The Walt Disney Company’s international popularity is a result of effective strategic management that applies a mission statement and a vision statement suited to the entertainment, amusement park, and mass media industries. In theory, the corporate mission determines what the business organization does. On the other hand, the corporate vision sets the direction of growth and development, pertaining to a desired future condition of the business. This business analysis case of The Walt Disney Company involves a mission statement that focuses on industry leadership. Similarly, the company’s vision statement specifies leadership for the business. However, as in the case of many other companies, Disney can improve its corporate vision and mission statements to suit the needs of the business, and to address current trends affecting the industry. For example, a more specific vision can function as a better guide for strategic management for expanding Disneyland and other parks and resorts. Such improvements can open new opportunities for the corporation’s development.
Disney’s Official Statement. The Walt Disney Company has the following for its mission statement: “to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.” However, this corporate statement is actually a combination of Disney’s mission statement and vision statement. Technical conventions on writing missions and visions indicate that a corporate mission statement presents what the business does, and the corporate vision statement is a future-oriented business target. In this regard, The Walt Disney Company’s official corporate mission actually includes the company’s corporate vision, as well. In the following sections, the company’s official mission is dissected to determine the conglomerate’s corresponding corporate vision and corporate mission.
Disney’s Mission Statement
Based on the abovementioned official statement, and in considering conventions on writing corporate missions, The Walt Disney Company’s corporate mission statement is “Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.” Thus, Disney’s mission statement has the following main factors:
- Content, services, and consumer products
- Develop the most creative, innovative and profitable
- Entertainment experiences and related products in the world
The first factor in Disney’s corporate mission statement refers to the types of output that the company offers to its target customers. For example, content, services and consumer products are the broadest classifications that represent the conglomerate’s offerings. This factor influences the product mix in Disney’s marketing mix or 4Ps. In relation, these product classifications partially determine the divisions and subsidiaries, such as Pixar, included in Disney’s corporate structure. The second factor of this mission statement is a series of adjectives that describe the company’s products. In being “the most creative, innovative and profitable,” the company implies leadership through its products. Moreover, the company targets the global market for its products, based on the third factor in its corporate mission. In considering these factors of the corporate mission statement, The Walt Disney Company’s generic competitive strategy and intensive growth strategies must include innovation, creativity, or related strategic management efforts. These factors are strongly associable with the corresponding vision statement and its impact on the business.
Disney’s Vision Statement
In considering the aforementioned official corporate mission statement, The Walt Disney Company’s corporate vision is “to be one of the world’s leading producers and providers of entertainment and information.” This vision statement shows industry leadership targets for strategic management, and provides an overview of the nature of the business. Disney’s corporate vision statement has the following main factors:
- Leading producers and providers
- Entertainment and information
This corporate vision statement’s first factor is a specification of the company’s market scope, which in this case is global. On the other hand, the second factor is about leadership. Thus, the vision statement shows that The Walt Disney Company focuses on becoming a top player in the global market for amusement parks, entertainment, and mass media products. Attainment of this goal requires effective advantages and management to address the level of competition ascertained in the Porter’s Five Forces analysis of Disney. For example, the company needs to strategically develop competitive products that suit new trends in the industry. In addition, the third factor of the corporate vision focuses on the types of business outputs. Therefore, Disney’s corporate vision statement is a reflection of the corporate mission statement.
Summary & Recommendations – The Walt Disney Company’s Corporate Mission & Corporate Vision
Corporate Mission Statement. This company analysis case of Disney shows that the business is focused on achieving a leading position in the international industry. The corporate mission contains sufficient information to guide the company’s management and strategies in the aspects of product development, organizational structure, and marketing. The clarity and specificity of this statement help boost the business advantages and strengths shown in the SWOT analysis of The Walt Disney Company, to address competition against Sony, Universal Studios (Comcast), and other firms. However, the company does not properly delineate between its corporate mission and vision. Doing so could minimize confusion. For example, a clear delineation can improve strategic decisions-making processes among managers. A recommendation is to improve the official mission statement by removing portions that pertain to Disney’s vision statement.
Corporate Vision Statement. The Walt Disney Company integrates its vision statement into its mission statement. Separating these two statements, the resulting corporate vision is future-oriented and clear in terms of the company’s strategic aspirations. For example, Disney aims for leadership in the global market for entertainment products. These characteristics satisfy some of the conventions in writing corporate vision statements, and helps focus managerial endeavors. However, this vision statement does not specify the kind of information that the company provides. Thus, to improve this corporate vision statement, it is recommended that The Walt Disney Company include a more specific description of the “information” it aims to provide as one of the leading businesses in the global industry.
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- The Walt Disney Company – About.
- The Walt Disney Company – Form 10-K.