Disney World Value Driven - Term Paper Example

?Running head: Disney world value driven Disney world value driven Management is the act of bringing people together in a firm to accomplish the desired goals and objectives. Management aims at utilizing the organization’s available resources efficiently. It comprises of planning, organizing, controlling, directing, and creating corporate policy. Management also exists in a form known as value driven management, which is an integrated practical analytic tool for decision making that employers and employees use to monitor actions and resolve problems to empower themselves and the organizations. Value driven management has a significant goal of value maximization over a given period. The aim of this work is to show how Disney World is linked to value driven management. Disney World is a diversified mass media corporation for multination. It is the biggest in terms of revenue generation. It was founded in 1923 as a cartoon studio. It has its products ranging from cable television, publishing, movies, theme parks, broadcasting, radio, web portals, and offers licensing services. In order for Disney World to be successful, it took value driven management into action. The owner, Walt Disney, had a form of self-assessment and the knowledge to operate the company. He was committed towards bringing new products to the market. This led to the growth of the company that enabled it to survive even in tough economic times of the US that existed in the late 1930s and early 1940s (Capodagli & Jackson, 2006). This self-assessment tool is a feature of value driven management. One other great feature that connects the Disney World to value driven management is its diversification of products. The company did not focus only on film production but it also thought of introducing new products to meet the competing customer needs. It had some other products like television debuts and theme park that quickly became successful. In order to achieve this, Disney solicited sponsorships that acted as cost subsidizers and it merchandised (Capodagli & Jackson, 2006). Value driven management aims at value creation in order to cope with the changing times and to meet customer needs. Companies that do nothing about their products end up failing and therefore there is need for companies to keep on differentiating their products as time changes. The products of a company have to be unique at all times as this maintains the competitive nature of the company. This is what has maintained the growth of Disney World from the founding times to its present days. Walt Disney was a pioneer in creating unique animations that impressed both children and adults (Capodagli & Jackson, 2006). He always applied skills and knowledge to his creativity making the products to be unique. Value driven management aims at no stopping even in adverse conditions. Value driven management is built with optimism. Disney had discouragements even from his family members and one of his projects was even termed as Disney’s Folly. His projects got him bankrupt at some points but he never had the attitude of stopping. He tried to look for funding of his work from film producers and in the process, he found one that funded snow white, which became a successful film and this is what made him begin his feature films (Capodagli & Jackson, 2006). The real study of ideas by the World Disney has also played a major part in its success. On top of that, the management always believes in new projects. The confidence that that members have enables them to build ideas out of everything. His idea of Disney Land for example, was based on a park in Missouri. The idea of train had run in his mind at childhood age and he brought it to his creation of Disney Land (Capodagli & Jackson, 2006). Revision and reform is a feature of value driven management that ensures that ideas are more than static. The success of Disney’s world also comes from Disney’s commitment for success. His dreams played a major role in the development of Disney’s land. In his creations, it involved a lot of planning and commitment and hard work. He had to use very successful advertising to promote his business. He even ended up The Mickey Mouse TV show to campaign for Disneyland (Capodagli & Jackson, 2006). Disney World has a history of organizational culture based on the foundation of quality standards, sharing of values and highly established traditions that built a roadmap to its current success. These foundations have helped the company build its uniqueness and characters. In addition, the foundations have helped to build a philosophical management process that brought along with them strong management decisions. Furthermore, the foundations have also benefited the company objectives of understanding the corporate culture and its elements and it has helped the organization discover tools of analyzing its culture (Capodagli & Jackson, 2006). The organization’s management also has the knowledge of selecting the right fits that reflect the organization’s strategy. It achieves this by encouraging each individual to ensure attainment of high standards in his or her position. The members of the management also try to involve people with high knowledge and experience during their decision making process (Capodagli & Jackson, 2006). This is important in that it ensures that the decisions made are right and attainable at all times. During the employee selection process, they ensure that they select highly qualified staff. They achieve this through offering employment tests on the skills of the employees, interviewing, and performing reference checks. Once they have selected the employees, they offer them training that ensures they enforce the organization’s values and philosophies in managing the organization. The training also gives the new employees the experiences in managing their careers and explores the strategies that they can adopt in any organization. The organization also ensures communication to employees that gives them the information and inspires them towards attaining future visions. The information also gives the guidelines on the actions of managers that ensure maintenance of the organization’s legacy. The organization has efficient tools of communication that ensure this (Capodagli & Jackson, 2006). Information dissemination helps managers to adapt quickly to the organization hence makes its environment conducive and thereby increases the managers’ efficiency of work. Disney also operates on the phrase that gratitude increases the efficiency of managers. Disney therefore shows sincere appreciation to its employees by recognizing their accomplishments and gives them the opportunities to exercise their talents in management. This creates a better employee relationship and enables them to realize their values to the company (Capodagli & Jackson, 2006). It also makes the workers view the workplace to be more than just a place of work but also a place where they can exercise their thoughts. Giving such an opportunity to workers enables them to take part in the management process and hence the organization may acquire some objectives and culture from the employees. Involving employees in the decision making process improves the employees attitude hence improving their efficiency. Disney’s form of management involves value driven management in its operation processes and this has made it attain success. Value driven management helps an organization in determining its core values. By so doing, it enables the organization to plan its staff requirements and in determining the target market. Disney’s approach to management is the one that operates under the values of customer satisfaction that brings higher profits in return. References Capodagli B. & Jackson L. (2006). The Disney way, revised edition. New York: McGraw-Hill Professional. Read More