Control Mechanisms: The Walt Disney Company: Team Project

1354 words - 5 pages

Control Mechanisms: The Walt Disney Company Introduction Organizations use control mechanisms to help regulate guidelines and procedures which contribute toward effectively achieving organizational goals. The Walt Disney Company is a well known entertainment organization that has become tremendously successful both nationally and internationally over the past 70 years or so partly through successful implementation of control mechanisms throughout every aspect of the organization. The purpose of this paper is to explore four types of control mechanisms used by the Walt Disney Company: (1) budgetary, (2) financial, (3) management audit, and (4) bureaucratic through compare and contrast to determine the effectiveness of each by examining the positive and negative reactions to these control mechanisms in order to explain how the different control mechanisms impact the four functions of management throughout the organization.Budgetary Controls Budgetary controls are a well known and frequently used control measure throughout corporate America and the international business market system. Budgetary controls are used to align the various company operating costs with the company's strategic goals and to either verify goal attainment or to plan corrective action. Throughout its existence, Walt Disney has implemented many different budgetary controls reaching across numerous and diverse product lines.With the motion picture production division, production budgets were used to limit expenses for the cost of materials and equipment, talented actors, various support staff, and the marketing and placement of movies into circulation. As Walt Disney expanded its business to include multiple elaborate theme parks, a capital budget was created to establish a threshold on the cost of real estate, buildings and equipment, and the operating and maintenance costs.When the company decided to venture into the production of toys and clothing, the management designed and implemented a sales budget to manage the increased cost of entering a new market. With the budgetary controls in place, Walt Disney has managed to keep operating costs at an acceptable level and experienced remarkable success in the entertainment industry.These budgetary controls have given the company the ability to venture into new markets, cross international borders, and bring family entertainment to the world. "Its filmed entertainment units have been riding high on a string of box office successes and its theme parks continue to draw millions of visitors each year." (The Walt Disney Company, 2008). Along with the use of budgets, companies universally use various financial statements to put into practice financial controls.Financial Controls The Walt Disney Company's main financial objective is to be able to generate revenue through growth and long-term shareholder values. The segments of which the Disney Company is categorized are studio entertainment, parks and resorts, media networks and consumer...

Find Another Essay On Control Mechanisms: The Walt Disney Company: Team project

Walt Disney Company Report

6883 words - 28 pages Walt Disney Company Report"Creativity continues to be the essence of Disney, even as our businesses expand across borders and media platforms, it is the foundation for almost everything we do, the source of our strength and our success, and the fuel that will power us into the future"- Robert Iger, President and CEO -When we hear the word Disney, what is the first think that comes up in our minds? Most people think about Disney and relate it to

Walt Disney Company Essay

4268 words - 17 pages Walt Disney Company Introduction This report attempts to examine the Walt Disney Company as an organization whose international operations play a vital role in the company’s continuing existence. This report seeks to present a review and analysis of the company’s global strategy by analyzing the key internal and external factors that impact on the company and how it has used alliances and acquisitions as part of its global strategy. As a

Walt Disney Company

2811 words - 11 pages results that is how they are compensated for the following year. Management Control The most valuable asset that the Walt Disney Company has is its reputation for providing superior customer service. Each guest that visits the theme park knows that they are going to be treated with the upmost respect. When the guests expect a high level of customer service, and feel that they did not receive what Disney promised they are quick to complain

The Walt Disney Company- Entertainment King

9475 words - 38 pages company was again in difficult financial straits. It would take several years to make the next full-length animated film18 (Cinderella, 1950), so Walt decided to generate some quick income by making movies such as Song of the South (1946) that mixed live action with animation.19 Further diversification included the creation of the Walt Disney Music Company to control Disney's music copyrights and recruit top artists. In 1950, Disney's first TV

Exploring Walt Disney Company: The Entertainment King

1500 words - 6 pages Strategic Management The Walt Disney Company: The Entertainment King[1] I. Why has Disney been successful for so long? Disney’s long-run success is mainly due to creating value through diversification. Their corporate strategies (primarily under CEO Eisner) include three dimensions: horizontal and geographic expansion as well as vertical integration. Disney is a prime example of how to achieve long-run success through the choices of

