Justin Longenecker Research Paper
Justin Longenecker, J. P. (2011). Entrepreneur + Integrity - Living the Dream "One for One" (by Jessica Shambora). In J. P. Justin Longenecker, Small Business Management: Launching and Growing Entrepreneurial Ventures (p. 13). Cengage Learning.
The entrepreneur Blake Mycoskie started to create TOMS shoes out of his drive to help kids in Argentina with foot disease caused by walking barefoot. The company’s mission being charitable to kids with no shoes has resulted to a successful collaboration with other brands like Ralph Lauren and Element Skate Board. The One for One movement continues to grow as more companies are incorporating giving to what they do.
http://www.businessweek.com/articles/2012-08-09/corporate-social-responsibility-distinction-or-distraction …show more content…
This innovative idea resulted from a trip to Argentina where Mycoskie saw an overwhelming number of children without shoes. Toms Shoes recognized that consumers want to feel good about what they buy, and thus directly tied the purchase with the donation. In just four years, Toms Shoes has donated more than 400,000 shoes, evidence that consumers have clearly embraced the cause.
Opt for transparency
https://prezi.com/ejcsl9s3qclc/toms-shoes/ …show more content…
As it was mentioned that Mycoskie will use half of the proceeds from the sale to start a new fund to support socially minded entrepreneurship, and Bain will match his investment and continue the company’s one-for-one shoe give away policy.
The business has recently expanded beyond producing shoes, eyewear and coffee in Toms product lines- all with the same one for one theme. For every pair of eyeglasses purchased, Toms will help give sight to a person in need. For each bag of coffee beans sold a person will get clean water for a week. Tom’s model is perfectly crafted for millennial consumers who wants to feel good about their purchases but needs a clear, simple and tangible means of understanding the social purpose of the company through point-of-purchase marketing.
Hence, it is evident that millennial are Toms’ target demographic that are becoming social entrepreneurs in a big way too to make their own impact and for those who are with social missions, this development is a good step forward to show that social entrepreneurship can do good and do well
The entrepreneur Blake Mycoskie started to create TOMS shoes out of his drive to help kids in Argentina with foot disease caused by walking barefoot. The company’s mission being charitable to kids with no shoes has resulted to a successful collaboration with other brands like Ralph Lauren and Element Skate Board. The One for One movement continues to grow as more companies are incorporating giving to what they do.
http://www.businessweek.com/articles/2012-08-09/corporate-social-responsibility-distinction-or-distraction …show more content…
This innovative idea resulted from a trip to Argentina where Mycoskie saw an overwhelming number of children without shoes. Toms Shoes recognized that consumers want to feel good about what they buy, and thus directly tied the purchase with the donation. In just four years, Toms Shoes has donated more than 400,000 shoes, evidence that consumers have clearly embraced the cause.
Opt for transparency
https://prezi.com/ejcsl9s3qclc/toms-shoes/ …show more content…
As it was mentioned that Mycoskie will use half of the proceeds from the sale to start a new fund to support socially minded entrepreneurship, and Bain will match his investment and continue the company’s one-for-one shoe give away policy.
The business has recently expanded beyond producing shoes, eyewear and coffee in Toms product lines- all with the same one for one theme. For every pair of eyeglasses purchased, Toms will help give sight to a person in need. For each bag of coffee beans sold a person will get clean water for a week. Tom’s model is perfectly crafted for millennial consumers who wants to feel good about their purchases but needs a clear, simple and tangible means of understanding the social purpose of the company through point-of-purchase marketing.
Hence, it is evident that millennial are Toms’ target demographic that are becoming social entrepreneurs in a big way too to make their own impact and for those who are with social missions, this development is a good step forward to show that social entrepreneurship can do good and do well