Vermont Teddy Bear Case

Be sure to include a good Mission Statement that meets the criteria of our author. This is a standalone paragraph that clearly indicates the business in which your company finds itself, and addresses the MARKET that you are addressing. A Mission Statement is market focused and not product-focused.

5. Capacity and facilities. After reviewing the video I see that their facilities are in poor conditions making it harder for many to work that type of environment. The administrative office have no space/order to them along with their shipping or receiving department affecting how the company flows on a daily bases. Not having enough space along with clean, organized facilities can affect the produce and output of a company.

In addition the employers should make a selection of eligible employees, as the personal circumstances as well as the assignment circumstances are significant for the work-at-home issue. Additionally, the willingness of the employees to work by themselves is important. Concerning to the close-knit working culture the company should determine permanent office meetings to ensure the agreement from everyone to the current issue. Furthermore the overall circumstances such as the work hours, the times when the employee has to appear at the office, the required technology and the protection of the confidential data need to be considered (Whitacker, 2016)

Highly skilled, loyal workers that provide steady employment throughout the year. Employees are the foundation of this firm and keeping them happy and loyal lowers the chances of disputes and improves production and efficiency.

1) How would you describe Vermont Teddy Bear (VTB)’s business model (the products and services it sells, target market/s to whom it sells them, the value proposition it offers, and its financial model)?

Vermont Teddy Bear was founded by John Sortino, who began selling plush bears from a mall kiosk in Burlington and a few years later turned the company into a multi-million dollar business. Throughout the years, VTB has had some major successes, such as the implementation of its ‘Bear-Gram’ service, which allows customers to call a toll-free number and order a personalized bear. In addition, VTB has expanded beyond teddy bears and into other successful managed brands like flower delivery and clothing (pajamas). However, the company has also faced some adversity after going public including off-seasonal jams, partnership failures (Zany Brain), and a rise in competitors, which has reflected in VTB’s overall market share. Since then VTB has repurchased its stock.

In 2005, the Vermont Teddy Bear Company produced a controversial bear for the Valentine holiday. The bear that was made was called “Crazy for You” and wore a straitjacket. It became an issue when the company was confronted for offending the mentally ill. After the problem became apparent to the organization, it responded by saying that it would continue selling the toy until the inventory was empty. It was put out for the public in January and was sold out by February 3. The ethical issue in this case is whether or not Vermont Teddy Bear Company handled the situation ethically correct.

Vermont Teddy Bears is a private company that specializes in the manufacture of novelty items based on an e-commerce business model. Company management aims to generate new revenue streams through modifications to the retail system and the

personal time could be made. Prior to this shift in the workplace, domestic workers would catch small breaks

The mission statement is often publically stated and used by almost every organization today. It helps provide basic guidelines, essentially the core values of a company, and what they aim for. A mission statement gives customers

Even if the teddy bear manufacturing is a saturated industry with many competitors, it has not prevented the Vermont teddy Bear Company to launch its own business.

"A good mission statement portrays an organization's unique and lasting reason for being, and energizes stakeholders to follow common goals. It likewise enables a focused allocation of

Organizing the direction of a business or corporation is essential because it can increase profitability and provide broad guidelines for how to accomplish the organization goals. This is where a mission statement becomes useful. A mission statement should be short, concise, and to the point. Employees should be able to remember it and make it part of their everyday work culture.

Ideally, a good mission statement also provides information regarding the organization’s overall management philosophy, its business model, its technical and social competencies, and its values and beliefs (Aguinis, 2009; Azaddin, 2011; Bart & Hupfer, 2004; Covin, Slevin, & Schultz, 1994). Moreover, to make mission statements of large companies more individually relevant, Azaddin (2011) advocates flexible “guiding statements” that account for the “context, culture, structure, and needs of an organization” (p. 31). Thus, a mission statement must be meaningful and applicable to all stakeholders for strategic decision-making to be effective.

Although the company has been in business for over a hundred years it has encountered several challenges. One weakness is its image. As described earlier this image is not conducive to one to be associated with the kindler, softer side of humanity. Another threat or weakness is the continued outsourcing of manufacturing of parts and accessories into overseas markets and companies. Although, there is no set percentage