Describe the partnership norms at spin master toys

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Reference no: EM131451696

Question: Earth Buddies

On December 11, 1998, Anton Rabie, Ronnen Harary, and Ben Varadi found themselves on the cover of Canadian Business magazine. In the article, they were referred to as "Marketing Maniacs," examples of the young and enthusiastic entrepreneurs in today's marketplace. Fresh out of business school in 1993 and based in Toronto, the partnership between Rabie, Harary, and Varadi quickly flourished with the initial success of their product release: Earth Buddy, a small novelty head that sprouted grass hair when set in water. Thanks to successful negotiations with retail giants such as K-Mart, Canadian Tire, and Zellers, sales grew steadily for the first few years. In 1995, the partnership changed the company name to Spin Master Toys. After only four years of operating, Spin Master reported $10 million in sales in 1998. Over the years, the friends have had their share of disagreements, triumphs, and failures.

Together, they have recruited talented outsiders to join their executive committee, researched and successfully launched innovative toy products from Asia, and nurtured the company to where it is today. Although a private company, Spin Master reported $103 million in sales in 2000. Today, the executive team at Spin Master has grown to 12 members. Rabie is the president, Harary is the CEO, and Varadi is the executive vice-president. In 2002, the firm introduced a variety of new products, including the Air Hogs Helicopter, Air Hogs Radio Control, and Air Hogs Quick Charge. In addition, the company re-branded itself by changing the corporate logo and name. In 2004, Rabie, Harary, and Varadi celebrated Spin Master's 10-year anniversary, the achievements of their fledgling business, and what it truly means to work together as a team.

1. Describe the partnership norms at Spin Master Toys.

2. Describe the roles displayed by the firm's executive team members: Anton Rabie, Ronnen Harary, and Ben Varadi.

3. Using the five-stage model of group development, analyze the changes on the executive team. Be sure to address how the team's decision-making process was affected by the introduction of Michelle (Harary's sister) and Austin (Michelle's husband) to the team.

Reference no: EM131451696

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