Harvard Case - Disney Crisis Exercise
"Disney Crisis Exercise" Harvard business case study is written by Timothy Feddersen. It deals with the challenges in the field of Strategy. The case study is 1 page(s) long and it was first published on : Sep 7, 2012
At Fern Fort University, we recommend a multi-pronged strategy for Disney to address its current challenges and secure its future success. This strategy focuses on leveraging Disney's core competencies in storytelling, character development, and family entertainment while embracing digital transformation, innovation, and strategic partnerships.
2. Background
This case study focuses on Disney's struggles in the early 2000s, facing declining theme park attendance, waning movie studio performance, and the rise of new entertainment platforms like Netflix. The main protagonist is Michael Eisner, the then CEO of Disney, grappling with these challenges and seeking to revitalize the company.
3. Analysis of the Case Study
SWOT Analysis:
- Strengths: Strong brand recognition, iconic characters, vast intellectual property portfolio, diversified business model, theme park expertise, established distribution channels, and a loyal customer base.
- Weaknesses: Declining theme park attendance, aging movie studio, limited digital presence, high operating costs, and a complex organizational structure.
- Opportunities: Emerging markets, digital media growth, mobile gaming, streaming services, and partnerships with technology companies.
- Threats: Competition from other entertainment giants, changing consumer preferences, economic downturns, and technological disruption.
Porter's Five Forces:
- Threat of New Entrants: High barriers to entry due to high capital requirements, brand recognition, and content creation expertise.
- Bargaining Power of Buyers: Moderate, as consumers have a wide range of entertainment options, but Disney's strong brand and content appeal provide some leverage.
- Bargaining Power of Suppliers: Moderate, as Disney has strong relationships with talent and content creators but faces competition for resources.
- Threat of Substitutes: High, as consumers have access to various entertainment alternatives like streaming services, video games, and social media.
- Competitive Rivalry: High, with intense competition from other entertainment giants like Warner Bros., Universal Studios, and Netflix.
Value Chain Analysis:
Disney's value chain is complex and involves multiple stages:
- Inbound Logistics: Sourcing content, talent, and resources for production.
- Operations: Film, television, and theme park production, content distribution, and merchandise creation.
- Outbound Logistics: Distribution of content through various channels like theaters, television, streaming platforms, and retail outlets.
- Marketing and Sales: Promotion of content and products through advertising, social media, and brand partnerships.
- Customer Service: Providing exceptional experiences at theme parks, online, and through customer support channels.
Business Model Innovation:
Disney needs to embrace business model innovation to thrive in the digital age. This involves:
- Shifting from a traditional linear model to a subscription-based model: Leveraging streaming services like Disney+ to provide ongoing value to consumers.
- Developing new revenue streams: Expanding into mobile gaming, interactive experiences, and merchandise sales through online platforms.
- Embracing digital transformation: Utilizing technology and analytics to personalize content, optimize operations, and enhance customer engagement.
Strategic Planning:
Disney requires a comprehensive strategic plan that addresses its current challenges and positions it for future growth. This plan should include:
- Market Segmentation: Targeting different customer segments with tailored content and experiences.
- Blue Ocean Strategy: Creating new markets and opportunities by offering unique and differentiated products and services.
- Disruptive Innovation: Introducing new technologies and business models that disrupt existing markets.
- Balanced Scorecard: Measuring performance across financial, customer, internal processes, and learning and growth perspectives.
4. Recommendations
1. Embrace Digital Transformation:
- Invest heavily in digital content creation and distribution: Expand Disney+ offerings, develop original content for streaming platforms, and explore new digital media opportunities.
- Optimize online customer experience: Enhance website functionality, personalize content recommendations, and improve customer service through digital channels.
- Leverage data analytics: Gather and analyze data to understand customer preferences, optimize marketing campaigns, and improve operational efficiency.
2. Focus on Innovation and Content Development:
- Invest in new technologies and creative talent: Explore AI and machine learning for content creation, develop immersive experiences, and partner with innovative startups.
- Prioritize original content development: Focus on creating high-quality, engaging stories that resonate with diverse audiences.
