Disneyland Disney Is One of the Most

Disneyland

Disney is one of the most revered companies in the entire world. The company has excelled in many different areas including its Disneyland franchise. Disney success in this regard is due in large part to the type of corporate governance the company has embraced over the years The company presents these guidelines based on various subjects including but not limited to The composition of the board of directors, Functions of the board of directors, Implementation of the Guidelines, Board meetings, board leadership and Social Responsibility. As it pertains to reporting requirements the corporate governance guidelines explain that

"The Chief Executive Officer shall seek the advice and, in appropriate situations, the approval of the Board with respect to extraordinary actions to be undertaken by the Company, including those that would make a significant change in the financial structure or control of the Company, the acquisition or disposition of any significant business or the entry of the Company into a major new line of business (Functions of the Board of Directors, 2011)."

Disney also requires that a substantial majority of the individuals on the board of directors be independent from the company. This means that many of the directors have no material ties to the company, which has an impact on the decisions that are made in regards to the company.

In addition the company has placed a great deal of emphasis on succession planning. Succession involves the transitioning of one Chief Executive Officer (CEO) to the next CEO. Succession planning is important because it assist in guaranteeing that the new CEO can function appropriately in the role and that the transition is a smooth one.

Disney is also adamant about ensuring that it has the appropriate information to ensure that the best decisions are made for the company (Implementation of the Guidelines, 2011). In the context of the Disneyland franchise this means that the company is paying a great deal of attention to trends as it pertains to the number of people visiting amusement parks each year. The company will also pay a great deal of attention to the average ticket prices at parks and economic trends. This information assists the company in setting the appropriate prices for admission tickets based on the estimated number of visitors and the economic conditions that families are facing. This strategy is one of the reasons that the Disneyland franchise has been so successful over the years.

Although Disney's theme parks have received a great deal of recognition for their exceptional service and accommodations. The park has also had some problems at some of its theme parks. For instance, Hong Kong Disneyland has not received a great deal of fanfare. This lack of fanfare is due in part to the lackluster way in which the park opened and the limited attractions at the park. The park only has 16 attractions compared to the 52 attractions that are available to Disney Land visitors in Paris (Schuman, 2006). Some experts have asserted that the problems that the theme park has faced in Hong Kong is due in part to not carefully studying the Chinese market to determine what the public wanted to have available in a theme park. Although the company claims that the company is on track and that the current revenues are consistent with what the company predicted.

The corporate governance guidelines also call for timely action as it relates to the decision making process. This timely action is utilized to ensure that the company can make the correct decision in a specified time period. In so doing the changes that are made are consistent with the overall goals and strategic plan of the company.

Identifying risks is also a major issue for the company. Disney is able to identify risks through the careful scrutiny of the market and the economic climate. By analyzing the market the company can recognize increases or decreases in visitors to its sites. This information can then be used to adjust prices or to implement promotions strategies. Price adjustments are then used to encourage more visitors to come to the park. Additionally promotions are utilized to present visitors with good deals that will allow them to save money while still enjoying the attractions that the park offers. Through a proper evaluation of the economic climate the company can also make good decisions.