HRM CASE STUDY Example | Topics and Well Written Essays - 1750 words

HRM - Case Study Example Wal-Mart stores, Target corporations and toys for us were the retailer out lets through which most of the revenue the company had in 2000. The company has gone through many ups and down for many reasons. The growth by acquisition strategy adopted by CEO Jill Barad had failed showing an 82.4 million loss in 1999. following the heavy loss Jill Barad was replaced by Robert Eckert, who decided against a cost cutting strategy to amplify the profit. He better focused on work force management, giving its managers sophisticated training which included the global leadership program and seminars on leadership. How did the strategy of training managers to become leaders ultimately turn out to be The workforce strategy was aiming at developing effective teams. Trying to foster teamwork and brake down the silo mentality with in the organization was a Herculean Task for the prevailing corporate set up of Mattel. What were the challenges they came across during the process The purpose of this paper is to go beyond the information given by Mridu Verma (2007) and to analyze and critically evaluate the strategy in the light of today's human resource management capabilities and limitations in the corporate circumstances. In order to understand the intensity of the developments and the fruitfulness of the out come close look at the company background is essential. Mattel's was founded by Elliot and Ruth handler in the year 1945. Gaining from the absence of quality and verity in the toy's market the company had recorded a $100,000 sale in the first year even with the least experience they had. The company made use of the popularity of television westerns when they have introduced toy replicas of the classic western guns and holsters in 1957. Later on they introduced Barbie Doll with its clothes and accessories, the company kept on conquering the market with its sale on the increase hitting the $100 million mark in 1965. By the end of the decade they were the world's number one toy makers. It was the time when the company established and developed itself with diverse operations into a world wide enterprise with a host of acquisitions. Some of those major acquisitions are Dee & Cee Toy in 1962, Standard plastic Products Hong Kong Industrial and Precision Moulds in 1966, Rosebud Dolls in 1967, monogram models and A&A Die casting in 1968, Ratti Vallenscasca, Mebetoys, Ebiex, H&Hpalstic Company and Met frame in 1969. However, in spite of the acquisitions by the year 1985 Mattel fell behind the Hasbro as the world's largest toy Maker. The 70s have seen many financial irregularities and finally a new management under former vice president Arthur S. Spear had take control of the organization in 1975, by when many of the business acquisitions the company had were running on loss. "John W. Amerman, who became the CEO in 1987 moved to quickly to cut Mattel's overhead by closing 40% of the company's manufacturing capacity, including plants in California, Taiwan and the Philippians. He laid of workers at Mattel's corporate headquarters in California saving at least 30 million annually. He turned the company around by focusing on brand names with staying power such as Barbie and hot wheels and by making selective investment in the making of new toys. Despite a