Most large companies have complex portfolios of businesses and brands. Strategic and marketing planning for such business portfolios can be a daunting but critical task. The Disney portfolio includes many Disney theme parks and resorts; Disney studio entertainment (production companies such as Walt Disney Pictures, Pixar, and Touchstone Pictures); Disney consumer products (from apparel and toys to interactive games); and Internet media businesses (including ESPN and the ABC Television Network). Similarly, Al Jazeera's portfolio consists of more than 25 business entities, ranging from multiple Al Jazeera news channels for specific regions and languages to dedicated channels for sports, children's programs, and documentaries. Al Jazeera has even developed the Al Jazeera Center for Studies, a think-tank that encourages research and analysis into political and economic changes affecting the Arab and Islamic world (see Real Marketing 2.1).
Business portfolio planning involves two steps. First, the company must analyze its current business portfolio and determine which businesses should receive more, less, or no investment Second, it must shape the future portfolio by developing strategies for growth and downsizing.