Spin Master
1.Describe the key decisions that Harary, Rabie, and Varadi faced in the start of their company. Looking at the decision environment, were these more programmed or non-programmed decisions types?
Spin master adapted to several strategies from which they gained a lot of success along with some which led them to being unsuccessful. Harary, Rabie, and Varadi started this company “spin Master” with the intentions to generate a set of long-term brands and be able to sustain a permanent place within the global toy market. Since this was the start-up of their company the 3 friends were faced with having to make key decisions. Firstly, they had to figure out a way to introduce the product they had made and find a way to market that product. Spin Master soon accomplished this by the company called Roots Canada LTD. this company was a perfect match for the product because they both followed a similar theme, “urban adventure image” both being environmentally friendly. Secondly, they were faced with having to figure out how they were going to manage the enormous order that they received from K–market. This led the 3 entrepreneurs to come together and make a decision on moving from their small kitchen production to a factory with larger accommodations so that it was fit for their 200 working employees and so that they were able to start the production of such a large order. Lastly, the biggest and most important decision they were faced with was having to create a new product that would be as successful as their first, “the earth buddy” they had to be innovative and think of a product that would be as captivating as the pantyhosed sprouting head. This was resulted with the production of the devil sticks that were a very big success in its first 6 months and gained them $1.8 million in sales.
Since Spin Master was a new company and had been built by 3 friends from University, all the decisions of the company were made by the young new entrepreneurs, which led them to make
Spin master adapted to several strategies from which they gained a lot of success along with some which led them to being unsuccessful. Harary, Rabie, and Varadi started this company “spin Master” with the intentions to generate a set of long-term brands and be able to sustain a permanent place within the global toy market. Since this was the start-up of their company the 3 friends were faced with having to make key decisions. Firstly, they had to figure out a way to introduce the product they had made and find a way to market that product. Spin Master soon accomplished this by the company called Roots Canada LTD. this company was a perfect match for the product because they both followed a similar theme, “urban adventure image” both being environmentally friendly. Secondly, they were faced with having to figure out how they were going to manage the enormous order that they received from K–market. This led the 3 entrepreneurs to come together and make a decision on moving from their small kitchen production to a factory with larger accommodations so that it was fit for their 200 working employees and so that they were able to start the production of such a large order. Lastly, the biggest and most important decision they were faced with was having to create a new product that would be as successful as their first, “the earth buddy” they had to be innovative and think of a product that would be as captivating as the pantyhosed sprouting head. This was resulted with the production of the devil sticks that were a very big success in its first 6 months and gained them $1.8 million in sales.
Since Spin Master was a new company and had been built by 3 friends from University, all the decisions of the company were made by the young new entrepreneurs, which led them to make