The Vermont Teddy Bear Co., Inc.: Challenges Facing a New Ceo (Ifas and Efas Tables Included)
In your text read Case 27, "The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO" (pages 27-1 through 27-22). Using the case, your readings, the Cybrary and the Internet, develop both an EFAS (External Factors Analysis Summary) Table and an IFAS (Internal Factors Analysis Summary) Table. It is important that you submit with your tables a description of both your environmental and internal scanning process, including what factors you considered and why.
Explain the strategic management process within the global environment.
Conduct various environmental analyses as they relate to an organization.
Describe the role of corporate governance in strategic decision making.
The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO (IFAS and EFAS tables included)
Introduction
The Vermont Teddy Bear Company (VTBC) was founded in 1981 by John Sorinto. Unfortunately, for John, the company became too big for him to oversee since he was an entrepreneur. However, he gracefully stepped down in 1995 and supported the hiring of a new CEO that would lead the company into its future success (Vincelette, p. 27-3). One thing that has remained is the companies focus. The Vermont Teddy Bear 's "...focus has been to design, manufacture, and direct market the best teddy bears made in America using quality American materials and labor." (p. 27-1) In fact, "American made with American materials" is the basis of the company 's mission statement.
In the year following the change of CEO, VTBC tried changing its name to 'The Great American Teddy Bear Company". However, this tactic failed when customers grew confused. As a result, the Vermont Teddy Bear Company name was reinstated. Again, trying to reinvent themselves, the company decided to change their current distribution method in 1996. The decision they made was to shift away from the company 's signature Bear - Grams, which was very successful, but not creating growth. In its place, they wanted to
Explain the strategic management process within the global environment.
Conduct various environmental analyses as they relate to an organization.
Describe the role of corporate governance in strategic decision making.
The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO (IFAS and EFAS tables included)
Introduction
The Vermont Teddy Bear Company (VTBC) was founded in 1981 by John Sorinto. Unfortunately, for John, the company became too big for him to oversee since he was an entrepreneur. However, he gracefully stepped down in 1995 and supported the hiring of a new CEO that would lead the company into its future success (Vincelette, p. 27-3). One thing that has remained is the companies focus. The Vermont Teddy Bear 's "...focus has been to design, manufacture, and direct market the best teddy bears made in America using quality American materials and labor." (p. 27-1) In fact, "American made with American materials" is the basis of the company 's mission statement.
In the year following the change of CEO, VTBC tried changing its name to 'The Great American Teddy Bear Company". However, this tactic failed when customers grew confused. As a result, the Vermont Teddy Bear Company name was reinstated. Again, trying to reinvent themselves, the company decided to change their current distribution method in 1996. The decision they made was to shift away from the company 's signature Bear - Grams, which was very successful, but not creating growth. In its place, they wanted to
References: The Vermont Bear Company (2004) www.vtbear.com Vincelette, Joyce P.; Fogarty, Ellie A.; Patrick, Thomas M. and Wheelen, Thomas L. (2004) Strategic Management and Business Policy. Case 27: The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO. (pp. 27-1 - 27-21) Upper Saddle River, NJ. Pearson Education, Inc. Wheelen, Thomas L. & Hunger, J. David. (2004). Strategic Management and Business Policy. (9th Ed.) (pp. <Tab/>51- 102). Upper Saddle River, NJ. Pearson Education, Inc.