Introduction
Production of entertainment products across the globe has gained high popularity among the investors where the industry has attracted significant investments. Further, the current technology has initiated substantial changes in the industry were more practical and modern entertainment products are enhancing the production of entertainment and toy firms. One of the popular toys and Entertainment Company in the US is the Hasbro Company that has been the leader in the production of toys and entertainment products during the 20th century (Quelch, nd).
Nevertheless, the stiff competition, customer demands and cost of production have affected the market performance of the firm across the US market. Due to the critical challenges, the Pierre Group should consider to invest with the company and utilize the eminent opportunities in the toy and entertainment industry. Through identifying the possible risks facing the operations of Hasbro Company as well as developing strategic approaches that could be utilized to curb the issues, this paper will avail a reliable proposal to the Pierre Group on the possibility of acquiring 10% of the Hasbro firm.
Hasbro Company and entertainment industry strategic analysis
Hasbro toys and entertainment company is currently struggling with various market and operation problems that pose heightened financial risks to the business operations of the company. Further, market changes in the entertainment industry have facilitated potential impacts on the returns earned by the firm across different investment ventures. The stiff competition posed by the other entertainment firms as well as consumer conviction power is some potential risks affecting the effective performance of the company in the entertainment industry(Sadgrove, nd). Relevancy of the tools utilized to counter the poor performance of the company in the global market has proved inefficient. Thus, the firm is still struggling to achieve better market popularity.
Moreover, the lack of essential capital facilitation to enhance diversification of profitable business operation in the company is a critical challenge inhibiting effective business performance and growth. According to the recent financial reports availed by the company, the total revenues generated during the 2018 fiscal year amount to, $ 4.58 billion a decline by 12 % from 2017 value of $ 5.21 billion. On the other hand, the net income achieved from the 2018 operations declined by 49% % from $ 397 million to 202.2 million. The figures one the revenues and net income generated for the two years reflect the unstable financial performance of the company in the toy and entertainment industry(Clarke et al., nd). Additionally, the market popularity of the company depicts declined consumer satisfaction and poor adherence to market trends.
Porter’s five forces analysis
Using Porter’s five forces analysis of the Hasbro company business, I would be able to identify the potential threats affecting the company as well as the essential opportunities and strengths that the firm can focus on to improve its current performance. Further, the analysis process will avail the relevant strategic measures that can be used to counter critical issues during future operations (Graetz wet al., pg. 590). Establishing the current competition level in the entertainment industry as well as highlighting the substitution alternatives in the market, I would enable the Pierre Group to develop a reliable business investment approach. Developing key bargaining influence of the customers in the global market I will assist in generating cultivating customer relation measures that will facilitate the business performance.
Levels of competition
The toys and entertainment industry is currently experiencing intense competition that influences the companies in the market to enhance the production, marketing and consumer satisfaction ability to counter the eminent competition. Hasbro was a famous toy generating firm until the onset of the second millennium, where the emergence of new and potential companies in the industry challenged her monopoly impact on the market. Currently, the market share of Hasbro in the North American market is approximately 28.64 %, and the international market share grew to 43.41% depicting declined growth in the home market and increased growth on the global market. On the other hand, the key Hasbro competitors increased both global and local market share. Lego, Mattel, Jakks, MAG Entertainment Company, Leapfrog, Vetch, and Play Mobil are the key competitors of the Hasbro toys and Entertainment Company. Relatively the market share controlled by Mattel Company in the North American region is 57.24%, LegoCompany increased its market share during 2019 in comparison to the 2018 market share by 16.67%. The competition posed by the competing companies in both the American and global market is a potential challenge affecting the financial performance of the Hasbro Company in the market.
Threat of substitution
Currently, there are different toys and entertainment companies in both the US and global market; hence the products generated by Hasbro Company face stiff competition in the market and are prone to substitution. Substitution possibility of the toys, as well as the electronic games produced by the Hasbro, is very high and the firm ought to determine necessary measures that they can utilize to curb the relative substitution likelihood in the market(Andersenet al., nd). The key competing companies to the Hasbro toys and entertainment company are the key producers of the major substitution products in the market thus, through initiating measures that regulate the competition the firm can control the possibility of substitution in the market.
Supplier power
Most supplies used by the Hasbro Company are raw materials such as paper, plastics, cardboards, and electronic designs and graphics. To facilitate effective regular production of the necessary products in the firms, the Hasbro relies on the suppliers who avail relevant raw materials to the firm. The influence of suppliers in the business operations of the company determines the successful production in the long run. Generally, suppliers have the potential to affect the production level achieved in Hasbro Entertainment Company as well as control the availability of demanded products in the market.
Consumer influence
The customer demands in the market effectively influence the commodities produced in the Hasbro Company and advise the production of profitable products to be sold in the market. Further, market changes in terms of taste and preferences affect the purchasing ability of the consumers in the market. Current demand for technologically designed products has facilitated electronic production in the Hasbro Company (Porter et al., nd). Through developing regular market researches, the company can effectively identify the current market changes as well as implement the relevant production approaches to satisfy consumer needs. Moreover, cultivating strong customer relations can enhance customer loyalty and increase shopping volumes made by individual customers.
