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Hong Kong Disneyland Essay

1847 words - 8 pages

INTRODUCTION
            This is a report analysis of Hong Kong Disneyland. This analysis will examine the effect of the national culture of the Hong Kong in relation to the business operation and other several various factors of that affects the business conduct of chosen industry. The industry chosen by the writer is Hong Kong Disneyland (Disney, for brevity). Hong Kong Disneyland was a theme park built and operated by a new-joint venture company, the Hong Kong International Theme Parks Ltd. (HKITP), as formed by the Hong Kong Special Administrative Region Government and the Walt Disney Company.
            The author uses Disney as the subject of the paper as it is a new in the business ...view middle of the document...

It can be inferred that taxation issues is not an important issue because it is perceived by the author that because the government owns majority of its stocks the government will not therefore impose tax on its own business.
ANALYSIS
            This section will use the cultural dimension of Hosted.
PORTER’S DIAMOND
            According to Porter the following are the four determinants of national competitive advantage: firm strategy, structure, and rivalry: factor conditions; demand conditions; and related and supporting industries.            It was found out that the company strategy is to relay advertise that its theme park is an answer to the dream of being in a magical land. The demand conditions can be inferred from the need of the people to be more offered with good services such as transportation. The Supporting industries of the corporation are the selling of Disney products, which could serve as souvenirs. The factor conditions are the well trained and accommodating staff that can Cantonese and English. The Hong Kong government may not have any arrow that would interrelate with all the factors however, such is positioned in order to have a clears view on the performance of the business, taken into consideration that the Hong Kong government owned majority of the stocks.
 
RESOURCE AUDIT
            Strategic analysis using resource audit identifies the resources available to a business. Some of the resources of the company may be owned and other resources can be obtained from joint ventures or from supplier arrangements with other business. The author will focus on this part to determine the value, extent, and use of its assets.
            EXISTING FINANCE FUNDS
On December of 1999 the Hong Kong Government, the Walt Disney Company, and the Hong Kong International Theme Parks Limited signed a project agreements on implementation of Hong Kong Disneyland. Disney is partly owned by the government of Hong Kong, which is holding the biggest part of the stocks, representing 57% while Walt Disney has only 43%. The government formulated the financing structure in order to inform the public on how the Government, as Disney majority stockholder, will allocate its resources for its funding with the establishment of Disney. According to Edgar Online (2004), Walt Disney revenues from advance theme park ticket sales are recognized when the tickets are used. Revenues from corporate sponsors at the theme parks are generally recognized over the period of the applicable agreements commencing with the opening of the related attraction. The parks, resorts and other property are carried at historical cost.    
Thus, it can be inferred that the extent of the value of its assets also derived on its long-term value. It does not only depend on the income on its current situation. Furthermore, Disney values the need to preserve its assets in order to prolong the benefit it can derived from such assets.
            ABILITY TO RAISE NEW FUNDS
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