【正文】 y World EPCOT Disney/ MGM Studios Animal Kingdom, Disney America Hotel development Disney Institute vacations Resorts Cruise lines, planned munities Tokyo Disney land Euro Disney KCAL–TV Hockey Baseball Live theatre Hollywood Pictures Hollywood Records Filmed entertainment Theme parks Vacations, resorts property development Live entertainment Broadcasting Merchandising, music, and publishing I. Why grow II. The evolution of growth portfolios III. What great growers do Characteristics of successful growth panies Commit to growth Cultivate entre preneurship Build growth engines Commit to growth The right to grow Stretch targets and values Commit to growth Cultivate entre preneurship Build growth engines Earn the right to grow ?Achieve and sustain operational excellence ?Divest unprofitable or distracting businesses ?Build the faith of investors and financiers Commit to growth Cultivate entre preneurship Build growth engines The right to grow Stretch targets and values Divest unprofitable or distracting businesses ‘90% of the Sara Lee Corporation of 1974 is gone.’ (22 significant divestments in past 15 years) John Bryan, CEO ‘. . .We divest any part of the business we are not happy with . . .we are very disciplined. We are convinced that the benefits of worldwide leadership are so great that we can’t afford to waste time, money, and management talent where that leadership is not achievable.’ Alfred Zeien, CEO ‘We have divested in the eighties $10 billion worth of marginal businesses and made $19 billion of acquisitions.’ Jack Welch, CEO ‘We do not hang onto businesses where we cannot be Number 1 or 2.’ Richard Gibb, President, Signal Division Winning confidence of shareholders at Disney Strategy Target audience Example Major shareholder, Sid Bass ? Eisner and Wells flew to meet Bass after 2 days on job to gain his support Broader investment munity Active participation in ‘Disney magic’ Individual shareholders Concerned investment munity Oneonone discussions Roadshow presentations Targeted press conferences ? Eisner, Wells, Katzenberg held brokers meetings to gain support for Silver Screen film financing ? Annual general meetings are a big family event at Anaheim (1984 attended by ~8 000) ? When Disney faced a series of disruptions (Wells’s death, Katzenberg’s departure, Eisner’s heart surgery), it held press conferences Raise the bar through stretch targets and values ?Set stretch targets – Killer financial targets – Inspiring aspiration that evolves over time ?Balance with strong values Commit to growth Cultivate entre preneurship Build growth engines The right to grow Stretch targets and values Inspiring aspiration ‘You really need to articulate a vision and will it to happen. Our people get intoxicated with a vision. That vision is charged by something that is dreamdriven and gives the anisation direction for the future.’ ‘One key objective—to be the world’s premier packaging pany.’ ‘Be the world’s premier entertainment pany.’ ‘To better humanity as the world’s leading health care pany.’ ‘I want to build a business that can grow forever.’ Build growth engines Commit to growth Cultivate entre preneurship Build growth engines Opportunity pipeline Platform of capabilities Expansive mindset Embrace an expansive mindset ?Recognise and utilise 7 degrees of strategic freedom ?Break constraining mindsets ?Broaden traditional market definitions – Industry boundaries – Geographic boundaries – Business system boundaries Commit to growth Cultivate entre preneurship Expansive mindset Opportunity pipeline Build growth engines ?Fan anisational passion Platform of capabilities Moves into new petitive arenas Existing petitive arena vs Expansion into new geographies Existing geography vs Improvement of industry structure Existing industry structure vs Innovation in value delivery system Existing value delivery system vs Innovation in products and services Existing products and services vs New customers Existing customers vs Seven degrees of strategic freedom Current business Gillette’s seven degrees of st