In the current global landscape, it is crucial to have a unique operational strategy that ensures other institutions are not in a position to match the competence of the institution. There are various strategies that the management needs to consider, which are fundamental in improving the market position of the given entity. It is also essential to gain an understanding of the changes on the global scale because it ensures that the management comes up with effective changes that guarantee the growth and development of the given entity. Over the years, there have been evolving supply chain systems, and a handful of them tend to affect the environmental condition, and this will affect the future of different corporate entities in the future. Hasbro Inc. is an international corporation that is fashioned with the development of toys, board games, and other viable entertainment equipment. Being a major or an enormous institution, the stock is the market value is the highest compared to other institutions in the same industry. Further, the situation aids in improving the overall revenue, which is at $5.12 billion, making it the third-largest institution in the globe. With the profound success, to maintain the stature of operation, the incorporation of a green supply chain will be a significant additive in the institution. Whereas competitive advantage can be improved through various mechanisms such as increased capital investment and ventures into new markets, the evolution of green supply management at Hasbro will be of utmost importance.
1.1 Nature of Business, Product, and Service
The process of improving the aspect of competitive advantage requires one to have sufficient information on how the particular scheme will be of the essence in the process of enhancing the firm’s competitive advantage. The statement posits that there needs to be sufficient mechanisms or avenues which can be set in place with the aid of separating the activities of the institution from other facilities. Hasbro Inc. is a corporation that aims at establishing itself in the global field, and that is why the supply chain system adheres to the global corporate requirements. The nature of the business undertaken by the entity is to come up with unique designs and mechanisms which best satisfy the interests and the well being of the community.
The institution offers a diverse range of products, and this is the reason it remains relevant in the business landscape. It goes without mentioning that there needs to be a significant intervention that ensures that the practices set in place adequately improve the overall situation of the entity. There are various brands that Hasbro Inc. is associated with, and the diversity in the brands is also a significant attribute. Some of the notable brands include Transformers, Hasbro gaming, Nerf rival, Ferreal, among many others. The diversification of the products is significant because it provides the institution an easy reach to many clients within a short period. Additionally, the categorization ensures that all the tastes and preferences of the clients are satisfied in the long run.
In the evaluation of the services at Hasbro Inc., it is notable that the institution acknowledges the importance of the client base and the services offered are streamlined. The firm recognizes the need for providing efficient services to the customers as this aid in increased client retention rates. Gooding & Gul (2016) notes that any given supply chain is set in place to improve the services of a given corporate entity. In addition, the services need to be unique and adhere to the principles which have been set in place in the global landscape. Hasbro Inc. is an institution that showcases profound and effective services, and this is why it is a worldwide toy factory. The institution has an active website with chatbots and admins who are ready to cater to the problems and issues presented by the clients. Further, the open communication channels are of utmost importance as it aids to share ideas regarding the wants and needs of the client, which helps in the overall condition of the facility. From this, there is a competitive advantage that is created and works to improve the overall productivity of the business.
1.2 Nature of competitor
In any corporate venture, different competitors are in existence, and thus, the management should come up with a unique avenue of addressing the issue. Chen & Lin (2018) carry out a particular position regarding the competition in the toy industry, and he provides a specific situation which the institutions consider in the production process. Though most corporations in other sectors consider providing the clients with the components of their choice, in the toy industry, the design of the product, the production process, and the materials used in the production process are some of the differentiating factors which the corporations consider. It goes without mentioning that Hasbro Inc. has worked vehemently to ensure it outsmarts its competitors. In this case, some of the major competitors include LEGO, MGA entertainment, Moose toys, Mattel, among many others. The competitors compete with the institution on different levels, and thus, Hasbro Inc. has always tried to come up with strategies that can provide them an added advantage over these corporations.
From the list of competitors, Mattel Corporation is one of the major competitors for the institution. Since its inception in 1945, the institution has continued to gain global recognition, and to date, it has become a multi-national institution. With its headquarters in El Segundo, California, the institution has grown and expanded to various nations around the globe, and this is attributable to the vast revenues which are generated in the institution. To maintain its corporate image, the institution has fused with different brands, and this has been a significant growth point as well as ensured its growth. Similar to the partnership of Hasbro with the transformers brand, Mattel has partnered with Jurassic World, and this has been a major booster to the sales and distribution of the products. From this, it is clear that the institution tends to operate the same strategies with Hasbro Inc., and thus, it is essential to come up with other approaches that best separates the entity from other enterprises.
