Innovation Report- Toms Shoes
Innovation Project: BUS 4630-06
February 2, 2011
Veronica Creamer, Alex Hohmann,
Adam Holcombe, & Ian Swapp
“THE IDEA WAS GENIUS, really.”
TOMS Shoes has provided one of the most innovative business ideas the early 21st century has seen. Through the “One for One Movement”, TOMS has ushered in a truly altruistic business model which cannot be ignored by the broader consumer goods industry. By describing what TOMS Shoes is, why it is important, how the One for One idea originated and evolved functionally, and the business model utilized to compel it, a clear void is filled not only for those whose lives are affected at the Bottom of the Pyramid but also in the modus operandi of business in the United States today. This point is also exemplified by delving into the supply chain and specifically what drives the company and its unique features. Lastly, by examining Blake Mycoskie, founder and CEO, and the culture he has created for his novel company, TOMS Shoes’ success via their innovation is pinpointed.
Although it also operates a non-profit subsidiary, TOMS Shoes is a for-profit footwear company based in Santa Monica, California. Founded in 2006, the company designs and sells unique shoes while concurrently donating, with every pair sold, a new pair of shoes to a child in need. Derived from the word “tomorrow” and the original concept, “Shoes for a better Tomorrow Project”, TOMS Shoes has become synonymous with the One for One Movement. It has leveraged this unique model into partnerships with companies like Ralph Lauren and Element Skateboards.
Originally Mycoskie grappled with the idea of a charity based organization. However, with sustainability in mind, he knew that starting a for-profit business would have a lasting impact. Furthermore, by turning customers into benefactors, his business plan is even more stable as it does not depend on fundraising for support. TOMS Shoes is a marvel business idea that allows its customers to feel good
February 2, 2011
Veronica Creamer, Alex Hohmann,
Adam Holcombe, & Ian Swapp
“THE IDEA WAS GENIUS, really.”
TOMS Shoes has provided one of the most innovative business ideas the early 21st century has seen. Through the “One for One Movement”, TOMS has ushered in a truly altruistic business model which cannot be ignored by the broader consumer goods industry. By describing what TOMS Shoes is, why it is important, how the One for One idea originated and evolved functionally, and the business model utilized to compel it, a clear void is filled not only for those whose lives are affected at the Bottom of the Pyramid but also in the modus operandi of business in the United States today. This point is also exemplified by delving into the supply chain and specifically what drives the company and its unique features. Lastly, by examining Blake Mycoskie, founder and CEO, and the culture he has created for his novel company, TOMS Shoes’ success via their innovation is pinpointed.
Although it also operates a non-profit subsidiary, TOMS Shoes is a for-profit footwear company based in Santa Monica, California. Founded in 2006, the company designs and sells unique shoes while concurrently donating, with every pair sold, a new pair of shoes to a child in need. Derived from the word “tomorrow” and the original concept, “Shoes for a better Tomorrow Project”, TOMS Shoes has become synonymous with the One for One Movement. It has leveraged this unique model into partnerships with companies like Ralph Lauren and Element Skateboards.
Originally Mycoskie grappled with the idea of a charity based organization. However, with sustainability in mind, he knew that starting a for-profit business would have a lasting impact. Furthermore, by turning customers into benefactors, his business plan is even more stable as it does not depend on fundraising for support. TOMS Shoes is a marvel business idea that allows its customers to feel good