For the External Factors Analysis Summary (EFAS), I used part of the Strategic Audit found in Appendix 1.A in Strategic Management and Business Policy Book as a resource, along with Table 4-5 as a guide, and from the readings of Scanning the Environment (Albright, 2004 Wheelen & Hunger, 2006). The external factors I looked at were advertising, number 1 central theme for selling, being able to sell All-American bears to foreign countries, determining who the other competitor's are, buying raw materials from aboard, Joan Martin's shares, other bear factory outlets, and property surrounding the factory (Wheelen &Hunger, 2006).
The Vermont Teddy Bear Company
Introduction
The Vermont Teddy Bear Company (VTBC) was founded in 1981 by John Sorinto. Unfortunately, for John, the company became too big for him to oversee since he was an entrepreneur. However, he gracefully stepped down in 1995 and supported the hiring of a new CEO that would lead the company into its future success (Vincelette, p. 27-3). One thing that has remained is the companies focus. The Vermont Teddy Bear's "...focus has been to design, manufacture, and direct market the best teddy bears made in America using quality American materials and labor." (p. 27-1) In fact, "American made with American materials" is the basis of the company's mission statement.
Planning for the future of Vermont Teddy Bear Co. Inc it is important that we consider conditions/trends in the internal environment of the company that may impact the future success of the company. These factors (conditions/trends) involve financial resources, human resources, the quality of products and services provided the efficiency of internal processes, student and stakeholder satisfaction, and the company culture. Sp ...