The threat of new entrants
The entrance of new companies in entertainment products production and trade in the American market is a significant threat to the existing companies in the industry. Since the new companies will come up with new and modernized products than the real commodities in the market, competition is expected to increase and the existing firms ought to introduce efficient and customers satisfying products (Louche et al., nd). Hasbro, as one of the existing firms in the entertainment products generation and sell, is under potential threat of substitution after entry of anew and competent company in the American market. Moreover, the current technological innovations have availed various opportunities, such as the production of electronic entertainment products that new companies can venture in and improve the quality of products sold in the current market. Since Hasbro Company is focused on the production of physical toy designs introduction of electronic models would increase the competitive advantage of any new firm in the industry. Further investing in the production of wide-ranging electronic commodities for the entertainment purposes the Pierre Group can enhance the productivity of the Hasbro firm in the industry.
Eminent risks identified in the analysis
The possible risks identified across the study conducted can facilitate declined market performance of the firm in the industry as well as affect its survival in the industry. Some of the potential risks identified include, stiff competition, the threat of substitution, the threat of entry of new firms, poor customer relations and satisfaction, declined supplier cooperation, poor future planning and market prospection, and defective decision making processes (Yang et al., 35). For instance, the challenges posed by competition eminent in the entertainment industry can reduce effective market performance as well as the revenues earned by the Hasbro Company. Moreover, poor relations between the firm and its suppliers can reduce the efficiency of routine business operations as well as returns made. Further, poor planning and future prospection on the business operations can decline the ability of the company to address the consumer utility since the quality of their commodities is deficient in serving the desires of the customers in the market. Generally, the decision making processes of the firm should be reviewed to enhance the production of products that will suit the consumers’ desires in the current market.
Possible strategic risks mitigation measures
Fortunately, the challenges encountered by the Hasbro Company can be adequately be addressed; however, via implementing strategic actions to counter the eminent problems as well as develop strong future guidelines on the operation of the business. Currently, the sales revenues earned byte Hasbro Company have declined compared to the previous annual earnings depicting that there have been decreasing customers interested in their products. Therefore, the firm can focus on cultivating customer interest and loyalty, thus, improving the possible revenue earned(Hillson et al., nd). Through establishing intensive market research programs, the company can identify the various aspects that motivate consumers to purchase entertainment products and incorporate the identified features in their products. Further, developing reliable marketing approaches the company can enhance its popularity in both the American and global market.
Developing better customer relations as well as supplier relations Hasbro Company can increase the consumer trust as well as improve the provision of supplies hence, facilitating better operations and performance. Through increasing, financial investments in the firm Hasbro company can diversify its production processes and improve its annual return in the market. Further, the firm can effectively counter the threat of stiff market competition as well as the entry of new firms by focusing on technological entertainment products. Regular updating of the entertainment products can increase the reliability of the commodities produced as well as maintain customer confidence(Soltanizadeh et al., nd). Investing in innovations the entertainment firm can develop a new taste for both technological products as well as toys; thus, influencing the consumers to purchase the products on a regular basis. Identification of the possible opportunities in the toys and entertainment industry as well as taking advantage of the business niches Hasbro Company can increase its business operations as well as enhance the level of revenues earned. Developing effective business plans as well as prospecting on the possible market canes the Hasbro Company can determine the most effective methods they can utilize to remain relevant in the changing market.
Conclusion
In conclusion, the essential challenges experienced within a firm have negative impacts on the production as well as the market relevance of the company. Via identification of the risks facing a particular company, one can develop reliable strategic approaches that can be used to improve the performance of the company. For instance, Hasbro Company is experiencing various business threats that can affect its regular performance as well as future survival in the entertainment industry. Developing key mitigation measures that can address the problems eminent in the company, better and effective production can eventually be achieved.
Work cited
Sadgrove, Kit. The complete guide to business risk management. Routledge, 2016.
Clarke, Brian, et al. “Strategic management accounting: CPA program.” (2019).
Andersen, Torben Juul, and Johanna Sax. Strategic Risk Management: A Research Overview. Routledge, 2019.
Hillson, David, and Ruth Murray-Webster. Understanding and managing risk attitude. Routledge, 2017.
Soltanizadeh, Sara, et al. “Business strategy, enterprise risk management and organizational performance.” Management Research Review (2016).
Louche, Céline, and Samuel Idowu. Innovative CSR: From risk management to value creation. Routledge, 2017.
Yang, Songling, Muhammad Ishtiaq, and Muhammad Anwar. “Enterprise risk management practices and firm performance, the mediating role of competitive advantage and the moderating role of financial literacy.” Journal of Risk and Financial Management 11.3 (2018): 35.
Graetz, Geordan, and Daniel M. Franks. “Conceptualizing social risk and business risk associated with private sector development projects.” Journal of Risk Research 19.5 (2016): 581-601.
Quelch, John A. “Companies Need to Start Marketing Security to Customers.” (2016).
Porter, Michael E., et al. HBR’s 10 Must Reads 2018: The Definitive Management Ideas of the Year from Harvard Business Review (with bonus article “Customer Loyalty Is Overrated”)(HBR’s 10 Must Reads). Harvard Business Press, 2017.
Get professional assignment help cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.
Why choose our academic writing service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Get Professional Assignment Help Cheaply
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Why Choose Our Academic Writing Service?
- Plagiarism free papers
- Timely delivery
- Any deadline
- Skilled, Experienced Native English Writers
- Subject-relevant academic writer
- Adherence to paper instructions
- Ability to tackle bulk assignments
- Reasonable prices
- 24/7 Customer Support
- Get superb grades consistently
Online Academic Help With Different Subjects
Literature
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Finance
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
Psychology
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
Nursing
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Sociology
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
Business
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
Statistics
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Law
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
What discipline/subjects do you deal in?
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Are your writers competent enough to handle my paper?
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
What if I don’t like the paper?
There is a very low likelihood that you won’t like the paper.
Reasons being:
- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
