Part 1:
- In June 1957, Toys R Us was founded, focusing on retailing clothing and toys for children of all ages. In 2018, the company closed its doors. Why? There are several reasons that are crucial to the company’s demise. However, company executives were either blind to these reasons, or nobody in upper management wanted to admit these issues. Using Toys R Us as a guide, answer the following questions that pertain to an environmental scan for the company:
- Identify three major competitors for Toys R Us.
- Are there few or many barriers to entry to this industry? Why is this important?
- Besides other toy retail stores, what substitutes existed for Toys R US?
- What did Toys R Us fail to do in light of shifting consumer retail outlet choices?
- Click on the link below and read about the culture at Facebook.
http://panmore.com/facebook-inc-organizational-culture-characteristics-analysis
Using Figure 2.6 (found on the bottom of this document) and explain your thoughts on what type of culture you think is dominant at Facebook. What do you think influences Facebook’s culture?
Part 2:
There is a concluding case titled “Wild Water Gets Soaked” found below this document. As you read this short case, think about how the concepts from this chapter about entrepreneurship apply to what you are reading.
- What are the top two opportunities that the owners must address right now for Wild Water? For each opportunity, identify if it is internal or externally environmentally focused.
- Based on the case study, identify and briefly describe how two elements might change and influence Wild Water in its competitive environment (HINT: Review page 49) over the next few years. How will these changes influence the company’s business strategy?
- Based on the case study, identify and briefly describe how two elements might change and influence Wild Water in its macroenvironment over the next few years. How will these changes influence the company’s business strategy?
Part 3:
Based on the knowledge that a company exists within the macroenvironment and its competitive environment, locate an example from the internet when a company, in your opinion, reacted positively to its macroenvironment (economy, technology, legal and regulatory, demographics, social issues, or natural ecology). The example must be within the last 10 years and be sure to include link to the article.
- What was the situation?
- What was the company’s reaction?
- In your opinion, why was this reaction positive?
- What was the final result of this situation?
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