Disneyland in Hong Kong Term Paper

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Disneyland in HongKong

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A multinational corporation is an enterprise that manages production establishments or delivers services in at least two countries (Wikipedia 2006). Multinational corporations or MNCs are horizontally integrated, vertically integrated or diversified. Horizontally integrated multinational corporations manage production establishments, which are located in different countries to produce the same or similar products. Vertically integrated multinational corporations do so to produce products, which serve as input to its production establishments in another country or other countries. And diversified MNCs are located in different countries, which are neither horizontally nor vertically integrated. Of the 100 largest economies in the world, 51 are multinational corporations and MNCs assert huge economic influence in politicians' representative districts and their extensive financial resources in public relations and political lobbying. MNCs also play an important role in globalization. Sometimes, regions must compete among themselves in order to have these MNCs and they do this by offering incentives, such as tax breaks, pledges of government assistance, improved infrastructure, or lax environmental and labor standards. The competition attracts foreign investment. The first MNC is believed to be either the Knights Templar, which was founded in 1118 or the Dutch East India Company. Examples of present-day multinationals are Apple Computer, AOL, Cadbury, Coca-Cola, Dell, Exxon, Ford, General Electric, General Motors, Google, Hewlett Packard, HSBC, IBM, McDonalds, Pfizer, Wal-Mart, Inc. And The Walt Disney Company (Wikipedia).

Term Paper on Disneyland in Hong Kong Assignment

Company Background - Hong Kong Disneyland Resort was built by the government of Hong Kong and The Walt Disney Company (Wikipedia 2006). It opened on September 12, 2005. The Resort consists of the Hong Kong Disneyland theme park, two hotels and retail, dining and entertainment facilities on 310 acres on Lantau Island. The hotels are Disneyland Hotel and Disney's Hollywood Hotel. The Resort stands on reclaimed land beside Penny's Bay at the northeast tip of Lantau Island in Hong Kong. It is currently managed by executive vice president Bill Ernest. The Hong Kong International Theme Park Limited was created in 1999 with Disney's investment of YS$316 million at a 43% equity stake and the Hong Kong government's owning the remaining 57% of the U.S.$1.8 billion project. Through this project, the Hong Kong government expects to provide 18,400 jobs to its people and 35,800 more in the succeeding 20 years. It also expects to reap economic benefits amounting to an estimated HK$148 billion or roughly 6% of its gross domestic product over 40 years of operation. In averting a similar problem, which developed in France, Disney exerted efforts to make this park in Hong Kong reflect local culture. It was said that feng shui consultants helped with the layout of the part and the grounds. Incense was burned with the completion of each building. One of the main ballrooms is 888 square meters large, since 8 is a favored number in Chinese culture for good fortune and the number 4 is skipped as it signifies bad luck. Disneyland employees speak English, Cantonese and Mandarin and undergo training at other Disney parks while the Hong Kong theme park was under construction. This Hong Kong Disneyland was the smallest among Disney's parks. Construction consisted of two phases. The government of Hong Kong stressed to the public and Disney that there was available land next to the resort for another theme park and many more hotels, which did not need to cost more than what Disney already paid for. Critics believed that the government hinted at selling the land to Disney's rivals, NBC Universal, Six Flags and Anheuser Busch, but considered it only an attempt at extracting more money from Disney because the government did not intend to have another theme park in the area. Construction is ongoing and projected to be completed in 2008. Presently, construction for another new Disney theme park will be started and to open in 2010 (Wikipedia).

Hong Kong - The Hong Kong Special Administrative Region of the People's Republic of China is one of the two special administrative regions of the People's Republic of China or PRC (Wikipedia 2006). The other is Macau. Hong Kong lies on the eastern side of the Pearl River Delta on the southeastern coast of China towards the South China Sea in the north and borders Guangdong Province in the north. It is among the most liberal economies and a major international center of finance and trade. It was a British colony from 1842 until its sovereignty was moved to the PRC in 1997. Basic Law guarantees it a relatively high degree of autonomy as a special administrative region until 50 years from the transfer of its sovereignty or in 2047. Under the "One Country, Two Systems" policy, Hong Kong retains its own legal system, currency, customs policy, culture, and immigration laws (Wikipedia).

