Mattel’s problem or fatal flaw is it’s inability to recognize that the problem is the system itself. The misplaced belief that outsiders will bring a different point of view that is enough to change direction is misguided. The outsiders will be subject to the same factors, biases of retailers, and the industry in general. The outsiders will burn through seasons trying to understand that industry, the business and the culture. And when they are properly “institutionalized” their decisions will not significantly deviate from their predecessors. Mattel is like a steam locomotive in the era of autonomous cars. Whose processes, business plan and systems are worn like an armor that has become cumbersome and inefficient. Changing the guy under the armor and expecting a different outcome is well, you already know. The issue is how do you break down the old and build the new without killing the patient. The word unsustainable is key. The effects are all around you. You see it in the quarterly results continuously. The bickering and the blaming here is only symptomatic of the real issues and problems. What is the answer? I don’t think I’m smart enough to tell you that. I can only hope that after this new round of exec musical chairs that there is still a company to save.
Excellent point by @PAhiRni-6bhs, thought it deserved a bump.