All The President s Men By Bob Woodward And Carl Bernstein

All The President s Men by Bob Woodward and Carl Bernstein tells the story behind the Watergate scandal. It all started with a burglary at the Democratic headquarters, but proved to be something much more complex. This story tells how two reporters worked with sources to uncover deceit in the highest levels of government. On June 17, 1972, Woodward was asked to cover a story for his job at the Washington Post. There had been a burglary at the Watergate hotel. When he arrived at the newsroom, he discovered that this wasn t an ordinary burglary, and he wasn t the only one reporting on it. The burglars had broken into the headquarters of the Democratic national committee in the Watergate office-apartment-hotel-complex. Bernstein had the same assignment. The two men had no appreciation for each other. At the trial, Woodward realized that there might be more to the story. Bernstein did some research of his own while he was taking a few days off of work. He interviewed others and observed that the White House wasn t the well-oiled machine it came across as being. Some viewed the President s men with scorn. On June 22, President Nixon publicly stated that the White House had no involvement with the particular incident, Watergate. The reporters, now working together, noticed that he used the words this particular incident. Powerful men resigned from their jobs, and Bernstein and Woodward learned about a secret fund used to undermine Democratic political campaigns usingShow MoreRelatedWas All The President s Men By Carl Bernstein And Bob Woodward Essay1382 Words   |  6 PagesThe book I chose to do my book review on was All The President s Men by Carl Bernstein and Bob Woodward and throughout the report I will discuss the power that the press has. On June 17, 1972, the United States had changed for both journalism and politics. A common break in was failed as the downfall of President Richard Nixon was eminent, while two young journalists from the Washington Post Carl Bernstein and Bob Woodward had risen to their glory of the biggest reporting story of their careersRead More All the Presidents Men Essay example854 Words   |  4 PagesAll the Presidents Men The movie â€Å"All the Presidents Men† (1976), is based on the work of Bob Woodward and Carl Bernstein two Washington Post newspaper writers, who uncovered the cover-up of the White Houses involvement in the Democratic Party National headquarters, Watergate, break-in. At first, Bob Woodward discovers what seems to be a minor break-in but is surprised to find that top lawyers were already on the defense case. He also discovers that names and addresses of Republican fundRead MoreAll The President s Men1140 Words   |  5 PagesAll the President s Men can be seen as an historical document describing journalism during the 70’s. Along with this, we learn how paranoia affects individuals and the publishing process. The film also gives us some insight on how American institutions such as newspapers and the government are viewed. Some opinions vary, due to paranoia or belief in a conspiracy. The film covers the major political scandal known as Watergate, and the subsequent in vestigation and reporting through Bob Woodward andRead MoreAll The President s Men1718 Words   |  7 Pages150: Media and Society 7 December 2016 All the President s Men versus Everyone Else The Watergate Scandal is arguably one of the worst cases of illegal activities where a President has abused public trust, presidential power, and deliberately obstructed justice. President Richard Nixon had committed and attempted to cover up those illegal activities through harassment, impediment, and denial; however, Washington Post reporters Bob Woodward and Carl Bernstein uncovered details of the Watergate scandalRead MoreFilm Analysis Of All The Presidents Men1270 Words   |  6 PagesAnalysis of All the President s Men All the President s Men, the 1976 film directed by Alan J. Pakula, is a detective thriller that portrays the story behind the Washington Post reporter s Bob Woodward and Carl Bernstein s Pulitzer Prize winning relentless pursuit of the Watergate conspiracy. It initially started as a local burglary story and eventually led to the resignation of President Nixon. Over 40 years after Nixon s resignation, the Academy Award winning film was shown on July 14, 2017Read MoreAll The Presidents Men Ap Government Paper1371 Words   |  6 PagesAll the Presidents Men All the presidents men begins on June 17 1972 when five burglars broke into the Democratic National headquarters, which was located at the Watergate Hotel. Most of the Newspapers disregarded the story as just another break in but Two reporters for the Washington post stuck with the story till the End. The two reporters named Carl Bernstien and Bob Woodward realized that this break in was some how involved in the up coming election but they did not know how. Their