peer review

Strategic Plan Part 1: New Product or Service

Joe’l Grayson

BUS/475

November 7, 2016

Michael Portillo

Strategic Plan Part 1: New Product or Service

Hasbro, Inc. is a well-defined business that is less that familiar to the business community. The dedication the company has given to designing toys, games, and a fulfilling experience, has helped the company brand the name that everyone has come to know and love. While we believe that the company has expanded and is doing well for itself, our goal is to lead the company in a new, never seen before direction that will help the company to excel while also being of service to the people most important to us, our customers. This has led to the newly defined mission and service that the company is providing; the Hasbro’s mission is to deliver a product to the hands of the consumer fast, sufficient, and above all else safe. Our products will remain top of the line by making sure they are tested thoroughly before placed on the shelfs of stores and in the hands of your children. We are committed to thoroughly researching every item that is being sold and reconfiguring any item that is deemed unfit to play with making sure that every item is above all else safe and enjoyable for your child.

New Service

Hasbro, Inc. is able to make sure that the toys that are being shelved are safe before they leave the warehouse and placed on the shelves of familiar stores that family’s shop at nationwide. One service that we have developed to help families around the holiday season and peak seasons throughout the year are putting toys together. Starting within the new year, some of the local stores where the Hasbro brand name is sold, will have displays setup where toys that have been purchased can be put together at the store location and placed within the consumer’s vehicle. Those toys that are too big to be put together at the store location can be put together at the customer’s home by signing up at the local store. Some local stores were the Hasbro brand is being sold and where a contract can be signed include, Wal-Mart, Target, and Toys R Us ("Hasbro", 2016). 

Customer needs & Competitive advantage

Hasbro has been able to do research beforehand to verify that the newly provided service will help both the consumer and the business to excel. By providing a service that helps the customer, they will be willing to purchase more products from the company in the future knowing that they have someone to assist with the production of the product if they need that help. As a parent myself, there have been many items that I have not made purchases because of having to put them toys together. The biggest issue being not having the available time to actually put the toy together. Just knowing that I don’t have to put the items together anymore changes my mind on buying them altogether.

Hasbro is creating a competitive advantage over other toy company’s by providing this service within the store and by offering to come to the homes of families to do setup’s. From what we know as of now, no other company has offered this type of service, Hasbro will be the first, which gives even a greater advantage over other companies. In the near future, the company would like to offer these services to other toy companies as well to help the company in exceling even further.

Vision & Business Model

Hasbro’s vision is to become the top toy provider not just statewide, but nationwide. The company has started doing this by placing its name as 550 in Fortune 1000 in June of 2016 and currently ranks the #2 toy provider in the U.S. ("Hasbro", 2016). By closing the gap from #2 to #1 the company can become the top toy provider within the U.S. and then work its way by reaching other country’s nationwide. By focusing on what customers want most, the company is able to excel as well as providing new services as the newly incorporated service explained above.

In the near future, the company’s goal is to continue to come up with many more ideas that will overall help consumers and this starts with the input of consumers. The toy setting up service will give consumers the opportunity to give feedback and even new ideas on what they would like to see in the new future. Obtaining consumers feedback will help the business get a better idea if the service provided was a success and if not, why it wasn’t. The company will also learn what it is that customers want to see more of. Input from children is important as well because they influence their parents with purchases that are made.

As any other business, Hasbro wants to be successful and plans on doing so by having customers get more involved. The feedback from the toy put together service is an example of how customers are involved. As the company continues to generates new business ideas, it will continue to involve the input of the customers that help to keep the business functioning from day to day.

Aligning of the new business with the new mission & vision

As stated earlier the mission of Hasbro is to deliver a product to the hands of the consumer fast, sufficient, and above all else safe. Our products will remain top of the line by making sure they are tested thoroughly before placed on the shelfs of stores and in the hands of your children. We are committed to thoroughly researching every item that is being sold and reconfiguring any item that is deemed unfit to play with making sure that item is above all else safe and enjoyable for your child.

This newly designed toy setup service makes sure that the toys that children are playing with are safely put together by an experienced worker. This service puts the customer’s safety first and foremost. The company wants the children playing with the toys and the parents that are assisting with playtime to both be well educated on the new toy and that the toy has been correctly been put together. This aligns with the mission of the company and involves the customer as well and more importantly, this is what the company wants; the consumer to be involved. This interaction helps the company to have a better overall understanding of the employees view, the customers view, and even the view of the child that will play with the toy over and over.

Division’s Strategic Direction

While the current ranking of #2 within the U.S. is good, Hasbro understands that there is a #1 position and that this position is attainable. The current direction that the business is working toward, which includes, a safe product, the involvement of customers, and the newly designed setup service helps leads the business in the direction it wants to go to achieve the goals it wants to accomplish. All of these actions working together help the business to achieve its missions, values, and goals. The good thing about achieving these goals and the Hasbro name is that the company is dedicated to making adjustments that are needed to be completed in order for the company to be successful. While the mission, values, and goals of the company are already set in stone, the avenues that are taken might change from day to day in order to make these missions come to life. Those employees that are under the brand have to be able to move accordingly in order to achieve the goal that the company has set forth.

Context of Culture, Social Responsibility, & Ethics

The Hasbro brand has a mission that it places before all of its employees. While this mission is very important the principles behind the company plays a big part in who the company is and what it represents. The company opens its doors to the lives of many different nationalities, customs, and origins. It believes that when these different people come together they come together for the same common purpose. Everyone under the Hasbro name becomes a family member and acts in such a way that is pleasing to the company name with respects to the best interests of the company, employees, and customers at heart. Each and every employee must act ethically by being honest, treating each other with dignity and respect and reporting instances that they see that are not.

Conclusion

The goal of every company is to be the best that it can be. The Hasbro company has the same goal but has differentiated itself from other companies by placing a never before seen service available to customers and allowing customers to become more involved. Companies such as Hasbro that are able to offer new and innovative services as this in their businesses are sure to excel. Today’s world is every changing. Companies that are able to change with it are those that will remain for the long haul.

References

Hasbro. (2016). Retrieved from http://www.hasbro.com/en-us/