Walt Disney
Walt Disney
Walt Disney
First of all we are grateful to Almighty Allah most beneficial & the most merciful, who has made us capable of making this report & has given us various opportunities for development in every walk of life. We would also like to show gratitude towards my course instructor MamKiran for teaching & making us capable enough to work on this report & providing us with great opportunity to learn how case study analysis is done in the corporate world. Without his complete guidance and support I would not have been able to complete this endeavour. I hope this report meets his standards and expectations.
TABLE OF CONTENT
S.NO 01. 02 03 04
TOPIC INTRODUCTION THE FOUNDER HISTORY COMPANY OVERVIEW MEDIA NETWORKS PARKS & RESORTS THE WALT DISNEY STUDIOS DISNEY CONSUMER PRODUCTS DISNEY INTERACTIVE GROWTH LOCATION MAP MISSION STATEMENT PROPOSED MISSION STATEMENT COMPETITORS STAGE 1: INPUT STAGE EXTERNAL FACTOR EVALUSTION (EFE ) MATRIX. COPMETITIVE PROFILE MATRIX (CPM) INTERNAL FACTOR EVALUATION(IFE) MATRIX STAGE 2: MATCHING STAGE 1. SWOT MATRIX 2. STRATEGIC POSITION & ACTION EVALUATION (SPACE) MATRIX 3. BOSTON CONSULTING GROUP (BCG ) MATRIX 4. INTERNAL EXTERNAL (IE) MATRIX 5. GRAND STRATEGIC MATRIX
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05 06 07 08 09
26 27 28 28 29 - 32
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33- 40
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TOPIC STAGE 3: THE DECISION STAGE 1. QUANTITATIVE STRATEGIC PLANNING MATRIX (QSPM) FINANCIAL POSITION OF WALT DESINEY COMPANY 1. INCOME STATEMENT 2. BALANCE SHEET 3. FINANCIAL RATIO ANALYSIS IMPLEMENTATION STAGE 1. ANNUAL OBJECTIVES & POLICIES 2. STRATEGIES RECOMMENDATIONS CONCLUSION
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45-49
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50-52
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INTRODUCTION:
Walt Disney is one of the world's leading producers and providers of entertainment and information. It owns media networks as well as parks and resorts. The company also makes movies and markets consumer products. Walt Disney operates in North America, Europe, Asia Pacific and Latin America. It has strong portfolio of brands in entertainment business. Strong brand image helps the company attract consumers to its entertainment products. The company also has the option to leverage its strong brand image to enter new businesses.
THE FOUNDER:
Walt Disney 1901-1966
Walt Disney was born on December 5, 1901 in Chicago Throughout the drop of 1918, Walt Disney attempted to enlist for military service but he got rejected. He started a small company called Laugh-O-Grams, which eventually fell bankrupt. With his suitcase, and $20 Walt headed to Hollywood to start anew. After making a success of his "Alice Comedies," Walt became a recognized Hollywood figure. Disney took a deep interest in the establishment of California Institute of the Arts, a college-level professional school of all the creative and performing arts. Walt Disney passed away on December 15, 1966. Urban legend maintains his corpse would be frozen and stored beneath the Pirates of the Caribbean ride at Disneyland.
HISTORY
October 16, 1923:
This date is considered the start of the Disney Company first known as The Disney Brothers Studio.
1928:
First Mickey Mouse cartoon and the first appearance by Minnie Mouse.
1932:
Flowers and Trees, first full-colour cartoon and first Academy Award winner.
1939:
The Disney Studio begins its move to Burbank, California.
1940:
Walt Disney Productions issues its first stock.
