Write a response to the following discussion post, adding insights, asking questions, or providing alternative examples or perspectives. Aim to create a rich discussion:

Understanding customer needs is essential for prioritizing investments across marketing, operations, and HR because it ensures that a company$$s strategy remains aligned with customer expectations and changing demand. Customer feedback allows businesses to make informed decisions on where to allocate resources for maximum impact. By listening to customers, companies can adapt their strategies. These adaptations may involve product innovation or service delivery improvements, but the ultimate goal is to enhance the overall business performance. $($Leachman$)$

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This discussion prompt causes me to think back to a module I completed while I was taking ENTR $-710($Managing Innovation$)$ with Dr$.$ Bezjian. In this module, we explored Netflix's evolution, focusing on how the company transformed its original business model centered around mailing physical DVDs into its current streaming service$-$driven model. Netflix transformed its business model by paying attention to customer frustrations with the limitations of physical rentals. Consumers were seeking more convenience, which led Netflix to invest heavily in online streaming technology. This shift to streaming addressed customer desires for faster, more convenient access to content. As streaming gained traction, customer demands evolved again, this time calling for exclusive and original content. This caused Netflix to pivot again. They invested in content production to create their own shows like House of Cards, which set Netflix apart from their competitors. This pivot allowed Netflix to build their competitive advantage, driving customer loyalty, and establishing substantial growth in the competitive streaming market. $($Mourdoukoutas$)$

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Now, let$$s consider the impact on the Balanced Scorecard:

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Customer Perspective: Netflix$$s understanding of customer needs directly influenced its content strategy. As the company shifted from a DVD rental service to a streaming giant, and eventually a producer of original content, it consistently met customers$$ evolving expectations, leading to improved customer satisfaction and retention.

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Financial Perspective: The company$$s focus on streaming and original content significantly boosted its revenue. In $2022,$ Netflix$$s revenue surpassed $$31$ billion, a dramatic increase from $$2\mathrm{.}2$ billion in $2007$ when they began the transition. $($Statista$)$ This financial success highlights the importance of aligning investments with customer$-$driven demands.

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Internal Processes: To support its growing streaming service, Netflix invested in advanced technology like refining their algorithm to improve the user experience. This focus on operational efficiency ensured that Netflix could deliver high quality, uninterrupted content, which further solidified their position as a leader in the market.

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Learning & Growth: As demand for original content increased, Netflix also focused on strengthening their talent pool. The company recruited top talent in content creation and technology. This fostered a culture of innovation and continuous learning. $($Hastings$)$ This investment in human resources allowed Netflix to remain responsive to customer demand. This investment also supported their success in the streaming $/$ content media industry. $($Hastings$)$