The Organization’s Information
The mission of The Walt Disney Company is to entertain, inform, and inspire people around the globe through the power of unparalleled storytelling. In its vision to be one of the world’s leading producers and providers of entertainment and information, it has prided itself in having strong Leadership and upper management (Rothaermel, 2018). The unity between the Walt Disney Company and the alignment of the company’s vision and mission statements is on par with the way the strategic leadership over the years has brought up the company.
SWOT Analysis and Market Trend Research
Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive are their four strategic business units. Strong leadership that has provided a strong vision and strategic direction helping the company to adapt to the ever-changing environment (Disney, 2020). The Disney brand is a well-established name. Its acquisition-led strategy could lead to revenue losses. However, the company can capitalize on expansion and diversification to counter competition threats. Market analysis shows that the company has been diversifying into regions with low operation costs.
Project Objectives and Goals
The organization’s goals will be achieved through its financial, production, and marketing strategies. Its objectives of increasing productivity and expansion will foster a wide coverage, enabling it to reach many customers. In addition, as the company implements its diversifications strategies, it will develop culturally-diverse content, further improving its competitiveness (Disney, 2020). Disney aims to improve its customer interaction, a move that will aid in its quality entertainment goals. Talent management and strong leadership will enable the company to be culturally inclusive.
Measuring the Organization’s Success
The organizations’ success will be measured by its market position. This is influenced by how it meets the set objectives and their relation to company goals, mission, and vision (Disney, 2020). Productivity is one of the key measures which entail the number of products delivered to customers. The quality can be measured through customer reviews. By measuring the number of regions in which the company operates, its expansion can be measured. Disney will be considered successful if it has a diverse and culturally-inclusive workforce.
Value Addition to the Organization
This project is significantly valuable for the organization’s growth and sustainability. It provides valuable insight for leadership’s market analysis. From the SWOT analysis presented, the management can understand company strengths and capitalize on them while taking advantage of available opportunities for growth and expansion (Henry, 2021). The market research conducted reveals how external factors impact organizational performance and shows how current threats can be identified and mitigated. Essentially, corporate strategic management is made easier through internal and external market analyses conducted in this project.
Project Metrics, Timelines, and Responsible Parties
Project metrics are the elements that can be measured to determine the organization’s success. In this case, many factors can be measured including profitability, turnover, customer relations, affiliation, growth, and competition (Disney, 2020). The set timelines are useful for the management to analyze the rate at which the company is implementing the set strategies. The responsible individuals are tasked with implementing plans and following up on the organization’s performance to identify gaps and initiate solutions.
Potential risk factors
Although Disney has set objectives and plans of action, unforeseen events are likely to occur and hinder it from achieving its goals. Some of the risk factors include reduced productivity, low profitability, increased competition, low market growth rate, and the lack of diversity in its workforce. Due to these factors, the management needs to establish contingency plans to ensure that the company’s operations continue. Some events such as market dynamics, pandemics, and regulatory processes can significantly affect performance (Henry, 2021). Contingency plans ensure that companies are shielded from huge losses and are able to recover and grow after setbacks.
Contingency plan
Global pandemics can negatively affect business operations by limiting physical interactions. Since pandemics are unforeseen, Disney should capitalize on online business operations. Although most of its customers are online, the production is mainly done in physical workshops. This plan entails implementing virtual workshops whereby employees can work remotely. When pandemics strike, online operations increase in demand. This means that having a contingency plan will not only ensure recovery but also increase profitability margins (DuHadway et al., 2019). Consequently, the company will stay ahead of competitors before, during, and after pandemics.
The supply chain is an essential part of business operations. The disruptions in resource supply can hinder production activities, thereby limiting profitability. A viable contingency plan, in this case, would be the diversification of the supply chain. Having multiple suppliers will shield the company from losses arising from the lack of supplies (DuHadway et al., 2019). The company should also consider operating on a procure-to-pay basis to ensure that suppliers remain loyal and committed to their contracts. Lastly, the company should integrate risk management in supply chain decisions.
Global market conditions are volatile, significantly affecting business processes. If companies depend on a single product, they may be forced to close if that product’s market changes radically. Therefore, business leaders should focus on product diversification to take advantage of multiple market solutions (DuHadway et al., 2019). Disney can limit the risks associated with market volatility by investing in other areas apart from TV entertainment. For instance, it could sell mobile applications so that the changes in viewership do not render it useless.
Businesses have become increasingly competitive due to technological solutions and innovation. Managers should therefore devise mechanisms of ensuring they are not forced out of the market. This can be done by effective product differentiation and promotion (Henry, 2021). In Disney’s case, it can differentiate and promote its entertainment products to make them unique and appealing. This will counter competition from rival firms such as Fox. After thorough market research, the company can then tailor its promotion plans to address potential customer segments.
A company’s workforce determines production quality, quantity, marketing, and profitability. In the financial aspect, a company may lose a significant amount of revenue due to employee resignation. In any case, recruitment, training, and onboarding are capital-intensive (DuHadway et al., 2019). In some special cases, a company may be forced to outsource some of its operations to skilled professionals, an approach that is more expensive. Therefore, Disney should develop a contingency plan by keeping a database containing all potential applicants for easy recruitment when needed.
References
Disney – Leadership, History, Corporate Social Responsibility. (2020). The Walt Disney Company. Web.
DuHadway, S., Carnovale, S., & Hazen, B. (2019). Understanding risk management for intentional supply chain disruptions: Risk detection, risk mitigation, and risk recovery. Annals of Operations Research, 283(1), 179-198. Web.
Henry, A. (2021). Understanding strategic management. Oxford University Press.
Rothaermel, F. T. (2018). Strategic management (3rd ed.). McGraw Hill.