Training and Development in Employee Performance and Evaluation. World Wide Journal of Multidisciplinary Research and Development, 3(10), 206-212. https://www.researchgate.net/publication/332537797_The_Importance_of_Training_and_Development_in_Employee_Performance_and_Evaluation

Saviour, A. W., Kofi, A., & Yao, B. D. (2016). The Impact of Effective Recruitment and Selection Practice on Organisational Performance (A Case Study at University of Ghana). Global Journal of Management and Business Research, 16(11), 1-11. https://globaljournals.org/GJMBR_Volume16/3-The-Impact-of-Effective-

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Question

A project plan is based on research and organizational goals. To see an exemplary project plan, review the Project Plan Example.

Project Plan Template -integrated Project Plan-Aligning Organizational Goals with Operational Objectives

Use the Project Plan Template and the business needs identified in your Week 3 Balanced Scorecard to:
o Develop the project objectives.
o Explain what operational steps will be taken to achieve your stated objectives.
o Identify the responsible person(s) for each operational step.
o Outline a timeline for each operational step.

Justify the choices you made in your project plan in a 525- to 700-word response on the Project Plan Template.

Note: Review Strategic Management-8 Most Popular Cases in Connect. Access the case studies from the folder on the main course page in Blackboard.

Project Plan Template -integrated Project Plan-Aligning Organizational Goals with Operational Objectives