The Magic Behind Disney Mission Statement: A Closer Look

Dominating the entertainment industry for nearly a century, Disney is a powerhouse American multinational media and entertainment corporation with its headquarters at Walt Disney Studios in Burbank, California.

The company, which was originally established by the Disney brothers as Disney Brothers Studio on October 16, 1923, has undergone several name changes before being rebranded as the Walt Disney Company in 1986.

Before delving into Walt Disney mission statement and vision statement,2 let’s first take an overview of the Walt Disney Company.

Overview of Walt Disney Company

In its early days, the Walt Disney Company established itself as a leader in the animation industry by creating Mickey Mouse, its beloved mascot, and the production of animated films. As its popularity grew in the early 1940s, the company diversified into live-action movies, television, and theme parks. However, following Walt Disney’s death in 1966, the company’s profits suffered, particularly in the animated film division. With the election of Michael Eisner as CEO in 1984, the studio experienced a resurgence known as the Disney Renaissance. Under Bob Iger’s CEO in 2005, the company began expanding and acquiring other companies. Bob Chapek took over as CEO in 2020.

Since the 1980s, Disney has created and acquired divisions to market more mature content than its family-oriented flagship brands. Its Walt Disney Studios film studio division includes Walt Disney Pictures, Walt Disney Animation Studios, Pixar, Marvel Studios, Lucasfilm, 20th Century Studios, 20th Century Animation, and Searchlight Pictures, its most well-known segment. Disney’s other major business segments include television, broadcasting, streaming media, theme parks, consumer products, publishing, and international operations.

The company owns and operates the broadcast network ABC; cable television networks such as Disney Channel, ESPN, Freeform, FX, and National Geographic; publishing, merchandising, music, and theater divisions, direct-to-consumer streaming services such as Disney+, Star+, ESPN+; Hulu, and Hotstar, and Disney Parks, Experiences, and Products, which includes several theme parks, resort hotels, and cruise lines worldwide.

As one of the largest and most recognizable companies globally, Disney ranks 53rd on the Fortune 500 list of the largest US companies by revenue for 2022 and has won 135 Academy Awards, with 26 awarded to Walt. Disney is also credited with producing some of the best movies ever and revolutionizing the theme park industry.

However, the company has also faced criticism for alleged plagiarism, the past portrayal of racial stereotypes, and the inclusion or exclusion of LGBT-related elements in its films. Disney has been listed on the New York Stock Exchange (NYSE) since 1940 under the ticker symbol DIS and has been a component of the Dow Jones Industrial Average since 1991. As of August 2020, major financial institutions held nearly two-thirds of their shares.

Walt Disney Mission Statement

The mission statement of The Walt Disney Company is to use the power of unparalleled storytelling, iconic brands, creative minds, and innovative technologies to entertain, inform, and inspire people globally. This statement reflects the critical aspects of Disney’s business, including its emphasis on entertainment, information, inspiration, global reach, unique status, and its focus on storytelling, branding, creativity, and innovation.

Disney’s commitment to people is consistent with its history, where the company has always strongly emphasized community well-being. This aligns with the first character in the mission statement, which prioritizes people’s well-being. The company has also implemented various programs to empower individuals and create positive change in their lives, including philanthropy initiatives that benefit children and young people. For example, the company’s $100 million program has improved the lives of many patients worldwide.

Despite focusing on social responsibility, Disney remains dedicated to its primary entertainment purpose. The company continues to demonstrate its creativity and expertise in delivering entertaining and informative content. Disney parks, experiences, and products offer even more ways for customers to enjoy the Disney experience.

Disney’s mission statement reflects the company’s commitment to using its unique storytelling abilities, iconic brands, and innovative technologies to provide entertainment, information, and inspiration to people worldwide. The company’s dedication to people and creativity makes it a leading entertainment and mass media player.

Walt Disney Vision Statement

Disney’s vision is to be “one of the world’s leading producers and providers of entertainment and information”

Disney positions itself as the world’s leading provider of quality services with unparalleled reach, underscoring its leadership in the industry. As a leader, Disney is able to support industry development initiatives that benefit all players without the constraints of competition. This is reflected in the company’s vision statements:

Global leadership Leadership in production, entertainment, and information provision

Although founded in the United States in 1923, Disney has achieved its goal of becoming a multinational corporation with a global presence in nearly every country, making it a leader in its operations worldwide. The second characteristic highlights why Disney is held in such high regard by the industry and its customers.

Disney is self-sufficient in all areas of its operations, from content creation to providing various services. Its services are even utilized by other emerging companies, making it a mentor for other affiliates and players in the industry. Therefore, the company prides itself on empowering and entertaining the world while maintaining its leadership position.

Also, Read Meta Mission Statement & Vision Statement in 2022 (Formely Facebook)

Walt Disney’s Core Values

Disney’s guiding principles are rooted in its core values, which include making everyone’s dreams come true, believing in oneself, treating customers as guests, fostering teamwork, sharing success, taking risks, committing to practice, and capturing the magic of storytelling through storyboards. These core values form the foundation of the company’s strength and success, providing a clear direction for the organization and guiding its actions and decisions. By upholding these principles, Disney has created a culture of excellence and innovation, where creativity and imagination thrive, and where the needs and desires of customers are at the forefront of everything the company does.

Disney strives to cultivate a work culture that fosters a sense of inclusion, safety, and motivation among its employees. This is achieved by promoting a forward-thinking mindset, embracing technological advancements, supporting entrepreneurship, and taking calculated risks. Through these measures, the company provides a platform for its employees to push the boundaries and think creatively, even if they encounter setbacks along the way. This mindset is encapsulated by the phrase “make your elephant fly,” and it contributes to the exceptional content and information that distinguishes Disney from its competitors.

Recommendations By Business Mavericks – Walt Disney’s Corporate Mission and Vision Statement

Mission Statement: This analysis of Disney’s corporate strategy highlights the company’s strong focus on achieving a leading position in the global media and entertainment industries. The company’s mission statement provides specific guidance for product development, organizational structure, and marketing, reinforcing the strengths and advantages identified in Disney’s SWOT analysis.

This specificity also helps the company to compete effectively against rivals such as Sony and Universal Studios. While the current mission statement aligns well with the company’s vision, it could benefit from additional emphasis on specific business aspects, such as human resources and the role of storytelling, branding, and innovative technologies. Nonetheless, the existing mission statement remains a valuable tool for guiding strategic decision-making among Disney’s managers in the media and entertainment industry.

Vision Statement: The vision statement of The Walt Disney Company complements its mission statement by providing a forward-looking and clear statement of the media company’s strategic aspirations. For example, Disney aims to be the leader in the global market for entertainment products, which aligns with its mission statement. However, the vision statement lacks specificity regarding the type of “information” the company intends to provide. Therefore, it would be beneficial for Disney to include a more detailed description of the “information” it intends to provide as one of the leading companies in the global entertainment industry, in order to further enhance its vision.

Reference

1. Wikipedia https://en.wikipedia.org/wiki/The_Walt_Disney_Company
2. Walt Disney.