"The Vermont Teddy Bear Co., Inc.: Challenges Facing A New Ceo". Develop Both An Efas (External Factors Analysis Summary) Table And An Ifas (Internal Factors Analysis Summary Table).

739 words - 3 pages

External Factors*Larger manufacturing facility*Bear Grams*Retail stores*Distribution Methods*Disney /Patents, Trademarks, and licenses*Competitors (chocolates, flowers, and greeting cards)*Small Village Teddy Bear Common*Production and Service*Made in AmericaPlanning for the future of Vermont Teddy Bear Co. Inc it is important that we consider conditions/trends in the internal environment of the company that may impact the future success of the company. These factors (conditions/trends) involve financial resources, human resources, the quality of products and services provided, the efficiency of internal processes, student and stakeholder satisfaction, and the company culture. Specification of these factors will allow us to: 1) identify their potential impact on the market; 2) assess the probability that they will continue; 3) categorize them as strengths or challenges; 4) rank them in terms of importance; and 5) develop plans to take advantage of the strengths and respond to the challenges.The External factorsLarger manufacturing facility will enable the company to produce bears in bulk and to enter into larger sales agreements with retail establishments. Bear Grams was the reason the company became successful. They tried to change their way of doing business by relying on retail sales. Retail stores are needed to be in the consumer minds but this strategy failed. The company needs to stay focused on Bear Grams. The Vermont Bear Co. needs to stay consistent on it Distribution Methods by staying with the delivery service, and retail stores and producing new way to distribute by using the internet. Walt Disney was infringing on its trademark by say Pooh-Grams. This was very similar to Bear-Grams in name and logo. Vermont Teddy entered into an agreement to resolve its dispute with Walt Disney. This action protected Vermont Teddy from infringement and also showed other companies that they would take any action necessary to protect their company. They need to focus on competitors such as chocolates, flowers, and greeting cards not toy manufactures. They need to show that their bear are more than just toy but gifts for all occasions. Small Village Teddy Bear Common was a way to reinvent the way they sell bears. Vermont Teddy Bear made old-fashioned, jointed teddy bears ranging from 11 to 72 inches tall, in 6 standard color selections giving them production and service...

Find Another Essay On "The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEO". develop both an EFAS (External Factors Analysis Summary) Table and an IFAS (Internal Factors Analysis Summary Table).

vermont Teddy Bear Essay

5540 words - 22 pages over these concerns, CEO John Gilbert tapped on his door. 'Do you have a moment, Bob? I learned some interesting things at last week's Toy Fair (American International Toy Fair, held in New York City) that might affect our business - and perhaps your information systems. Vermont Teddy Bear company background 1981: VTB was founded by John Sortino, who sold teddy bears from a pushcart in a Burlington, Vermont open-air mall. The company nearly went

History of the Vermont Teddy Bear

4618 words - 18 pages United States. He wanted to make one that was made and manufactured here in the states. He did all of the work himself through self-taught lessons, and also began drawing classes to be able to create them himself.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

Internal And External Factors

1186 words - 5 pages have an effect on AAM called the external environment. The external environment would be all relevant forces outside a firm's boundaries, such as competitors, customers, the government, and the economy (Bateman, Snell, 2004, p. 42). According to Peter Drucker one of the great "business gurus", the essence of a business is outside itself (n.d. P. Drucker).The internal factors that influence any organization are those of the organizations strengths

Internal and External Factors

1148 words - 5 pages the goals and activities that an individual, work unit, or the organization itself will pursue. Internal factors that can effect planning would be when the company goes through a merger, acquisition, or when it removes and hires a new CEO, that has a “new idea” on the direction the organization should pursue. When internal and external factors affect the second function of management, organizing, it will also have similar effects as it does on

internal and external factors

1100 words - 4 pages elements that, with careful management, test the organization's capacity to withstand struggle and strive for success. With a great manager taking point with the four basic functions of management, the organization is able to achieve and possibly exceed the expectations. Also, following these same functions judiciously, a company can suffer changes from different internal and external factors that may present an improvement opportunity for the

