...Theme Park Development Costs: Initial Investment Cost Per First Year Attendee – A Historic Benchmarking Study Kelly T. Kaak Rosen College of Hospitality Management University of Central Florida ABSTRACT There is an industry “rule of thumb” that when planning for the construction of a theme park, developers should anticipate investing $100 per expected first-year guest. In other words, if the goal is to attract a million paying guests per year, the total investment needs to equal $100,000,000. This ratio is quite common in the literature, but it has never been investigated formally. This study collected the initial investment costs of 52 parks built in the United States, converted that investment into modern dollars, and then divided that dollar cost by the first-year attendance figures. The overall mean or average among the subject parks was $109.61 invested per first-year guest. This figure is very close to the industry “rule of thumb” of investing $100 in construction costs for every desired first-year guest Keywords: theme park, development costs, attendance INTRODUCTION There is an industry “rule of thumb” that when planning for the construction of a theme park, developers should anticipate investing $100 per expected first-year guest. In other words, if the goal is to attract a million paying guests per year, the total investment needs to equal $100 million. This ratio is quite common in the literature, but it has never been investigated formally. This information...
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...SHANGHAI DISNEY: MILESTONE JOINT VENTURE Rita Lemoine Southern New Hampshire University Abstract This paper examines the significant collaborative efforts of both a U.S. multi-national corporation, The Walt Disney Company and its foreign socialistic counterpart, the Shanghai Shendi Group, Ltd. negotiation of an Equity International Joint Venture agreement. The paper will disclose the joint venture agreement, the financial structure, and funding arrangements for the construction of the Shanghai Disney Resort. Then a SWOT analysis will demonstrate the strengths, weaknesses, opportunities, and threats that could affect The Disney Company’s operations in China according to current economic, political, and legal policies regarding foreign joint ventures. Finally, an assessment of the cultural differences between the two companies in the form of managerial and leadership styles that could hinder the success of this joint venture. Keywords: Equity International Joint Venture, SWOT analysis, Cultural Dimensions SUMMARY OF THE WALT DISNEY COMPANY The Walt Disney Company, the leading producer of family entertainment for the past nine decades, beginning in October 16, 1923 when Walter Elias Disney “signed a contract with M.J. Winkler to produce” a series of cartoons, the early stages of The Disney Brothers Studios, founded by Walter Elias and Roy O. Disney. (Retrieved from “http://thewaltdisneycompany.com/about-disney/disney-history/1920-01-01--1929-12-31”). The...
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...Importance of Logo Design towards Brand Image The most utilized and the focal element of the corporate identity design is the corporate logo and basically logo is incorporated by all corporate identities because it is the first impression of the company. If it is utilized consistently well, a logo can come to incorporate the whole corporate image. Actually, great logos and identities, in the same way as great organizations, are adaptable (Rowden 2000). Other parts of corporate identity design, for example, color plans and typefaces, can be consolidated into the logo, making the logo illustrative of the bigger corporate identity plan even when it is shown in seclusion of other corporate materials (Stahle 2002). It is undoubtedly the look of the company emblem is incredibly necessary to the communication of a company identity. Organizations should deliberately create their logos to include the visual components with which they need to be related and to adequately pass on the suitable abstract ideas and corporate messages. This portfolio concludes the samples with evident among the logo designs of television stations to and analyze the effectiveness of their logo towards psychological principles and design theory. - write how the logo designs can be effective to boost the brand image. In order for logos design to be effective in strengthening and boosting brand image, they should be simple, timeless, versatile, memorable, and appropriate. Simplicity is a key role...
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...Accountability and Rhetoric during a Crisis: Walt Disney’s 1940 Letter to Stockholders Joel H. Amcrnic UNIVERSITY OF TORONTO and Russell J. Craig AUSTRALIAN NATIONAL UNIVERSITY ACCOUNTABILITY AND RHETORIC DURING A CRISIS: WALT DISNEY’S 1940 LETTER TO STOCKHOLDERS Abstract: In 1940, Walt Disney was faced with crafting a message of corporate accountability under duress. His company, the product of his creative genius, had been forced to submit to public accountability. It had a pressing need to raise preferred equity finance for a major expansion during a period of market uncertainty, war, and reported losses. This paper conducts a “close reading” of the “Letter to Stockholders” in Walt Disney Productions’ 1940 annual report, the first such letter signed by Walt Disney. The letter’s rhetorical features, including metaphor and ideology, are examined in the context of the times. What is revealed is an accountability document skillfully crafted with the exigencies faced by Disney’s company firmly in mind. The letter offers suggestive insight to the world as Disney made sense of it. The paper contributes to understanding the use of rhetoric by top management in activities related to aspects of financial accountability and reporting. It also helps to understand better a significant public persona of the 20th century, Walt Disnev. Acknowledgment The authors wish to acknowledge the helpful comments of the reviewers. SCOPE AND OBJECTIVES Analysis of annual reports, including letters...