1.3 Dissertation Objectives and Research Objective
While aiming to change the landscape of any given corporation, there is a need to check into some unique attributes which are different from other entities. For instance, Distelhorst, Hainmueller & Locke (2017) affirms that having a comprehensive labor position helps in improving the motivation, work ethic as well as the output emanating from such quarters. The supply chain management needs to be inclusive and reduce the wastage, which is experienced in the production process. Going green is an initiative that can best improve the selling position for the transformers brand in Hasbro Inc. Therefore, the dissertation will seek to address the current production structure of the firm and some of the significant changes that need to be discussed in the process of enhancing the competitive advantage of the corporation.
The research objective for the dissertation is;
1. To establish mechanisms of improving the competitive advantage of Hasbro Inc. through the incorporation of green supply chain management.
2. To determine strategies that Hasbro Inc. can make use of to improve the competitive advantage of the Transformers brand.
1.4 Dissertation Report Structure
The report structure is a critical component to consider in the process of drafting this dissertation. The report structure is significant because it will provide a chronological perception of the specific elements that help to come up with a clear description of the issue under investigation. The understanding of the problem is a vital attribute, whereas the arrangement of the thoughts aids in ensuring that a valid position that can be substantiated is created.
The first chapter also incorporates the scope of the study, as well as the reasons why it is crucial to undertake the initiative. The second chapter evaluates the specific concepts of the existing knowledge in the green supply chain in a given corporate entity. With this research, a particular focus will be granted on the corporation, the transformers brand, and how the theories are applicable in addressing the situation in Hasbro Inc.
The third chapter will evaluate the data collection strategies and how well they suit the corporate entity. The data collection strategy needs to be specific with the issue under study so that there are no situations where the margins of error are immense. In this research, I will make use of questionnaires to gather information regarding the improvements in supply chain management and how Hasbro Inc. can have procedures that can improve the overall situation of the company. The green supply chain requires the institution to have measures that can improve the production process and cater to the well being of the environment. It goes without mentioning various components can be evaluated, ranging from the production process to the interaction with the customers. The chapter is significant in the entire dissertation.
The fourth and fifth chapters evaluate the statistics and come up with recommendations and conclusions regarding the measures which are viable in the improvement of Hasbro Inc.
In summary, Hasbro Inc. is a company which can improve its corporate appeal by the addition of an effective supply chain management. Through proper management and assessment of the corporate environment, there can be an effective channel that can aid in improving the overall structure of the institution. The issue is of utmost importance considering the change in climate and how the climatic factors can affect the overall logistical and operational perceptions of the institution.
When improving the distinct prospects of the supply chain, it is advisable to consider the corporate landscape which the company operates in, and this will aid in formulating specific components that positively impact its services. The review provides a distinct position regarding the process of a green supply chain and how it helps in the process of creating an absolute competitive advantage. As a result, previous knowledge on the topic will be examined, the prevailing situation, and the inadequacies which prompt undertaking this initiative. The assessment of the theoretical position, as well as the empirical perspectives, will be significant in extending the knowledge on how Hasbro Inc. can improve its overall corporate image. The creation and understanding of the different business strategies are of utmost importance in the process of improving the positioning of the industrial and global landscape.
2.2. Green Supply Chain
In the twenty-first century, environmental awareness is one of the significant aspects that institutions observe in the course of production. Different nations have diverse applications when it comes to issues of ecological preservation, and the situation is undertaken differently in the global landscape. There are treaties and agreements which exist among different nations regarding best business practices to take in an attempt to improve the overall environmental condition while enhancing the level of productivity. Despite the steps undertaken, Scur and Barbosa (2017) affirm that there is the specificity that exists from one manufacturer to another, and this draws the line between all competing forces in a given production process. As a result, the internal, as well as the external positions of the institution, need to be evaluated as it aids in coming up with an absolute position on the most effective changes and alterations which can improve the overall production process. For Hasbro Inc., the assessment of the logistical situations, the external environment, and the reverse logistics provide an effective mechanism through which the overall status of the institution can be improved. Suryanto, Haseeb & Hartani (2018) note that unique modifications in the system of operation are significant in ensuring the institution is in a position to undertake its activities on a global level. Similarly, Cousins, Lawson, Petersen, & Fugate, (2019) reiterate this position by affirming that the specific management practices need to be precise to the given industry as it will aid in improving the overall corporate image. In this case, Hasbro Inc. needs to undertake a profound assessment of the internal framework and, thus, establish a course of action which aids in improving the overall competitive advantage in the toy industry.
