Critical Business Skills for Success
Module One Assignment
Michael Rickman
Southern New Hampshire University
BUS 225: Critical Business Skills for Success
Kelsey Kwok
January 9, 2023
Module One Assignment
Application
According to our text, “critical thinking skills help you identify the problem or goal, brainstorm solutions, interpret data correctly, weigh the options logically, and efficiently organize the implementation and revision of your plan” (Soomo Learning). Businesses realize that critical thinking is crucial in day-to-day decisions. With an ever-changing world we live in, business need to adapt to the change by using critcial thinking to continue to make profits. Many companies rely on diversification in order to stay up to date, increase profit, and grow. Disney decided to reorganize their business into four parts: content production, parks, consumer products, and other experiences like cruises.
Analysis
Disney’s mission is to use storytelling in order to provide entertainment, and to inspire and inform people around the world. Disney was founded on October 16, 1923 by brothers Walt and Roy O. Disney. Disney is soon to celebrate being 100 years old. Disney utilizes a decentralized cooperative multidivisional organizational structure, in which many diversified companies use that run a lot of different operations, including global operations.
Early on, Disney founded the Mickey Mouse Club, and then began working on production in music, tv shows, and films. By 1955, Disney than moved to real estate by opening up the first Disneyland. Disney continued to grow throughout the years, including productions in hotels, stores, cruise lines, and movies. They also expand to broadcasting, interactive software and internet sites, and the Anaheim Mighty Duck NHL franchise.
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In 1955, Disney took the risk of branching out by opening the first Disneyland. After that, in 1984, CEO, Michael Eisner, of Disney continued to push diversifying in the company. Within 5 years, the company’s revenue doubled from 1.6 billion to 3.49 billion. The company reached the decision to diversify in order to keep up with consumer demand, increase profits, and grow the business. The reorganization that Disney decided to do was to help the company position itself for the future in order to create a more effective global framework. One of the new productions was the making of Disney plus. Disney saw the online streaming platform start to take off back in 2017. Disney plus was introduced in 2019.
Conclusion
Disney used critical thinking in order to decide how to address our fast-changing world. Disney also used critical thinking to reflect on the future of the company. Through diversification, Disney has expanded to being one of the largest and most successful entertainment companies in the world.
Disney’s decision to diversify was very successful in my opinion. I, myself, contribute to their success because I frequent Disney parks, and have been to the one in California, Florida, and Paris. I also pay for the Disney plus streaming services. I shop at Disney stores and stay at Disney hotels. Their marketing and mission to provide entertainment come through with the services they offer.
References
The Walt Disney Company. (2018). The Walt Disney Company Announces Strategic
Reorganization. The Walt Disney Company Announces Strategic Reorganization – The
Walt Disney Company
Soomo Learning. (2020). Critical business skills for success. https://www.webtexts.com
Critical Business Skills for Success
