Term Paper on "Global Toy Product"

Term Paper 3 pages (1174 words) Sources: 0

[EXCERPT] . . . .

GTP/Fun Foods

The biggest change needed by GTP would be an improved sales and profitability reporting system for its various divisions and lines of business. It is odd - and quite unacceptable - that GTP would have no idea how the Fun Foods division was performing and whether it was suffering losses that were impacting GTP profitability. So, GTP immediately needs to implement a better sales and profitability reporting procedure that would be monitored by the company's top management on a regular basis. And GTP's overall management procedures were seemingly weak as well. Division manager Isaac Wander was able to essentially overhaul the entire division and implement harmful strategies without anyone knowing. Clearly, GTP top management needs to implement a regular reporting procedure that would keep it better informed of major strategic initiatives at its divisions.

Closing or restructuring Fun Foods were not GTP's only options, although it is clear that these are the only options that GTP's Board of Directors were willing to pursue. One option, obviously, would have been to maintain the status quo, and to allow the company to continue draining profits. The other option would have been to keep Fun Foods at its present staffing level and to attempt the restructuring without downsizing. This would have conceivably caused more pain in the short-term. For example, sales would have initially decreased while the company shuttered many of its distributor relationships, but costs would have remained the same. GTP's problem, in essence, was fairly simple: the company needed to find a way to improve profitability at Fun Foods while preserving the division's, and the parent company's, reputation. The GTP Board decided there were only two acceptable ways to do that (shutting the division or downsizing), even though there were obviously more options.

3) Numerous factors likely influenced GTP's decision to try to restructure and fix Fun Foods. The most important factor, obviously, must have been that GTP's Board believed the division could, in fact, be fixed. To arrive at this conclusion, GTP's Board would have had to look at: sales figures (pre- and post-acquisition); costs, and whether they were in line with production and sales; any clear management problems that perhaps were impairing the division's performance; sales and marketing efforts, and whether key markets were being pursued correctly; any problems with the product itself or how the product was getting to market; and what the impairment to the company's reputation would be if the division was closed.

The two main benefits that would have followed closing the division pertain to costs and opportunity costs. The cost benefit would have been that GTP could have quickly stopped the financial pain being caused by the Fun Foods division. The other benefit would have been that GTP could have spent its management talents and energies on improving other areas of GTP's core business. Obviously, turning around a division takes a great deal of time and effort.

4) Reassigning employees would take close communication with division heads and human resources personnel. There are some obvious reasons for this. First, we need to keep division heads in the loop because they know best what their current personnel needs are, and what types of qualifications and strengths they are seeking. They also would be aware of issues like people in their division resigning, retiring or being promoted, which would create open positions. Naturally, human resources should be aware of these things as well. Human resources also can serve as a liaison among several divisions, knowing whether a position was opening in… READ MORE

How to Reference "Global Toy Product" Term Paper in a Bibliography

Related Term Papers:

Product Introductions Developing and Launching New Products Research Paper

Product Introductions

Developing and Launching new Products into Global Economies

There are many challenges companies face in developing and launching new products into a global economy. The intent of this… read more

Research Paper 3 pages (999 words) Sources: 4 Topic: Advertising / Marketing / Sales

---

Global Food Trade Term Paper

Global Food Trade

In 2005 Florida accounted for a large portion of U.S. produce production, including (Overview of Florida agriculture):

percent of the total U.S. value of production for oranges… read more

Term Paper 2 pages (605 words) Sources: 3 Style: APA Topic: Agriculture / Food / Culinary

---

Global Sourcing vs. Domestic Purchasing Research Paper

global sourcing vs. domestic purchasing

In this paper, the benefits of global sourcing will be better for a company rather than domestic sourcing. From there, the benefits will be discussed… read more

Research Paper 6 pages (1768 words) Sources: 5 Topic: Business / Corporations / E-commerce

---

Global Theater History as Education for 4Th-Grade Children Term Paper

Global Theater History As Education for 4th Grade Children

California's unique strength has been the winning blend of technology and rich entertainment content, which has driven the people of California… read more

Term Paper 6 pages (2801 words) Sources: 1+ Topic: Recreation / Leisure / Tourism

---

Role of Global Corporation Case Study

Mattel and the Toy Recalls

role of global Corporation

Mattel was founded by Harold Matson and Elliot Handler in 1944. The company started by manufacturing doll house furniture, and picture… read more

Case Study 4 pages (1085 words) Sources: 0 Topic: Business / Corporations / E-commerce

---

View 100+ more related papers  >>