“Traditionally, the term management refers to the activities (and often the group of people) involved in the four general functions: planning, organizing, leading and coordinating of resources” (McNamara, 2011). Strategic Management is the processes by which managers identify and describe a set of decisions to enable their companies have a competitive advantage (Jeyarathmm, 2008, pp. 10-11). It involves setting objectives and attaining them.
One major role of strategic management is to ensure that goals and objectives of a company are met ( (Pratali, 2003, pp. 18-31). This paper examines the vision and mission of Walt Disney Company. It also analyzes the extent to which its goals and objectives meet the needs of the major stakeholders. Information on this company will be obtained from its website and annual reports. The reason for choosing Walt Disney Company is because it has a clear mission and vision. This enables various stakeholders to easily understand the operations of the company.
The Mission and Vision of Walt Disney
A mission statement defines the nature of operations of an organization (Ingenhoff & Fuhrer, 2010, pp. 83-101). For example, it shows whether a given firm is product or service oriented. On the other hand, a vision statement states the long term aspirations of a company. The mission statement of Walt Disney is “to produce unparalleled entertainment experiences based on the rich legacy of quality and creative content and exceptional storytelling” (Walt Disney, 2011). In order to achieve this mission, the company runs four business segments which include, “media networks, studio entertainment, consumer products, parks and resorts” (Walt Disney, 2011). Through these segments, the company offers its customers a variety of services namely, hospitality, advertisement and entertainment.
The vision of Walt Disney is “to be the world’s premier entertainment company” (Walt Disney, 2011). The company aims at being the best in the world of entertainment by enhancing the quality of its products and efficiency in provision of services to the customers. The company has set goals and objectives to enable it realize its mission and vision.
Goals and Objectives
Some of Walt Disney’s objectives include the following. First, Walt Disney focuses on producing superior family entertainment products which can be enjoyed globally. Second, the company aims at making use of innovative technology to enhance the quality of its stories and films. Last but most importantly, it aims at expanding its market share internationally.
Relevance of Disney’s Mission, Vision, Goals and Objectives to its Stakeholders
The stakeholders of Walt Disney include employees, customers, shareholders, and the executive board. These individuals have diverse needs which are addressed in the company’s vision and mission statements, as well as, in its goals and objectives. The company operates a consortium of businesses. This has enabled it to satisfy its customers’ demand for high quality entertainment. By embracing innovative technology, the company has enabled its employees to grasp new skills and knowledge in the entertainment industry. Moreover, sophisticated media technology has enabled the customers to access a wide range of entertainment services through a variety of devices.
From the above analysis of Walt Disney, it can be concluded that the success of a company depends on its vision and mission. Therefore, companies should develop proper goals and objectives which can enable them to achieve profitability and good reputation in a given industry.
Ingenhoff, D., & Fuhrer, T. (2010). Positioning and Differentiation by using Brand Personality Attributes: Do Mission and Vision Statements Contribute to Building a Unique Corporate Identity? International Journal of Corporate Communications, 15(1), 83-101.
Jeyarathmm, M. (2008). Strategic Management. Mumbai: Global Media.
McNamara, C. (2011). Basic Description of Strategic Planning: Including Key Terms to Know. Web.
Pratali, P. (2003). Strategic Management of Technological Innovations in the Small to Medium Enterprise. European Journal of Innovation Management, 6(1), 18-31.
Walt Disney. (2011). Annual Reports: FY 2011. Web.