MGT Warby Parker

Topics: Glasses, Strategic management, Sunglasses Pages: 2 (611 words) Published: January 18, 2015

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 cost of production. Their work structure is composed of 4 simple rules; 1. Treat customers the way we’d like to be treated, 2. Create an environment where employees can think bing, have fun, and do good, 3. Get out there (serve the community), and finally 4. Green is good! (Blumenthal, Gilboa, Hunt, & Raider) They are a company that focuses not only on profits but contributing positively to the world through their charities and their desire to build a model on how for-profit companies should behave. (Warby Parker: New Venture/Entrepreneurial Strategy) Who are the target markets for Warby Parker? Currently the main customers are the young demographic eyeglass wearers. Due to the lack of bifocals abilities and the “hip” aspect of this company’s online business the young demographic is the most appropriate consumers...

Cited: Blumenthal, N., Gilboa, D., Hunt, A., & Raider, J. (n.d.). Warby Parker. Retrieved 01 08, 2015, from Warby Parker: https://ca.warbyparker.com/?cvosrc=ppc.google.warby%20parker&network=g&mobile=&searchntwk=1&content=&creative=55333003648&adposition=1t1&placement=&target=&keyword=warby%20parker&matchtype=e&mkwid=samrtaBZM&pmt=e&pdv=c&utm_source=google&utm_medium=cpc&utm
David, F. R. (2013). Strategic Management Concepts and Cases. Florence: Prentice Hall.
Warby Parker: New Venture/Entrepreneurial Strategy. (n.d.). Retrieved 01 08, 2015, from Pearson: http://media.pearsoncmg.com/ph/streaming/bp/2013/MGMT/Strat/Strat2012_Warby_Venture.html
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Warby Parker Essay
  • Essay about Warby Parker: Factors Accountable for Success
  • Essay on Memo Warby Parker
  • Warby Parker Case Study Essay
  • incomplete mgt notes Essay
  • mgt 599 Essay
  • Parker Essay
  • MGT 3100 Project 2 Essay

Become a StudyMode Member

Sign Up - It's Free