COMPANY OVERVIEW:
For over 85 years, The Walt Disney Company has been the preeminent name in the field of family entertainment; the Disney name has symbolized creativity, innovation, trust, decency, optimism and quality. Disney, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments:
1. MEDIA NETWORKS
Media Networks comprise a huge array of broadcast, cable, radio, business enterprise and digital businesses across 2 divisions the Disney/ABC Television cluster and ESPN Inc. Additionally to content development and distribution functions, the section includes supporting headquarters, communications, digital media, and distribution, marketing, analysis and sales teams. The Disney/ABC Television Group is composed of The Walt Disney Companys global entertainment and news television properties, owned television stations group, as well as radio and publishing businesses. This includes the ABC Television Network, ABC Owned Television Stations Group, ABC Entertainment Group, Disney Channels Worldwide, ABC Family as well as Disney/ABC Domestic Television and Disney Media Distribution. Hyperion publishing and the Companys equity interest in A&E Television Networks round out the Groups portfolio of media businesses.
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1 2 3 4 5 6 7 8
Media Network
ESPN Disney/ABC Television Group ABC Entertainment Group ABC News ABC Owned Television Stations Group ABC Family Disney Channels Worldwide Hyperion Books
1.1. ESPN
Industry: Sports Media Founded: 1979 Headquarters: Bristol, CT Properties: Eight U.S. TV networks (five w/HD services), ESPN International (48
networks plus HD, radio, digital platforms & more), ESPN Audio, ESPN.com, other sport- & market-specific sites, ESPN3, ESPN The Magazine, Mobile ESPN, Watch ESPN, owned events, and more.
Industry: Television, Radio, Publishing & Digital Media Founded: 2004 Headquarters: Burbank, CA Properties: ABC Entertainment Group, ABC Family, ABC News, ABC Owned Television
Stations Group, Disney/ABC Television Group Digital Media, Disney/ABC Domestic Television.
Industry: Television & Digital Media Founded: 2009 Headquarters: Burbank, CA Properties: ABC Digital, ABC Entertainment, ABC Studios, Times Square Studios.
Industry: Television, Radio & Digital Media Founded: 1962 Headquarters: New York, NY Properties: ABC News Digital, ABC News Now, ABC News Radio
Industry: Television & Digital Media Founded: 1948 Headquarters: Burbank, CA Properties: WABC-TV New York, NY; KABC-TV Los Angeles, CA; WLS-TV Chicago,
IL; WPVI-TV Philadelphia, PA; KGO-TV San Francisco, CA; KTRK-TV Houston, TX; WTVD-TV Raleigh-Durham, NC; KFSN-TV Fresno, CA; Live Well Network.
Industry: Television & Digital Media Founded: 2001 Headquarters: Burbank, CA Properties: ABC Family Digital, ABC Spark
Industry: Television, Radio & Digital Media Founded: 1983 Headquarters: Burbank, CA Properties: Disney Channel, Disney Cinemagic, Disney Junior, Disney XD, Hungama,
Radio Disney.
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When Walt Disney opened Disneyland on July 17, 1955, he created a unique destination built around storytelling and immersive experiences, ushering in a new era of family entertainment. More than 55 years later, Walt Disney Parks and Resorts (WDP&R) has grown into one of the worlds leading providers of family travel and leisure experiences, providing millions of guests each year with the chance to spend time with their families and friends making memories that will last forever. At the heart of WDP&R are five world-class vacation destinations with 11 theme parks and 43 resorts in North America, Europe and Asia, with a sixth destination currently under construction in Shanghai. WDP&R also includes the Disney Cruise Line with its four ships the Disney Magic, Disney Wonder, Disney Dream and Disney Fantasy; Disney Vacation Club, with 11 properties and more than 500,000 individual members; and Adventures by Disney, which provides guided family vacation experiences to destinations around the globe.
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Industry: Theme Park and Resort Founded: July 17, 1955 Headquarters: Anaheim, California Properties: Disneyland Park, Disney California Adventure
Industry: Theme Park and Resort Founded: October 1, 1971 Headquarters: Lake Buena Vista, Florida Properties: Magic Kingdom, Epcot, Disneys Hollywood Studios, Disneys Animal
Kingdom.
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Industry: Theme Park and Resort Founded: April 15, 1983 Headquarters: Chiba Prefecture, Tokyo, Japan Properties: Tokyo Disneyland Park, Tokyo Disney Sea
Industry: Theme Park and Resort Founded: April 12, 1992 Headquarters: Marne-la-Valle in the IIe-de-France region Properties: Disneyland Park, Walt Disney Studios Park.
