Describe the strategic approach pursued by warby parker in selling

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1 Text: Strategic Management and Business Policy 13/e Chapter 1: Basic Concepts of Strategic Management Topic: New Ventures and Entrepreneurial Strategy Learning Objectives: 1. Understand the benefits of strategic management. 2. Understand the basic model and components of strategic management. 3. Understand strategic decision-making in an entrepreneurial model. Video Title: Warby Parker: New Venture/Entrepreneurial Strategy Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Warby_Ve nture.html Synopsis Warby Parker is an innovative new eyewear brand sold exclusive online. For every pair of glasses sold, one is donated to those in need. This video describes the strategic approach to establishing the new venture of Warby Parker. By eliminating the middle man, this company is able to sell eyewear for a fraction of the cost of other retailers. Discussion Questions 1. Describe the strategic approach pursued by Warby Parker in selling eyewear. 2. Who is the target market for Warby Parker and how do they reach this market? 3. Which category of risk do you think Warby Parker might be most susceptible to given their current business strategy? Text: Strategic Management and Business Policy 13/e Chapter 2: Corporate Governance Topic: Corporate Governance: Mission and Vision Learning Objectives: 1. Understand how corporate governance can impact an organization’s vision and mission. 2. Explain the importance of executive leadership in strategic management, specifically the establishment of the organization mission. Video Title: Warby Parker: Vision and Mission Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Warby_Vision.html Synopsis 2 Warby Parker is an innovative new eyewear brand sold exclusively online. For every pair of glasses sold, one is donated to those in need. This video describes the development and execution of the organization’s vision and mission, as well as the role these play on daily operations. Discussion Questions 1. What is the vision of Warby Parker? 2. What is the organization Vision Spring and how does it relate to Warby Parker? 3. Explain the “buy a pair, give a pair” program. What role does this program play in the overall mission of Warby Parker? Text: Strategic Management and Business Policy 13/e Chapter 3: Social Responsibility and Ethics in Strategic Management Topic: Social Responsibility Learning Objectives: 1. Understand the relationship between social responsibility and corporate performance. 2. Recognize different views of ethics. 3. Conduct a stakeholder analysis. Video Title: Warby Parker: Vision and Mission Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Warby_Vision.html Synopsis Warby Parker is an innovative new eyewear brand sold exclusively online. For every pair of glasses sold, one is donated to those in need. This video describes the development and execution of the organization’s vision and mission, as well as the role these play on daily operations. Discussion Questions 1. What is the vision of Warby Parker? 2. List some of the examples of sustainable business practices discussed in the video. 3. Who are the relevant stakeholders of Warby Parker? How is each stakeholder group impacted by the organization’s mission? Text: Strategic Management and Business Policy 13/e Chapter 4: Environmental Scanning and Industry Analysis Topic: Industry Analysis 3 Learning Objectives: 1. Identify aspects of an organization’s environment that are most strategically important. 2. Understand competitive forces within an industry. 3. Understand the use of social media as a competitive tool. Video Title: Subaru America: The External Environment Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Subaru_External.html Synopsis Subaru America is a mainstream automaker offering middle-line priced automobiles. They offer a lot of value for consumers. The company experienced phenomenal success into the 1980s, but had to redesign itself slightly with the introduction of the Subaru Outback to compete in the trendy SUV market. Discussion Questions 1. How is Subaru using social media to help them remain competitive? 2. Explain how Subaru’s sustainable business practices help make them more competitive. 3. According to the video, what is the fastest growing segment of the American auto market? In your opinion, what factors are driving this trend? Text: Strategic Management and Business Policy 13/e Chapter 5: Internal Scanning: Organizational Analysis Topic: Internal Analysis Learning Objectives: 1. Identify core and distinctive competencies. 2. Understand a company’s business model. 3. Assess a company’s culture and how it might affect a proposed strategy. Video Title: iRobot: Competitive Strategy of Home Robots Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_iRobot_Competitive.html Synopsis iRobot was started just over 20 years in an effort to bring robots out of the lab and into the real world. They are most known for the iRobot Roomba® vacuum cleaning robot. This product helped to change how people view robots. iRobot continues to develop 4 robotic products to change the way customers include robots in their daily life. As of today, the company has robotic products in over 6 million homes. Discussion Questions 1. Which of the business models discussed in your text do you think best fits iRobot’s approach to product development? 2. Who is iRobot’s target market? How does this impact their product development? 3. How would you describe the culture of iRobot? How does this culture impact the way this organization does business at all levels? Text: Strategic Management and Business Policy 13/e Chapter 6: Strategy Formulation: Situation Analysis and Business Strategy Topic: Competitive Business Strategy Learning Objectives: 1. Organize organizational information using SWOT analysis. 2. Understand available competitive strategies. 