1. Why has Disney been successful for so long?

The Walt Disney Company has been successful for a long time, and the main
reason for that is that they recognize customer value and adapt to change. Walt
Disney invented Mickey Mouse in 1928, and in 1937, they released Snow White and
the Seven Dwarfs, a musical animated film that was a massive success for the
company. They took that advantage and expanded their business, namely, Walt
Disney Studios and motion pictures, Disney theme parks and resorts, Disney TV
channels, and Disney consumer products. Not only have they expanded their
business, but they have also expanded their target markets. They created characters
and stories that are also suitable for teens and adults. In 2003, they released a movie
called Pirates of the Caribbean, which was a blockbuster hit and an excellent movie
to watch when you are having family bonding. They made all of their businesses
connected. When they release a new film, and if that movie is a success, all of their
other companies will also see an increase in sales. For example, consider the film Big
Hero 6. After it was released and became a big hit, they will create toys and action
figures based on the characters in the movie, and they will also incorporate those
characters into their theme parks and resorts. So, the consumers who love that
movie will tend to buy those toys and action figures and visit their theme parks.
Disney still uses this kind of strategy even now. Disney now markets globally. They
never fail to give the customers the satisfaction that they want.

2. How did Michael Eisner increase his net income in his first 4 years?

After Walt Disney died, the company became gloomy. The company's performance is
not that good as before. In 1984, Michael Eisner joined the Disney Company and
became the CEO. Eisner began his career as an assistant at ABC before becoming
president and CEO of Paramount Pictures. The Disney company was in a tight spot when
he took over. Eisner maximized the revenue by creating movies that are also suitable for
teens and adults. He kept the operating expenses on a low budget when creating
movies. Eisner's strategy is: hire less expensive actors and directors and focus on making
a good concept for the film and making it with a low budget. With this, the risk of losing
a large amount of money will lack in case the movie falls flat. This strategy played a
significant role in making the company back on its feet. After four years under Eisner's
leadership, Disney became the leading entertainment industry. The revenue increased
by $500 million.