firstRead MoreCarl Bernstein And Bob Woodward846 Words   |  4 PagesCarl Bernstein and Bob Woodward were dedicated young reporters at the time Watergate occurred. There dogged pursuit for the truth kept the story from falling into obscurity. Woodward was a relatively new reporter at the time, a Yale graduate, and a Navy veteran. Bernstein dropped out of college and he started working in the newspaper industry at the age of sixteen. By age nineteen, he was a full-time reporter for the Washington Star. Although they were young, and Woodward had not even been a PostRead MoreMovie Review : Norma Rae904 Words   |  4 Pagesidea of the movie is shown in it’s slogan:  «The story of a woman with the courage to risk everything for what she believes is right ». Movie is filmed believable and realistic, and this stor y really touches everyone. We see how regular people, like all us, are working hard from early morning to night in a textile factory in intolerable conditions and get a pittance. Nobody cares about them, and these people work like robots. The main character of this story, Norma Rae, meets a man from the Union,Read MoreFilm Critique of All the Presidents Men1541 Words   |  7 PagesOpening in theaters around the United States in April of 1976, All the Presidents Men paints quite an accurate account of American journalism yet at the same time is a suspenseful adventure that manages to entertain and inform its viewers. Vincent Canby, a reviewer for the New York Times called the movie, an unequivocal smash-hitÂâ€"the thinking mans Jaws. Because the film is written from the perspective of Bob Woodward and Carl Bernstein, the movie works as a blockbuster, and not just a documentaryRead More Film Critique of All the Presidents Men Essay1497 Words   |  6 PagesOpening in theaters around the United States in April of 1976, All the President’s Men paints quite an accurate account of American journalism yet at the same time is a suspenseful adventure that manages to entertain and inform its viewers. Vincent Canby, a reviewer for the New York Times called the movie, â€Å"an unequivocal smash-hit—the thinking man’s Jaws.† Because the film is written from the perspective of Bob Woodward and Carl Bernstein, the movie works as a blockbuster, and not just a documentary

Essay about The Role of Fashion Promotion Within the...

The Role of Fashion Promotion Within the Fashion Industry I am going to write about what the role of fashion promotion is within the fashion industry and discuss how it might develop in the next five years. To do this I shall review what fashion promotion is by defining it and finding out how, when and where it started. To understand what fashion promotion really is in a contemporary context I shall broadly look at how it is used and what many forms it has taken since the beginning up until the present day. To look at how fashion promotion may develop in the next five years I shall analyse and critique specific examples in more detail, such as finding out how these specific types of fashion promotions are used, by whom and for what†¦show more content†¦Before this, soirees took place in stores; chairs would be put out people would come and watch the shows inside the shop; this still happens today for instance Topshop will put on a catwalk of their latest collection inside their flagship store on Oxford Street. However contemporary fashion shows are as much about being seen at the event as they are about what is being shown on the catwalk. The audience wants to feel important and exclusive and the front row seats show status. There is also more press coverage now about the clothes themselves, which is the reason why designers make extreme and un-wearable clothes. Current fashion participates in an economic system that is developing very differently from its nineteenth-century origins, which pioneered the techniques of retail and advertising to promote the garment. Now the fashioned garment circulates in a contemporary economy as part of a network of signs, of which the actual garment is but one. (Bruzzi S. Church Gibson P. (eds). 2000. P.96) We need to understand the fashion industrys cyclical nature in each historical period and its technical development to see how fashion promotion has developed into the forms existing today. Changes in womens influence and power, money supply, changing tastes and interests in sports, shapes, and ongoing cultural issues and events such as terrorism andShow MoreRelatedEssay on The Role of Fashion Promotion Within the Fashion Industry1822 Words   |  8 PagesThe Role of Fashion Promotion Within the Fashion Industry In an age where fashion and technology is constantly evolving it is important that we take a step back and take a look at the current happenings in the promotional side of the fashion industry. The fashion show,a key tool to making designers collections accessible to its consumer, will be the main focus of this essay. We shall define fashion