You have been employed as a consultant to help develop a strategy to improve competitiveness and financial performance at Mattel, Inc. You should conduct an analysis of the U.S. toys and crafts...

Running Head: STRATEGIC MANAGEMENT                        1
STRATEGIC MANAGEMENT                                6
STRATEGIC MANAGEMENT
Table of Contents
Introduction    3
Analysis of the Industry    3
Competitive Analysis    3
Segments    4
Strategic Issues and Development Recommendations    4
Conclusion    5
References    6
Introduction
This paper will develop a strategy to improve financial performance and competitiveness at Mattel, Inc. Initially, it has been conducted an analysis of the U.S. toys and crafts industry and the company's internal situation, including its financial performance through 2018. Further, an executive summary of strategic issues has been given and lastly it has been concluded with appropriate recommendations.
Analysis of the Industry
· Following high growth in 2021, the Toy and Craft business is predicted to grow at a slower pace of 2.7 percent in 2022. This is because industrial expenditure increased during the COVID-19 (coronavirus) pandemic (Gilliard, Hoffman & Baalbaki, 2019).
· Because many upstream toy and craft goods are made in China, the industry's buying supplies and pricing changed dramatically as an outcome of supply chain disruptions caused by the coronavirus epidemic (Kwong, Mak & Li, 2020). This had an impact on industrial profits as well.
· Consumers seeking activities to remain active during their extra time at home due to stay-at-home orders have raised demand for toys and crafts throughout the epidemic. This has been especially true for families who have switched to remote schooling with young children
Competitive Analysis
The toy business is fast-paced, with fierce rivalry in terms of pricing and innovation. . Video games have recently increased competition in the conventional games and toys business. “The number of children in the US has remained steady since the early 2000s, but the rising desire...