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HT Leadership Summit: Creativity has to have a symbiotic relationship with financial aspects, says Michael Eisner

18-November-2006
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HT Leadership Summit: Creativity has to have a symbiotic relationship with financial aspects, says Michael Eisner

The Hindustan Times Leadership Summit that got underway in the Capital on Friday has several world leaders, economists, and corporate honchos in attendance. One such distinguished guest is Michael Eisner, former Chairman of the Board of The Walt Disney Company, who shared his mantra on what it takes to become a financial success – financial box coupled with micro-management for any enterprise.

Speaking about the story of Walt Disney drawn from the concept of ‘Inside Box’, Eisner highlighted the success that creativity could bring to any business. He also highlighted the need to learn lessons fast and to evolve to succeed rather than being bogged down by them.

Stressing on the importance of weaving creativity around the financial box, he said, “Creativity is essential to any industry, not just animation. Creativity has to have a symbiotic relationship with financial aspects.”

According to him, as far as India was concerned, the animation industry in the country was still at its infancy. He also stressed that the advent of new technology in entertainment didn’t necessarily mean that it would eliminate the older technology.

Eisner further said that Disney had achieved success using the benefits of micro management. “We never lost a dime on a single movie, thanks to the financial box. Creativity can flourish within financial limits. It really works,” he maintained. Eisner added that at Disney, which was also involved in other activities, the financial box system had been deployed to achieve maximum benefits.

Quality, creative products and the ability to bond with customers was the mantra that Disney had adopted in every toy, movie, hotel room, ashtray, Broadway, credit card, etc. “Each of it is a dot that symbolises the Disney brand. The brand-friendly initiative is also reflected in our hotel initiative and each hotel is a financial box. We used whimsical icons to bring in creativity. In Star Cruise, it was a floating box. Creativity was witnessed in gambling that was introduced,” Eisner said.

Highlighting the importance of the Internet, he said, “The world has become a single dot. Time, money or language – the Internet has impacted every part of the entertainment industry. With a video and Internet one can be creative. Internet is the next platform for the entertainment industry. Fantastic things with tremendous potential are possible with the Internet.”

He concluded by saying, “Think inside the box, micro manage it and have a good time. That is what it takes to become a financial success.”

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