Management Strategy

Running head: MANAGEMENT STRATEGY
Management Strategy
Name of the Student
Name of the University
Author Note

MANAGEMENT STRATEGY1
Introduction:
The importance of the effective formation of the strategy is seen to amplify in a
significant manner in the modern business world. With a precise focus on the increasing
competition in the modern business world, it becomes significantly important for the
managers to formulate effective and appropriate strategies that have the potential to enhance
the growth of the organizations. The managers face the necessity of managing the various
threats of the sustainable business such as the high bargaining power of the buyers, suppliers
along with the high threat of the competition from the part of the competitor organizations.
Under such situation, the responsibility of the managers regarding the formation of the
suitable strategies has significant amount of contribution to the success of the companies in
managing these threats (Noe et al. 2017). The paper is focused in the elaboration of a
workplace case study which is based on the effect of the globalization of the global market
integration. The mentioned case study provides significant information regarding a business
organization named as Lakeland Wonders, a United States based toy manufacturing company
(Hbr.org 2019). Apart from this, the paper analyses the importance of the functionality and
the strategies in the mentioned organization. The analysis of the company’s strategy and the
functions is significantly based on the application of the 5P strategy.
Part A:
As mentioned earlier, Lakeland Wonders is one of the reputed wooden toy
manufacturer in the US market and the company was able to create significant amount of
trust amongst the customers regarding the capability of the company in providing optimum
quality products. Other than this, the company had a hierarchical management structure in
place for the effective management of the business operations and the Chief Executive
Officer of the company was Cheryl Hailstrom (Hbr.org 2019). Along with that, the CEO of

MANAGEMENT STRATEGY2
the company was answerable to the senior vice president of the operations of the company
Mark Dawson. In addition to this, the company had the departmental head for various
departments of the company such as the manufacturing, design or the sales. Apart from the
structure of the company, the organization had three different plants for the manufacturing of
the products and nearly 5000 employees are employed in the company (Hbr.org 2019).
Workplace Issues:
The company was seen to suffer from a series of issues starting from the decreasing
quality of the products and the unethical business operations from a section of the employees
which forced the company to such a state where they were facing an intense level of
competition from the part of the competitor organizations. Along with this, the senior
management of the company was seen to plan for the achievement of a lucrative deal and as
the first step, the CEO of the company wanted to add more number of plants specifically in
the mid- scale market. However, that proposal of the change was seen to be affected by the
apathy of the employees of the company and some of the departmental heads of the company.
The company had a strong reputation of being one of the very few companies capable
of providing high quality in their products and services that they offer to their customers. The
formation of the customer community from the part of the company was possible due to the
excellence of the company in providing the desired quality and designing the products in
accordance to the likings of the clients. However, under such situation, the company faced a
sudden decline in the number of the products of the company in the US market and along
with that, the competitor organizations were seen to offer improved quality products at a
significantly competitive prices which was threatening the selected company for a decline in
the sales and the market share of the company. Under such situation, the CEO of the
company identified that the declining organizational culture of the company which was more