Question

The 8 managerial tasks relevant to executing strategy effectively.

1. Staffing, developing resources, developing competencies, developing capabilities, organizational structure (10)
2. Steer resources to critical value chain activities (11)
3. Ensure policies and procedures are in place (11)
4. Adopt best practices and pushing for continuous improvement in how value chain activities are performed (11)
5. Installing information and operating systems (11)
6. Using rewards and incentives properly (11)
7. Instilling a corporate culture (12)
8. Exercise strong leadership, make corrective adjustments, move toward operating excellence. (12)

Choose at least one of these areas that relate to Netflix and specifically discuss how, as their strategic planner, you would implement the activities involved. You may choose more than one.

Answer 1

Using rewards and incentives properly

We all know that the most important aspect of the HR activities is to make the employees satisfied and motivated so that they can put their best to the organization, This can be achieved by having the implementation of correct reward and incentive plans. The incentives are one of the most important aspects of HR activities. In order to implement this in an effective manner, first of all, it is important to understand that the different people are motivated by the different elements. Some will be motivated by the monetary aspects of the rewards and incentive places such as commission, while some will be motivated by the non-monetary benefits such as acknowledgement by the management.

For having an effective reward system, it is important to, first of all, understand what kind of motivation factor can be used for the different individuals. On the basis of their internal motivation, the HR manager should develop the right type of reward system

If a general or standardized reward system is developed, then it will not yield the desired outcomes as some may be motivated by it and some may not have any interest in it. Thus being the strategic planner, I would, first of all, find out the motivating element of different individuals and depending on that I will develop the customized incentive plans so that the objective of these plans can be achieved