Background Summary / Business Conditions
For a long period of time Toys R Us has been one of the most leading retailers of toy stores nationwide for kids all ages, including babies, until 2004 when private investors bought the company. In fact, they even had a section in every one of these stores specifically for babies called Babies R Us. It was one of the most visited children’s toy stores ever, parents would always bring their children’s to buy a brand new toy all the time. During the holidays, Toys R Us would make fortunes because of all the famous toys they would sell.
Unfortunately, in 2004 success has dropped down rapidly, due to other competitors such as Walmart, Toys R Us started losing customers. It has been said by The Wall Street …show more content…
Do to other companies and retailers, it has highlighted that the leading selling results bought the company down significantly.
Customers have been led to buying toys for children in different places such as Walmart and Target because of the differences in pricing. Buyers proud of their contribution will now have to think twice before buying toys for children. Toys R Us will not have the same draw with staff, customers, and applicants alike.
Job cuts, reduced training, and money loss will cause increased dissatisfaction and perhaps more turnover. Staff may no longer trust to work at Toys R Us because of the closing stores and all the layoffs that will continue happening due to this situation. Without trust, working for a company like this can lead to trouble for an employee because of the worries they would have about not having a job later on.
By paying off their debts and doing a public offering will not help the company significantly. In knowing that they couldn’t meet customer’s needs by lowering the prices of toys, it will be hard to sell any of these toys at all. At this point, selling toys at a lower price should be taken into consideration in order to do …show more content…
More research regarding competitors should be done in order to make better decisions that will improve the company. There should also be more checkups whether the company is increasing or decreasing depending on the choices that are being done in order to avoid any more debts.
All managers at Toys R Us should be re-trained on how to manage a company and what to look for when problems occur within employees or customers. If problems would to occur, it should be brought up to the head owner of Toys R Us to find a solution for it. New protocols should be made when employees have concerns or a situation that needs to be addressed immediately to ensure successful outcomes across the firm.
Additional meetings, review sessions, feedbacks, and more should be made by the leaders more frequently. More improvements and performances should be made within the company to reassure that no one is at risk of being laid off. Conditions within everyone will be difficult at first, but once being able to keep track of work conditions, there should be less
For a long period of time Toys R Us has been one of the most leading retailers of toy stores nationwide for kids all ages, including babies, until 2004 when private investors bought the company. In fact, they even had a section in every one of these stores specifically for babies called Babies R Us. It was one of the most visited children’s toy stores ever, parents would always bring their children’s to buy a brand new toy all the time. During the holidays, Toys R Us would make fortunes because of all the famous toys they would sell.
Unfortunately, in 2004 success has dropped down rapidly, due to other competitors such as Walmart, Toys R Us started losing customers. It has been said by The Wall Street …show more content…
Do to other companies and retailers, it has highlighted that the leading selling results bought the company down significantly.
Customers have been led to buying toys for children in different places such as Walmart and Target because of the differences in pricing. Buyers proud of their contribution will now have to think twice before buying toys for children. Toys R Us will not have the same draw with staff, customers, and applicants alike.
Job cuts, reduced training, and money loss will cause increased dissatisfaction and perhaps more turnover. Staff may no longer trust to work at Toys R Us because of the closing stores and all the layoffs that will continue happening due to this situation. Without trust, working for a company like this can lead to trouble for an employee because of the worries they would have about not having a job later on.
By paying off their debts and doing a public offering will not help the company significantly. In knowing that they couldn’t meet customer’s needs by lowering the prices of toys, it will be hard to sell any of these toys at all. At this point, selling toys at a lower price should be taken into consideration in order to do …show more content…
More research regarding competitors should be done in order to make better decisions that will improve the company. There should also be more checkups whether the company is increasing or decreasing depending on the choices that are being done in order to avoid any more debts.
All managers at Toys R Us should be re-trained on how to manage a company and what to look for when problems occur within employees or customers. If problems would to occur, it should be brought up to the head owner of Toys R Us to find a solution for it. New protocols should be made when employees have concerns or a situation that needs to be addressed immediately to ensure successful outcomes across the firm.
Additional meetings, review sessions, feedbacks, and more should be made by the leaders more frequently. More improvements and performances should be made within the company to reassure that no one is at risk of being laid off. Conditions within everyone will be difficult at first, but once being able to keep track of work conditions, there should be less