Warby Parker: New Venture/Entrepreneurial Strategy
COVER PAGE
Abstract
Warby Parker is an online eyeglass company that was founded by 4 college students that encountered a financial stumbling block and decided to provide a solution not only for themselves, but everyone with this need. These 4 young men embarked on a journey to provide an alternative to overpriced eyewear and build a business of solutions not problems (Blumenthal, Gilboa, Hunt, & Raider). In doing so they have created a unique organization that values their employees, customers, and not-for-profit partnerships.
Warby Parker’s strategic approach in selling eyewear is an innovated online business that sells for a fraction of the cost of other brick and mortar stores. Dave Gilboa says he went back to school in order to create an organization that had a positive impact in the world. (Warby Parker: New Venture/Entrepreneurial Strategy), this is one reason why for every pair of glasses sold they donate one to VisionSpring, a nonprofit organization. The founders of Warby Parker were able to solidify deals with manufactures directly, eliminating the need for a middle man, which helps cut the …show more content…
The structure they created with their direct relationship with the manufactures keeps products high end. As the company grows they will be able to maintain their competitive advantage because they can reach more consumers while maintain their low cost productions.
A collaboration between four college friends created a pioneer structure to affordable prescription eyewear and increasing donations to the needy. During a time that the market was dominated by larger companies that kept prices astronomically expensive, the friends bypassed the current market place practice and began interacting with customers and manufactures directly, which allowed consumers to enjoy high-quality products for under
Abstract
Warby Parker is an online eyeglass company that was founded by 4 college students that encountered a financial stumbling block and decided to provide a solution not only for themselves, but everyone with this need. These 4 young men embarked on a journey to provide an alternative to overpriced eyewear and build a business of solutions not problems (Blumenthal, Gilboa, Hunt, & Raider). In doing so they have created a unique organization that values their employees, customers, and not-for-profit partnerships.
Warby Parker’s strategic approach in selling eyewear is an innovated online business that sells for a fraction of the cost of other brick and mortar stores. Dave Gilboa says he went back to school in order to create an organization that had a positive impact in the world. (Warby Parker: New Venture/Entrepreneurial Strategy), this is one reason why for every pair of glasses sold they donate one to VisionSpring, a nonprofit organization. The founders of Warby Parker were able to solidify deals with manufactures directly, eliminating the need for a middle man, which helps cut the …show more content…
The structure they created with their direct relationship with the manufactures keeps products high end. As the company grows they will be able to maintain their competitive advantage because they can reach more consumers while maintain their low cost productions.
A collaboration between four college friends created a pioneer structure to affordable prescription eyewear and increasing donations to the needy. During a time that the market was dominated by larger companies that kept prices astronomically expensive, the friends bypassed the current market place practice and began interacting with customers and manufactures directly, which allowed consumers to enjoy high-quality products for under