Walt Disney Company Case Study

1551 words - 6 pages Walt Disney Company Case Study PART I Why is Disney so successful The success of Disney is a combination of creativity and innovations, and the managerial ability to identify and take advantage of every possible synergy. Walter Disney was the entrepreneur who had the creative skills. Knowing his limitations, he let other people do what he couldn't do good enough himself. This is an important skill, as it leads to quality products being

Walt Disney Company, Burbank California

911 words - 4 pages Walt Disney Company, Burbank CaliforniaWalt Disney, others might argue, has been the greatest inventor of all time, coming up with Disney productions, such as films, clothes, resorts and many more. Disney has come to be known as a world where fairytales magic, happiness, optimism and the hope of happy endings are all possible. One of the reasons it is so popular with children is because it encourages them to dream, and to know that their dreams

Case study The Walt Disney Company: The Entertainment King

1264 words - 5 pages 1.Briefly describe the type(s) of diversification strategies that Walt Disney pursues/has pursued over the years.The Walt Disney company can be seen as a highly diversified company. Over the years, it has pursued a wide range of diversification strategies that we can enhance:•Horizontal integration: obviously, Walt Disney has invaded several markets, diversifying its offer to many fields. In 2000, we can find five big main fields of action

The Walt Disney Company - Lynn University/MBA 640 - Research Paper

4144 words - 17 pages production, the Snow White and the Seven Dwarfs makes money again and at some point saves The Walt Disney Company. In 1966, Walt Disney died of lung cancer. With a lack of leadership, the company begins a slow decline, culminating in the attempt to shareholders to purchase the company through majority control of their actions. A year after the death of Walt Disney, begins construction of The Walt Disney Resort in Florida, opened in 1971 - the same

The Walt Disney Company as an Internet Pioneer

1297 words - 5 pages in 1923 as a cartoon studio, The Walt Disney Company has grown to become a diversified, international family entertainment and media company.?( A culturally diverse staff is something that the Disney Corporation takes seriously. Starting at the top of the company with the board of directors and the management team, the company has incorporated men, women, and a diverse group of other talented

A Cultural Assessment of the Walt Disney Company

2073 words - 8 pages seeks to develop creative, innovative and profitable entertainment experiences for the entire family. At the same time, the company strives to maximize Disney's long-term value to their shareholders. By the end of the twentieth century, the Walt Disney Company had already established footholds in four major business segments: Media Networks, Studio Entertainment, Parks and Resorts and consumer Products.Disney strives to separate itself from

Similar Essays

The Walt Disney Company Essay

3777 words - 16 pages The Walt Disney Company is one that provides a broad spectrum of goods and services, making it extremely unique. The company divides themselves into five main categories: Media Networks, Parks and Resorts, Walt Disney Studios, Consumer Products, and Disney Interactive. These five factions do different things from producing movies to running theme parks. The Walt Disney Company, an oligopoly as few firms exist with the same relevance in society

The Walt Disney Company Essay

1776 words - 8 pages COMPANY BACKGROUND The Walt Disney Company is a wildly successful, international entertainment and media company. The company was born in 1923, after Walt and Roy Disney formed a partnership and started creating animated films. They affectionately named their joint venture the Disney Brothers Cartoon Studio. This was the beginning of what is known today as The Walt Disney Company. A more detailed history is available at http

The Walt Disney Company Essay

2092 words - 9 pages My mom is an employee at Marvel Comic’s headquarters in New York City. Marvel Comics is owned by the Walt Disney Company and this inspired me to analyze the corporate giant. It safely can be said that every kid has seen some sort of production by Disney. Countless kids grew up with Disney characters being one of their initial impressions of the world. And that makes Disney a very special and important company. Not only does Disney provide

The Walt Disney Company Analysis

1134 words - 5 pages “The Walt Disney Company is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media.” (The walt disney, n.d.) At year end of 2013, the company had net revenues of $45 billion, up from $42.3 billion the previous year and net income of $6.1 billion, up from $5.7 billion the previous year. ("Walt