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Analysis of strengths and limitations
Identify strengths and weaknesses
Strength and weaknesses summary
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The Vermont Teddy Bear Company
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.
Planning 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 how well the company is doing in each category.
The internal strengths and weakness analysis examines the recent performance of the Vermont Teddy Bear Co. Inc in terms of marketing, finance, operations and logistics, research and development, human resource management and information systems. The purpose of this analysis is to provide the data for the gap analysis -- the current performance of Vermont Teddy Bear Co. Inc and the desired (vision) performance required to successfully increase market share and customer satisfaction.
Since strengths and weaknesses involve the study of the internal structure, or come from within the organization. This process is extremely important because Vermont Teddy Bear Co. Inc may want to develop new goals that should allow them to maximize its position relative to each functional area.
1
Opportunities
Larger manufacturing facility
Retail stores
Made in America
Production and Service, Customer perspective
Threats
Competitors (chocolates, flowers, and greeting cards)
Disney /Patents, Trademarks, and licenses
Bear Grams
2
.20
.07
.18
.15.
.20
.10
.10
3
4.6
4.2
5.0
4.2
3.6
2.8
2.5
4
0.92
0.29
0.90
0.63
0.72
0.28
0.25
The small village, the Teddy Bear Common
More retail stores are willing sell
Attracts more Americans.
The company provided unique and original customized products to everyone, from ages 1-100.
advantage of national and international distribution opportunities
The customers became confused and allowed Disney to enter the personalized teddy bear gift market.
Identifying and understanding your own personal strengths is key to being a successful leader. Knowing your strengths means you can focus your efforts to maximize results, in yourself and in others. Strengths Finder 2.0 is designed to uncover your strengths and utilize these strengths to your advantage (Rath, 2007). Identifying and applying these strengths to your leadership style, will enhance your effectiveness as a transformational leader.
PetSmart has some important key success factors, as this paper will evaluate the competitive strategic assessments. Any company, which will be successful in the pet industry, must have the strengths of reputation, distribution relationships, product and service range, financial resources, product presentation, experienced workforce, and location. PetSmart was the first to expand the selection of value-added pet services to include grooming, Pet Training, Boarding, and Day Camp.
Once ferocious beasts, bears in popular society now represent a human-like, expressive, docile, creature. Internationally, bears are used for as mascots in today’s society, examples include Smokey the Bear, Coca Cola Polar Bear, Snuggle Fabric Softener Bear, and Kumamon. These mascots are each unique in that they contribute different characteristics to the concept of virtual bears. Smokey Bear was created in 1944 to educate Americans about the prevention of forest fires. Being one of the first bear mascots used in popular media, tracking the physical appearance of Smokey
The process of management consists of four major elements that are interrelated. Leading, controlling, planning, and organizing are considered these four elements (Hill & Jones, 2011). Using each of these elements, the strengths or weaknesses of the company will be evident. A strength of an organization refers to potential competitive advantage or the distinctive competency that is inherent to an organization. This is in regards to organizational operations. A Weakness of an organization refers to any aspect of the company that needs to be improved upon (Hill & Jones, 2010).
Companies all over the world varies but yet shares a common challenge, that is to solve problem not only effectively and efficiently but also creatively. The P-O-L-C framework which stands for Planning, Organising, Leading and Controlling plays a major role in both the company’s survivability and success. The SWOT analysis looks at both internal and external factors that can affect the Starbucks’s performance. The purpose of this report is to define and analyse how Starbucks respond and should have respond to the change of its external environment on the cofee market,This report will also identify and disscuss how The P-O-L-C framework and can help starbucks to compete and reduce the loss of their failing peformance in the Australian market and how SWOT analysis helps to define some externalities that can be a threat to Starbucks.
Eisner, A. B., Korn. J. H., Baugher, D., &Vojtkova, L. (2011). Build-A-Bear Workshop. Strategic Management (text & cases) 6th. C259-C267
When our professor first presented this project paper to us my mind began to wonder. What is a good company to research and present it to my fellow classmates. My first selection was “Chik-fil-a”, but I wasn’t sure if we could write about fast food franchises. So I continued to brainstorm about a topic to expound on, even going as far as in asking my buddies and co-workers for suggestions. “Walmart”, “National Football League”, “National Basketball Association”, “Nationwide Insurance”, and “LG” were a few ideas that were presented to me. A few of those sounded ok but none really grasp my attention. As I was visiting an outlet mall, I came across Nike store. “Wow that’s going to by my topic of choice”, is what I told myself. Week four (4) arrived and my professor asked for every student’s topic. Before he made it to me, at least four (4) others said Nike! As usual, I was the last person to give him my topic of choice. That’s when I went with “Under Armour. Researching this topic presented many roadblocks, due to this company only being around since 1996. I wasn’t sure if Under Armour practices corporate sustainability or even if they were socially responsible; but countless hours later researching this company, enlightened me of the answers I was searching for.
