Strategic Management and Business Policy - Scanning the Environment - Vermont Teddy Bear Company

Essay by teslateeUniversity, Bachelor's January 2006

download word file, 4 pages 5.0

Downloaded 93 times

The Vermont Teddy Bear Company was founded in

1981 by John Sortino. He started this business by selling

hand sewn teddy bears that he himself made and sold out of

a pushcart in the streets of Burlington, Vermont. Until

1994, Vermont Teddy Bear Company was very successful

and very profitable as a small business industry.

The corporation had created many challenges and

John felt his entrepreneur days had come to an end and he

had recognized that the future success of his company was

dependant on a transition to a professionally managed

organization. The company took on a new CEO

and the new management team started to explore new

opportunities for growth. The uphill climb with the retail

business took off but only to fall once again. This is when

the position of CEO had changed and Elisabeth

Robert was elected into this role. Roberts

acknowledged that there company was in the "Bear gram"

business, the gift business and the impulse business.


seeing that their competitors were the very companies that

sold chocolates, flowers, and greeting cards for last minute


Robert's largest challenge was realizing that their

primary focus of the company would return to maximizing

returns in the radio bear gram business, which contributed

to the majority of the company's annual revenue. (Wheelen

& Hunger).

The vision statement is a concise declaration of the

direction that an agency is planning to take into the

preferred future. A key element in the vision process is a

review, or scan of the external and internal environmental

factors that may impact an agency over the next several

years. This vision for The Vermont Teddy Bear brand

represents the rich heritage of the "Great American Teddy

Bear" manufactured the best teddy bear in America, by

using American products and labor. (Wheelen...