Robert Iger's approach to management has significantly influenced the strategies of the Walt Disney Company. He believed in trusting his employees and empowering them to make decisions. This approach fostered a culture of responsibility and ownership, which has been instrumental in the company's success. For instance, during the planning of the Hong Kong theme park, he trusted the local team to decide on ticket pricing rather than imposing decisions from the headquarters. This approach has helped the company to adapt to local conditions and make decisions that are best suited for specific situations.

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The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company

Chairman and CEO of the Walt Disney Company, Robert Iger, tells his story and lays out the principles that successfully guided the legendary brand thr...

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A good manager also trusts his/her people. Early in his tenure as CEO, Iger was asked to join a meeting about ticket pricing at the soon-to-be-opened theme park in Hong Kong. He canceled the meeting, saying that the people actually on the job in Hong Kong didn't need HQ to tell them how to price things, they should be able to figure it out for themselves. And if they couldn't, then they shouldn't be on this job.

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The case study of ticket pricing at the Hong Kong theme park underlines the importance of trust in management practices. The CEO, Robert Iger, demonstrated trust in his team's ability to make decisions about ticket pricing without interference from headquarters. This approach implies that managers should empower their teams to make decisions, fostering a sense of ownership and responsibility. It also suggests that if a team is not capable of making such decisions, they may not be the right fit for the job. This case study broadly implies that effective management involves trust, empowerment, and the right team selection.

Robert Iger's approach to trusting his employees can be implemented in real-world scenarios outside of the Walt Disney Company by empowering employees to make decisions. This can be done by providing them with the necessary tools and information, and then trusting them to make the right decisions. This approach not only fosters a sense of ownership and responsibility among employees, but also encourages them to think critically and independently. It's important to note that this approach requires a culture of trust and open communication, where employees feel safe to make decisions and learn from their mistakes.

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