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...CASE STUDY APPROCH Case study is an analytical system of examining ones understanding. Every case study invariably consists of the following elements. A. Introduction of the case B. A situation C. Solution for the situation D. Benefits E. Conclusion with specific inputs F. Issues to be discussed / addressed. HOW TO APPROCH A CASE STUDY-STUDENT PERSPECTIVE As a case needs to be studied analytically, the approach should also be in the form of analysis. THE FOLLOWING STAPES FROM THE PART OF ANALYSIS A. Read the case carefully from the beginning till the end. B. Underline the important features of the case which forms the fact. C. Write the facts which are identified collectively. D. Study the situation and identify them with the issue asked for addressing the situation. E. Provide individual options on the situation based on the solution indicated. INTRODUCTION OF THE CASE The Following case is dealing about the Tri-State Telephone Operation. Situation:- John Godwin, chief executive of Tri-State Telephone, leaned back in his chair and looked at the ceiling. How was her ever going to get out of this mess? At last night’s public hearing. 150 angry customers had marched in to protest Tri-State’s latest rate request. After the rancorous shouting was over and the acrimonious signs put away, the protesters had presented state regulators with some sophisticated economic analysis in support of their case. Additionally, there...
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... PALIBUT BALEN (insert town/ city name) (Font Andalus or Calibri 16/B) GEOGRAPHIC CULTURAL PROGRAM (Font Andalus or Calibri 16/ B) By (Font Andalus or Calibri 11) Berung Sasa LICADCAD 2345678 (Stud.No.) (Font Andalus or Calibri 12/ B) Marikit Potang MATUDTUD 2345678 (Stud.No.) (Font Andalus or Calibri 12/ B) Berung Sasa LICADCAD 2345678 (Stud.No.) (Font Andalus or Calibri 12/ B) Marikit Potang MATUDTUD 2345678 (Stud.No.) (Font Andalus or Calibri 12/ B) Mr. Joel Pabustan MALLARI (Font Andalus or Calibri 11) Adviser Indung Kapampangan Culture (YKAMP) (Calibri 12/B) College of Business and Accountancy (Font Andalus or Calibri 11) Holy Angel University (Font Andalus or Calibri 11) The sequence outline should be done as follows: I. Objective The objective should contain the purpose of the report material, expectation and even the delimitation of the report. At the end of this activity, every group is expected to gain and provide the following learning outputs: a. To appreciate and understand the immediate physical geographic background of certain Kapampangan “Balen”. This will provide an excellent learning experience of Kapampangan as “lugal” – the “Indung Tibwan” b. To provide a direct practice and application check of theoretical learning. This can be seen in the formulation and or making of modified profile and program especially in the field of tourism and socio-economic research maturity. II. Demography ...
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...The Walt Disn ey Compan y Successful Management Practices Prepared for: Professor Jessie Richards Prepared by: Alli Hock Date: April 18, 2012 2 Table Of Contents EXECUTIVE SUMMARY……………………………………………………………3 INTRODUCTION……………………………………………………………….…….3 BACKGROUND…………………………………………………..……………….....4 Biography………………………………………….…………………….4 Beginning Of Disney Bros. Studios...…………………………………..5 Development Of Management Style……………..……………….........5 The Dreamer………………………………………………………………....5 The Realist……………………………………………………………….…..5 The Spoiler…………………………………………………………………...6 ANALYSIS………………………………………………….……………….….…….6 Original Company Values………….…………………………………..6 Hiring The Best For The Job……………………………………………...6 Talent Within The Organization….…………………………………….…6 Exceeding Customer Expectations…..………………………………..…7 The Interview Process…………….…………………………………...7 Internship Program………………..…………………………………...7 Attitude…………………………..……………………………………..…. 8 Drawbacks to Selection Standards….……………………………..…...8 Employee Training Process…...………………………………….…...8 Figure 1-1. A Balanced Approach to Employment..……………..…….8 Disney Training Programs…………………………………….....…….9 Attention To Detail…………………………………………………...……9 Training Program Downside…………………………………..………….9 Figure 1-2. Disney Manhole Cover………………………………10 Creating Employee Environment……………………………….……..10 Being Involved At All Levels……………………………...…….……..11 Effects Of Management Focus…………………………..……..………..11 Ensuring Job Significance…………..…………………………………11 ...