Cousins et al. (2019) avers that the green supply chain practices and performances should not impede the normal operations of the given institution. As an essential driver in the process of improving the corporate position of the entity, the management plays a critical role in ensuring the set goal is achieved in the long run. With this, Hasbro Inc. needs to consider eco-centricity as well as traceability in the course of production. Strict adherence to the two concepts ensures that an institution can formulate performance strategies that best improve the condition of the facility. Scur & Barbosa (2017) point out that activities such as green purchasing, waste management, and green manufacturing are some of the schemes which are applicable in the process of improving the welfare of an institution aiming to be environmentally conscious. For Hasbro Inc., the institution has a global appeal, and thus, undertaking the specific acts requires a prior assessment of the situation so that when the exercise is set in place, success becomes inevitable in the long run.
2.3. Operation Management -QSDFC
The formulation of strategies that guarantee competitive advantage requires that institutions have in place effective management practices that can ensure the anticipated success is achieved. In understanding the management theories, Balakrishnan & Cheng (2019) aver that the placement of a unique managerial team which is competent aid in coming up with specific procedures that ensures that profitability is achieved in the long run. The managers need to have an understanding of the volatility of the corporate environment and, thus, formulate specific strategies that will be significant in enhancing the productivity of a given institution. In this case, adherence to particular guidelines helps institutions to have a considerable advantage over the rest of the players in the global sphere. One of the dominant strategies is ensuring that there are unique operating guidelines that delegate and dictate the activities which the specific entities in the corporation need to undertake. One such model is the QSDFC model, which plays a unique role in the overall supply chain processes.
Dai & Mao (2018) posit that the use and application of theoretical knowledge plays a unique role in the process of ensuring growth and productivity is achieved in the long run. The QSDFC mnemonic stands for; Quality, Speed, Dependability, Flexibility, and Cost in the production process.
One of the significant prospects which Hasbro Inc. needs to consider is quality in the different methods. In the process of adapting to a green supply chain, many changes will change in the institution, and thus, the quality of the products should not reduce. Dai & Mao (2018) attest that adequate feasibility study needs to be undertaken as it aids in ensuring that all the avenues of money withdrawals, leakages, and injections are examined as expected. Hasbro Inc. is an institution that understands the working of the global scale, and the immense revenues produced by the company will be sufficient in the process of enacting the anticipated change in supply management in the facility.
While operating in the upper levels of corporate governance, it is essential to have sufficient channels of generating revenue. Customer service and satisfying the utility levels are some of the critical facets of operation which the leadership needs to consider (Dai & Mao, 2018). In this case, Hasbro Inc. needs to have an understanding of the implementation of the supply chain as it will aid in the process of maintaining a balance in the performance and reliability despite the challenges which may be present in the corporate environment. With this, the supply chain set in place should consider speed in the implementation phase, as this will aid in enhancing the positive values of the supply chain in the facility. Balakrishnan & Cheng (2019) provide dimensions on the specific prospects that are notable in the process of production. For Hasbro Inc., the formulation of product brands that consider the welfare of the environment should be done, and the speed of distribution should not be lower than the previous model of the supply chain. In doing so, the change will be achieved, and there will be very minimal foregone returns.
In the course of production, the customers deem dependability as a significant component that aids in the process of customer retention. The statement holds the assumption that despite the changes and the alterations which take place in a facility, the satisfaction of the customer needs to be granted significant concentration. For Hasbro Inc., the facility has diverse types of clients, and initiating such enormous changes will be faced with very many challenges in the long run. As a result, the management through the human resource department needs to formulate a specific operating paradigm that will ensure there is no indifference from the previous operating structure. Al-Shboul (2017) avers that the infrastructural framework, which constitutes the placement of the new supply chain, needs to confirm the dependability in the short and the long phases of production. Therefore, Hasbro Inc. needs to consider the green supply chain that coincides with the interests of the public and is in line with the operating principles of the institution.
The volatility which exists in the current global structure requires institutions to have a resounding understanding of flexibility. Supply chain agility, according to Al-Shboul (2017), is an identity that can be linked to an institution that is flexible considering the sharp changes which take place in the corporate environment. The ideology by the author is that there are changes that take place in the operating structure, and one needs to have sufficient structures that aid in improving the position of the institution. From the historical assessment of the toy industry since the formation of Mattel Corporation, there have been different changes, and the institution has been able to navigate through the obstacles due to the compelling flexibility character exhibited by the institution. Hasbro Inc’s success is dependent on the ability to remain flexible despite the changes in the supply chain to the anticipated green supply chain.
