Vermont Teddy Bear Analysis
Word Count: 1,126
Business Policy & Strategy
Week 3 Project 1
Sherman Pickett
ITT Technical Institute, Professor Raymond Poirier
Abstract
The intention of this paper is to write a strategic plan that forecasts success for Vermont Teddy Bear Co., Inc. in the near future and incorporate the following: * The roles and responsibilities of the board of directors in corporate governance and the way the board affects a company’s operation. * A list of the core competencies of the company. * Create an EFAS and IFAS matrix to understand the external and internal strengths and weaknesses. * The various decisions taken to formulate the plan and the reasons for those decisions. * The SWOT factors of Vermont Teddy Bear Co., Inc. to determine the appropriate strategies the company should take for future success. * The aspects of globalization that the company represents. * A stakeholder analysis of the company. * The value chain and the Value, Rareness, Limitability, and Organization (VRIO) framework to assess the company’s competitive advantage and how the advantage can be sustained. * A conclusion, including whether—in your opinion—individuals should invest in this company and the reasons for your opinion.
Essay Body: The success of Vermont Teddy Bear Company., Inc. lies solely in their strategic plan of action for the future. John Sortino’s decision to resign was unfortunate because the company decided to change the management plan that had been profitable for so many years. After a few years of turmoil and three different CEO’s since his resignation in 1995 the new head of Vermont Teddy Bear and President Elisabeth Robert is now taking the steps needed to ensure a successful venture. One of the key aspects of this new direction is that you have the cooperation of the board of directors. At Vermont Teddy Bear the board is made up of seven members of whom three are internal
Business Policy & Strategy
Week 3 Project 1
Sherman Pickett
ITT Technical Institute, Professor Raymond Poirier
Abstract
The intention of this paper is to write a strategic plan that forecasts success for Vermont Teddy Bear Co., Inc. in the near future and incorporate the following: * The roles and responsibilities of the board of directors in corporate governance and the way the board affects a company’s operation. * A list of the core competencies of the company. * Create an EFAS and IFAS matrix to understand the external and internal strengths and weaknesses. * The various decisions taken to formulate the plan and the reasons for those decisions. * The SWOT factors of Vermont Teddy Bear Co., Inc. to determine the appropriate strategies the company should take for future success. * The aspects of globalization that the company represents. * A stakeholder analysis of the company. * The value chain and the Value, Rareness, Limitability, and Organization (VRIO) framework to assess the company’s competitive advantage and how the advantage can be sustained. * A conclusion, including whether—in your opinion—individuals should invest in this company and the reasons for your opinion.
Essay Body: The success of Vermont Teddy Bear Company., Inc. lies solely in their strategic plan of action for the future. John Sortino’s decision to resign was unfortunate because the company decided to change the management plan that had been profitable for so many years. After a few years of turmoil and three different CEO’s since his resignation in 1995 the new head of Vermont Teddy Bear and President Elisabeth Robert is now taking the steps needed to ensure a successful venture. One of the key aspects of this new direction is that you have the cooperation of the board of directors. At Vermont Teddy Bear the board is made up of seven members of whom three are internal
References: Safari Books Online: Customer Relationship Management: The Bottom Line to Optimizing Your ROI. (n.d.). Safari Books Online - Home. Retrieved March 11, 2010, from http://my.safaribooksonline.com/0-13-099069-8/ch12lev1sec3#X2ludGVybmFsX0ZsYXNoUmVhZGVyP3htbGlkPTAtMTMtMDk5MDY5LTgvOTMm aW1hZ2VwYWdlPTkz Customer Retention: Integrating Lifetime Value into Marketing Strategies. (n.d.). Education and Software for Relationship Database Marketing. Retrieved March 11, 2010, from http://www.dbmarketing.com/articles/Art112.html