(Distinction) BTEC Business Level 3 Unit 1: Exploring Business Assignment 3. BTEC Business Level 3: Assignment 3 - Unit 1: Exploring Business. Distinction standard work on Amazon with great format and content.M5: Analyse how successful the use of innovation and enterprise has been for a given busin...
How important is innovation and enterprise to today’s businesses?
In this assignment I will be analysing how successful the use of innovation and enterprise
has been for a given business and I will be justifying the use of innovation and enterprise for
a business in relation to its changing market and environment. I will be doing these two
things so that I can determine how important innovation and enterprise is in today’s
business.
M5. Analysis of how successful the use of innovation and enterprise has been
for Disney.
Disney has always been a very influential company; they have made many innovations that
has contributed to the entertainment industry and have brought them great success. Disney
has managed to stay influential over the years because they are always influencing the
children to dream big and use their imagination. It was said in an article by myhero.com that
"Walt Disney did things that made other people do things, too, things that didn't seem
possible on paper. He had a way of bringing out the best in people, of lifting them to their
highest performance". To this day Disney continues to influence a variety of people through
the content that they produce all over the world, Disney plays a big role in shaping the mind
of young kids and helping them find out who they are in the world.
Ever since they have started Disney has been very innovative, which is a main reason for
their ever-growing success. Some of Disney’s innovations consist of, the first animated films
with synchronised sound and Technicolor, the creation of Disney+, and their biggest
innovation Disneyland.
Synchronised sound and Technicolour
Synchronised sound is sound effects that were simulated by a musician during a music
recording session. Disney were the first company to produce an animated film with
synchronised sound, they were able to do this with the creation of their short film
steamboat willie in 1928 and have continued to implement it into all of their animated films
ever since.
Technicolor is a series of colour, that a motion picture processes to create colour in
animated films. Disney was the first animation studio to create a cartoon with Technicolor.
They first used Technicolour in the creation of Disney's Flowers and Trees in 1932, this
animated short film ended up being the first animation to win an academy award.
Disney’s innovative use of synchronised sound and Technicolour really sky rocketed their
sales when they first released, because of this Disney contracted a whole bunch of new
customers who were constantly satisfied with their work because it was new so people
loved it, it also increased their customer loyalty because customers loved Disney even more
now. Disney was unmatched when they started using synchronised sound and technicolour,
which mean that they were only really competing with themselves.
, Disney+
Disney has created an online streaming service called of Disney+. Disney+ has been a huge
success in the short time that they have been around, this is because of all the different
types of old and new shows and movies that they offer. When Disney+ first came out they
released a show called the Mandalorian which was an instant success, it became the most
watched streaming show and during the release of its second season the show averaged
1.04 billion minutes-watched per week.
In the last 3 years that Disney+ has been released they have produced never seen before
numbers in the streaming service industry, from when Disney+ was released in September
2019 to April 2020 Disney+ contracted 50 million users in just eight months. Disney had the
number one highest customer satisfaction score, with a score of 80%, out of all streaming
services at the end of 2020 and the have been able to stay in the top three ever since, and
because their customer are quite satisfied their customer loyalty is also very high at 91%.
With Disney+ continuing to grow their competitive environment is getting more intense
because they are growing more and more every day and quickly rising to aver take the likes
of Netflix and amazon prime.
Disneyland
Disneyland is Disney’s biggest innovation, it was created in 1955 after Walt Disney looked at
other theme parks and decided that he was going to make on that is more family
orientated, because of this he created Disneyland with the idea to make it so it is inviting for
the whole family and every person would enjoy it, he made it so that the families that came
could meet his animated characters in real life in hopes to bring the magic from the tv into
the real world.
Statista shows that in 2019 18.67 million people attended Disneyland this is an increase
from the previous year, this shows that Disneyland’s ticket sales has always stayed on a
steady incline during its whole life other than 2020 because of the global pandemic.
Disneyland customers are almost always satisfied after a trip to the magical Disneyland
because no matter who you are there’s most likely going to be something there that will
make you enjoy your experience. Disneyland has a high rate of customer loyalty with 70% of
first-time visitors return to experience Disneyland again. The competitive environment
around Disneyland is relatively high with other big name such as universal studios and
SeaWorld also being huge in the theme park industry, but Disneyland is still one of the top
and it seems like it will always be that way.
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