promotion before looking at how the catwalk sits under this title. A brief history of the fashionRead MoreWhat Is the Role of Fashion Promotion Within the Fashion Industry, and How Will It Develop in the Next Five Years?1862 Words   |  8 PagesWhat is the Role of Fashion Promotion Within the Fashion Industry, and how will it develop in the next five years? I am going to write about what the role of fashion promotion is within the fashion industry and discuss how it might develop in the next five years. To do this I shall review what fashion promotion is by defining it and finding out how, when and where it started. To understand what fashion promotion really is in a contemporary context I shall broadly look at how it is used and whatRead MoreCaroline Le Bon s Fashion Marketing Essay1402 Words   |  6 PagesCaroline Le Bon’s Fashion Marketing and Harriet Posner’s Marketing Fashion, defines fashion marketing and its elements. Fashion marketing and advertising is the process of analyzing, developing and marketing current fashion trends to satisfy consumer needs. Both or the readings discuss the role of marketing in the fashion industry and its differences to marketing other products. Fashion products are often trended items, temporary items based on design color, fabric and pattern. Le Bon and PosnerRead MoreAnalysis of th e Fashion Industry1301 Words   |  6 PagesFashion is one of the world’s most important creative industries. It has provided economic thought with a canonical example in theorizing about consumption and conformity. Social thinkers have long treated fashion as a window upon social class and social change. Cultural theorists have focused on fashion to reflect on symbolic meaning and social ideals. Fashion has also been seen to embody representative characteristics of modernity, and even of culture itself. Everyone wears clothing and inevitablyRead MoreSupply Map Chain Essay847 Words   |  4 Pagesmix helps the fashion designer to control the target market. The distributor of the finished garment later determines how the product would distribute throughout the department and discount stores. The target market will help the designer to assess the success of the garment. The selection of the garments plays a volatile role in the supply chain because without the right garment/r aw materials the finished product may not result to the vision of the designer. â€Å"The fashion industry is characterizedRead MoreMarketing And Advertising Of Fashion Marketing Essay1413 Words   |  6 Pagesadvertising play a critical role in the fashion industry; they are various activities involved in building consumer relationships and stimulating consumer purchases by satisfying their needs. The primary goal of fashion marketing is evident: supplying the right merchandise, to the right customers, at the right time, in the right place. Often confused as marketing, Advertising is a subset of marketing; it is a single component of promotion in the marketing mix. The process of fashion marketing is difficultRead MoreZara Is A Modern Day Fashion Business Model960 Words   |  4 Pagesmodern day fashion business that takes an unconventional approach in their business model. Zara is one of the largest international fashion companies which belongs to the distribution group called inditex. They sell well made relatively cheap pieces of clothing that is always cut according to the latest fashion designed. Their customers are the heart of their designs, productions, distribution and sales. Just like all fashion companies, their primary goal is to be the number one fashion retailer.Read MoreThe Marketing Strategy Of Sydney1507 Words   |  7 PagesFirst of all, Lapse has to promote the brand initially in order to increase the visibility and awareness of the brand from 3% to 75% in 12 months. The selection of Sydney is part of the strategy to establish the brand’s first store in one of the main fashion market in Australia. Second, create an experimental and environmentally intelligent line of clothing and accessories to serve the needs of men in order to increase the number of people who make a purchase while shopping at the markets or browsingRead MoreFashion Promotion in 5 Years Essay1727 Words   |  7 PagesWhat is the role of fashion promotion within the fashion industry, and how will it develop over the next 5 years? Fashion promotion is the glue that holds together everything fashion related. Its all very well having a great designer who can create stunning garments out of fabulous materials, but fashion promotion is what advertises those garments, and sells them, and puts them out there for the world to see. If there werent photographers and buyers and journalists and stylistsRead MoreDesign Ideas, Creativity And Technique1546 Words   |  7 Pagesactivism will be easily accessible within the field of design. The vision lies in the motion and therefore a lot of design activists are enhancing their designs to a benefit the communities and improving the environment and on the other hand the designs, which are not conceptualized most of the times, lead to many social problems like homelessness or youth unemployment. Discussion Design activism becomes a hot topic from the past several years. Every fashion and variety in the world fades away

