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Business 12th Edition by William Pride,Robert Hughes,Jack Kapoor
Edition 12ISBN: 978-1133595854Business 12th Edition by William Pride,Robert Hughes,Jack Kapoor
Edition 12ISBN: 978-1133595854 Exercise 2
The company that brought Mickey and Minnie Mouse into the public eye has been entertaining families for 90 years. Although animation was the Walt Disney Company's original focus, its entertainment empire now spans four main business groups: studio entertainment (including movies, stage shows, and recorded music), parks and resorts (such as Disney World and the Disney Cruise Line), consumer products (toys, books, and other merchandise), and media (including broadcast television, cable television, and online media). Disney has its headquarters in Burbank, California, but its operations are spread around the world, with $41 billion in annual revenues and a workforce of 156,000 employees.
Over the years, Disney has acquired other businesses and started new businesses to further strengthen its competitive position and its profits. It owns Pixar, the movie studio responsible for Toy Story and many other animated films, and it established Touchstone Pictures to produce and distribute movies for wider audiences. It acquired the AB C television networks and the ESPN sports channels as part of its drive for global growth in multiple media. To expand into interactive media for children, Disney bought the popular Club Penguin site and began creating online and video games, many featuring its popular movie and television characters.
Founder Walt Disney didn't invent the theme park, but he did transform the industry with the 1955 opening of Disneyland in California. The magic continued with the 1971 opening of Disney World in Florida. Both theme parks were drawing crowds from every continent when the company opened Tokyo Disneyland in 1983, at the height of the Japanese economic boom. Later, it worked with international partners to create Disneyland Paris and Hong Kong Disneyland. Shanghai Disney Resort will be the next to open, the result of a $3.7 billion joint business venture with a Chinese company. In all, more than 120 million people visit Disney theme parks and resorts over the course of one year.
Disney sees great growth potential in China. Thanks to economic and political changes, Chinese consumers have more disposable income than ever before and more opportunities to exercise their higher buying power. Box-office receipts from Chinese movie theaters are growing at double-digit rates, and many of Disney's Hollywood blockbusters have also been big hits in China. At the same time, competition to get movies into Chinese theaters is enormous, because the government limits the number of foreign movies that can be distributed nationwide. With an eye toward the future, Disney worked with a local partner to co- produce Iron Man 3 with a Chinese plot twist. It has also been lending its movie-making expertise to help develop the Chinese animation industry.
All these years of serving customers with a smile have given Disney considerable insight into how to meet the needs of people of all ages. The company set up the Disney Institute in 1986 to teach businesses, schools, hospitals, and other organizations how to deliver good customer service with the famous Disney touch. Its experts have trained National Football League staff members in preparation for Super Bowl events and given Chevrolet dealer employees tips about working with car buyers. When Florida Hospital asked for help in improving patient satisfaction, Disney experts conducted studies and recommended a number of steps, such as having a friendly greeter to put young patients at ease and replacing the glare of fluorescent bulbs with recessed lighting. These and other changes helped push the hospital's patient satisfaction scores into the top 10 percent across America. The Disney Institute's revenues have doubled over the past few years and are yet another reason for the company's profit momentum
Questions
What is Disney's competitive situation, and what are the implications for its future expansion and profitability?
Over the years, Disney has acquired other businesses and started new businesses to further strengthen its competitive position and its profits. It owns Pixar, the movie studio responsible for Toy Story and many other animated films, and it established Touchstone Pictures to produce and distribute movies for wider audiences. It acquired the AB C television networks and the ESPN sports channels as part of its drive for global growth in multiple media. To expand into interactive media for children, Disney bought the popular Club Penguin site and began creating online and video games, many featuring its popular movie and television characters.
Founder Walt Disney didn't invent the theme park, but he did transform the industry with the 1955 opening of Disneyland in California. The magic continued with the 1971 opening of Disney World in Florida. Both theme parks were drawing crowds from every continent when the company opened Tokyo Disneyland in 1983, at the height of the Japanese economic boom. Later, it worked with international partners to create Disneyland Paris and Hong Kong Disneyland. Shanghai Disney Resort will be the next to open, the result of a $3.7 billion joint business venture with a Chinese company. In all, more than 120 million people visit Disney theme parks and resorts over the course of one year.
Disney sees great growth potential in China. Thanks to economic and political changes, Chinese consumers have more disposable income than ever before and more opportunities to exercise their higher buying power. Box-office receipts from Chinese movie theaters are growing at double-digit rates, and many of Disney's Hollywood blockbusters have also been big hits in China. At the same time, competition to get movies into Chinese theaters is enormous, because the government limits the number of foreign movies that can be distributed nationwide. With an eye toward the future, Disney worked with a local partner to co- produce Iron Man 3 with a Chinese plot twist. It has also been lending its movie-making expertise to help develop the Chinese animation industry.
All these years of serving customers with a smile have given Disney considerable insight into how to meet the needs of people of all ages. The company set up the Disney Institute in 1986 to teach businesses, schools, hospitals, and other organizations how to deliver good customer service with the famous Disney touch. Its experts have trained National Football League staff members in preparation for Super Bowl events and given Chevrolet dealer employees tips about working with car buyers. When Florida Hospital asked for help in improving patient satisfaction, Disney experts conducted studies and recommended a number of steps, such as having a friendly greeter to put young patients at ease and replacing the glare of fluorescent bulbs with recessed lighting. These and other changes helped push the hospital's patient satisfaction scores into the top 10 percent across America. The Disney Institute's revenues have doubled over the past few years and are yet another reason for the company's profit momentum
Questions
What is Disney's competitive situation, and what are the implications for its future expansion and profitability?
Explanation
Verified
Verified
WD has created world famous cartoons like Mickey Mouse, Donald Duck and so on. For the past nine decades, the company has diversified into various verticals of the entertainment industry.
This was done by starting various channels like the Disney Channel and so on. The company has also bought sports entertainment channel ESPN. It started the famous theme park - Disneyland across the select locations of the world.
The company has revenues totaling $42 billion with a net profit of around $5 billion. The company does have competitors but not as organized and as large as WD. In the past decade, the company has expanded with acquisitions and self-establishments. The future for the group company seems bright as most of its offerings are very relevant and enjoyed by the consumers in the present day.
As far as profitability is concerned, it would continue to remain the same. The company would expand across various locations of the world
This was done by starting various channels like the Disney Channel and so on. The company has also bought sports entertainment channel ESPN. It started the famous theme park - Disneyland across the select locations of the world.
The company has revenues totaling $42 billion with a net profit of around $5 billion. The company does have competitors but not as organized and as large as WD. In the past decade, the company has expanded with acquisitions and self-establishments. The future for the group company seems bright as most of its offerings are very relevant and enjoyed by the consumers in the present day.
As far as profitability is concerned, it would continue to remain the same. The company would expand across various locations of the world
Business 12th Edition by William Pride,Robert Hughes,Jack Kapoor
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