External and Internal Factors

1036 words - 4 pages its products and services around the world.We will explain how external and internal factors like globalization, technology, innovation, diversity, and ethics at national and international level will impact the way GE managers apply the four functions of management. In addition we will talk about how delegation helps GE managers to minimize and manage these factors.GlobalizationGE is a company that is well establish in the world. The company is a

External and Internal Factors

1047 words - 4 pages External and Internal Factors There are many external and internal factors that impact the planning functions of management. We must all be mindful of these factors because they could have an enormous impact on organizations productivity. The process of assessing the external and internal factors that an organization will face can be vital to the planning function of management. One must determine a set of issues and constraints and

Summary of the internal and external analysis for Pret A Manger

2434 words - 10 pages Contents a) Summary of the internal and external analysis for Pret A Manger 2 b) Development of appropriate strategic choices 8 c) Development of appropriate evaluation criteria and evaluation of strategic choices, SAFe analysis 10 d) Selection and justification of the optimum strategy 10 Reference 11 a) Summary of the internal and external analysis for Pret A Manger: Prêt does not exercise Franchising, that could very easily boost

Apple Internal and External Factors

1696 words - 7 pages and U.S. Codes of Federal Regulations, to name a few. Apple has went to great lengths to create an ethically and diverse environment that is both amicable for the employee, employer, and customer.ConclusionApple is outsmarting their competitors in a number of ways, and they are proving that they are the CE company of tomorrow. Apple is always examining how external and internal factors affect their organizations and the planning, organizing

External/Internal Factors

1414 words - 6 pages External/Internal FactorsWal-Mart is an organization that has been extremely successful in achieving its goals of becoming top retail store in the world. Managers for this organization must plan, organize, lead, and control each component of this organization in order to secure its success. There are factors, internal and external, that can impact these four functions within an organization. Management's responsibility is to take these factors

Napster Internal External Factors

1840 words - 7 pages , employees are advised to seek help from their own manager, another manager, or a specific department like Human Resources, Legal, ROXI Security or the Office of Ethics and Business Compliance. Technology The software behind Napster can be viewed as an external and internal influence of the management at Napster. The external influence is the record companies wanting to know that their products are protected when the Napster software is used. The internal

Similar Essays

The Vermont Teddy Bear Co., Inc.: Challenges Facing A New Ceo (Ifas And Efas Tables Included)

1760 words - 7 pages loan, but in turn gave the lender warrants to purchase 100,000 shares of common stock for $1 within seven years of loans start. Unfortunately, the financial struggles remain.ReferencesThe Vermont Bear Company (2004) www.vtbear.comVincelette, 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. 51- 102). Upper Saddle River, NJ. Pearson Education, Inc.

The Vermont Teddy Bear Co., Inc.: Challenges Facing A New Ceo

1252 words - 5 pages The Vermont Teddy Bear Co., Inc.: Challenges Facing a New CEOIntroductionVermont Teddy Bear Company was founded in 1981 by John Sorinto selling handsewn bears out of a pushcart in the streets of Burlington, Vermont. Since this time, the company[s focus has been to design, manufacture, and direct market the best teddy bears made in America using quality American materials and labor.Until 1994, Vermont Teddy Bear experienced a great deal of

Vermont Teddy Bears Case Study: Efas/Ifas

1122 words - 4 pages just that. Furthermore, the company had once thought that they were in competition with other toy manufacturers. Even though one of VTB's top competitors is Steiff (another doll maker), this was not how Elisabeth saw things. "Our competitors are the people who sell chocolates, flowers, and greeting cards (Wheelen, Hunger, 2004)."These changes lead to the need for an EFAS (external factor analysis summary) and an IFAS (internal factor analysis

Vermont Teddy Bear Swot Analysis

1910 words - 8 pages . The more complexity you bring into the IT systems the more support systems and support specialists are needed. This creates chaos and silos and there is a fear of it all collapsing in a day. VTB needs to get rid of the spider-web of applications and connectivity and develop a standardized unifying IT platform. The third principle of developing an IT culture is what I think will be very helpful for VTB. The IT team needs to feel that they are a part