Critical Analysis on Security Concerns - Free Samples to Students

Question: Discuss about the Critical Analysis on Security Concerns. Answer: Introduction: The concept of integrity, confidentiality and availability can be considered as CIA trait, which is nothing but a model which is implemented for the purpose of guiding the information security within any form of organization. In this case it can be stated that the concept of the confidentiality is the privacy aspect I the ATM machine. The PIN number are designed for the purpose of security so that any type of authorized person do not have the access to the account of the user. Safeguarding the data from any type of intrusion can be considered one of the most vital aspects in such cases. In order to achieve the security of the data there always should be a backup plan, which can be implemented if there is any type of problem relating to fire or natural disaster management (Fernandez Alexander, 2016). The ATM machine consist of many keys, which have specific operation related to it. In this case, a thief has entered and broken some of the keys in the machine. In this case, we would be using the aspect of permutation and combination in order to get the answer. 5P4 = 5! / (5-4)! = 5! /1! = 5*4*3*2*1/ 1 =120/1 =120. Therefore, it can be stated here that total number of possibility outcome in a particular situation would be 120. On the other hand, it can be mentioned that the security aspect of the ATM does allow only three tries to every user to enter their PIN and after the third PIN the card would be blocked automatically. So taking this into consideration the number of try that the theft can make is three. This is due to the factor that after the third card he would not be able to make the next try (Farooq et al., 2015). The main reason behind the reluctant use of the biometric machine are as follows: Privacy is one of the factor, which play a vital role in this aspect. It is seen majorly that there are different type of privacy issue, which are formed in the different type of technology, which are used in daily life. If somehow the server of the biometric is breached it can result in a big problem which cannot be resolved very easily. Any kind of error may lead to false rejection. The main concept which is applied to the aspect of the biometric is that the personal detail of the person would be stored in the database ones the person tries to access it, the data from the database would be accessed. If the user were located in the database, the person would be allowed or else rejected. In some cases due to false functionality the user who have the information in the database are rejected and they cannot access Lack of accuracy can also be a problem in such type of system. The concept in such a case is the false identity. It can be seen sometimes that a person with the false identity of another person would be granted entry. This may result in different types of illegal activity. The risk factors, which are stated above, can be removed with the use of multifactor biometric management. The concept is beneficial in a way that help the actual user to be identified quite easily and help the system to make to wise decision (Choi et al., 2016) The false negative thing in the concept of the biometric is that if the system rejects the identity of a particular person. It can be a problem due to the aspect of authentication, which is applied to the concept. Depending on the incident, there can be different types of illegal activities, which are performed. In most of the cases, the people using the identity of another person usually involve in different type of unethical activities. When the biometric system is implemented in, the organizational level and it lead to problem it can shut down the overall infrastructure of the organization. Encrypted Text N T J W K H X K Corresponding numeric value 14 20 10 23 11 8 24 11 Key 2 3 4 2 3 4 2 3 Decoded from the substitution cipher 12 17 6 21 8 4 22 8 Caeser cipher shift 3 3 3 3 3 3 3 3 Decoded from the caeser cipher 9 14 3 18 5 1 19 5 Decoded Text I N C R E A S E Encrypted Text A M K Corresponding numeric value 1 13 11 Key 4 2 3 Decoded from the substitution cipher 23 11 8 Caeser cipher shift 3 3 3 Decoded from the caeser cipher 20 8 5 Decoded Text T H E Encrypted Text W W U J J Y Z T X Corresponding numeric value 23 23 21 10 10 25 26 20 24 Key 4 2 3 4 2 3 4 2 3 Decoded from the substitution cipher 19 21 18 6 8 22 22 18 21 Caeser cipher shift 3 3 3 3 3 3 3 3 3 Decoded from the caeser cipher 16 18 15 3 5 19 19 15 18 Decoded Text P R O C E S S O R Encrypted Text M W K