Galaxy Toys Inc. Case Study

Galaxy Toys Inc. is one of the largest privately owned companies in the United States. The management team has changed with how the company is now ran by George and Nan Jepson’s children with them retiring. Galaxy Toys Inc. is attempting to implement a new toy project to help keep up with competitors, as well as boost their sales being that in the recent years that sales have slowly been decreasing. There are many necessities that go into managing a successful business including, a set of skillful and competent individuals with a clear understanding of the strategic objectives and vision of the business. With the new changes that has been planned to be implemented into the new project, Galaxy Toys Inc., has hired Itza Yu to organize the planning,

The organizing function focuses on where the managers organize by bringing together physical, human and financial resources to achieve objectives (Norman). They identify activities to be accomplished, classify activities, assign activities to groups or individuals, create responsibility and delegate authority (Norman). Then, coordinate the relationships of responsibility and authority (Norman). Before any aligning begins with who is in charge with certain tasks, Itza Yu must focus on the major issues that the company is having. Although no one exactly has a accurate prediction to the future in what will actually work and what will not, it is essential in a business recognizing the issues that the company has to be able to adapt a better overall business plan. To focus upon the issues/weaknesses that the company has can be identified, if the company creates a SWOT analysis. There are many issues that can be already identified with Galaxy Toys Inc., which includes, a decreasing sales, competitors using more up to date technology, trained personnel’s needed to operate 3D printers, more staff is needed to implement new business plan, and training is needed to be implemented with new equipment that is to be used for new

Controlling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary (Creative Commons, 2012). The standard goal for the cost of the product created with the 3D printer is $7.56. Majority of five branches, besides White Plains and Huntsville went above the standard goal cost wise for creating a product. This could bring upon financial problems in the long run if majority of the branches are going above budget in creating each product. The company should focus upon taking corrective action by reevaluating how each branch is actually using the 3D printer to try to see where the issues lies with the three other branches that are going over budget. Corrective action refers to when the control process does not meet the standards, then it needs to be revamped to meet the organizational goal (Boundless, 2016). The standard time that it takes to produce one product is 7.36 minutes; two of the branches did not meet this standard, which are included Dayton branch and the Juarez branch. An evaluation can be done with the branches that have met the requirement versus the ones that didn 't make the standard to see where the two branches lack in to meet the time requirement. The quality control problem ration per 500 units standard is one but every branch has gone over the standard. Some