I have chosen in this report the Walt Disney Company. In this report I have covered the strategic planning and implementation procedures of that company in specific and the overall strategic planning and implementation procedures in general. The development of a strategy can be done by structured strategic planning, by having a strategic leadership and by practicing emergent strategy systems. It’s very important for any organisation to have a vision and missions so as to effectively follow the plans to obtain the desired results, also every company should keep in mind the cultural, social, ethical and environmental factors while designing their respective strategies. Every organisation should have strategic objectives and thrive towards fulfilling them; it’s worth noting that all the stakeholders are to be informed about the organisation’s activities so as to keep their confidence in the organisation intact. The other important thing that I have mentioned in this report is; having an effective monitoring and control systems so as to check the implementation of the plans, which can be used to take any corrective measures if any deviations occur from the originally planned strategy.
Strategy can be described as the identification of the purpose of the organisation and the plans and actions to achieve that purpose. There may be various considerations which an organisation should take into consideration while formulating its strategy. Some of the factors can be the resources available with it (internal resources), external environment in which it operates and if it can add any value to its own through innovation or core competencies. Strategic implementation involves putting the strategies into action.
As I have taken Walt Disney Company for this assignment, I would like to describe in few words about Walt Disney Company.
The Walt Disney Company is co founded by Walt Disney and his brother Roy in 1923. The company owns many studios, radio stations, cable television channels such as ESPN(in which it owns about 80%),is a major stakeholder in the ABC television network, it also owns many theme based parks called as Walt Disney parks and resorts, often known as Disneyland. The company is known for making high quality animation movies which appeal to global audience. Its annual revenues in the recent years have been close to 35 billion dollars.
TASK 1: CONSTRUCT A MANAGEMENT STRATEGY
1. a)Explain the reason for your choice of organisation used in this assignment.
I have chosen to take up the Walt Disney Company for this assignment. The reason I choose this organisation is because once I happened to read an article on the Walt Disney Company and its progression from its establishment till the present years, I was so fascinated by its sheer pursuance and desire to be the number one animation company in spite of many competitors who have risen in the recent years.
1.b) Develop criteria for reviewing potential options.
It’s very important to pick up the potential options for formulating a strategy based on certain criteria, because the basis on which these options are picked can make or break the company’s ambitions and objectives. The criteria for reviewing the potential options for Walt Disney Company are: * Low production costs can substantially increase the chance of making more movies. * Availability of trained professionals in web animation,3D etc..,could be an added advantage during the review of potential options * Favourable political and economic conditions can be considered while establishing more studios across the globe. * Experienced people in the organisation who have previously dealt with formulating and implementing good strategies can be of extreme use to the organisation. * Individuals who are...