Planning a Future
Introduction
Galaxy Toys Inc. is a toy manufacturing business that is based in the United States with special emphasis on producing toys that match NASA technologies. The company has a strong management structure and business culture which helps its strategic arm to move into constant growth. But the recent stagnation of sales in 2015 at 3 percent led the management team to reconsider more innovation into technology based action toys, more specifically in the Moon Mission to Jupiter’s Europa (MMTJE1). The toy uses 3D technology and it is earmarked to increase sales by about 22 percent in 2017 once it is rolled. Management feels there is a need to consider SWOT and objective analysis for more in-depth analysis towards proper …show more content…
The company has a wide range of innovative workforce which it can use to infer more competitive …show more content…
Empowered employees have the benefit of reducing the cost of production because they own the decisions of the business and can be accountable for every mistake or fault made within the business. When employees are motivated to work within an organization the degree of disgruntlement reduces and this leads to lesser costs on human capital retention. The level of recruitment over shorter periods reduces and a culture of collaboration is retained. Thereby maximizing the potential of an organization. On the other hand, absenteeism reduces to a greater margin and management becomes a very easy task to accomplish. Moreover, this advantage is extended to outside customers and the whole community of Galaxy Toys Inc becomes very enjoyable of returns in sales.
Threats
Family run businesses is a threat in itself because in the case of a demise of one member replacing that functional unit becomes a challenge and many companies may end up collapsing. On the other hand, squabbles within the family may be extended to the business thereby hurting its strategic arm in the future.
Competition is limited but some of it may come from Kids Galaxy Inc in the United Kingdom when the firm decides to move overseas in production and sales.
The expansion is very expensive and the challenge of introducing a new line of product has
Introduction
Galaxy Toys Inc. is a toy manufacturing business that is based in the United States with special emphasis on producing toys that match NASA technologies. The company has a strong management structure and business culture which helps its strategic arm to move into constant growth. But the recent stagnation of sales in 2015 at 3 percent led the management team to reconsider more innovation into technology based action toys, more specifically in the Moon Mission to Jupiter’s Europa (MMTJE1). The toy uses 3D technology and it is earmarked to increase sales by about 22 percent in 2017 once it is rolled. Management feels there is a need to consider SWOT and objective analysis for more in-depth analysis towards proper …show more content…
The company has a wide range of innovative workforce which it can use to infer more competitive …show more content…
Empowered employees have the benefit of reducing the cost of production because they own the decisions of the business and can be accountable for every mistake or fault made within the business. When employees are motivated to work within an organization the degree of disgruntlement reduces and this leads to lesser costs on human capital retention. The level of recruitment over shorter periods reduces and a culture of collaboration is retained. Thereby maximizing the potential of an organization. On the other hand, absenteeism reduces to a greater margin and management becomes a very easy task to accomplish. Moreover, this advantage is extended to outside customers and the whole community of Galaxy Toys Inc becomes very enjoyable of returns in sales.
Threats
Family run businesses is a threat in itself because in the case of a demise of one member replacing that functional unit becomes a challenge and many companies may end up collapsing. On the other hand, squabbles within the family may be extended to the business thereby hurting its strategic arm in the future.
Competition is limited but some of it may come from Kids Galaxy Inc in the United Kingdom when the firm decides to move overseas in production and sales.
The expansion is very expensive and the challenge of introducing a new line of product has