X Z K U H E Corresponding numeric value 13 23 11 24 26 11 21 8 5 Key 4 2 3 4 2 3 4 2 3 Decoded from the substitution cipher 9 21 8 20 24 8 17 6 2 Caeser cipher shift 3 3 3 3 3 3 3 3 3 Decoded from the caeser cipher 6 18 5 17 21 5 14 3 25 Decoded Text F R E Q U E N C Y References Choi, H. S., Lee, B., Yoon, S. (2016). Biometric authentication using noisy electrocardiograms acquired by mobile sensors.IEEE Access,4, 1266-1273. Farooq, M. U., Waseem, M., Khairi, A., Mazhar, S. (2015). A critical analysis on the security concerns of internet of things (IoT).International Journal of Computer Applications,111(7). Fernandez, A., Alexander, K. M. (2016). Data Privacy and Confidentiality.iURBAN: Intelligent Urban Energy Tool, 35. Havenetidis, K., Paradisis, G. P., Karanasiou, I. S., Tsekouras, G. J. (2015). An investigation of an Artificial Neural Network method for personal identification using kinematic parameters from specific body parts.Journal of Applied Mathematics and Bioinformatics,5(3), 125. He, D., Wang, D. (2015). Robust biometrics-based authentication scheme for multiserver environment.IEEE Systems Journal,9(3), 816-823.

The Walt Disney Company Case Study Essay Example

The Walt Disney Company Case Study Essay BUSMRH 4490 Strategic Management Case 2 The Walt Disney Company: The Entertainment King Kaitlyn Kisiday Alex Maicks Chelsea Parker Jonathan Russ Ryan Terek 1. ) Why has Disney been successful for so long? Disney has sustained prolonged success for a variety of reasons. One source of success was the way Walt and Roy Disney decided to manage the company internally when the organization was founded in 1923. Disney emphasized teamwork, communication, and cooperation in the workplace to make employees feel valued and strengthen their commitment to the company. These values remain at the core of Disney’s corporate culture, and have been formally incorporated into their new-hire training program at the company’s corporate university. With the use of animation, Disney can control an entire entertainment experience, unlike actors, because cartoon characters and their environment can be created and controlled by imagination. Disney’s most distinct corporate skill, according to former CEO Michael Eisner, is the ability to manage that creativity. Eisner encouraged innovative ideas and was protective of the company’s creative efforts even at their earliest development. Emphasis on this development allowed Disney to take advantage of opportunities in the market and often become the first mover. Disney has proved successful at determining which advantages would be sustainable and which should only be temporary. The main contributors to prolonged success have been the results of the key strategic decisions made by the organization regarding diversification. Disney has used diversification to create additional sources of revenue beyond cartoon shorts and feature films by expanding vertically into television, theatre, retail, and the internet. We will write a custom essay sample on The Walt Disney Company Case Study specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Walt Disney Company Case Study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Walt Disney Company Case Study specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Creating divisions outside production, such as Disney Music Company, Disneyland, Disney Cruises, and DisneyQuest, created cross-promotional opportunities among Disney’s products, services, and strengthened the brand itself. Disney’s ability to effectively manage both vertical and horizontal integration into a wide array of business activities and projects continues to drive the company’s progress and profit. 2. ) What did Michael Eisner do to rejuvenate Disney? Specifically, how did he increase net income in his first four years? Michael Eisner entered Disney as CEO in 1984, and committed his efforts to producing annual revenue growth and return on stockholder equity in excess of 20%. He also pledged to strengthen the Disney brand and protect corporate values of quality, creativity, entrepreneurship, and teamwork. Believing that â€Å"managing creativity† was Disney’s most unique corporate capability, Eisner was to able harness Disney’s creative and innovative capabilities to maximize profits from new and existing operations. Rebuilding the strength of their television programming and films was an important part of this strategy. Disney increased its presence on network television to re-establish Disney as a producer of quality programs, and increase demand for Disney’s other entertainment ventures. The Disney Sunday Movie, debuted on ABC in 1986, and was followed by the popular Golden Girls on NBC, and production of syndicated non-network shows. Disney also increased their screen presence and generated revenue by selling older programs to other networks through a newly created syndication operation. A struggling movie division produced two films, held