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The Walt Disney Companys Balanced Scorecard

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The Walt Disney Companys Balanced Scorecard

Introduction

The Walt Disney Company (TWDC), or simply Disney, is a multinational entertainment and mass media conglomerate that was established in Los Angeles in 1923. According to the companys website, TWDC seeks to entertain, inspire, and impact people through the power of stories (The Walt Disney Company, n.d.). At the same time, Disney continuously searches for ways to grow profitably and sets goals that will lead the company in that direction. For one, as per TWDCs 2021 report, the companys further growth plan includes accelerating expansion in its leading market, North America, launching new franchises, and continuing to extend its streaming platforms influence (The Walt Disney Company, 2021). Moreover, Disney aims to broaden its global reach through alliances with other companies while increasing stakeholder returns. In addition to that, The Walt Disney Company (2020) emphasized that it has a long-term vision and specific goals when it comes to sustainability policy. Seeing how the entertainment market today is more large and attractive than ever and how it continues to grow globally, it seems that further success for Disney is almost ensured.

The Walt Disney Companys Objectives

Financial Objectives Responsible Person Targets: Timeline/ Metrics
Minimization of operating costs and expenses Chief Financial Officer Decrease by 5% in the first year
Growth in comparable store sales Chief Financial Officer Increase by 1% globally in the first year
Increase in shareholder returns Chief Executive Officer Increase by 50% in the first 5 years
Customer Objectives Responsible Person Targets: Timeline/ Metrics
Adding more digitally registered customers Digital and Social Media Manager 5 million more Disney streaming platforms users in the first year
Improving customer access to products Global Operations Manager Increase in worldwide presence by 15% in the first year
Improving customers feeling of connection to the brand Digital and Social Media Manager Increase in feeling of connection to the brand by 10% in the first year
Internal Business
Process Objectives		 Responsible Person Targets: Timeline/ Metrics
Decrease in the number of errors in production Total Quality Manager Error number decrease by 75% the first year
Smart use of technology to boost efficiency Information Technology Specialist At least 90% of all relevant customer data information to be stored in one global database
Staff retainment Human Resources Coordinator 5-10% raise for employees of 2+ years
Learning and Growth Objectives Responsible Person Targets: Timeline/ Metrics
Acceleration in store growth in the United States Sales Executive Increase the closure of under-performing stores by 50%
Certainty that all products and experiences are as high-quality as they are sustainable Chief Sustainability Officer 15% increase in sustainability indicators in the first year
Identification of opportunities for new products and services Business Strategist Development of five new product lines in the first year

For each group of operational steps in four areas  financial, customer, internal business project, and learning and growth objectives  there will be a team of specialists to control the process of goal achievement. According to Jefferson and Quadrani (2022), in 2022s second fiscal quarter, Disneys revenues grew by 23%, and in the past six months  by 29%. This figure seems to be related to the world slowly starting to recover from the effects of the global pandemic, which, for instance, explains the brilliant financial performance of Disneys theme parks in 2022. Moreover, Disneys 100+ additional store locations that were opened at Target all over North America by the end of 2021 are doing exceptionally well too. It reflects the companys confidence in gaining additional market share while strengthening its influence in its most heavily penetrated market.

However, apart from continuing to target North America, TWDC needs to consider the better establishment of its presence elsewhere. It will allow the company to increase its customer base and celebrate its unique culture, which promotes diversity and inclusion all over the world. For this plan to be successfully brought to life, the company is to focus on improving its internal business processes. It includes a decrease in the number of production errors and more efficient use of technology for information storage.

Furthermore, the pandemic has contributed to particular changes in customer behavior, and TWDC, like any other organization, has to be prepared to adapt the business to its short-term and long-term effects. The current times demand that companies continue to meet their customers needs while ensuring that peoples engagement with the brand happens in whichever way it is convenient for them. For Disney, innovations in this field are to include the continuation of consumer experience elevation, the creation of new online platforms, and the expansion of digital relationships with the customer base.

Conclusion

Finally, Disney has recently announced that it strives to be a resource-efficient company  that is, it cares about the environment and gives back to the planet. More investments will need to be made in various sustainability policies and operations for the company to actually establish itself as a leader in this area. TWDCs efforts include its commitment to reaching net-zero greenhouse gas emissions from its direct operations, producing zero-carbon electricity, and implementing localized water stewardship programs by 2030 (The Walt Disney Company, 2021). Disney realizes that, as an organization with a unique position and the ability to make a long-lasting impact, it is responsible for addressing critical issues regarding the planet which sustains humankind. In this way, Disney drives the innovation that allows people to give to the environment more than they take.

References

Jefferson, D., & Quadrani, A. (2022). The Walt Disney Company reports the second quarter and six months earnings for fiscal 2022. The Walt Disney Company.

The Walt Disney Company. (n.d.). About the Walt Disney Company.

The Walt Disney Company. (2020). The Walt Disney Company announces strategic reorganization of its media and entertainment businesses.

The Walt Disney Company (2021). 2021 Corporate Social Responsibility report [PDF file]. Web.

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