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Industry: Theme Park and Resort Founded: Targeted to Open in Late 2015 Headquarters:Pudong New District, Shanghai Properties: Shanghai Disneyland Park
Industry: Cruise Line Founded: 1998 Headquarters: Port Canaveral, Florida Properties: Disney Magic (1998), Disney Wonder (1999), Disney Dream (2011), Disney
Fantasy (2012)
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Industry: Timeshare Founded: October 1991 Headquarters: Florida, South Carolina, California, Hawaii Properties: Disney Vacation Club
Industry: Hotel and Timeshare Founded: August 2011 Headquarters:KoOlina, O`ahu, Hawaii Properties:Aulani, a Disney Resort & Spa, KoOlina, Hawaii
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2.10.
DISNEY ADVENTURE
Industry: Guided Vacations Founded: 2005 Headquarters: Burbank, CA Properties: Adventures by Disney
Industry: Theme Park and Resort Founded: December 16, 1952 Headquarters: Glendale, California Properties: Walt Disney Imagineering
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For more than 85 years, The Walt Disney Studios has been the foundation on which The Walt Disney Company was built. Today, the Studio brings quality movies, music and stage plays to consumers throughout the world. Feature films are released under the following banners: Disney, including Walt Disney Animation Studios and Pixar Animation Studios; Disney nature; Marvel Studios; and Touchstone Pictures, the banner under which live-action films from DreamWorks Studios are distributed. The Disney Music Group encompasses the Walt Disney Records and Hollywood Records labels, as well as Disney Music Publishing. The Disney Theatrical Group produces and licenses live events, including Disney on Broadway, Disney on Ice and Disney Live.
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Industry: Live-Action Film Production Founded: 1950 Headquarters: Burbank, CA Properties: Disney
Industry: Live-Action Film Production Founded: 1996 Headquarters: Manhattan Beach, CA Properties: Marvel Studios
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Industry: Film Distribution Founded: 1984 Headquarters: Burbank, CA Properties: Touchstone Pictures
Industry: Nature Films Founded: 2008 Headquarters: Paris, France Properties: Disney nature
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Industry: Animated Film Production Founded: 1923 Headquarters: Burbank, CA Properties: Walt Disney Animation Studios, DisneyToon Studios
Industry: Animated Film Production Founded: 1986 Headquarters: Emeryville, CA Properties: Pixar Animation Studios
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Industry: Music Founded: 1956 as Disneyland Records Headquarters: Burbank, CA Properties: Walt Disney Records, Hollywood Records, Disney Music Publishing
Industry: Theatre Founded: 1993 Headquarters: New York, NY Properties: Disney Theatrical Productions (Disney on Broadway), Disney On Ice, Disney
Live.
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Disney Consumer Products (DCP) is the business segment of The Walt Disney Company (NYSE:DIS) and its affiliates that extends the Disney brand to merchandise ranging from apparel, toys, home dcor and books and magazines to foods and beverages, stationery, electronics and fine art. This is accomplished through a franchise-based licensing organization focused on strategic brand priorities, including: Disney Classic Characters & Disney Baby; Disney Live Action Film; Disney Media Networks & Games, Disney & Pixar Animation Studios; Disney Princess & Disney Fairies; and Marvel. Other businesses involved in Disney's consumer products sales are Disney Publishing Worldwide, the world's largest publisher of children's books and magazines, and www.DisneyStore.com and www.DisneyStore.co.uk, the company's official shopping portals. The Disney Store retail chain, which debuted in 1987, is owned and operated by Disney in North America, Europe, and Japan.
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Industry: Licensing Founded: 1929 Headquarters: Glendale, CA Properties: All Disney, Disney-Pixar and Marvel properties
Industry: Publishing Founded: 1930 Headquarters: White Plains, NY Properties: Disney Editions, Disney Hyperion, Disney Jump at the Sun, Disney Press,
Disney Libros (Spain), and Disney Libri (Italy), Disney Book Apps, Disney Kids Magazines, and Disney Learning.