Flexibility can be perceived in terms of catering to the well being of the customers, the internal structures as well as other players in the same industrial field. For instance, many institutions are in a position to operate in the global sphere through different market entry strategies such as piggybacking, franchising, or joint ventures. Therefore, the green supply management, which the institution deems fit, should be able to utilize one of these channels so that it can cement itself in the global status. From this, Al-Shboul (2017) argues that the aspect of flexibility is coupled with a system of governance that is existent in any given institution. For instance, a charismatic form of leadership or a transformative leadership style is one that can invoke such immense changes. Therefore, the assessment of the system of governance in Hasbro Inc. is of the utmost in the process of setting in place the given form of the green supply chain.
For an institution in the corporate market, one of the key elements in increasing production while reducing the cost of production. The statement implies that the practices which an institution undertakes should be aimed towards ensuring the productivity is achieved in the long run. With this, Qian, Zhong, & Du (2017) reinforces the need for smart and optimal manufacturing procedures in the process of improving the appeal of the firm in the global landscape. In adherence to the set structure of operation, Hasbro Inc. needs to carry out an independent feasibility study that ensures there are minimum production costs and that productivity is achieved in the long run. The logistical requirements, warehousing aspects, and packaging procedures need to converge with the principal or primary goal of productivity. Therefore, critical evaluation of the costs incurred and the anticipated returns from the initiative provides the facility with an informed position on the suitability of setting in place the green supply chain initiative. The overhead costs, the operating costs, and the anticipated miscellaneous costs need to be evaluated as it aids in ensuring that the sought-out procedures adequately coincide with the general objectives of the facility.
2.4. Lean and Agile Value Chain
The effectiveness of a given supply chain is dependent on its ability to blend with the existing market requirements. The statement implies that there is a need to consider the prevailing market conditions and the suitability of setting in place a specific system of operation and the mode of timing. Similar to the sentiments aired by Christopher & Towill (2001), Qrunfleh & Tarafdar (2013) focus on the suitability of a lean and agile value chain and the returns from such an investment. For Hasbro Inc. to have such an operating structure, it is crucial to consider the different metrics of operation and how well they coincide with the aspirations of the client base.
In understanding the Lean Supply Chain (LSC), one gains vital information of the upstream as well as downstream product distribution, managerial position, and financial analytics, which aid in reducing the wastes and the costs. The LSC tends to reduce the complexities involved in the production process and ensure there is transparency, which fosters proper conduction of the different duties. Ying (2017) notes that with a given supply chain structure, it is essential to have significant values that best address the challenges as well as the opportunities which are associated with the set framework of operation.
On the other hand, an agile supply chain considers the dimensions of operation and some of the robust systems of administration which can be set in place to improve the operational capability of the facility. Christopher & Towil (2001) posit that the reduction in the time of undertaking a given operation, the period of conducting the different prospects, and the decline in the overall waste products, one is in a position to have a resounding position on the system of production. Therefore, the move to establish a green supply chain structure, Hasbro Inc., needs to consider the fusion of the lean as well as the agile structure because it aids in ensuring that not only the speed increases but also the efficiency of the entity. With the adoption of green schemes of operation, Hasbro Inc. will be able to have substantial control of the overall toy industry.
2.5. Business Strategies
While aiming to become productive in the toy industry, Hasbro Inc. needs to develop effective business strategies that best improve the status of the institution. According to Stamp (2017), product innovation is one of the critical attributes which can be linked to the success recorded in the institution. The development of new products and some of the changes in the internal framework of the institution provides the institution with a unique competitive advantage in the global space. The strategies need to provide the facility an easier time in the process of creating a competitive advantage over the rest of the players in the worldwide scene. Stamp (2017) posits the managerial prospects need to be checked so that there can be clear-cut actions undertaken in the process of evaluating corporate growth.
Some of the strategies which Hasbro needs to consider are cost reduction, which should be unique and suited in the process of improving the overall marketing and production structure. The uniqueness of the cost-cutting strategy will be significant in the process of creating a competitive advantage over institutions such as Mattel and LEGO Corporations. In the process of implementing the green supply strategy, the institution can consider the application of technological power which will be significant in ensuring the institution becomes a global toy industry in the years to come.
