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“The Walt Disney Company is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media.” (The walt disney, n.d.) At year end of 2013, the company had net revenues of $45 billion, up from $42.3 billion the previous year and net income of $6.1 billion, up from $5.7 billion the previous year. ("Walt disney co," 2014)
Enterprise Risk Management
Risk management is a way for firms to grow and create value. Enterprise risk management programs give organizations the tools they need to make quicker decisions with confidence. Steven Hunt, vice president of research at Forrester Research states, “It’s like driving a car: You can only go fast if you know you have good brakes.” (Buchanan, 2004) “As organizations develop their risk management processes, they can use those processes to consider the opportunity side of risk and use those processes to both protect and create value.” (Frigo & Anderson, 2014) The following will be an overview of The Walt Disney Company’s risk management practices.
The People
At The Walt Disney Company, they understand that the people are one of their biggest assets. The success of the company wouldn’t be possible without their employees, from top-level executives to individual employees, which they refer to as cast members. With that being said, it would only make sense that they implement a comprehensive risk management strategy for workers’ compensation. Disney recognized that reputation is another one of their biggest assets and disregarding the safety of their employees and care for injured workers would be a contradiction to their closely held values an...
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...t framework: Adapt, don't adopt. Strategic finance,96(1), 49-53.
Gusman, P. (2008). Walt disney delivers big wc savings by involving entire "cast" in rm roles. National Underwriter/ P&C, 112(31), 16-28.
Risk factors relating to disney. (n.d.). Retrieved from http://sec.edgar-online.com/walt-disney-co/s-4-securities-registration-business-combination/2006/02/17/Section14.aspx
The Walt Disney Company. Company Overview | The Walt Disney Company. Retrieved March 23, 2014, from http://thewaltdisneycompany.com/about-disney/company-overview
U.S. Securities and exchange commission, (2013). The walt disney company form 10-k (Commission File Number 1-11605). Retrieved from website: http://thewaltdisneycompany.com/sites/default/files/reports/fy13-form-10k.pdf
Walt disney co. (2014, March 21). Retrieved from http://money.cnn.com/quote/financials/financials.html?symb=DIS
If upper management cannot promote the roll out of new movies or TV shows on their own time, then he or she might decide to decline the position for another firm that does not limit the venues to advertise feature productions. Another hindrance Disney can face when, onboarding senior executives, are not allowed to create partnerships or agency between parties under this agreement outlined in the miscellaneous section (“Non-Disclosure, Non-Circumvention And Non-Competition Agreement,” n.d.). If top level employees are not permitted to forge relationships outside of the Disney family, then the candidate can change their mind and seek employment elsewhere that does not put constraints on them because of the employer’s name and reputation. Even though Disney take liberties to ensure sensitive data is protected, there are benefits and consequences for the high-potentials signing confidential
problems. In a study done on the role of the Walt Disney Company, Vincent Faherty explains
Executive Summary: The entertainment industry holds the immense potential for growth and development. The industry is constantly evolving and Walt Disney emerge as a global leader and recognized as the world’s second largest media conglomerate in the terms of revenue after Comcast. The Walt Disney Company is a multinational entertainment conglomerate headquartered at California, United States. The company integrated its products into five target segments are as follows: (1) Media Networks (2) Parks and Resorts (3) Walt Disney Studios (4) Disney Consumer Products (5) Disney Interactive.
The Walt Disney Company is a highly diversified media and entertainment company that has been growing by leaps and bounds since its inception in the late 1920’s. In the past few decades, The Walt Disney Company has expanded into numerous markets and diversified its business greatly. The company states that their corporate strategy is targeted at creating high-quality family content, exploiting technological innovations to make entertainment experiences more memorable, and expanding internationally. Upon studying the happenings of the company throughout the years, it is easy to see that the company is executing this strategy well through numerous strategic moves in the industry.
(1) Michel G. Rukstad, David Collis; The Walt Disney Company: The Entertainment King; Harvard Business School; 9-701-035; Rev. January 5, 2009
significant requirements for the financing portion of the remaining needed amount. Disney was looking to
The company that I choose to explore is The Walt Disney Company. Walt Disney started the Disney Brothers studio in 1926, after years of working as a cartoonist. I selected this company due to the fact I am a fan of their products and services. Disney produced some of my favorite films like Aladdin, Hook and The Lion King. After I visited their website, I discovered that Disney owns multiple media outlets, in such areas as film, Internet, music, broadcasting, publishing and recreation. According to Disney’s “The mission of The Walt Disney Company is to be the one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, service and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world”. The Disney brand is doing exactly what their mission states.
