Walt Disney Mission Statement: An Analysis
In more than 90 years of its existence, the name of Walt Disney has acquired a special position in the world of entertainment the brand has acquired several businesses and has continued to grow the ambit of its products and services. Apart from being one of the most well known media and entertainment companies, Disney is also a globally popular brand and especially popular among the kids. Apart from some world famous toon characters, it has brought some of the best parks, resorts and leisure experiences. However, at the core of the entire Disney experience is the Disney studio.
It is the foundation upon which the company and the brand was built. Today, its characters and experiences reach the audiences in every corner of the globe the brand operates in 40 countries and its staff work to create experiences that are universally as well as locally cherished. From the Disney land resort to the Marvel Studios, the brand is engaged in providing an experience to its consumers that is just as diverse as it is innovative and engaging. This is an analysis of the mission statement of the Walt Disney Company.
Mission Statement of Walt Disney:
The mission of The Walt Disney Company is to be one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.
As in case of several other brands, Disney too does not have different mission and vision statements. The same statement serves the purpose of both. However, an important thing that gets clear at the first sight is that the central focus of this mission statement is the product mix of the brand and innovation. A mission statement defines the purpose of a company’s existence. A vision statement on the other hand defines the future of the brand or where the brand seeks to reach in future. Both the statements have an important role in the organizational strategy and play a role in decision making and resource allocation too. The mission statement serves as a tool for managers to measure their actions and decision and if they abide by the company’s mission. It helps them make the right decisions and set the business’ priorities. Similarly, the vision statement helps know if the company is on the right course or there need to be made any changes in its business strategy.
As the mission statement of Walt Disney spells out, the company expects to become one of the leading producers and providers of entertainment and information. These are the main business areas in which the company serves its target audience. The brand seeks to provide the most creative innovative and profitable entertainment and related services through its diverse product portfolio. This mission statement while it discusses the product portfolio of the brand, it does not specifically give any details about these products. The mission statement first of all lacks specificity and only deals vaguely with the focus of the brand. It does not give any clear glimpse of the product range, customer audience, market position, competition or leadership and employees. These things also have an important place in the mission statement of a brand.
A mission statement must be specific to help managers with decision making and resource allocation. It can include more factors like competition, market position, staff, CSR and other factors too in its mission statement. Even in terms of spelling out a future for the brand, the mission statement does not lay out a clear future but makes a generic statement. Every brand wants to be the best or one of the best. However, having a clear strategy regarding the future is essential for any brand and therefore a clear view of the future. Overall, the mission statement is a bit broad and generic and can be made more specific. There is no clear mention about the financial position of the company and how it is trying to grow in future.