only 4% of box office share, and generated a profit of only a $1 million 1984 [Exhibit A, page 6]. To increase film output, Eisner used the Touchstone label to compete in new segments of the film industry, predominantly comedies, without diminishing Disney’s core audience. These films were produced on moderate and closely managed budgets with intent to be profitable rather than to become the next box-office juggernaut. Disney also increased the output of their animated films though investment in new technology and human capital and the decision to release these films every 12 to 18 months, versus every 4 to 5 years. After four years, the Disney film division reached an averaged output of 15 to 18 films per year, produced the highest earning film in 1988, Who Framed Roger Rabbit, and became the market leader with 19% box office share. Most impressively, income from the movie division grew from $1 million in 1984, to $34 million, $54 million, $131 million, and $186 million in each corresponding year. Income from Disney theme parks increased more than 200% during Michael Eisner’s first years, from $186 million in 1984 to $565 million in 1988 [Exhibit A, page 6]. New national advertising, increased park capacity, expanded hours of operation, and increased ticket prices contributed to the short term increase, while investments in new attractions, event spaces, and hotel development would help sustain steady profits into the future. In 1984, income from consumer products totaled $54 million [Exhibit A, page 6]. The new leadership and direction of the company under Michael Eisner from that time renewed the strength of Disney’s brand equity. A stronger brand supported development in the consumer products division of the â€Å"retail as entertainment† concept. The Disney Store, launched in 1987, achieved twice the average rate of sales per square foot in the retail industry. By 1988, income from consumer products totaled $134 million, increasing by more than 140% during Eisner’s first years as CEO. Successful leadership by Michael Eisner at Disney’s top resulted in financial success at Disney’s bottom line. Disney’s net income increased from $242 million in 1984 to $885 million by 1988. Over the same period of time, income growth averaged 40% each year, and Return on Equity reached 24% and 25% in 1987 and 1989, respectively. 3. Does Disney pursue vertical integration? Apply transaction cost economics to understand Disney’s vertical expansion decisions. Disney pursued vertical integration in a variety of ways. Aside from cartoon shorts and animation films, Disney expanded to enter the television, internet, and theme park markets with creations such as Disneyland, DisneyQuest, and the Disney Channel. Disney saw the internet as a possible distribution channel for its film library and its sports and news programming. Disney believed that the internet would soon be where entertainment in the home consolidates. Disney also pursued forward vertical integration. Disney ended their relationship with distribution partner RKO in 1953 and created Buena Vista to save distribution costs for their animated films. Disney was able to save ? of their gross revenues due to this decision to distribution their movies themselves. Disney also further improved the bottom line by avoiding exorbitant salaries by developing the studios own pool of talent. Disney also employed forward integration through the initiation of Disney Stores. This provided Disney with a wholly owned retail outlet to distribute product through that generated sales per square foot at twice the average rate of traditional retail. Disney Stores allowed Disney total control of customer experience and brand management in that space. The EuroDisney project is an example of Disney’s use of vertical disintegration. Although responsible for the design, development, and operation of the park, Disney did not have a majority ownership. Investment from outside parties limited their initial investment and share of risk. Disney chose to give up sole claim to the profits of EuroDisney in exchange for a fixed percentage of ticket sales and revenues. In many its operations, Disney employs a vertical integration strategy because it eliminates much of the transaction costs that come from working with the market, such as the possibility that the markets may fail. Creating contracts is another cost, as contracts take time and are difficult to form in a way that satisfies both parties involved, in an attempt to cover all possible contingencies. In addition, companies have their own, unique motives. When working in the market, there is always risk these other companies will work in their own favor as they come across opportunities that only benefit them. Also, Disney is very committed to holding to their values. This may create another cost in the form of conflict because they may come across differing views and cultures with other companies that do not run