Introduction
The Walt Disney Company (TWDC), or simply Disney, is a multinational entertainment and mass media conglomerate that was established in Los Angeles in 1923. According to the company’s website, TWDC seeks to entertain, inspire, and impact people through the power of stories (The Walt Disney Company, n.d.). At the same time, Disney continuously searches for ways to grow profitably and sets goals that will lead the company in that direction. For one, as per TWDC’s 2021 report, the company’s further growth plan includes accelerating expansion in its leading market, North America, launching new franchises, and continuing to extend its streaming platforms influence (The Walt Disney Company, 2021). Moreover, Disney aims to broaden its global reach through alliances with other companies while increasing stakeholder returns. In addition to that, The Walt Disney Company (2020) emphasized that it has a long-term vision and specific goals when it comes to sustainability policy. Seeing how the entertainment market today is more large and attractive than ever and how it continues to grow globally, it seems that further success for Disney is almost ensured.
The Walt Disney Company’s Objectives
For each group of operational steps in four areas – financial, customer, internal business project, and learning and growth objectives – there will be a team of specialists to control the process of goal achievement. According to Jefferson and Quadrani (2022), in 2022’s second fiscal quarter, Disney’s revenues grew by 23%, and in the past six months – by 29%. This figure seems to be related to the world slowly starting to recover from the effects of the global pandemic, which, for instance, explains the brilliant financial performance of Disney’s theme parks in 2022. Moreover, Disney’s 100+ additional store locations that were opened at Target all over North America by the end of 2021 are doing exceptionally well too. It reflects the company’s confidence in gaining additional market share while strengthening its influence in its most heavily penetrated market.
However, apart from continuing to target North America, TWDC needs to consider the better establishment of its presence elsewhere. It will allow the company to increase its customer base and celebrate its unique culture, which promotes diversity and inclusion all over the world. For this plan to be successfully brought to life, the company is to focus on improving its internal business processes. It includes a decrease in the number of production errors and more efficient use of technology for information storage.
Furthermore, the pandemic has contributed to particular changes in customer behavior, and TWDC, like any other organization, has to be prepared to adapt the business to its short-term and long-term effects. The current times demand that companies continue to meet their customers’ needs while ensuring that people’s engagement with the brand happens in whichever way it is convenient for them. For Disney, innovations in this field are to include the continuation of consumer experience elevation, the creation of new online platforms, and the expansion of digital relationships with the customer base.
Conclusion
Finally, Disney has recently announced that it strives to be a resource-efficient company – that is, it cares about the environment and gives back to the planet. More investments will need to be made in various sustainability policies and operations for the company to actually establish itself as a leader in this area. TWDC’s efforts include its commitment to reaching net-zero greenhouse gas emissions from its direct operations, producing zero-carbon electricity, and implementing localized water stewardship programs by 2030 (The Walt Disney Company, 2021). Disney realizes that, as an organization with a unique position and the ability to make a long-lasting impact, it is responsible for addressing critical issues regarding the planet which sustains humankind. In this way, Disney drives the innovation that allows people to give to the environment more than they take.
References
Jefferson, D., & Quadrani, A. (2022). The Walt Disney Company reports the second quarter and six months earnings for fiscal 2022. The Walt Disney Company.
The Walt Disney Company. (n.d.). About the Walt Disney Company.
The Walt Disney Company. (2020). The Walt Disney Company announces strategic reorganization of its media and entertainment businesses.
The Walt Disney Company (2021). 2021 Corporate Social Responsibility report [PDF file]. Web.