ms hall
I have read your summary regarding your current challenge with changing marketing trends and the upcoming renewal of your 5 year contract with a large quick service restaurant. You have had a long and profitable relationship with this international fast food company and this relationship has been an important part of your firm’s growth. While you do face some obstacles, there are solutions to overcome these. First hand and most importantly lets point out and discuss the problems you face. First the market trend issue: The marketing trend challenge you currently face is a decline in the sale of kid meals. With technology advancing kids no longer value the toys you market. In addition, child obesity and health problems are receiving greater attention in the media and the threat of advertising regulations is increasing, these regulations are already in place in Europe. Your manufacturing costs in China have gone up 40% due to an increase in raw material costs and export tariffs. And to top it off the overall time to market these toys is lengthy. Last and most important your team has been ineffective in addressing these market trends, and working collectively to resolve these issues.
Renewing this contract and maintaining relationship is important to your firm. Are you assuming the QSR wants to renew the contract and do they want toys? Is your firm prepared to take on this large account at this time?
These are 3 recommendations to help you.
Restructure of your organization - this should be done prior to renewing the contract, ask the QSR for extension of contract renewal.
Re evaluate and define your mission and goals. Establishing an innovation team or a R and D department. Teams and managers should have regular meetings with an agenda to implement your business strategy, improve communication and use critical thinking as a method to problem solving. Ineffective teams and quality assurance and improvement should be monitored regularly to address future
Renewing this contract and maintaining relationship is important to your firm. Are you assuming the QSR wants to renew the contract and do they want toys? Is your firm prepared to take on this large account at this time?
These are 3 recommendations to help you.
Restructure of your organization - this should be done prior to renewing the contract, ask the QSR for extension of contract renewal.
Re evaluate and define your mission and goals. Establishing an innovation team or a R and D department. Teams and managers should have regular meetings with an agenda to implement your business strategy, improve communication and use critical thinking as a method to problem solving. Ineffective teams and quality assurance and improvement should be monitored regularly to address future