The Walt Disney Company started as a small entertainment company in 1923 (Disney.com, 2011). Since that time the company has used various strategies enabling them to grow into a global entertainment company.
The Walt Disney Company is known throughout the world as a leader in entertainment. The strategies that the Walt Disney Company have used include competitive advantage, a growth strategy, and a renewal strategy. When a person mentions a theme park, Disney is the first park that comes to mind. They were not the first theme park, but they have mastered the art of creating memories for adults and children alike. As a former employee of Disney I can vouch for the amount of effort that goes into creating memories for families. Disney is a leader when it comes to the theme park business, and other parks look at Disney as a leader. An example of this is that other parks will not raise admission prices, until Disney first raises their prices. WESH.com said "It remains to be seen if Disney's move will trigger a round of similar increases at other Orlando theme parks. Historically, when Disney raises its prices, the other parks follow" (2011, p.1). There is not a company in the world that can provide the "magic" that the Walt Disney World company can provide (Disney.com, 2011).
Since the company was started, Walt Disney has always envisioned more than just making animated movies. In 1952 the company made plans to build its first theme park known as Disneyland (Disney.com, 2011). With the opening of the park the Walt Disney Company initiated a growth strategy that would take them to the global entertainment company that they are known as today. In 1984 the company brought in a new CEO and chairman of the board for the company. Michael Eisner knew from the beginning that the company needed to grow in order to succeed. Under his leadership the company went from two theme parks to nine located throughout the world. Disney now consists of the Magic Kingdom, Disneyland, California Adventure, Animal Kingdom, Epcot, Disney Studios, Euro Disney, Tokyo Disney, and Hong Kong Disneyland. In addition to the theme parks Walt Disney has acquired several companies to increase their television and movie presence. Some recent examples include the acquisition of Pixar Entertainment, Marvel Comics, and the ABC television networks (Goldman, 2009). Eisner is also credited with the creation of the Walt Disney Cruise Line that is made up of four ships; the Wonder, Magic, Dream, and Fantasy (Disneycruise.com, 2011). Disney.com said "Making dreams come true every day is central to our global growth strategy" (2011, p.2).
The third strategy that Walt Disney Company utilized was a renewal strategy. After Walt Disney died the company lost its direction. They hadn't made a successful movie in years, the theme parks were suffering from little growth, and the attendance had not increased in several years. In 1984...