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...Informative Outline Thesis: My audience will learn a brief history of the Disney Company and their plans to take new directions in the future. Introduction: Briefly tell the audience a short history of Disney and the plans they have for their company and plans for future ventures. Attention Getter: Disney first started out making cartoons but later ventured into major films, radio, television programs and even vacation packages. Now, Disney has acquired new companies and will journey into the world of many multi-media platforms, mainly video-gaming. Let’s take a look to see where the company is going with their new plans moving into the future. I. First main point: The foundation for Disney began with Walt Disney in the 1920’s. A. Cartoons marked the beginning of the Disney Company. 1. Visual aid: Use a picture of Mickey Mouse as the very start to the Disney Company. 2. The success of cartoon shorts sparked construction of Disney Studios. B. The success of features and cartoons made possible the ideas to build a theme park centered on the world of Disney. 1. Visual aid: Use a picture of Disney’s theme park, Disneyworld. 2. Explain that after the success of theme parks, merchandising became another big part to the evolution of the company. 3. Visual aid: Use a picture that represents some of the merchandise that Disney produced. II. Second Main Point: Where the company is today and what they have done to keep moving forward...
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...is active in emerging sectors like road projects, is in talks with World’s biggest theme-park operator is likely to partner in the project. | BSE | | | NSE | | Price | | | | | | | | | Also Read | | | | Related Stories | | | | News Now | | | | | - | OZ bets on Indians to triple tourism revenue | - | Plan panel, tourism ministry want 4-fold rise in sector outlay | - | F1 may turbo-charge tourism | - | Abu Dhabi tourism body eyes India after 7-city Europe tour | - | Incredible India attracts over 400,000 foreigners in June | - | ITDC posts 32% rise in sales in Q4 at Rs 105 cr | | | | | "We are in talks with the likes of Wonderland in Canada, Sentossa of Singapore, Disney and Malaysia's Genting for strategic partnership. However, we will finalise on a partner once we get the necessary approvals. We may also allow private equity players to participate," saidRajhoo Bbarot , managing director, Atlanta Ltd.The project will be spread across 3200 acres, all of which the company will buy from the Gujarat government at market price. The site identified at Suvali Beach, which has a 3.3 km stretch along the Arabian Sea coast, is located...
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...Question #1 – Why has Disney been successful for so long? The primary reason for Disney’s success is their understanding of a corporate strategy. Since its inception, Disney has successfully utilized its corporate strategy to diversify. This has enabled them to look forward into the future, as well as developing complimenting and cross-promoting business products. They are able to look into the future and foresee upcoming market trends. By expanding their line from movies to theme parks and even cruise ships, Disney has successfully diversified its corporate strategy over and over again. Their corporate strategy is also geared to people across a broad demographic. However, it is the genius of marketing toward children that helps to engrain the culture of Disney into young minds. Those youngsters grow older and pass their love of Disney onto their young children and Disney remains strong. Question #2 – Is Disney diversified along geographic and product lines? Disney is definitely diversified along both geographic and product lines. Disney has created value through various diversification strategies, primarily vertical integration and more specifically forward integration. They have diversified over geographic lines when they built hotels around the world, theme parks, not only in California and Florida, but also in Asia and Europe. Their cruise ships travel all around the world as well and they have over 200 retail stores in North America, over 100 in Europe and 50...
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...Walter Elias "Walt" Disney was born on December 5, 1901, in Hermosa, Illinois. He and his brother Roy co-founded Walt Disney Productions, which became one of the best-known motion-picture production companies in the world. Disney was an innovative animator and created the cartoon character Mickey Mouse. He won 22 Academy Awards during his lifetime, and was the founder of theme parks Disneyland and Walt Disney World. Early Life Walter Elias "Walt" Disney was born on December 5, 1901, in the Hermosa section of Chicago, Illinois. His father was Elias Disney, an Irish-Canadian, and his mother, Flora Call Disney, was German-American. Disney was one of five children, four boys and a girl. He lived most of his childhood in Marceline, Missouri, where he began drawing, painting and selling pictures to neighbors and family friends. In 1911, his family moved to Kansas City, where Disney developed a love for trains. His uncle, Mike Martin, was a train engineer who worked the route between Fort Madison, Iowa, and Marceline. Later, Disney would work a summer job with the railroad, selling snacks and newspapers to travelers. Disney attended McKinley High School in Chicago, where he took drawing and photography classes and was a contributing cartoonist for the school paper. At night, he took courses at the Chicago Art Institute. When Disney was 16, he dropped out of school to join the army but was rejected for being underage. Instead, he joined the Red Cross and was sent to France for...
