How Socially Responsible Is Vermont Teddy Bear - Case Study Example

How socially responsible is Vermont Teddy Bear? Make sure to fully explain your response. By maintaining a strong relationship with its s, Vermont Teddy Bear was adding value for them. The case is quite clear about how serious the company takes its relationship with the customers (LHMVTB Case). This is the only way they could totally make sure of a strong attachment with them by having full understanding of their actual needs. This could not only guarantee adding high value for customer service, but a substantial profit on the company’s part at the same time. The good point showcasing about being socially responsible in the given case is the idea that Vermont Teddy Bear was trying to consider their customers as partners, which is tantamount to the the actual formation of relationship with its customers. In doing so, they only are not going to earn long-standing trust, but above all, the ability on the part of the customers to distinguish the kind of service they provide. Vermont Teddy Bear therefore knew the key to a long-lasting penetration and operation in the market and that is to create a meaningful relationship with their customers, an act that one could potentially consider as socially responsible. Here is another important point how Vermont Teddy Bear has become socially responsible. It was able to support charitable causes (LHMVTB Case). Supporting charitable causes is an indication that the company is trying to involve and consider itself as integral part of the community. It does not stand alone by itself, but has considerable obligations for the people and the community as a whole. In addition, Vermont Teddy Bear strongly adhered to understanding customers’ needs. Criticism concerning its insensitivity was not directly coming from the customers, but from a national agency trying to be closely critical about its products. Vermont Teddy Bear has remarkable point not to listen to this criticism because for them there was a positive approval and response from the customers concerning their product offerings (LHMVTB Case). It is clear that through this incident, Vermont Teddy Bear must be a customer-centric organization that would be willing to understand customers’ needs and create decisions based on these requirements. The case therefore has remarkably shown the level of Vermont Teddy Bear’s socially receptive response by highlighting their ability to directly listen to the customers’ needs and build their critical decision on these patterns. 2. Discuss the external environmental factors that impact VTB overall. Additionally, discuss the external environmental factors that impacted this particular situation/controversy. Explain specifically how the external environmental factor(s) impacts VTB overall and this particular situation. In general, Vermont Teddy Bear’s actual business growth were influenced by seasons of the year and technological advancement associated with sharing marketing information such as the presence of internet and other relevant media (LHMVTB Case). In fact, the remarkable controversy against Vermont Teddy Bear occurred in February which is the month of the year noted for the celebration of Valentines day. Moreover, the ability of the company to generate sales and income was due to the easy implementation of direct marketing via phone calls and its website. In other words, social activities and advancement of communication technology have evidently paved a way for Vermont Teddy Bear to spread its influence to its market industry. However, the socio-political response could have a significant impact on Vermont Teddy Bear as its criticism against the company’s product offerings could create a negative marketing advantage over the actual product involved in the controversy. The national agency was reacting badly against the very controversial one product of Vermont Teddy Bear which is an indication that there is a great deal of issue that needs settlement on the part of the company. In addition, this issue or controversy could also be a damaging factor that could move against the actual prevailing reputation of Vermont Teddy Bear in its industry. Ethical issues were relevant points that needed to have further attention. Failure to do it on the part of Vermont Teddy Bear could have other future relevant impacts, disadvantages and unwarranted discomforts on the part of the company. The positive social response from the customers on the other hand was an opportunity for Vermont Teddy Bear to effectively justify its moves and create a contradictory response towards criticism. This was a strong factor trying to build up its confidence to pursue whatever it has on its mind in line with its ability to employ its relevant decisions and marketing actions. Finally, the economic factor on the other hand also could prove to be a remarkable justification why Vermont Teddy Bear was quite hesitant to accept criticism. On its point of view, customers were seeing a need and positive approval of its products in the first place through a substantial volume of sales. This was a significant measure that customers were actually telling the point that there was no actual problem with its controversial product, leading to the point of establishing its potential market share. This gives them the idea to go on with their business and formulate additional profitable investment that would bring them corresponding success in the future. 3. How was the controversy both positive and negative for the company? For Elisabeth Robert? (hint: this response relies less on the course materials than the previous two responses). For the company, the controversy was a positive thing as it creates more substantial attention towards the controversial product. This could allow the company to justify its point that the market has positive approval of its product by trying to be transparent on how much actual sales they actually generated from the stated controversial offering. On the other hand, the negative point of the issue against the company would be its inability to listen to the said criticism which at the other side of the story will lead to the issue of social responsibility. The national agency which stood still on its criticism against the company’s controversial product could substantially promote the idea about the company’s becoming too self-focused on making profit rather than initiating its social obligation as an organization. For Elisabeth Robert, the positive aspect of her decision was clearly the remarkable earning she has contributed to the organization. At the other side, this also has created a remarkable attention towards both the company and the products which could be her living legacy for the company. Other than these, she must be facing the issue associated with its moral obligations to the community. She therefore has to remarkably withstand the negative criticisms brought by the combined socio-political factors, which is a serious point for her consideration. Read More