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Industry: Retail Founded: 1987 Headquarters: Pasadena, CA Properties: All Disney, Disney-Pixar and Marvel properties
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5. DISNEY INTERACTIVE
Founded in 2008, Disney Interactive entertains kids, families and Disney enthusiasts everywhere with world class products that push the boundaries of technology and imagination. Disney Interactive creates high-quality interactive entertainment across all digital media platforms, including blockbuster mobile, social and console games, online virtual worlds, and #1-ranked web destinations Disney.com and the Moms and Family network of websites.
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Disney Interactive
Disney Online Disney Games
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GROWTH
1955:
Mickey Mouse Club debuts on television.
1971:
Walt Disney World Resort opens with the Magic Kingdom and two hotels near Orlando, Florida.
1982:
EPCOT Centre opens at Walt-Disney World Resort.
1983:
Tokyo Disneyland, the first international Disney theme park, opens in Japan.
1987:
The first Disney Store opens, in Glendale, California.
1989:
Disney-MGM Studios opens at Walt Disney World Resort.
1992:
Disneyland Paris opens.
1995:
Disney agrees to purchase 25 percent of the California Angels baseball team, Disney agrees to purchase Capital Cities/ABC for $19 billion. The Disney Channel begins operation in the UK.
1996:
Disney Online launches Disney.com. Radio Disney, a live 24-hour music-intensive radio network, debuts.
1998:
ESPN Magazine debuts, Disneys Animal Kingdom opens at Walt Disney World Resort, Disney Magic cruise ship departs on its inaugural cruise.
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Competitors
Competitors of Disney are: 1. 2. 3. 4. News Corporation, Viacom, NBC Universal Times Warner
They compete with Disney in all the five branches. However, Disney uses marketing more focused in the family, which calls for the parents, the ones that often has the power of purchase decision; while the others call customers individually. Hence, Disney has a marketing advantage while appealing for not only children but also for the parents. But, as kids grow, establish their tastes, and have their decisions taken into consideration by the parents while purchasing, Disney might lose market for being associated to younger children and family; while its competitors gain advantage for that reason. Constantly making parents aware and comfortable with Disney goods and services, as well as their way of advertising, in order to reach the ones that have the purchasing power, is the marketing objective of The Walt Disney Company.
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1. EXTERNAL FACTOR EVALUSTION (EFE ) MATRIX. 2. COPMETITIVE PROFILE MATRIX (CPM) 3. INTERNAL FACTOR EVALUATION(IFE) MATRIX
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Weight
Rating
Score
0.09
0.36
THREATS
1. Lasting economic recession leading to slow growth rate. 2. Park and Resorts Divisions success is unpredictable because of exchange rate fluctuations; travel industry trends; amount of available leisure time; oil and transportation prices; and weather patterns and seasonality. 3. Changes in technology leads customers to stream online instead of buying DVD. 4. Online streaming makes Disney vulnerable to piracy and violation of its intellectual property. 5. High unemployment rate 6. Retail distribution business is influenced by seasonal consumer purchasing behavior and by the timing and performance of animated theatrical release. 7. Increase in labor cost which will have a noticed impact in Walt- Disney expenses due to their large amount of employees.