The idea of what makes an individual a good leader; a manager or a worker is generally based on what are his/her perceived strengths. In Clifton and Nelson (2010) book “Soar With Your Strengths”, the reader is encouraged to focus on their strengths rather than their weakness to excel in school, in business, or in the workplace (p.19). In an organizational leadership role, management must understand the strengths and weakness of their subordinates. Successful organizations identify and improve upon their strengths. Simultaneously, effective leadership also acknowledges the existence of weakness while effectively isolating it. More often than not, unsuccessful organizations fail to achieve success because they focus on their faults rather than their strong suits.
"Pounce, Prance, Zip, Canyon, and Snip," came, without hesitation, from the mouth of my daughter when I presented her with five randomly selected Beanie Babies from the one hundred or so that are in her bedroom. She hardly had to think about her response as she named them for me. She knows them all by name. I was intrigued. My daughter, and my wife, are generally very selective in their interests and pursuits. There are no Tickle Me Elmos or Furbys in our house. We have never fallen prey to the lure of pet rocks or Cabbage Patch dolls, but the sheer number of Beanie Babies we possess has made me very curious about these cute little things. The current Beanie Babies phenomenon is somewhat baffling to me, as most popular crazes are. What makes these things so special that my daughter knows them all by name, or that people wait in line at six in the morning to buy them? Who exactly is buying them, and who are they being bought for? These are questions I felt I needed some answers to. Over half of the Beanie Babies that we own are now retired, which means nothing more than the fact that if we wanted to buy the same ones now, they would cost three or four times what they did when we bought them the first time. The maker of Beanie Babies, the Ty Company, retires certain models each month which drives the price of the retirees up, in secondary markets, immediately. Is this simply a statement that no more are being made, or is it just a marketing ploy to drive sales? Either way, I feel that anything that has cost my family over seven hundred dollars deserves to be looked in to.
Strength and weakness are concerned with the internal factors and opportunity and threat are concerned with the external factors.
For personal and professional growth, given my personality traits, I need to embrace my strengths and weaknesses. I must use my strengths to my advantage, to be more effective academically and in the workplace, but I also need to identify and try to overcome my weaknesses, especially professionally.
The main goal when defining the financial perspective was to answer the following question “If we succeed, how will we look to our stakeholders” (BSI 2009, ¶5). Scents & Things is a new business in the area and will need to look closely at the competition in order to increase the company’s market share. The company may have to initiate a way to find a competitor since the original location is in the heart of a small town. Additional areas the company needs to look at is customer satisfaction, asset utilization, Increase net revenues, Minimizing store production costs, Decrease in unit cost, Increase operating cash flow over prior year , And ultimately to achieve financial sustainability. The way to measure the above objectives is to monitor revenue growth, Operating costs, Earnings per share, Return on capital, Return on interest, and number of returned items in a way that will help management to direct the c...
Being able to know individual strengths and weaknesses is so crucial in our lives other than our careers. It is not only the positivity 's that matters, the negativities are very crucial too because they make us work harder to improving and getting better in what we do by helping us to achieve our goals after going through all those experiences. I have rated myself as a nurse by using the nurse manager inventory tool and saw a lot of competences on my experiences/skills. I also rated my strength and weaknesses. "According to Merriam-Webster 's collegiate(R) dictionary, Strength is defined as the quality or state of being strong" (Strength. 2012). "Weaknesses is defined as lack of strength" (Weakness. 1997). "Self-Understanding helps individual in his or her recognition of weaknesses assisting the person to overcoming any shortcomings in the nursing field" (Carson, 2005). To be a good leader, you must be empowered with the Knowledge on strengths and weaknesses. "Personal accountability hold us responsible for the work that we do followed by the quality of their actions by others (Basset, 2005). With this paper, I will be able to write after rating myself on strengths and weaknesses in connection to personal and professional accountability, career planning, personal journey discipline, and reflective practice reference /tenets. Again, I am going to discuss on how to use current leadership skill to advocate for change at workplace. Finally, I am going to recognize and implementation plan on achieving personal goal on leadership growth.
As a consultant for Toys, Inc., I have been called in for my advice by the company’s president, Marybeth Corbella; on which of the two proposed options would be best for the company and for the customers as well. Toys, Inc. is a 20-year-old company that produces toys and board games, our company has a reputation built on quality and innovation. Although we have been the market leader in our field, the sales have become stagnant in recent years, and sales have begun to decline when comparing them to the sales in the past. With the company’s managers attributing the decline of sales on the economy, the company was forced to reduce production costs and layoffs in the design and product development departments; this action will hopefully increase
6. Nestle focused more on customization instead of the then resounding and domineering globalization. They believed in customizing a product to suit a local niche one market at a time. That way new product failure rate remained minimal and New product Development grew significantly. This process is referred to as local adaptation by the writer.