How might a traditional retail company apply the innovative approach of launching a new service like Disney did with Disney+?

A traditional retail company can apply the innovative approach of launching a new service by first identifying a gap in the market or a unique value proposition. This could be a service that complements their existing offerings or caters to a new customer segment. The company should then invest in the necessary technology and resources to develop this service. It's important to communicate the vision and potential benefits of this new service to stakeholders, just as Disney did when launching Disney+. The company should also be prepared for short-term impacts on their traditional business, as the new service may initially compete with existing offerings.

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Launching a new streaming service like Disney+ was major risk. Iger had to explain to Wall Street this was an expensive project upfront, with more than 25 new series and 10 original films were slated to come out in the first year alone. But it would also inflict short-term damage on the bottom line as Disney effectively competed with itself in its traditional businesses.

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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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