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Critical Thinking for Business Decisions: Disney

Coursework Instructions:

In 50–100 words, briefly describe Disney, its mission, and its history. Why is Disney important? What has it accomplished?
In 100–200 words, analyze Disney’s diversification plan. How has Disney diversified in the past? Have prior diversification plans been successful? What is the current diversification plan? What is it trying to accomplish?
In 100–200 words, assess the role of critical thinking in Disney’s business decisions. What is critical thinking and why is it crucial to decision making? What evidence do you have that Disney has used critical thinking to make decisions in the past?
In 100–200 words, describe the role of logic, evidence, and arguments in Disney’s diversification plan. What elements of the plan show that the company engaged in critical thinking when making decisions? How did facts, opinions, and published reports influence the company’s decisions? Use evidence from the company document and from your research to support your explanations.
In 50–100 words, explain whether you think Disney’s decision to reorganize or expand products, services, or the supply chain was successful. Why or why not? What steps do you believe the company took to diversify? Explain your response using sources you found during your research on Disney.

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Critical Thinking for Business Decisions
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The mission and vision of Disney and its value.
Disney, officially known as the Walt Disney Company, is a multinational entertainment corporation headquartered at Burbank, California. The company was established in 1923 when Roy Disney and Walt Disney opened the Disney Brothers Cartoon Studio in Hollywood, California.  In the United States, Disney is considered to be more important than a mere business entity. The company has preserved American values by incorporating American folk history into films and theme parks (Sandlin & Garlen, 2017). Disney’s success is influenced by its mission, which drives employees to entertain, inform, and inspire people using the power of unparalleled storytelling.
Diversification plan of Disney
Since its establishment, Disney has expanded and diversified by investing into theme parks, cruise lines, live entertainment, TV broadcasting, and residential communities. The biggest acquisition that Disney made was the purchase of 21st Century Fox for $71 billion in 2019. The close relationship between the various businesses that Disney has added to its portfolio indicates that the company is using a related diversification strategy. Related diversification encompasses diversifying into markets and businesses whose value chains align with the value chains of the businesses already owned by a company (Dhir & Dhir, 2015). By utilizing a related diversification startegy, Disney is attempting to leverage its strategic fit and enhance its core competency of producing unparalleled films. Disney’s diversification strategy has proved to be highly successful because out of it’s approximately $47 billion annual revenues, 54% is generated from entities that are not directly linked to film production (Yang, 2019).
Role of Critical Thinking
Critical thinking involves examining situations from various angles, gathering and questioning sources of data, and identifying deceiving reasoning. In businesses, critical thinking plays an influential role in recruitment and hiring, assessment of financial statements, board discussions, and maintenance of good public relations (Liedtka, 2014). Like other business entities, Disney has utilized critical thinking, especially during diversification and reorganization. For instance, in 2018, Disney reorganized its businesses into four segments; (1) Studio Entertainment, (2) Direct-To-Consumer and International, (3) Media Networks, and (4) Parks, Experiences, and Consumer Products (Wasko, 2020). At face value, this move is similar to simply grouping the various businesses that Disn...
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