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Thursday, June 20, 2013
PRINCIPLES OF MANAGEMENT (MGT503) ASSIGNMENT NO. 02 2013
PRINCIPLES OF MANAGEMENT(MGT503)ASSIGNMENT NO. 02
DUEDATE: 25THJUNE, 2013
"The toy industry, like all others, has its good points and its bad points. One person who’s trying to take advantage of the opportunities is Charlie Woo of Los Angles. Woo and his family came to United States from Hong Kong in the late 1970s. To support the family, his mother and father initially started a restaurant but found that venture to be too time consuming. They looked to start another business and settled on the toy industry. By using their contacts in Hong Kong and by bringing their four sons into the business, the Woo family opened ABC Toys. The company goal was to manufacture and distribute toys to small wholesalers who couldn’t get products from the large toy markers because they were not big enough customers as they could not buy enough volume. ABC Toys had identified a specific niche and was not even attempting to compete with the large companies like Mattel Hasbro. In the meantime Charlie, who was just about to compete his Ph.D. in management, joined the family business.
After that ABC Toys purchased several warehouses. Charlie’s vision was to encourage other small toys manufacturers and distributors to rent from them and together create a "toy town". Charlie reasoned that this strategy was good because it would enable customers to come to one location, shop comparatively, and ending up buying more products then they would if they had to travel to separate stores. As more toy companies joined ABC Toys in Toy Town, word soon spread and customers began coming from all over. Now there are more than 500 wholesalers in Toy Town."
1) If someone is conducting the competitive analysis of the organization, which tool would you prefer him/her for competitive analysis? Justify your answer with rational.
2) From the given scenario, identify at least two competitive advantages of the company. Justify your answer with rational.