IFAS (Internal Factor Analysis Summary)
Employee training and loyalty0.0550.25Key to Tourist success Remote access and ordering0.2040.80800 # and internet
Product quality0.1550.75Good quality and guarantee
Customer Satisfaction0.2040.80Customers are satisfied
High Prices/Cost0.1510.15Reduce prices through out sourcing Retail stores0.1020.20Especially NY
Weak financial position0.1530.45Losing Money
TOTAL SCORES1.00 3.40
EFAS (External Factor Analysis Summary)
The West and Northwest of US0.1520.30WA, OR, ID and CA
Global Positioning0.1710.17Currently only in US
Reduce cost by outsourcing over seas0.2020.40Labor overseas 0.00
Toy competitors0.1040.40Stuffed animals
Remote gifting competition0.1540.60Flowers, Cards, Candy, Cookies Build-A-Bear0.0820.16Cheaper w/convenient stores
TOTAL SCORES1.00 2.48
SFAS (Strategic Factor Analysis Summary)
Reduce cost by outsourcing over seas (O + W)0.2020.40Labor overseas Global Positioning (O)0.1510.15Currently only in US
Remote gifting competition (T)0.1540.60Flowers, Cards, Candy, Cookies Build-A-Bear (T)0.0520.10Cheaper w/convenient stores
Product quality (S)0.1550.75Good quality and guarantee
Remote access and ordering (S)0.1550.75800 # and internet High Prices/Cost (W)0.1520.30Reduce prices through out sourcing TOTAL SCORES1.00 3.05
There are many changes facing the Vermont Teddy Bear Company Inc.'s new CEO. She needs to make the company profitable and position it to stay profitable in the future. There are many factors that influence the position and profitability of a company.
The Vermont Teddy Bear Company has several strengths the CEO can emphasis to help the company and improve motivation. The first strength is employee training and loyalty (Wheelen & Hunger, 2004). We know that the company's employees are not unionized (Wheelen & Hunger, 2004). The company also does not seem worried about the possibility of their employees unionizing, showing the employees are happy and content (Wheelen & Hunger, 2004). This is a wonderful strength for the company. Happy and content employees are essential to the prosperity of the tourist business that exists in their Vermont factory (Wheelen & Hunger, 2004).
Remote access ordering is another of the company's strengths. There are increasingly three kinds of people, those who want to go to the store, those who want to order over the phone and those who prefer the internet (Wheelen & Hunger, 2004). Online ordering and the 800 phone number provide fast and convenient access to the company's products and give customers the option to use which ever method is more comfortable for them. Many companies are establishing online order models to provide convenience for consumers, this is essential to the success of the Vermont Teddy Bear Company they stay on top of internet technology (Wheelen & Hunger, 2004).
The Vermont Teddy Bear Company has a very high quality product and customers are very satisfied (Vermont, 2005). The company's jointed bears are dressed to the specifications of the consumer and then back be a lifetime guarantee (Vermont, 2005). If anything happens to the bear they will replace no matter what caused the damage (Vermont, 2005). Most of the bears bought through the Vermont Teddy Bear Company are bought as collectables instead of toys so the risk that they will...