Hasbro Interactive. Please Focus, Emphasizing Management Control Essay

Hasbro Interactive. Please focus, emphasizing Management Control Systems: o Identify corporate / business unit strategy. o Identify current management control system. o Evaluate control system effectively supporting company's business unit's strategy.

Management control systems: Hasbro Interactive

Management control systems: Hasbro Interactive

Hasbro Interactive's strategy

Hasbro Interactive was a unit of one of the largest toy companies in the world, the Hasbro Corporation. Hasbro manufactures entertainment and educational games for children. The company has been producing toys such as Play-Dough, GI Joe, and Mr. Potato Head for many generations. It is striving to capture the imaginations of children and their parents today by expanding its technological and marketing outreach to suit the needs of contemporary children, while still holding true to its founder's intention.

The Hasbro Corporation deploys an intensely people-focused strategy in its use of managerial controls. As a creative company where new ideas and talent are a vital part of its enterprise, Hasbro actively selects and mentors top company talent. It also sets high performance goals for employees. These goals are supported with a strong program of mentorship and education. "Talent management at Hasbro is an organizational imperative. Hasbro's success depends upon a high performing and highly motivated workforce. Our talent management program is an integrated system of policies and initiatives which identifies high potential, high performing talent within the organization" (Talent management, 2011, Hasbro).When workers are identified as top performers, they are given additional training through a formal program known as 'Hasbro University.' This continues throughout an employee's tenure at the company, as "annual succession planning for senior leadership and key positions within the organization is an important component of this initiative" to develop employee skills and leadership (Talent management, 2011, Hasbro). People are viewed as the company's greatest asset, particularly when it comes to developing new, cutting-edge digital components of core toy brands like My Little Pony.

Hasbro Interactive's current management control system.

Hasbro characterizes its overall strategy as one of performance management, in which employee performance appraisals are measured against business and personal objectives; in light of corporate values; technical skills, demonstrated leadership competencies and a willingness to show initiative by creating individual development plans (Talent management, 2011, Hasbro). It also offers employee and executive education programs, both online and through technical and professional development schools on campus in its various international locations to give employees the ability to work on critical leadership and job-related skills. This acts as a managerial system of quality control, encouraging employees to add to their credentials. Education enables employees to become more of….....