Six Flags
Six Flags
Financial Crisis
Capitalistic Enterprise Business 10A Edward Bayone May 7, 2010
Table of Contents
A. Introduction B. Financial Crisis C. The Economic Environment D. Competition E. Changes F. Conclusion G. Exhibits H. Work Cited 3 5 8 9 10 12 13 15
“This year is very much about stabilizing the company and keeping it on the rails while at the same time pursuing growth avenues on the marketing and international front.” -Mark Shapiro, Six Flags CEO
A. Introduction Founded in Texas, Six Flags is the world’s largest regional theme park (by the quantity of properties it owns) that provides world class, thrilling entertainment for families, teens, and young adults. Since 1961, when Angus G. Wynne started the chain, millions of families have trusted Six Flags to offer friendly, clean, and safe service. Today, they boast that more than 25 million guests attend the parks annually. The name is a reference to the six flags that have been flown over to the state of Texas throughout history: Spain, France, Mexico, Republic of Texas, Confederate States of America, and the United States of America. Six Flags offers various forms of entertainment ranging from amusement parks, theme parks, water parks, animal parks, and festivals. However, the amusement park is definitely what Six Flags is most notable for with its record-shattering roller coasters that will have consumers’ adrenaline pumping. In each park, other products and services are offered through high-profile corporate partnerships with marquee global brands including Kodak, Kraft Food Inc., Nintendo, Papa John’s, Johnny Rockets, and Cold Stone Creamery. Six Flags constantly attempts to diversify its products by trying to offer new and safe roller coasters annually. As a direct result of its strategy of providing great service and a diverse array of entertainment, its key guest satisfaction scores reached all-time highs in 2007 for categories such as overall visit, park cleanliness, employee
Financial Crisis
Capitalistic Enterprise Business 10A Edward Bayone May 7, 2010
Table of Contents
A. Introduction B. Financial Crisis C. The Economic Environment D. Competition E. Changes F. Conclusion G. Exhibits H. Work Cited 3 5 8 9 10 12 13 15
“This year is very much about stabilizing the company and keeping it on the rails while at the same time pursuing growth avenues on the marketing and international front.” -Mark Shapiro, Six Flags CEO
A. Introduction Founded in Texas, Six Flags is the world’s largest regional theme park (by the quantity of properties it owns) that provides world class, thrilling entertainment for families, teens, and young adults. Since 1961, when Angus G. Wynne started the chain, millions of families have trusted Six Flags to offer friendly, clean, and safe service. Today, they boast that more than 25 million guests attend the parks annually. The name is a reference to the six flags that have been flown over to the state of Texas throughout history: Spain, France, Mexico, Republic of Texas, Confederate States of America, and the United States of America. Six Flags offers various forms of entertainment ranging from amusement parks, theme parks, water parks, animal parks, and festivals. However, the amusement park is definitely what Six Flags is most notable for with its record-shattering roller coasters that will have consumers’ adrenaline pumping. In each park, other products and services are offered through high-profile corporate partnerships with marquee global brands including Kodak, Kraft Food Inc., Nintendo, Papa John’s, Johnny Rockets, and Cold Stone Creamery. Six Flags constantly attempts to diversify its products by trying to offer new and safe roller coasters annually. As a direct result of its strategy of providing great service and a diverse array of entertainment, its key guest satisfaction scores reached all-time highs in 2007 for categories such as overall visit, park cleanliness, employee