Read “Global Capsule 3” on page 72 of your course textbook. As you read, pay close attention to Netflix’s strategy, and write a case study describing the points listed below.
What are Netflix’s internal strengths and weaknesses?
Who are Netflix’s competitors?
Do you see Netflix’s strategy as effective or ineffective? Why?
phenomenon would be that people are more reluctant to take risks if an impersonal decision is presented as a potential gain rather than framed as a potential loss, even though the outcomes are identical (Tversky & Kahneman, 1981). 1. In Risk-Taking People are generally risk averse, constantly forgoing multiple opportunities despite how attractive it can be. This is so as people are usually affected emotionally twice as much by loss as they are affected positively by gains of an equivalent amount. However, new findings have shown that such aversion to loss is drastically reduced when the decision is made in their foreign tongue (Keysar, Hayakawa & An, 2012). Typically, people associate their native language with emotions, which may confuse their logical thinking. Therefore, it is theorized that speaking in a foreign language makes people more rational by creating a psychological distance, causing them to switch from automatic to systematic thinking (Jarrett 2012). This lack of emotional connection with their foreign language leads to a more rational thought process. By regularly making decisions in a foreign language, bilinguals might be more willing to take risks and welcome opportunities, as they exhibit less myopic loss aversion. In the long run, this behavior could be very much beneficial. 2. In Moral Issues In another study, when bilinguals were confronted with a moral dilemma, it was noted that the participants were more likely to choose the utilitarian option of maximizing benefit for the majority (Costa, Foucart, Hayakawa, Aparici & Apesteguia, 2014). This highlights that using a foreign language affects moral judgement. Similar to risk-taking, this might be due to the use of a foreign language inhibiting emotional processing. People are more utilitarian in their foreign tongue because they feel less, not because they feel more (Hayakawa et al., 2017). Another possibility would be that more cognitive effort is needed when using a foreign language, resulting in the person slowing down to think more deliberatively, therefore more rationally. Although rational decision-making in terms of loss aversion and moral judgment has been shown in bilinguals with foreign language, it has not been widely observed in bilinguals with a second language that is >GET ANSWER