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History of Walt Disney Essay

Slide 1, 2, 3, 4: History of Walt Disney

              Walter Disney founded the company in 1923 when he created an animated film version of Alice in Wonderland. Mickey Mouse was born in 1928. Walter wanted to name him Mortimer, but his wife Lucy suggested Mickey and the name stuck. Can you imagine Mortimer Mouse?  1930 brought a demand for products with Mickey’s picture. One of the first products was a notepad featuring a picture of Mickey Mouse on each page. Walter Disney died in 1966, so he was able to see the opening of Disneyland, but he died before the opening of Disney World in 1971. Since 1923, Disney has gone from a small studio to a huge publicly-held corporation with four independent business segments.

Slide 5: Business Segments

            Studio pictures: The Chronicles of Narnia: The Lion, The Witch and The Wardrobe grossed over $100 million its first weekend and 748,806,957 total worldwide (including DVD sales)

Slide 6: Parks and Resorts:

            Disneyland China set to open in 2007

Slide 7: Consumer Products

             Disney has gone from one character with a few products to toys books, and the popular Baby Einstein series.

Slide 8: Media Networks

            Disney purchased ABC Media in 1996, which includes

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ESPN. Today, ESPN is worth the total amount they paid for ABC! Clearly, a good investment.

Slide 9, 10, 11: Letter to Shareholders

            Roger Iger took over as CEO from Michael Eisner in 2005. This is his first letter to shareholders.

 His three strategic priorities are:

1. Creative innovation

                                   2.  Global expansion

                                   3.  Application of technology

In order to meet the global expansion priority, Disney is set to open a new resort in China.

Slide 12: Management Analysis – Business Segment Performance – Media

            Media Networks is Disney’s strongest performer, with revenues coming from the top-rated shows on ABC as well as revenue from ESPN.

            Studio entertainment did not have a good year, but series such as The Chronicles of Narnia and the return of The Nightmare Before Christmas are expected to bolster revenues in this area.

            Parks and Resorts had a good year, as more guests are coming to the parks and resorts and tend to stay longer than they have in previous years. The plan for 2006 is to decrease expenditures in order to increase net profits.

            Consumer Products

            While this division had a good year, gains are expected when Disney steps up its mobile service.

Slide 15: Management Analysis – Free Cash Flow

            While revenues are increasing, so is spending and debt accumulation.

Slide 16: Management Analysis – Shareholder Returns

            2005 represented Disney’s 50th consecutive year of dividend payments to shareholders.

Slide 17: Management Analysis: Outlook

            Disney will invest more time in technology in order to compete with the current video games and mobile services on the market.

Slide 18: Management Analysis: Reconciliations

            While Disney is borrowing less, they are still spending a great deal. Disney needs to reduce its costs at this point.

Slide 19: Management Analysis: Forward-Looking statements

            This section of the annual report is a disclaimer stating that the information is true

at the point the report was published, but forecasts and assumptions as to performance in

2006 may not be accurate. After all, they’re not psychics.

Slide 20: Corporate Responsibility

Environmentality is a Disney-coined word that expresses its mission: The Walt Disney Company is committed to balance environmental stewardship with our corporate goals throughout the world.  Disney’s founder, Walter, wished to balance their interests with the interests of the community and environment at large.

EnvironmentalityTM is a fundamental ethic that blends business growth with the conservation of natural resources. This part of Disney’s corporate responsibility is represented by Jiminy Cricket.

Slide 21: working capital: this is the amount of money that Disney has to build its business. There was a drop in working capital from 2004 to 2005, which indicates that they have less money to work with.

Total assets:                53158        53902

minus liabilities            30491        27943

25333       25959

Slide 22:  current ratio.

How well can Disney meet its debt obligations?

Disney can easily meet its debt obligations, though the current ratio has decreased due to a decrease in working capital.

Slide 23:  profit margin.

The gross profit margin is the amount left over after costs have been subtracted from revenues. Disney has a good profit margin for both years, though this time 2005 has the better profit margin.

Slide 24:  asset turnover.

In 2005, Disney made .60 in sales for every dollar of assets. In 2004, they made .57 in sales for every dollar of assets. Sales are increasing, though only slightly.
Slide 25:  return on assets.

In 2005, Disney generated 4.7% profit for each dollar of assets. This is an increase from 2004, where Disney generated 4.3%.
Slide 26:  debt to equity.

How well can Disney borrow and repay money?

The current ratio is 21, decreased from 25. Disney needs to watch its borrowing activity in order to remain liquid.

Slide 27:  return on equity.

This shows how much of a profit Disney earned in comparison to the shareholder’s equity. Most publicly-owned companies have an ROE between 10 and 15 percent.

For 2005, Disney’s ROE was 8.5, down from 10.88 in 2004. Disney’s profit has decreased.

Disney Facts (in case you need more to say):

The Alice of Lewis Carroll’s stories was a real little girl: 12-year-old Alice Liddell, daughter of a colleague. Carroll originally told the story to Alice herself while on an outing on July 4, 1882, a day that is considered as important to the history of English literature as that date is to American history.

“Cinderella” was based on the French version of the tale as recounted by Charles Perrault in “Histoires ou Contes du Temps Passé

101 Dalmations: For viewers who find it difficult to discriminate between so many adorable spotted pups, here’s a few tips: the boy pups wear red collars (like their father, Pongo) and the girl pups wear blue (like Perdita). Patch has a black patch around his eye, Lucky has two black ears and a horseshoe-shaped spot pattern on his back (as well as an insatiable appetite for television), Rolly’s a bit pudgier than the others, Freckles has a few spots sprinkled on his nose, dainty Penny has the fewest spots of all … and for the rest, you’re on your own.

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