0.08 0.1
3 4
0.24 0.4
0.07
0.21
2 2 4
0.06
0.12
TOTAL
1.00
3.29 30
critical success factor Advertising Technology Management Financial position Customer loyalty Global expansion Market share Company Image Production capacity
Weight 0.12 0.09 0.09 0.11 0.12 0.12 0.11 0.12 0.12
Walt Disney Rating Score 4 0.48 3 0.27 3 0.27 4 0.44 4 0.48 4 0.48 3 0.33 4 0.48 3 0.36
Time Warner Rating Score 4 0.48 4 0.36 3 0.27 4 0.44 4 0.48 4 0.48 4 0.44 3 0.36 3 0.36
Totals
3.59
3.67
2.77
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Weight
Rating
Score
0.08
0.32
WEAKNESSES
1. Studio entertainment and Disney consumer product divisions have been experiencing declining revenue for the last few years. 2. Disney has a narrow target market. 3. Disney as such a diversify product range that it can reduce efficiency and lead to a lack of strategic focus. 4. High cost of entertainment production. 5. High employee turnover. 6. Costs of operation are high. 7. Walt Disneys Park and Resorts are not easily accessible which leads people to associate Disney World with a costly trip. 32 0.04 0.08 0.07 2 1 1 0.08 0.08 0.07 0.04 0.04 0.07 2 2 2 0.08 0.08 0.14 0.09 1 0.09
TOTAL
1.00
2.79
1. SWOT MATRIX 2. STRATEGIC POSITION & ACTION EVALUATION (SPACE) MATRIX 3. BOSTON CONSULTING GROUP (BCG ) MATRIX 4. INTERNAL EXTERNAL (IE) MATRIX 5. GRAND STRATEGIC MATRIX
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SWOT MATRIX
34
STRENGTHS
amusement company in the world.
WEAKNESSES
Entertainment and Disney Consumer Products divisions have been experiencing declining revenue for the last 3 years. Disney as a market. narrow target
5. Strong advertising.
OPPORTUNITIES
1. Opportunity to build & renovate attractions in Park and Resorts division to increase in profit. Growth from cable and satellite operators creating even more potential for Disney to make money with their network. Target new costumers group. Prospect to build more theme park and resorts worldwide. Openings in other areas of the travel business. Opportunity to invest in building theme parks to satisfy the increase in guest spending, theme park attendance, and hotel occupancy. 4. 3. 1.
SO-STRATEGIES
The park & resorts division is experiencing profit. Therefore the money could be used to innovate some attraction. (O1, S1, S2) Sell Disney products at more places at not only Disney stores. Especially with Disneys with highly recognized characters by children.(02, S2, S3, S4) Build more accessible resorts internationally since there is an increase in guest spending, theme park attendance and hotel occupancy. (O4, O5, O6, S1, S2) Better advertise of other parks of Walt Disney world such as EPCOT resort, in order to break the reputation that Disney is only a magic kingdom and appeals to children. (S5, O3). 1.
WOSTRATEGIES
Create block buster motion picture movies with the 3D option, which is the new trend in movie theaters. (W1, O3) Design parks and resorts with a new modern strategy, which will find a better balance between ages.(W2, O3, W3)
2.
2.
2.
3. 4.
5.
6.
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THREATS
ST- STRATEGIES
WT-STRATEGIES
1.
Lasting economic recession leading to slow growth rate. Park and Resorts Divisions success is unpredictable because of exchange rate fluctuations; travel industry trends; amount of available leisure time; oil and transportation prices; and weather patterns and seasonality. Changes in technology leads customers to stream online instead of buying DVD. Online streaming makes Disney vulnerable to piracy and violation of its intellectual property.
1. Offer lower fees for entrance into 1. Build an indoor park and resort
theme parks and discounts on onsite hotel prices. (T2, T1, S1) on the north east side United States in order to be more accessible and to prevent closure with unpredictability of weather.(W4, T1)
2.
3.
4.
RATING
6 4 4 2 16 4
RATING
-6 -1 -1 -5 -13 -3.25
RATING
6 6 3 6 21 5.25
RATING
-1 -1 -3 -3
-8 -2
CALCULATION
FP average is = 4 IP average is = 5.25 SP average is = -3.25 CP average is = -2
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Strategies:
Market Development Market Penetration Product Development Forward Integration Backward Integration Horizontal Integration Related Diversification Unrelated Diversification
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IFE Total weight scores 3.0 to 4.0 2.0 to2.99 Strong 1.0 to 1.99 4.0 EFE Total Weight scores Medium 2.0 to2.99 High 3.0 to 4.0 3.0 2.79 Average Weak
2.01.0
3.29 3.0
2.0
This position described on grows and build. This position Intensive (market penetration, market development and product development) or integrative (backward integration, forward integration, and horizontal integration) strategies.
