The Walt Disney Company was founded in 1923 by Walt Disney and Roy. The company is famous for film making, cartoons and animations, broad casting television network, publishing, merchandizing, hotels and entertainment theme parks. In the decades following Walt Disney’s death, the leaders of the Magic Kingdom (Disney) shunned innovation and shut themselves away from their audience. The company, this assignment copied from vu solutions.com that had produced Fantasia, Snow White, and a string of other brilliant animated films, was under-licensing its cartoon characters, underutilizing its film making capabilities, and under pricing its theme parks when Michael Eisner was appointed Chairman and CEO of Disney.
After analyzing the situation, Michael Eisner devised a plan that would restore the openness to change that had brought Disney such great success. Rather than attempt to change Disney’s corporate culture, which centered on a strong creative leader, he stepped right into Walt’s shoes. This approach was risky, but it was exactly what Disney needed.
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Eisner became not a reincarnation of Walt, but a living, walking embodiment of all that Walt stood for. He set a creative example for his staff, suggesting ideas for Disney ad copy, new health-food restaurants, and the next Disney comedy. He even appeared on a weekly TV show the company launched.
Eisner used a number of tactics to encourage, even induce, creativity in others. To kick off planning for the $2 billion Euro Disneyland, he met with 12 of world’s most respected architects in a this assignment copied from vu solutions dot com wildly creative session, which became so heated that two architects almost came to blows. “I’ll use meetings, company anniversaries, anything to create some kind of catalyst to get us all going.” he said.
Instilling the creative spirit throughout the Disney organization became one of Eisner’s top priorities. As part of their management training, employees develop innovative ideas and practice presenting them to top management. He also established an “I Have an Idea” program to reward employees who submit original creative ideas (with checks of up to $10,000).
Eisner guided the revival of Disney’s fortunes by communicating clear strategic goals to his staff, including an ambitious growth plan. Although Disney World at Orlando was already on its way to becoming what it is today—the most popular vacation destination in the United States. Eisner ordered an ambitious $1 billion hotel expansion plan. Disney has doubled its room count to over 20,000, becoming a midsize hotel group on a par with the Ritz Carlton chain.
Another Eisner priority was revitalizing Disney’s movie business, the creativity of its theme parks, its licensing activities, and its retail stores. By maintaining tight budgets, hiring talented but inexpensive actors, and working with adventurous scripts, Eisner and his team transformed Walt Disney Studios from a break-even operation to a dominant force in U.S. moviemaking.
Michael Eisner has proven that creativity and innovation pay. From 1984 to 1990, Disney’s sales increased from under $1.7 billion to more than $5.8 billion. With theme parks in Japan and this assignment copied from Pakistan largest educational website qundeel.com France, comic books in 12 languages, a chain of 100 Disney retail outlets in the United States and England, two book publishing groups, two film companies, and a record label—Eisner has revitalized Disney and transformed the Magic Kingdom into an entertainment empire.
What are the internal and external forces for change that rendered the old Disney company a creative, innovating and successful organization.
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