As mentioned in the case study The company which pays close attention to trends

As mentioned in the case study the company which pays

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As mentioned in the case study, “The company, which pays close attention to trends in the toy industry, is in the process of repositioning itself as a children’s entertainment company.” As a result, Spin Master announced they would be releasing several new apps in 2015, all based on their most popular products. In the case it was also mentioned that “The company is transforming itself and setting itself up for its next phase.” This helps us to understand the steps taken by the protagonists to encounter the dilemma and come up successful strategies to overcome the changing trends.
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PROTAGONIST The decision makers or the protagonist of this case would be the tree founders of the company; Ronnen Harary, Anton Rabie, and Ben Varadi. The current CEO is Ronnen Harary, while Anton Rabie and Ven Varadi are the Directors of the company. All three of them founded the company in 1994 and all three of them have together helped to establish Spin Master as the global leader in Toy, Media and Entertainment Space.
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CONCEPT The main concept in this case study was Innovation and Adapting to the changing trends. The dynamic environment in the gaming industry is very competitive and difficult to sustain in. Any company which enters this industry must contain a unique selling point or an original idea in order to survive in the market. Another concept which was clearly visible was the “Espirit de corps” – Unity in the organization structure and a spirit of teamwork amongst the employees. The vision and mission of the three founders was well communicated throughout the organization and it helped them to achieve their organizational goals with efficiency and effectiveness.
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STARTING A VENTURE Creation Vs Opportunity Spin Masters was founded in 1994 with the concept of innovating the gaming industry. The demand for games existed in the market and our protagonist identifies the opportunity and worked upon it. This case is an example of identifying market opportunities and grasping the first mover advantage. In the dynamic business environment of the gaming and entertainment industry, Spin Masters were able to achieve innovation and become the market leader. Planning Vs Execution The Spin Master’s CEO, Ronnen Harary had a vision to expand the gaming industry and innovate the current products in order to accommodate everyone. They had a well-developed and a thorough plan to achieve their goals. However, they became a victim of the changing trend and adaptation of new technology. This wasn’t the end of their planning though as they re-emerged as the global leader by adapting and innovating new games. Their execution was flawless, and some might say that they planned to execute. Therefore, in this case we say that planning was important however, the execution was more important and crucial for their problem.
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