their business the same way. 4. ) What corporate strategy does Walt Disney employ? Identify and explain all types of diversification/integration within Disney’s overall corporate strategy. Disney employs both vertical and horizontal integration as part of their corporate strategy. The Walt Disney Company pursues a highly differentiated strategy, operating primarily in five distinct segments: Theme Parks and Resorts, Consumer Products, Media Networks, Studio Entertainment, and Internet and Direct Marketing. Theme Parks and Resorts is Disney’s second highest grossing segment. Included under this segment are all Disney Theme Parks, with the exclusion of EuroDisney, and all other resorts and resort activities. Sports teams, the Anaheim Mighty Ducks and the Anaheim Angels, as well as regional entertainment facilities like ESPNZone and DisneyQuest, are within this business line. Media networks, Disney’s highest grossing business line, can be broken down into two subcategories: Broadcasting and Cable Networks ; International. Broadcasting consists of ABC Television and Radio Network along with associated TV and Radio stations. Cable Networks and International includes ESPN, Disney Channel, Toon Disney, and SoapNet. Various newspapers and periodicals acquired through the ABC merger also fall into this business line. Studio Entertainment is a very diverse segment including: Television, Film, Home Video, theatrical, and music production, as well as, distribution and syndicated TV. Disney has created or acquired multiple movie production companies including Walt Disney Pictures, Touchstone, and Miramax, each company producing a very distinct product with a separate target audience. A similar pattern is identifiable with Disney’s various music production companies; each produces a distinct product with a distinct target market. Television production includes program development in the form of live-action, animation, and pay television services. Consumer Products consists primarily of licensing arrangements with various retailers, promoters, and publishers, where Disney allows third parties to use â€Å"Walt Disney†, Disney characters, and other intangible properties for specific purposes. Consumer Products also includes Disney Stores, Disney’s direct retail outlet. Finally, Disney also produces books, magazines, and audio and computer software for entertainment and educational purposes. Internet and Direct Marketing includes all of Disney’s’ online activities as well as the Disney catalogue. This includes entities such as the Disney catalogue, ESPN. om, Disney. com, GO. com, Etc. Aside from all the aforementioned business activities, Disney is or has been involved in many more projects and lines of business. Disney started an in-house travel company to work with travel agents and airlines to draw customers to Disney Parks and Resorts. Disney created the Disney Development Company to find the best way to utilize Disney’s unused acreage. Disney also has been involved in timeshares, night clubs, theatre operations, Disney On-Ice, and the Disney Parade. 5. ) Evaluate the benefits and costs of each type of diversification. From this analysis state and justify (through quantitative analysis) whether Disney is creating or destroying value via diversification? After analysis, Disney has an obvious benefit of diversification, mainly because it allows them to expand their initial business idea into several different markets. Disney was able to take a relatable set of characters and ideas in the film industry, and not only maximize the profits from those characters in the form of amusement parks, resorts, and other entertainment facilities, but also expand their business into other markets which may seem nrelated. While the initial start-up cost and recurring operating costs of theme parks, studios, and media networks are high, they have proven to be one of Disney’s highest grossing business ventures. For example, in 2000 theme parks generated $6. 803 billion in revenue and operating income of $1. 62 billion [Exhibit A, page 6]. These theme parks help create and support much of the Disney brand that p eople think of today, which is one of their strongest sources of value. In the media networks, Disney earned $9. 615 billion revenue in 2000 and produced an operating income of $2. 98 billion. The benefit of this venture is that Disney is able to spread their brand across the country by reaching cable audiences with the Disney Channel and ESPN stations, as well as local viewers, after their purchase of ABC. Once again, the costs and risk of creating a channel and buying a major television channel comes with high cost, yet Disney is still able to make a profit from this segment of their business. While the film industry had revenues of $5. 