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ToyTime Company Management Principles

Yuhong Dai

Abstract

This survey shows the some management problems in the ToyTime company. I am going to using SWOT model evaluate the condition (Question 2) and I am going to discuss management tools: KPI and SMART principleto resolving the problem in the future. (Question 3). I am going to also mention a few of my own ideas in the long run.

Introduction

The company relative to the situation in previous years want to start new playthings. However, along the way is not so smooth. They expect sales to increase by 10% this season, but because the marketing administrator Jacob Marks insufficient communication with the creation supervisor McConklin so because the organic material is insufficient to lead, the ToyTime company cannot supply new gadgets promptly.

Body of work

QUESTION 1: What management problems are clear in the ToyTime Company? Why have these problems took place? Will be the reasons related more to planning issues or to arranging issues in the business?

-First of most, the largest management problem is that the creation of new toys can not gratify market demand, I think it is because the marketing division and the merchandise department did not achieve a common goal. Because of the advantages of new gadgets and the most positive response in the last five years, therefore the marketing office have projected that sales will be 10% higher this season than last. However, the product department just planning to raise inventory, they don't have significantly more communication with the marketing office. So the raw materials insufficient and new toys and games production cannot meet up with the market demand. In my opinion, ToyTime Company have a tendency to be management planning issue rather than other functions concern.

Question 2: What's likely to happen to the company this year and in future years if the condition is not solved quickly?

-In this question, we can use the SWOT model examining the situation in ToyTime company. S-strengths, W-weaknesses, O-opportunities, T-threats. I'll use these four ways to analyze:

Strengths:

1-Creativity.

2-Popular products.

3-Popular brand.

4-More clients.

Weaknesses:

1-The goal is inconsistent.

2-The distributor is solitary.

3-All departments lack

communication

Opportunities

1-New toys development.

2-Demand is big.

Threats:

1-Competition.

2-Change in customer demand.

According to analysis, we can easily see these main issues;the company is single, lack communication, there maybe rivals in the foreseeable future. if the business not fixed quickly, then the company's economy will fall and they will lose potential clients. This might have a serious impact on the company.

Question 3: While using management tools mentioned in your course, give types of how each could be utilized to help solve the business's problems.

-I will using Key Performance Indication (KPI) to help solve the business's problems. Key Performance Indicator (KPI) is a measurable value that shows how effectively a corporation is obtaining key business goals. First of all, assign tasks in various departments and determine the performance indicators of the staff inside the department. This can bolster employees motivation. For instance, if the ToyTime company uses KPI as a management tool, first of all we assume one goal: overall income expansion is 10%. So each office manager has to achieve a consistent goal. Marketing director set the goal for sales expansion of 10%. At the same time, production managers are focusing on a 10%increase in development. Various departments work in accordance with the unified tactical goal to help goals to attain. Plus they can uses the SMART principle :S-specific means the goal must be specific. M-measurable means the target must be assessed. A-attainable means the goal must be performed. R-relevant means the goal needs to be related to other goals. T-time-based means the goal must have a clear deadline. As we know, whether it's set up by a group or someone's personal work goals they can make the SMART principle

Question 4:What might you recommend right given that can help take care of the issues being experienced by ToyTime? What should it do to stay away from the same type of problem in the foreseeable future?

I will recommend two ways :one for short-term solutions and the other for long-term alternatives.

The best solution in short-term :

  • Looking for a few temporary raw materials suppliers, make sure the new gadgets are available promptly.
  • The company can retain the services of temporary

employees because work needs to be done in a short time. Make sure employees work hours.

The best solution in long-term:

1. The departments will communication together, set a specific goal, assign tasks and interact plus they should make contingency plan in the foreseeable future.

2. ToyTime company could present yet another new toys next 12 months to draw in children. Use advertisers and Television set, get this issue.

Conclusion

Above all, it is suggested that the ToyTime Company can use KPI management tool to help solve the company's problems and can also be identify by the SMARTprinciple. The departments are working in one route to achieve the company's goals.

Executive Summary

Teamwork is the primary ingredient in an organization. Communication is the most part of teamwork, communication can solve the condition and the situation in the ToyTime company are mainly having less communication between your various departments. If the corporation want to solve the challenge quickly I believe they need to change some management methods. KPI and SAMRT rule are very useful management tools to improve management methods. But this is my personal opinion.

References List

https://en. wikipedia. org/wiki/SWOT_analysis

https://www. klipfolio. com/resources/articles/what-is-a-key-performance-indicator

http://wiki. mbalib. com/wiki/SMART%E5%8E%9F%E5%88%99

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