History of organization
The Walt Disney Company started off as a cartoon studio in 1923 and was established by Mr Walt Disney. In 1928, it released Steamboat Willie, featuring the appearance of Mickey Mouse, which received nine nominations for the Academy Award for Best Animated Short Film. In 1949, Walt Disney Music Company was formed, releasing various music records from its cartoons. Six years later, Disneyland, the first Disney Park, was opened in California. In 1983, the Disney channel began to broadcast 18 hours of programmes per day1.
The Walt Disney Company is the one of the world’s leading company in the media & entertainment industry. It has the largest and best-known studio in Hollywood, and was voted as the world’s most admired company in Entertainment2. It comprises of 5 entities3 as seen in Figure 1 below.
Figure 1: Walt Disney’s business entities
Management Team Composition
The company’s management team comprises of the corporate and the business units4. The corporate unit oversees the running of the Walt Disney Company in areas such as finance, security, and business development. On the other hand, the business unit comprises representatives from various subsidiary groups like ESPN, Disney Media, and Disney Parks and resorts.
Demographics of Key Leaders
Walt Elias Disney, Founder of the Walt Disney Company
Walt Disney was born in 1901 in Chicago. With his brother, Roy Disney, he was the co-founder of Walt Disney Productions. Disney went to McKinley High School in Chicago, where he learnt cartoon drawing and photography. He took art classes at the Chicago Art Institute. He then started off as a newspaper artist in Kansas City, in 1919. After the bankruptcy of his first business, he pooled money with his brother and moved to Hollywood and started Walt Disney studios. He passed away in 1966 due to lung cancer. 5
Bob Iger, CEO (2005-Present)
Robert A. Bob Iger was born in 1951 and is the current chairman and chief executive officer of The Walt Disney Company. He led the company to acquire Marvel Entertainment in 2009 and Lucasfilm in 2012, broadening the Disney Company's character franchises6. These influential leaders have played a significant role in shaping the success of Disney. Their actions and qualities, which contributed to Disney’s success, will be discussed in greater detail in the analysis of excellence section later in the report. 2. Industry Analysis
Various environmental forces often affect the business of an organization. Conducting an analysis of the media and entertainment industry not only allows one to gain a wider perspective of the macro trends and forces, which are likely to make their presence felt in the near future, but also to gain an insight into Disney’s position within the industry with regards to the strength of its management practices.
The SWOT Analysis involves careful monitoring of an industry’s internal and external environments to detect early signs of opportunities and threats, which could possibly influence the plans of firms in the industry.
1) There is a vast customer base in the media and entertainment industry is continuously expanding7. This gives firms in the industry an opportunity to further expand their works to capture a larger customer base.
2)Contrary to the pessimistic beliefs, the media and entertainment industry is not declining and is instead, upsurging. 8 There has been increasing amount of content and revenue at an astounding rate and as such, different segments in the industry have shown significant growth over the last decade. There are also greater options and opportunities for consumers, creators, smart businesses and artists.
3)Increasing technological innovations are complementary to the sector’s growth as such technology is used to improve the quality of firms’ output9. In particular, digitization, the process...