Hong Kong Disneyland - Hong Kong Disneyland offers a world-class and unique family entertainment experience inspired by the original Disneyland in California but suited to local culture (Disney.com.hk 2006). It features some of the best and classic attractions and entertainment from other Disney parks around the world. It is designed for visitors to leave the outside world behind for a while and enter a world of "yesterday, tomorrow" and fantasy. It is located on Lantau Island, 30 minutes from the Hong Kong International Airport and can be reached in 30 minutes through mass railway transport from Central Hong Kong. Park hours vary and visitors are advised to check the calendar and events on the company's website. Hong Kong Disneyland has the advantage of warm climate so that guests are advised to wear or bring light clothing, sunscreen and umbrella. Attractions are for all ages, but young children must be accompanied by an adult. Some rides require minimum height. Hotel packages and park tickets are offered at published rates and guarantee park ticket availability during one's stay (Disney.com).

The Company issues and uses a FASTPASS ticket system to save time on lining up for a specific attraction and enjoy the Park better (Disney.com 2006). This ticket comes free with admission when the admission ticket in inserted in a FASTPASS Distribution Machine at a designated attraction. The ticket limits the time for a specific attraction, date and time of issue (Disney.com).

The Company requires all visitors and their bags, parcels and other belongings to security checks at the admission or elsewhere in the Park (Disney.com 2006). They are also required to show courtesy to one another and the members of the cast; refrain from unsafe, illegal, or offensive language or behavior; use proper attire; smoke only in appropriate locations; and present tickets for entry. Dangerous or hazardous materials; food, alcoholic beverages and canned or bottled beverages; carts and other wheeled carriers; and pets are not allowed into the Park. Likewise prohibited are selling goods or services or their display for sale; the distribution of printed materials of any kind; un-authorized events, demonstrations, speeches or public gatherings within the Park; the display of flags, banners or other emblems; and photography, videotaping, recording of any kind, broadcast or transmission for commercial purposes; acts, which may interrupt Park operations (Disney.com).

The Walt Disney World Resort, which licenses Hong Kong Disneyland is located 15 miles southwest of Orlando, Florida, has the four theme parks, namely Magic Kingdom, Epcot, Disney-MGM Studios and Disney's Animal Kingdom (Disney.com 2006). It also includes hotels; vacation ownership units; a retail, dining, and entertainment complex; a sports complex; conference centers; camp grounds; golf courses; water parks; and other recreational facilities designed to make visitors extend their stay. The destination resort is marketed by a network of national, international and local advertising and promotional activities. Magic Kingdom consists of seven themed lands, namely, Main Street USA, Adventureland, Fantasyland, Frontierland, Liberty Square, Mickey's Toontown Fair, and Tomorrowland. Each land offers a unique experience through themed rides and attractions, live character interaction, restaurants, refreshment areas and merchandise shops. Daily parades and spectacular nighttime fireworks accentuate this experience. Epcot consists of Future World and World Showcase themes. Future World dramatizes historical developments and addresses challenges confronted by today's world through major pavilions designed to showcase science and technology improvements, communication, energy, transportation, one's imagination, life and health, nature and food production, ocean environment and space. On the other hand, World Showcase presents a community of nations focusing on the culture, traditions and accomplishments of people throughout the world. Disney-MGM Studios consists of a theme park, an animation studio, and a film and television production facility. It focuses on Hollywood in the 30s and 40s and features Disney animators at work and backstage in addition to other attractions, themed food service and merchandise. It also features Fantasmic, a night time entertainment spectacular. And Disney's Animal Kingdom consists of a 145-foot Tree of Life, surrounded by six themed areas, namely Dinoland USA, Africa, Rafiki's Planet Watch, Asia, Discovery Island, and Camp Minnie-Mickey. Each of these contains adventure attractions, entertainment shows, restaurants, and merchandise shops. The Park displays more than 200 species of animals and 4,000 varieties of trees and plants on more than 500 acres of land (U.S. Securities and Exchange… [END OF PREVIEW] . . . READ MORE

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