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Walt Disney located in Quadrant 1 of the grand strategy matrix are in an excellent strategic position. For these Walt Disney continued concentration on current markets (market penetration and market development) & products (product development) is an appropriate strategy. Walt Disney has excessive resources so backward, forward or horizontal integration are effective strategies. Walt Disney can afford take advantage of external opportunities in several areas. They can take risks aggressively when necessary.
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STRATEGIC ALTERNAIVE
Expand parks & resorts world wide Improve products to target young costumer as well as older one.
Weight
AS
TAS
AS
TAS
0.09
0.27
0.27
4 4
0 0.4 0.2
3 -
0.24 0 0
0.08 0.07
4 -
0.32 0
0.28
THREATS:
1. Lasting economic recession leading to slow growth rate. 2. Park and Resorts Divisions success is unpredictable because of exchange rate fluctuations; travel industry trends; amount of available leisure time; oil and transportation prices; and weather patterns and seasonality. 3. Changes in technology lead customers to 0.08 0.06 4 0.32 1 0.08 -
0.1
0.1
0 43
stream online instead of buying DVD. 4. Online streaming makes Disney vulnerable to piracy and violation of its intellectual property. 5.High unemployment rate 6. Retail distribution business is influenced by seasonal consumer purchasing behavior and by the timing and performance of animated theatrical release. 7. Increase in labor cost which will have a noticed impact in Walt- Disney expenses due to their large amount of employees.
0 -
2 2
0.14 0 0.2
0.06
0.12
Internal: STRENGTHS:
1. One of the most familiar an amusement 0.09 company in the world. 0.07 2. Strong advertising. 3. Wide and unique portfolio. 4. Innovative entertainment business. 5.Strong customer service 0.1 0.06 0.04 4 4 4 4 3 0.36 0.28 4 4 4 4 4 0.2 0.36 0.28
0.4 0.24 0
6.Strong Media Networks and Broadcasting 0.05 division. 7. Disney owns a range of companies, which permits them to come up with high profits from different industry division such as Media Networks and Broadcasting, Park and Resorts, Studio Entertainment and Disney Consumer Products. 8.Disney is the largest worldwide licensor of character-based merchandise and producer of childrens film-related products based on retail sales. 0.08
0.32
0.08
44
WEAKNESSES:
1. Studio entertainment and Disney consumer product divisions have been experiencing declining revenue for the last few years. 2. Disney has a narrow target market. 3. Disney as such a diversify product range that it can reduce efficiency and lead to a lack of strategic focus. 4. High cost of entertainment production. 5. High employee turnover. 6. Costs of operation are high. 7. Walt Disneys Park and Resorts are not easily accessible which leads people to associate Disney World with a costly trip. 0.09 2 0.18 2 0.18
0.04 0.04
2 2
0.08 0.08
1 -
0.04 0
1 2 1 1
0 0.14
Total:
3.77
3.37
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INCOME STATEMENT
Year 2009
$ 36149.00 $ (30452.000) $(492.00 $342.00 $(466.00) $577.00 $5,658.00 $(2,049.00) $(302.00) $3,307.0 -----$3,307.0
$1.76
$1.76
$1.78
$1.78
$1,875.00 $1,856.00
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BALANCE SHEET
$1206.00 $2112.00
Accounts receivable Merchandise .inventory Television Cost Deferred Income Taxes Other current Assets Total Current Assets Film & television cost Investments Park, resorts & other $32475.00 property, at attractions, building & equipment Accumulated $(17395.00) depreciation
$4854.00 $1271.00 $631.00 $1140.00 $576.00 $11,889.00 $5125.00 $2554.00 Total Current Liabilities Borrowings Deferred Income taxes Other long-term liabilities $8934.00 $11495.00 $1819.00 $5444.00
$1691.00
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shares issued.