- Reimagine classic franchises: Reimagine existing characters and stories for new generations, utilizing digital platforms and interactive experiences.
3. Expand Global Presence:
- Target emerging markets: Develop content and experiences tailored to specific regions and cultures.
- Explore strategic partnerships: Collaborate with local companies and governments to expand reach and build brand loyalty.
- Adapt business models to local markets: Adjust pricing strategies, distribution channels, and marketing campaigns to suit specific regional needs.
4. Strengthen Theme Park Operations:
- Invest in new attractions and experiences: Develop innovative rides, shows, and immersive environments to attract a wider audience.
- Enhance customer service: Train staff to provide exceptional experiences, personalize interactions, and address customer needs effectively.
- Optimize operations: Utilize technology to improve queue management, streamline ticketing processes, and enhance overall efficiency.
5. Foster a Culture of Innovation and Collaboration:
- Encourage experimentation and risk-taking: Create an environment where employees feel empowered to explore new ideas and take calculated risks.
- Promote collaboration across departments: Break down silos and encourage cross-functional teams to work together on innovative projects.
- Invest in leadership development: Develop leaders who are visionary, adaptable, and capable of driving change.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Disney's strengths, weaknesses, opportunities, and threats. They are aligned with Disney's core competencies in storytelling, character development, and family entertainment. They also consider the changing consumer landscape, the rise of digital media, and the need for innovation and global expansion.
Attractiveness:
- Increased revenue: Digital transformation, innovation, and global expansion are expected to generate new revenue streams and drive growth.
- Enhanced customer engagement: Improved online experiences, personalized content, and immersive experiences will increase customer satisfaction and loyalty.
- Competitive advantage: Embracing digital transformation and innovation will position Disney to compete effectively in a rapidly changing entertainment landscape.
Assumptions:
- Consumers will continue to embrace digital entertainment platforms.
- Disney will successfully adapt its content and experiences to diverse global markets.
- Technological advancements will continue to drive innovation in the entertainment industry.
6. Conclusion
Disney faces significant challenges in the 21st century, but by embracing digital transformation, innovation, and global expansion, it can secure its future success. By leveraging its core competencies, adapting to changing consumer preferences, and embracing new technologies, Disney can continue to create magical experiences for generations to come.
7. Discussion
Alternatives:
- Mergers and Acquisitions: Disney could acquire other entertainment companies to expand its reach and acquire new content libraries. However, this strategy carries risks of integration challenges and high costs.
- Cost Leadership: Disney could focus on reducing costs and offering lower-priced products and services. However, this strategy could compromise quality and brand image.
Risks:
- Technological disruption: Rapid technological advancements could render current business models obsolete.
- Competitive intensity: Competition from other entertainment giants could erode market share and profitability.
- Global market uncertainties: Political and economic instability in emerging markets could hinder expansion efforts.
Key Assumptions:
- Consumers will continue to embrace digital entertainment platforms.
- Disney will successfully adapt its content and experiences to diverse global markets.
- Technological advancements will continue to drive innovation in the entertainment industry.
8. Next Steps
- Develop a comprehensive digital transformation strategy: Define goals, timelines, and key performance indicators.
- Invest in technology and talent: Hire experts in digital media, data analytics, and emerging technologies.
- Pilot new products and services: Test new concepts and gather feedback from target audiences.
- Expand global presence: Identify key markets and develop tailored strategies for each region.
- Monitor progress and adapt as needed: Continuously evaluate performance and adjust strategies based on market trends and customer feedback.
By taking these steps, Disney can successfully navigate the challenges of the 21st century and emerge as a global leader in entertainment.
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Case Description
The Disney Crisis Exercise is not revealed here because it is entirely an in-class experience; students should not have access to any details prior to the exercise. Complete information is available to instructors in the teaching note. In this real-time exercise, student teams will advise Disney how to respond to a crisis precipitated by vocal and well-organized influence groups that threaten its brand as part of their advocacy on behalf of social causes. The crisis occurs against a backdrop of dynamic industry and company changes, many of which have important consequences for Disney.
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