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...Trial Assignment Name Institution Date Trial Assignment PART 1 Disney organization is the world’s best entertainment organization owing to several factors. This organization affects the lives of most Americans and people around the world through their films, theme parks and resorts. The company has been a key player in the film industry through its animations and other children’s films, this level of growth and identity comes with great wealth and financial strength to an organization like Walt Disney (Silverman, 2008). The financial security at Disney originates from several factors that the management considers as the pillars of driving the organization to higher levels of competition. Walt Disney uses several business standards that cover ethics and compliance to maintain a competitive spirit within the growing business of entertainment. This essay will explore the role of ethics and compliance in Disney’s financial environment. Ethics and compliance at Disney has helped in improving the general outlook of the business in three main areas. The firs area is employee appreciation. Most workers at the organization work with passion and enthusiasm because of the level of transparency and trust within the organization. The company incorporates trust by availing to each staff member a copy of the Standards of Business Conducts handbook to enable their role and relationship within the organization. They stress on this by taking online training and learning on ways of...
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...integrating art ideas into his works could be a probably factor that has made him experiment with paint to produced the ‘unfinished’ buildings. Basically, building is a form of art and from any artistic architecture, it can be confirmed that the building’s structure tends to be more poetic than a complete building. This may be the reason why Gehry created the ‘unfinished’ buildings such as his house; it was simply an appreciation of the more profound art. As Joyce elaborates, Ghery’s work has always been a portrayal of art. This is because Gehry has been able to follow his vision for art from the 1960’s via a ‘formal experimentation’ in LA houses to the eminent artistic expression phase that is currently characterized by buildings such as the Walt Disney Concert Hall as shown in the picture below and Bilbao. We cannot forget that we are in a techno-world where people want their emotions and imagination aroused, try new things, take up more tasking challenges and explore the world in a more...
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...Introduction: Monkeys, Mickey Mouse and Margaritas, are favorite words from my childhood one I have loved since childhood, and the other I enjoy as an adult. Body: I. My first word is Monkey. A. As a kid I had a fascination with monkeys 1. Wanted a spider monkey a. Got plenty of stuffed monkey instead. B. Monkeys are very social animals 1. However they are unpredictable 2. Destructive, expensive 3. Need a lot of attention C. Spider monkeys 2. Live in tropical rain forest 3. Have long lanky arms and gripping tails a. tails are up to 35 inches long 3. weigh 21 to 24 pounds II. My second work is Mickey Mouse A. Another childhood favorite of mine was, and still is, Mickey Mouse 1. Red shorts white gloves and big yellow shoes 2. Round mouse ears 3. Gets into mischief 4. Extremely imaginative B. First appearance in 1928 1. Steamboat Willie 2. Appeared in over 130 films 3. 9 of his cartoons were nominated for academy awards a. Lend a paw won in 1942 4. Became the first cartoon character to have a star on Hollywood Blvd. III. My last word is one I enjoy as an adult, Margarita. A. Good drink on a hot summer night 1. Applies to both sour and sweet taste buds. B. Margaritas can be made several ways 1. Most common tequila 2. Flavored liqueur 3. Lime or lemon juice C. Margaritas can be serve many ways 1. On the rocks 2. With a salted rim 3. Frozen 4. Straight up D. Have been around since 1950’s 1. Not sure who actually created...
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...location for Disney. Already, the company has been successful in Tokyo. While its park in Hong Kong has been less profitable, the company believes that further expansion into the region is worthwhile. However, the company faces a number of cultural challenges that must be overcome. Certainly language poses a problem for the company. At Hong Kong Disneyland, the company has chosen to be trilingual for example. In addition to dealing with language differences, Disney must also tailor other components to meet the local needs. The Hong Kong location includes more covered space to allow people to enjoy the park without dealing with the region’s rainy weather, special gardens for picture taking that appeal to the preferences of tourists visiting the park have been created, and the menu has been adapted to local preferences. Plans for the Shanghai location will incorporate Chinese cultural features as well as more traditional Disney themes. 2. How do cultural variables influence the location choice of theme parks around the world? Answer: Disney’s parks first and foremost promote Disney characters and themes. Visitors to the parks want to experience the Magical Kingdom. In Asia, Disney has encouraged acceptance and desire for all things Disney by exposing the population to its characters, films, and other products over time. This type of strategy facilitates the company’s efforts to then market its theme parks and reduces the need to customize its products and services. Disney does adapt...
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