994 billion, expenses for the segment are high as they only saw an operating income of $110 million. This is one of Disney’s original lines of business, but it appears Disney has peaked in this segment. Even though profits aren’t as high as other segments of their business, the benefits of this segment still outweigh their costs. Additionally, due to the relatively cheap cost of consumer products line, in 2000 Disney was able to record an operating income of $455 million and with revenues of $2. 622 billion. Disney benefits by selling products related to their highly desired brand, and for a relatively low cost. Unfortunately for Disney, their internet and direct marketing line saw an operating loss of ($402) during 2000, the fourth consecutive loss for this segment. Disney once again tried to carry success over from their well established brand into a new segment. However, the costs and demands of owning and running an internet and direct marketing line appear to be outside of Disney’s core competencies. Even though they may have foresight to predict the importance of e-commerce in retail, Disney has yet to make a profit of this segment. Further supporting the benefits of Disney’s diversification is Disney’s Index on the S;P 500, having reached over 1,000 for the last three years of data provided (1998-2000. ) These marks were the highest Disney has ever reached in this Index, according to the data provided, and achieved at the height of Disney’s diversification. This upholds the position that Disney does produce value through its diversification into many different business ventures. 6. ) Which expansion modes have Disney utilized to implement its corporate strategy? Use facts from the case to identify the benefits and costs of each expansion mode. Disney has pursued three primary forms of expansion: Vertical expansion, Horizontal expansion, and Geographic expansion. Vertical and Horizontal expansion refer to Disney’s various product and business lines, and geographic expansion refers to Disney’s physical presence. Disney owns or has licensed parks on three different continents. By expanding geographically, Disney has become one of the most recognized brands in the world, in large part due to their physical presence. By having operations in multiple counties in several parts of the world, Disney is able to gain expertise and knowledge that can help it more closely connect it to its target market. Creating new parks, resorts, or other entertainment facilities carries huge initial start-up costs and recurring fixed costs. It also adds numerous employees and operations that can become difficult to manage efficiently. Expanding horizontally allows firms to take advantage of economies of scale by lowering the average cost per unit by spreading fixed costs over greater production. Another key advantage is the potential to gain new distribution channels. Following the ABC merger, Disney gained over 20 radio stations and many print media outlets. Seemingly, the primary motivation for Disney to integrate horizontally appears to be for economies of scope. Economies of scope is the utilization of a wider array of available resources to new create synergies. After Disney merged with ABC, they were able to utilize economies of scope through cross-promotion. They could advertise and tie-in Disney products on the acquired ABC media outlets and vice versa. Another advantage of vertical integration, made obvious through the merger with ABC, is the gain in market share. Though not stated explicitly, it’s not difficult to image that Disney may have gained substantial power in negotiations with cable and satellite television providers after merging with ABC. A major cost of horizontal integration comes from a new, bloated company. Departments become redundant across the organization, and the company becomes inefficient. Acquisitions like this also are accompanied by months and months of paperwork that ultimately distracts from the company’s primary operations. Disney and ABC were forced to mesh together two distinct corporate cultures. This can irritate and de-motivate employees, ultimately causing further inefficiency. Vertical expansion can create better coordination within the supply chain. When Disney created its own distribution company, Buena Vista, they were able to directly control all operations involved in the distribution of their media, eliminating the potential costs of negotiations and hold-ups. Another benefit captured by creating Buena Vista was the ability to capture downstream profit margin. Vertical expansion could eventually lead to Disney gaining more core competencies. Achieving lower unit cost, better coordination, and increase in core competencies create higher entry barriers for potential competitors. Vertical integration can also cause a firm to become too large and complex to efficiently manage. Owning and operating completely different business’ under the same corporation requires expertise in many different areas be successful, which can be a substantial cost. Exhibit AThe Walt Disney Company Financial Data, 1983 – 2000 ($ millions)