Page 29 - Harnessing the Management Secrets of Disney in Your Company

10 The Disney Way

in 1923, it’s doubtful that even Walt himself could have foreseen that the
Disney interests would one day extend to movies, television, Broadway
theater, amusement parks, and a vacation club (not to mention the nation’s
largest laundry facility at Walt Disney World).
Disneyland, which recently marked its fiftieth anniversary in the year
2005, draws ever more guests from the far reaches of the world, and Walt’s
way has made such an impression on guests at Walt Disney World that over
70 percent of them are repeat visitors!
Disney’s financial record is equally impressive. It continually proves
to be a solid investment. One thousand dollars invested in Disney stock in
1984, for example, would be worth nearly $25,000 today, representing an
18 percent compound annual growth rate. By comparison, a similar invest-
ment in the S&P Index of 500 stocks would be worth a little over $8,000,
representing a 12 percent compound annual growth rate.
Such is the power of Walt’s way: Dream. Believe. Dare. Do. You too can
incorporate those words into your business vocabulary by following the 10
concepts that are at the heart of the Disney methodology:

1. Give every member of your organization a chance to dream, and tap
into the creativity those dreams embody.
2. Stand firm on your beliefs and principles.
3. Treat your customers like guests.
4. Support, empower, and reward employees.
5. Build long-term relationships with key suppliers and partners.
6. Dare to take calculated risks in order to bring innovative ideas to fruition.
7. Train extensively and constantly reinforce the company’s culture.
8. Align long-term vision with short-term execution.
9. Use the storyboarding technique to solve planning and communication
problems.
10. Pay close attention to detail.

For Terry Dischinger of Dischinger Orthodontics in Portland, Oregon,
Walt’s principles are at the core of his success:

I’ve used the Dream, Believe, Dare, Do motto in orthodontics for
years. We are innovators. I dream what I would like to do, I believe
that it can happen, I dare and then I find a way to do it. That has
allowed us to develop products and treatments that were not avail-
able in the orthodontic industry prior to our dreams. I can’t imagine