Walt Disney Company

The Walt Disney Company is the direct successor to the business founded by Walt Disney in Hollywood in the 1920s (Moskowitz, Katz, and Levering, 1985). In 1991, Disney is (1) a major producer of motion pictures, (2) the owner and operator of a cable television channelThe Disney Channeland of a television stationKCALTV, (3) a producer and marketer of video tapes, music tapes, music records, and publications, (4) a licenser of rights for merchandise production and marketing, (5) the owner and operator of major amusement theme parks in California and Florida, (6) a joint venturer in the ownership and operation of Euro Disneyland in France, and (7) a licenser of Tokyo Disneyland (Swort, 1991).

Walt Disney World in Florida includes the Magic Kingdom Theme Park, Epcot Center, and DisneyMGM Studios. Feature film, television, and video productions are produced under the Buena Vista, Touchstone, and Hollywood Pictures names. Disney merchandise is sold through both catalogs and Disney Stores retail outlets.

Theme parks and resorts contribute 48.8 percent of Disney's total revenues, while film operations contribute 39.8 percent, and consumer products and merchandise contribute the remaining 11.4 percent (Swort, 1991). The c

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dictate terms dictate terms 8. Degree of technological sophistication in industry: High _____X____________________________________ Very low 9. Rate of innovation in industry: Rapid _______X______________________________ Almost none 10. General level of management capability: Many _______X__________________________________ Very few very capable managers capable managers (Source for analytical structure: Rowe, Mason, and Dickel, 1986 ============================================================= DISNEY'S STRATEGY The Disney organization pursues its goals and objectives through a practice of creative innovation. Alternatively, the firm may apply this creative innovation through (a) existing operations, or (b) through new operations. The company employs a combination of whollyowned subsidiaries, joint venture agreements, and licensing arrangements to pursue its objectives. All three of these forms of operation are employed by the company in its theme park operations. Disneyland in California, and Walt Disney World in Florida are whollyowned subsidiaries, while Euro Disneyland is a joint venture operation in which The Walt Disney
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