2.5.1. Just-in-Time Strategy
While implementing the green supply management shift, Hasbro needs to consider the placement if the just-in-time strategy. Considering the fact that there are many unexpected and knee-jerk moves that are undertaken in the process, the process will be useful in maintaining the stability of the institution. Juárez, Pérez & Useche (2017) note that the just-in-time strategy constitutes making use of raw materials if and when they are required. For the institution, the scheme will be useful because it will ensure that there are no aspects of wastage experienced, and this will be significant in improving the overall welfare of the institution. The scheme is useful because it ensures that the firm is in a position to cater for the demand and thus, reducing the aspect of consumer surplus or producer deficit.
2.6. Warehouse Management System.
Having in place an effective warehouse management scheme is also a significant step towards improving the overall administration system. The statement holds the perception that having effective warehouse management schemes will also be substantial in the move to enhance the competitive advantage, which is linked to a given corporate entity. Effective warehouse management incorporates logistical assessment, inventory evaluation, reverse logistics, among many other components (Christopher & Towill, 2001). Therefore, this shows that there needs to have a specific assessment evaluation of the overall managerial structure and how well they aid in improving its position in the corporate landscape.
2.7. Green Supply Chain Sustainability
In a bid to achieve green chain sustainability, it is vital to evaluate all the operating channel and come up with specific components which best describe the growth process. In a bid to achieve such a fete, Stamp (2017) affirms that there are factors such as corporate positioning which play a significant role in the process of completing the anticipated goal. Therefore, to outsmart the efforts by the competitors, Hasbro needs to consider the following attributes;
2.7.1. SCM Competitive Advantage Positioning
Positioning is a unique attribute that needs to be undertaken by persons who aim to have control of the global economy. The enactment of a green supply chain constitutes having a specific client base that can be on board with the anticipated changes. For Hasbro Inc., the management is aware of the distinct channels of production, and thus, the adherence to the system of production is crucial as it ensures that there is success in the long run. The adoption of the green supply chain means that there will be significant changes in the inventory management, logistical information as well as the transport mechanisms. As a result, it is crucial to have an understanding of these attributes because it provides the human resources department to advise on the most viable niche, which can guarantee the success of the institution. Therefore, the identification of the most effective operation position is of utmost importance in maintaining the equilibrium level in the global situation.
2.7.2. Strategy Management
Strategy management constitutes having specific channels that are applied when undertaking the activities in the institution. With this, Hasbro Inc. needs to have an effective managerial avenue that can ensure there are no issues that emanate in the course of production (Feng, Morgan, & Rego, 2020). As a result, one of the critical aspects is the decision-making paradigm, which is exhibited by the institution. The managerial component needs to have adequate information relating to the given strategic step undertaken by the management. Therefore, having a streamlined decision-making structure will be critical in the process of ensuring the given green supply chain sustainability is achieved in the long run.
2.7.3. Business Logistics
Xu (2016) aver that there are distinct components that need to be considered while evaluating the business logistics. The statement holds the perception that green supply chain needs to get in line with the global operating framework as it aids in the process of improving the output from a given facility. Before the enactment of the green supply chain sustainability framework Xu (2016) advises that the management needs to have all-round information regarding access to raw materials as well as the selling points. Further, the prior feasibility studies need to provide an almost certain projection of the anticipated sales of toys provided the initiative is set in place.
2.7.4. Reverse Logistics
While enhancing the growth of Hasbro Inc., it is advisable to consider the reverse logistics because they provide the firm with sufficient avenues of reducing waste while at the same time improving the value of the goods and services granted. Hasbro Inc. is a facility that is involved in the production and sales of toys. With the intent of improving its credibility and revenue generation, the institution has entered into franchising deals with brands such as transformers, and this is a strategy that is also applicable in the process of applying green supply chain sustainability.
2.8. Core Competencies
With the vast revenue generation and the endorsements from different quarters such as the DreamWorks pictures and other global organizations. From this, the institution has the capability of changing its processes to cope with the set supply chain sustainability. Further, the institution can counter adversity, which is a significant inhibiter in the process of gaining mileage on a global scale. On the other hand, with the organizational culture existing in the institution, there are high chances of growth that are visible from the philosophy of operation in the institution.
In summary, the literature review provides different dimensions of how the success of Hasbro Inc. can be guaranteed in the long run. The statement implies that there are various prospects that the institution needs to consider in the quest to become successful in the long term. The act of adopting a green supply chain requires profound thought and manpower to actualize the entire idea. Therefore, the managers need to come up with a practical implementation program that ensures that the stated components are achieved. The critical understanding of the operations in the Toys industries provides the institution with a unique competitive advantage over the rest of the players in the same industrial sector.