Walt Disney Studio Entertainment owns: Walt Disney Studio Motion Picture, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios, Touchstone Pictures, Disney-nature, and Disney Theoretical Group. Moreover, Disney Consumer products owns: Disney Licensing, Disney Publishing Worldwide, and Disney Store. This adds to the population Disney has and its viewers. They have theme parks today in California, Florida, Japan, Paris, and Hong Kong. Their audience is focused upon people of all ages taking on today’s mainstream entertainment reaching 300 million homes in 168 countries
This case provides a brief history of management conflict and change at Walt Disney Company. Former CEO Michael Eisner was considered to be controversial because of his abrasive style and tendencies toward micromanagement. It was this style that strained several important relationships to the Disney Company. Though his reign as CEO during the 80’s and 90’s helped advance Disney Company, it was his conflicting management style that led to his demise and the beginning of Robert Iger’s epoch at Disney. Since Iger has taken the helm as CEO Disney was ranked 67th in the Fortune 500 list for largest companies, it has become the largest media conglomerate in the world, and relationships and disputes stemming from Eisner have been reconciled.
One of the key factors of the successful diversification is the very strong branding of the name Disney. That the name was famous after the success in the early years made it among other things possible to go into the theme park industry. Evaluated isolated, the theme parks was a success. But when also accounting for the synergies created, the decision to go into this industry was a huge success. It has created a spiral of synergies, where the characters in the movies get more popular due to the parks, as well as the fact that when people are visiting the parks they get stimulated to buy the merchandise. This is just one example of the synergies that exist in Disney. When Michael Eisner took over control in Disney, he kept focusing on same corporate values as earlier, which are quality, creativity, entrepreneurialism and teamwork. These values have been preserved despite of the size of Disney, and are an important factor in sustaining and building the Disney brand.
Customers play and important role for Disney World Company success. I been with my family in Disneyland and I feel that employees threat my family with dignity and respect, this is why I plan a vacation to Disneyland at least once a
They include: excellence in leadership, excellence in casting, guest satisfaction, financial results, and repeat business (Coverly, 2013). As it pertains to leadership excellence, Walt Disney is cognizant of the fact that communication is indeed the key driver and foundation for a collaborative culture within the company. Therefore, in this regard, the company encourages the cultivation of collaboration by essentially creating an enabling environment where ideas are spoken without fear of favoritism. Hence, Walt Disney promotes the use of positive language as part of its strategy of fostering leadership and collaboration. The use of positive language lays a basis for the realization of excellence in casting as one of the company’s policies. It is necessary to note that according to Coverly (2013), Walt Disney does not refer to its staff as employees; rather, the company classifies them as casts within the whole business arena. This concept, as Coverly (2013) continues to elaborate, emanates from the cognizance by the company that each employee has an intrinsic and unique role to pay within the company. As such, it is more natural to refer to them as casts, rather than the traditional “employee” notation. This strategy is very influential in generating and sustaining employee motivation which stems
In my opinion Walt Disney is arguably the greatest children’s company on the planet. The mere mention of the company’s name can inspire the imagination of millions of children to dream amazing things. Disney in general has created more of a culture. It has impacted people’s lives for many generations. Because of this culture, Disneyland has been successful no matter how expensive the park is or the products they sell in retail. They have found a way to impact peoples lives no matter what age you are or what culture you're from. The company has continues to grow and profits have become even greater than Walt Disney himself ever thought it would be. Fiscal year 2016 was the sixth consecutive year of record results, highlighted by the opening
The mission of The Walt Disney Company is to be one of the world 's driving makers and suppliers of redirection and data. Utilizing our game-plan of brands to confine our substance, associations and buyer things, we would like to build up the most inventive, creative and beneficial distraction encounters and related things on the planet. Disney began off in the 1920 's when Walt Disney and his family Roy indicated simultaneousness with MJ Winkler to make a development of the Alice Comedies, shaping the Disney relationship at first known as The Disney Brothers
The Walt Disney Company, or more commonly known as Disney, is an American corporation headquartered in the Walt Disney Studios, Burbank, California. Disney (DIS) is the largest operator of theme parks and resorts and largest media conglomerate, reported total revenue of $11.58 billion, a 4% raise from the previous year in its third-quarter results. Most of its revenue is generated from the media network segment and the park and resort segment. Disney's strategies mainly focus on generating the best creative content possible along with innovation and utilizing the latest technology. (Seekingalpha.com, 2014)