Page 147 - Harnessing the Management Secrets of Disney in Your Company

128 The Disney Way

of an unsavory connotation, an association with the tawdriness of pre-1950s
carnivals. It took the vision of Walt Disney to imagine a place that would
incorporate historical reconstructions, displays, and rides, and it took the dar-
ing of Walt Disney to build it into a world-famous tourist attraction.
The Disney experience illustrates how a company willing to take calculated
risks can advance the level of development of a product or service and, in the
process, reap huge rewards. But not all corporate executives and managers fall
into this enviable category. Too many opt for the safest route because they fear
failure or loss. They allow themselves to get bogged down in corporate bureau-
cracy, which can keep the management process from flowing as it should.
However, such behavior is not written in stone. Companies can change
the buttoned-down, risk-avoidance atmosphere that dictates status quo first,
innovation later—if at all. We have helped numerous leaders learn to priori-
tize their objectives and to take a holistic view of their companies, thereby
putting risk taking into the proper perspective. In this chapter, we will look
at how leaders who dare can take calculated risks and lift their organizations
to previously unimagined levels of achievement.

Solid Fundamentals Support Risk Taking
Psychologists might describe Disney as a born risk taker, someone whose fear of
failure was outweighed by the need to tackle new challenges. His more cautious
brother, Roy, often referred to him as “crazy” or “wacky.” But then Roy was in
charge of the family cash box, which in the early days his brother depleted with
alarming frequency, leaving it to Roy to persuade bankers to agree to new loans
or extend old ones.
The key point is that Walt, although politically and personally conserva-
tive by nature, accepted no conventional boundaries when it came to his work.
He was sure of his values and beliefs, sure of his own talent and that of his cast
members, sure of his instincts, and sure that if given the proper chance, this
outstanding combination would eventually prevail.
That is not to say that he jumped at every idea that came his way, but he
certainly didn’t hesitate to take a chance if a concept met his artistic and finan-
cial criteria. First and foremost, of course, any potential project had to pass
Walt’s trademark “entertainment” test. But if he felt that a project fit with his
vision, he would leap, often ahead of the pack.
Another business giant who is not afraid to take a chance to realize his
dreams is Lee Iacocca. His name is so inextricably linked to the Chrysler
Corporation that asking whether a particular car is a Chrysler or an Iacocca is