The corporate strategy should include some questions like “would it work? ” which means suitability, “can it be made to work? ” which is feasibility, or “will they work it? ” which means acceptability. Of course, Walt Disney Company has a favorable answer to all these questions. It is noticeable that Disney Difference shows also an advantage that the magic world gained through the years. They manage to sustain their competitive advantage through innovation, high quality of the services and entertainment they offer, through their buyer volume and many other factors.
They also have a clear strategy in order to increase the values background. Based on the functional strategy, stays each department which attempts to do its part in meeting overall corporate objectives. Whatever Disney makes or creates for its customers they want to give the most quality creative content and exceptional storytelling. Corporate strategy decisions include mergers and acquisitions, new ventures, allocation of corporate resources . By using the corporate strategy it sets a mission to make the magic happen from books, toys, and games to online media, soundtracks, and DVD’s and making it an real experience.
According to aggressive strategy it is complete in its business because Disney provides more than one product to satisfy all ages and group of its customers from theme parks to its on channel on television. Its functional strategy provides an assortment of functional departments to support its competitive strategy by being in same city as its biggest competition universal studios are in and providing lower prices on their theme parks and products. Other than that Disney also used business strategy to achieve and differ from others.
The definition of corporate and business strategy is not a separation but rather a hierarchy. If a firm is successful in executing its business strategy, it will be triumphant in the overall corporate strategy like how Disney achieve. In this hierarchy, the next level is functional strategy, which identifies functional decisions for R&D, personnel, finance, production, and sales and marketing. As the firm gets larger, the distinction between functional and business tactic grows and achieve superior place. ) What challenges do you think Disney might face in doing business in Russia? How could Iger and his top management team use planning to best prepare for those challenges? A challenge for Walt Disney Co. would be the unexploited and Low economic situations and to control and large number of audience in Russia. To face the challenges in Russia Disney top management team need to create a goal to become successful. They need to create a short term and long term plan on this project of launching a Disney channel.
Instead of traditional goal setting this company needs to use management by objectives, a process of setting mutually agreed upon goals and using those goals to evaluate employee performance. Disney need to apply a strategy of benchmarking which is the search of the best practices among competitors or no competitors that lead to their superior performance. In order to come in front they should have a good planning process. Disney ,they should focus on the objectives they want to achieve and also on the target market.
Disney , create a real plan, establish the specific objectives and the main resources they need. Thirdly Disney , they should analyze the alternatives, list and size up possible actions and finally implement the plan and evaluate the results. Other than that Disney also several challenges that Disney might face in doing business in Russia, especially from oppositions parties, custom regulations, piracy, media inflation, breadth of the market and tough competition resulting from increased variety of product including local productions.
Disney also faces with Russia political transparency, and the ethic. So, Iger and his top management team must to investigate the necessity and the sensitiveness in doing business in Russia . Iger had recognized the importance of improving the company vast media contention different platform, but the effectiveness of the strategic approach is still ambiguity in the long term. Disney has to know how to stabilize and reduce uncertainty of risk in manage all the business around the economic situation to ensure that economic downturn not adversely impact on the performance and ffect the profit drop. Iger use the opportunities that they have in media market in order to expand Disney’s product brand and strengthen the authority of the company business, and also improve the creativity and enrich the innovation the decision to give fund to build new themed area and assume that will increase the numbers of visitors maybe useless, the company should do the strategic analysis tonsure what actually be the cause of the decline of visitors.