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Effective Business Planning - Case Study Example

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Summary
This essay stresses that effective business planning has become a necessary marketing competence for the success of any business organization. With dynamic internal and external market environments, the business market has become too competitive and organizations have to brand their corporate images…
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Effective Business Planning
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Effective Business Planning

Download file to see previous pages... The organization has engaged effective organizational strategies by differentiating, developing effective marketing plans and penetrating the market through effective management of both people and resources.
Mattel is a global toy manufacturing company that has numerous branches across the world. The company initially started with the goal of becoming a global leader in the toy manufacturing industry and to remain in this position indefinitely. However, the market environment is composed of many unpredictable limiting forces that act as barriers to market entrants and expose the organization to severe business forces that threaten survival in this market (Dressler, 2004). Mattel’s experience environmental threats, competition, ethical challenges and market fluctuations that became big threats to its survival in the market. The ability of the organization to maintain its current position today can be attributed to its ability to overcome its challenges and take advantage of the opportunities in the market while still remaining innovative in a world of changing technology.
Mattel was founded back in 1945 when its main product was picture frames on a retail basis. The company later turned to the toy industries after recognizing this as a better market with higher profits and more customers. In 1960, the company became a publicly owned company and its sales remained high making it maintains its position as the world’s largest toy company. The company now has its roots in design, manufacture, and marketing of family products. The company owns more than 8 company brands and has differentiated to over 36 countries and now markets its products to over 150 nations.
One of the strategies that Mattel has employed in surviving in the competitive market is the use resource and people management strategies. The company has remained strong in acquiring the right employees and leaders within the organization. ...Download file to see next pagesRead More
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