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BUS Case Study
In a systems thinking context, there are two main kinds of feedback that could be encountered in an organizational setting. These are balancing feedback and reinforcing feedback. A reinforcing feedback could be described as a situation where change continues to change and grow; a response to something happening makes it happen more frequently (Askew, 2004, p. 134). On the other hand, a balancing feedback tends to minimize change and triggers a restoration of balance (Askew, 2004, p. 134). More specifically, a balancing feedback loop, according to Johnstone (as cited in Askew, 2004, p. 134) is where the response to something happening makes it happen less. Several formations of both reinforcing and balancing feedback loops could be demonstrated in the case of JAKKS. These have been described in both Figure 1.0 and Figure 1.1 below.
Figure 1.0: Reinforcing Feedback Figure 1.1: Balancing Feedback
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With regard to figure 1.0., the expertise as well as experience of JAKKS top management leads to the formulation as well as implementation of strategic decisions. It is important to note that as has been highlighted via previous analyses of JAKKS, the company seems to identify the relevance of employees as a key resource. It is for this reason that its top managerial team is made up of persons who not only have the relevant experience, but also the appropriate academic background needed to effectively run the enterprise. These are the persons responsible for the formulation as well as implementation of JAKKS strategic direction. Strategic decisions could include, but they are not limited to, the appropriate competitive strategy to embrace. The companys leadership could, for instance, adopt Porters generic strategies. These, according to Schermerhorn (2009), include cost leadership and differentiation. With regard to cost leadership, the approach adopted could include the reduction of costs so as to further enhance sales via reduced prices. On the other hand, differentiation could include ensuring that the toys JAKKS makes have a differentiating or unique aspect that sets them apart from the other toys in the market. The differentiating aspect could be better quality. If the strategy implemented by the companys top management is effective enough, it leads to enhanced performance which could be in terms of increased market share or enhanced profitability. With increased market share and perhaps enhanced performance, the company has the appropriate financial as well as strategic muscle to further improve the performance of its top management, either through enhanced remuneration, making of better hiring decisions, or implementation of an executive training and development package.
Figure 1.1 represents a balancing or stabilizing feedback loop. The production of a wide array of product leads to greater market share and, perhaps, enhanced sales. Sales could increase over time but then become stagnant, or even start to decline at some point. It is at this point that the company could consider adding a new product category so as to protect its bottom-line. It is, however, important to note that unknown to the management of JAKKS, its customers at some point loose interest in the companys toys and it is at this point...…to employees. JAKKS ought to determine exactly how various approaches to leadership interact with the various organizational realities for enhanced organizational effectiveness and performance. This is knowledge that could be applied in HR management and in recruitment and selection efforts to find the most appropriate persons to lead the companys various divisions. Next, when it comes to the balancing feedback loop, there are also plenty of learning opportunities. The most obvious one is the relevance of continued marketing and promotion efforts in seeking to not only maintain a certain level of sales but also promote the same. While the company has an impressive catalogue of products, failure to further promote the said products and rejuvenate their storylines effectively gets in the way of continued market dominance. It is important to note that although the companys customers are actually toddlers and young children, it is parents who make purchase decisions. These buyers must continuously be educated on why they should get their children toys produced by JAKKS as opposed to those offered for sale by the competition. This would get rid of customer disinterest and eventually lead to enhanced sales which could in turn lead to enhanced innovation.
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