3. Recognize the competitive tactics that accompany competitive strategies. Video Title: iRobot: Competitive Strategy of Home Robots Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_iRobot_Competitive.html Synopsis iRobot was started just over 20 years in an effort to bring robots out of the lab and into the real world. They are most known for the iRobot Roomba® vacuum cleaning robot. This product helped to change how people view robots. iRobot continues to develop robotic products to change the way customers include robots in their daily life. As of today, the company has robotic products in over 6 million homes. Discussion Questions 1. Based on the information presented in the video, conduct a SWOT analysis on iRobot. 2. Which of Porter’s competitive strategies best fits iRobot’s business model? 5 3. How would you describe the culture of iRobot? How does this company factor contribute to the competitive approach of iRobot? Text: Strategic Management and Business Policy 13/e Chapter 7: Strategy Formulation: Corporate Strategy Topic: Corporate Strategy Learning Objectives: 1. Understand different aspects of corporate strategy. 2. Develop a parenting strategy for a multiple-business organization. 3. Identify strategic options to enter a foreign country. Video Title: Oxfam America: International Strategy and Mission Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Oxfam_International.html Synopsis Oxfam America is an international relief and development organization. The company works in over 90 countries. It was founded in 1971. Oxfam America is headquartered in Boston, MA with 6 overseas offices in Latin America, Asia, and Africa. Discussion Questions 1. Does Oxfam America pursue vertical growth or horizontal growth? Explain your answer. 2. Although not a typical corporate structure, explain how Oxfam America’s approach to strategic management coincides with the concept of corporate parenting? 3. Which of the international entry options best describes Oxfam America’s approach to reducing poverty? Explain your answer. Text: Strategic Management and Business Policy 13/e Chapter 8: Strategy Formulation: Functional Strategy and Strategic Choice Topic: Functional Strategy Learning Objectives: 1. Identify functional strategies. 2. Use a stakeholder matrix to aid in strategic decision making. Video Title: Ecoist: Strategic Product Development Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Ecoist_Product.html 6 Synopsis Ecoist was founded in 2004. It is based in Miami. The company uses raw materials that are recycled to produce accessories such as purses and other products. The company “upcycles” waste. They work with companies like Mars, Coca Cola, and Frito Lay. The company leverages these partnerships to develop other partnerships with companies such as Disney. Discussion Questions 1. Explain how Ecoist uses the product development strategy to market their products. 2. How does Ecoist operations strategy support the company’s mission? 3. Describe Ecoist’s stakeholders and how each of them influences the company’s strategy? Text: Strategic Management and Business Policy 13/e Chapter 9: Strategy Implementation: Organizing for Action Topic: Organizing During Strategy Implementation Learning Objectives: 1. Understand the importance of synergy during strategy implementation. 2. Identify the importance of structure to successful strategy implementation. 3. Recognize stages of corporate development. Video Title: Oxfam America; Strategically Utilizing Music Outreach and Celebrities Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Oxfam_Celebrities.html Synopsis Oxfam America is an international relief and development organization. The company works in over 90 countries. It was founded in 1971. Oxfam America is headquartered in Boston, MA with 6 overseas offices in Latin America, Asia, and Africa. The organization utilizes music outreach and celebrities to successfully market their mission. Discussion Questions 1. How does Oxfam utilize music outreach and celebrities to implement their mission? 2. How does Oxfam America use their strategy to select artists who will aid in implementing their mission? 7 3. Based on the information presented in the video, Oxfam America is in what stage of corporate development? Explain your answer. Text: Strategic Management and Business Policy 13/e Chapter 10: Strategy Implementation: Staffing and Directing Topic: Strategic Staffing and Directing Learning Objectives: 1. Understand the link between strategy and staffing. 2. Discuss important issues in effectively staffing and directing international operations. 3. Assess and effectively manage a company’s corporate culture. Video Title: Root Capital: International Strategy Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Root_International.html Synopsis Root Capital is a way for capital and markets to work for small scale farmers in developing countries. Their mission is to grow real prosperity by investing in agricultural businesses that build sustainable livelihoods in Africa and Latin America. It was founded more than 10 years ago. There are 88 employees headquartered in Massachusetts. Discussion Questions 1. Describe Root Capital’s strategy for staffing their operations in Africa and Latin America. 2. How do you think the mission of Root Capital impacts the organization’s corporate culture? 3. Explain the international strategy of Root Capital. Text: Strategic Management and Business Policy 13/e Chapter 11: Evaluation and Control Topic: Evaluation and Control Learning Objectives: 1. Understand the basic control process. 2. Apply the benchmarking process to product development. 3. Develop appropriate control systems to support specific strategies. Video Title: Ecoist: Strategic Product Development 8 Link: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Ecoist_Product.html Synopsis Ecoist was founded in 2004. It is based in Miami. The company uses raw materials that are recycled to produce accessories such as purses and other products. The company “upcycles” waste. They work with companies like Mars, Coca Cola, and Frito Lay. The company leverages these partnerships to develop other partnerships with companies such as Disney. Discussion Questions 1. When analyzing Ecoist’s production process, what problems might they encounter in trying to initiate “input” controls? 2. How do you think Ecoist environmental business model might impact its corporate valuation? 3. In your opinion, what are some of the challenges Ecoist might face in trying to control their operations?