The Disney Way - Research Paper Example

 Research Paper: The Disney Way Introduction The research paper encompasses analysis and application of innovative principles that is followed by Disney Company. Growth and success of a company depends on its strategy formulation techniques or basic principles. Walt Disney over the years has been able to grab attention of customers because of their exceptional concept which seems to be appealing and interesting to target market. The paper would focus on the major principle of the company that is Dream, Dare, Do and Believe. This principle outlines the reason behind success of Walt Disney in the entertainment industry. In this research paper this particular principle would be applied on Solstice Sleep Products. Company’s History Solstice Sleep Products is a firm that manufactures quality mattresses for its customers. It is committed towards delivery high value to its customers. The company has set a platform in order to develop quality products that over exceed expectations of customers and sets a high benchmark in terms of service. There is a highly experienced team which develops such products and enhances sustainability of the firm in the industry. The firm works in collaboration with topmost suppliers present in the industry so as to create extensive brand portfolio. Its value creation is more than hundreds of dollars which is considered to be a bit less than top most advertised brands. Over the years the company has focused on its factory setting so that quality is never compromised (Solstice Sleep Products, 2013). It possesses a highly talented research and development team that incorporates premium components in all the mattresses. These components comprise of wrapped coils, gel foam, natural latex and traditional spring systems that is wire-tied. Solstice Sleep Products is manufacturer that is US based and they are committed towards offering sleep products with warranties and highest standards. The company was incorporated in the year 2009 and it manufactures as well as designs all its products in United States. This firm has its operations spread across Michigan, Ohio, Florid and Indiana. Factory setting of the company is same in all the countries where the focus is towards just in time delivery and developing high value products. The three major mattress collection of the firm is Americana collection, Cottage Collection and Paradise collection (Online News Association, 2014). Each of these collections has specific requirements which are met by the employees working in the factories. Application of Dream, Dare, Do and Believe principles on Merlin Entertainments The Dream principle is a visionary undertaking and in this form of principle employees as well as management needs to be well aligned with the basic principles and ethics. This attitude is important when the organization is undergoing any kind of cultural change or there is new strategy implementation. Walt Disney had implemented this principle through making their employees think out of the box with proper managerial support. Innovative thoughts are highly appreciated in this company and employee empowerment also forms the central focus (Robins School of Business, 2012). Solstice Sleep Products can develop this dream principle in its system through various methods. Firstly it can be done through communicating strategic vision to the stakeholders such as suppliers, employees and dealers who are directly associated with factory’s operations. Other type of application can be through encouraging employees to do structure dreaming in order to resolve issues and derive solutions for faster processing of products. The other format can be employee involvement in story development about the company’s scenario in the next five years. These stories would help in framing a vision for the organization. Solstice Sleep Products in order to sustain its position in the industry needs to develop innovative products and in doing so employee engagement in factories would prove to be effective. This form of engagement can be done through storytelling techniques so as to assist the entire team before any new product is being developed. The belief principle states that a company needs to posses long term mentality, shared vision, shared partnerships and treat customers as guests. Walt Disney over the years has focused on innovation and believes that this is the tool to beat rivals. Belief factor can only be incorporated in an organization if the leaders are focused and determined. This principle can be applied on Solstice Sleep Products. As this group majorly focuses on developing high quality products but they even need to give importance to partnerships such as that with their suppliers, customers or employees. The group needs to embrace that individual as a leader who is optimistic and focuses on long term growth or survival. There is a requirement that Solstice Sleep Products build strong relationship with their supplier and meet them on a continuous basis. This would help in resolving organizational issues and increase overall productivity. Employees can also be involved to give their opinions regarding any such issue, overall performance of the company or partnerships with suppliers. The dare principle states that dreams can only be changed into reality if there is capability within an individual to take risks. Walt Disney has incorporated this principle and takes risk to develop their innovative projects. This principle can be effectively implemented in Solstice Sleep Products by creating magic for target audience by taking financial as well as operational risks. The employees of the group needs to be given liberty in terms of developing as well as bringing forth their problems regarding the major problems that they are witnessing in factory setting. Dare principle can be further implemented through educating employees on operational failures in order to develop new products. A cross functional team often is effective in meeting the desired objectives of the principle. The Do principle of Walt Disney states that practice is important to remove errors and to be perfect (Capodagli and Jackson, 1999).This strategy has been adopted by the company and can be effectively implemented in Solstice Sleep Products. There is a need that the company focuses on performance appraisal, 360 degree evaluation and proper training and development programs. Conclusion Solstice Sleep Products in the last few years after its incorporation is known for delivering high quality mattresses. Walt Disney has implemented certain principles in its system that has helped the company to sustain in the industry. These principles are Dream, Dare, Do and Believe which focuses on overall development and growth of the company. Such principles can be effectively implemented in Solstice Sleep Products so that it is able to rapidly increase on its market share. The four principles can be implemented through different ways but the focus would be on involving employees in all strategic decision making regarding operations in factories. Employee engagement, effective leadership style, forming partnerships, and encouraging employees to perform well would transform dream into reality for the company. References Capodagli, B., and Jackson, L. (1999). The Disney Way: Harnessing the Management Secrets of Disney in Your Company. New York: McGraw-Hill. Online News Association. (2014). Solstice Sleep Products. Retrieved from: http://www.beds.org/manufacturer/solstice_sleep_products.htm . Robins School of Business. (2012). The Walt Disney Company: A Corporate Strategy Analysis. Retrieved from: http://robins.richmond.edu/documents/cases/WaltDisney.pdf . Solstice Sleep Products. (2013). Solstice Sleep Products. Retrieved from: http://solsticesleep.com/about-us/ . Read More