Research and select a sample strategic plan in an industry with which you are familiar or interested. Be sure it includes the various components of a typical strategic plan. Reference Figure 1.1 “Identifying a Company’s Strategy—What to Look For” in Ch. 1 of your text.
Identify in a maximum of 525 words or more what the plan does well, in addition to areas for improvement.
Discuss whether the plan:
Clearly states where the organization is going and how it will get there
Evaluates the organization’s external and internal environments
Includes a people plan and addresses achievement of a diverse workforce
Includes corporate social responsibility and environmental sustainability
Submit the plan in the form of an APA formatted paper and its citation
Full Answer Section
- Focus on Growth Drivers: The plan highlights key growth drivers like the expansion of Disney+, continued investment in theme parks and resorts, and leveraging intellectual property across new platforms.
- Financial Performance Goals: Disney sets clear financial performance objectives, focusing on revenue growth, profitability, and shareholder return.
- Technological Innovation: The plan prioritizes technological innovation, emphasizing the development of streaming services and leveraging data analytics to enhance customer experiences.
Areas for Improvement
- Limited Transparency: While the vision and mission are clear, specific details regarding long-term strategic initiatives could be more transparent. Investors and stakeholders might benefit from a more comprehensive roadmap.
- Diversity and Inclusion: While Disney acknowledges its commitment to diversity and inclusion, a more detailed plan outlining specific goals and metrics for achieving a diverse workforce could strengthen the plan.
- Environmental Sustainability: The plan mentions sustainability efforts but could be more specific about environmental goals and initiatives. Disney could benefit from outlining a clear path towards reducing its environmental footprint.
Evaluation of External and Internal Environment
Disney's strategic plan implicitly acknowledges the external environment by focusing on trends like streaming service growth and the increasing importance of intellectual property. However, a more explicit analysis of the competitive landscape, changing consumer preferences, and technological advancements would strengthen the plan.
The plan also considers the internal environment to some extent, focusing on strengths like its vast library of intellectual property and its global brand recognition. However, a more in-depth analysis of internal capabilities, organizational culture, and potential weaknesses could be beneficial.
People Plan and Diverse Workforce
The plan doesn't explicitly outline a people plan. While Disney mentions its commitment to diversity and inclusion, specific details regarding talent acquisition, development programs, and diversity metrics are missing.
Corporate Social Responsibility and Sustainability
Disney highlights its commitment to corporate social responsibility initiatives but could provide a more comprehensive and measurable plan for environmental sustainability. Specific goals for reducing carbon emissions, waste management, and responsible resource utilization would strengthen this aspect of the plan.
Conclusion
The Walt Disney Company's strategic plan has clear strengths, particularly regarding its vision, focus on growth drivers, and financial goals. However, the plan would benefit from increased transparency, a more comprehensive external and internal environment analysis, a detailed people plan with a focus on diversity, and a more robust corporate social responsibility strategy that prioritizes environmental sustainability.
Sample Answer
This analysis examines the strategic plan outlined in The Walt Disney Company's annual reports and investor presentations (The Walt Disney Company, 2023). While the company doesn't publish a formal strategic plan document, its public pronouncements provide valuable insights into its strategic direction.
Strengths of the Strategic Plan
- Clear Vision and Mission: Disney clearly articulates its vision "to be one of the world's leading entertainment companies and the most admired for creativity, innovation and storytelling" (The Walt Disney Company, 2023, p. 5). Their mission statement emphasizes creating exceptional entertainment experiences for audiences worldwide.