$1350.00 $1167.00 $2247.00 $21683.00 $2022.00 2.6 billion shares Retained Earning Accumulated other comprehensive $27038.00 $31033.00 $(1644.00) $56427.00
Total Assets:
$63,117.00
Treasury Stocks at cost 781.7 million shares at october3, 2009 & 777.1 million shares at September 27, 2008. Total Liabilities
$(22693.00)
$63,117.00
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2008
Leverage Ratios
Debt-to-Total Assets Ratio Debt-to-equity Ratio Long-term debt-to-equity Ratio Times-Interest-earned Ratio 1 1.12 0.1 -12.14 1 1.93 0.12 -14.13
Activity Ratios
Inventory Turns Fixed Assets Turnover Total Assets Turnover 28.44 1.11 0.57 33.67 1.2 0.61
Profitability Ratios
Gross Profit margins Operating Profit Margin Net Profit Margin Return on Total Assets Return on Stockholders equity Earnings per share Price-earnings Ratio 1.84 0.16 0.09 0.05 0.06 1.78 15.31 -4.48% -25.30% 1.8 0.2 0.12 0.07 0.14 2.34 12.61 7.66% -5.55%
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IMPLEMENTATION STAGE
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1. The annual objectives and policies proposed consist of identifying opportunities for acquisition or entering into a new market, creating a project team to capture the opportunity, and moving into operations management among various time intervals. 2. Allow the SBUs freedom for creativity while maintaining functional efficiencies 3. Maintain aggressive profit growth by funding projects with the greatest NPV It is recommended that the project coordination team be developed to maintain projectmanagement best practices without being overly intrusive to the projects objectives. Also,acquisitions must be monitored as well since these will represent a bulk of the companysgrowth strategy. Subsequently, change management practices must be adhered to during such integrations. Disney must also be cognizant of the corporate culture that is subject to anyacquisition to ensure that integration does not come with insurmountable resistance.
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STRATEGIES
1. THE DREAMER
The place where dreams were dreamed, ideas were spun out, no restrictions, no limits - just every sort of outrageous creative hunch or idea was freely developed This is where the visionary big picture is produced. With no boundaries, limitations or restraint. The dreamer position typically sees the ideal future. Ask yourself "What do customers really want, in an ideal world?" Then see it. The three roles (Dreamer, and the two mentioned in the next two items) can all be within the same person, by the way. Its similar to Edward De Bonos Six Thinking Hats, if youve ever used that approach to creativity wearing a different hat means adopting that position and outlook for a while. So, youd say to yourself, For the next hour I am going to dream up what we want for our customers and picture it in as much details as possible. This can actually be a group rather than just you Convene a dreamer group to come up with what Ken Blanchard (One Minute Manager author) would call the ideal organization for your customer.
2. THE REALIST
This is the second role within the Disney Creativity Strategy, where the plans are organized, and evaluated to determine what is realistic. Think constructively and devise an action plan. Establish time frames and milestones for progress. Make sure it can be initiated and maintained by the appropriate person or group. Ask yourself "What will I do to make these plans a reality?" Again, this could be a group meeting rather than an individual. In fact, it could be the same group, with a different brief The Dreamer Group becomes The Realist Group.
3. THE CRITIC
The third role in the Disney Creativity Strategy, according to Robert Dilts. This is where you test the plan, look for problems, difficulties and unintended consequences. Think of what could go wrong, what is missing, what the spins-offs will be. Remember that a critic is someone who should evaluate - not just point out what is wrong. Ask yourself "What could go wrong and how do we adjust to accommodate that?
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RECOMMENDATIONS
In the next three years Walt Disney should.. Build an indoor theme Park and Resort in New York. Improve advertising to promote entertainment which target a more mature audience. Remove the Interactive Media Segment. Remodel and build new attractions in every Park and Resorts to stay appealing to our customers.
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CONCLUSION
Walt Disney has definitely worked its way into the hearts of almost everyone who watches it. The Disney company has managed to bring fantasies to life on the movie screen for over 80 years. Walt Disney Studios is still a strong, American icon thanks to its innovation, fantasy, and artistic style.
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