1CASE STUDY OF WARBY PARKER 5-26. What competitive advantage does the organization Warby Parker has? What are the challenges and problems faced by the organization? AsComparedtothefunctionalaspectsthatareassociatedwiththerespective organization Warby Parker in the market, it is considered to be a stated part that in order to remain more competitive and goal oriented in the organizational functioning, it is important for them to adapt and introduce innovative strategies to gain strong mode of competitive advantage over their competitors (Demyanova et al., 2016). Some of the systems of competitive advantage factors that are related to the respective organization Warby Parker in the market are mentioned below: In order to ensure better system of sustainability in the market, it is important for them to introduce innovative designs that give a unique and differentiated approach to the customer minds. This is one of the key major parts where the company Warby Parker has given more emphasis on. In the different segments of eye wear business, they are considered to be the organization that offers branded and high quality products at reasonable and affordable value to the customers understanding their needs and wants in the respective product category. Products are delivered directly to the customer hands where they have innovative and advanced online platforms to make the products reach the customers ensuring better system of reliability and feasibility (Kiznyte, Welker & Dechange, 2016). Challenges Faced by Warby Parker The first and foremost challenge faced by the organization was associated with their divisions which were based on social innovation. The first motive was where they had
2CASE STUDY OF WARBY PARKER to encourage the customers who were interested with the company’s social projects. Under this respective part, the key issue was many of their customers were unaware about these respective activities. The second major challenge related to the organization in involved the system of rallying the employees associated with the organization around social activities (Chang, Lo & Lee, 2016). The organization was not confident whether the respective initiative made may be beneficial to them to operate further with more effectiveness. The third part of challenge was associated with the growth of the organization, where due to rapid growth in their business it was important for them to merge with their partner base. The key issue faced under this respective part is where it was difficult for them to identify other organization which can easily operate with their current goals and strategies. 5-25. What are the contingency factors affecting the planning of Warby Parkers and how this will affect their planning process in their operations? Some of the major contingency factors that generally affect the planning operation of the organization Warby Parker are mentioned below: The first and foremost factor under this respective part is associated with the changes in the planned strategy of the company on a regular basis. This can create a negative impact under the planning structured by the top level management of the organization Warby Parkers where the strategies are designed as per the organizations future objectives and missions.
3CASE STUDY OF WARBY PARKER The major part is associated with the environmental changes that can be caused in the current and in the future operations where this respective part can create a rapid impact on the decision making system of Warby Parkers (Kuratko et al., 2017). As a part of change some of the key consequences that can be faced by the company can be related to the process where it will be difficult for them to adapt the newly introduced changes under the current operational method. On the other hand remaining more responsive and flexible to the current changes can be a challenging part in the future. The third major factor is related to the system of technological measures that are associated with the market operation of the organization (Ikeda,Marshall & Okamura, 2016). Some of the major technological factors basically involve knowledge, work procedures, machinery and materials that generally convert the input of the company into output. Bringing advanced measures and innovation to the current technological factors depending upon the customer preferences and interest can be a challenging part for Warby Parkers to implement. 5-24. What type of plans can best suit for the organization to operate further (long terms or short term plans). According to the functional part that is related to the organization Warby Parkers in the market, adopting a better mode of long term strategies can be more beneficial for them to operate further on an effective basis. Some of the major advantage of adopting long term plans within the internal environment of the organization is mentioned below. Under the current market operation of Warby Parkers, the organizational generally have to face strong market competition over their competitors. In this respective part
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4CASE STUDY OF WARBY PARKER there can be high chance of causing risk in the internal environment of the company which can be related to their product strategies, customer interest and product positioning (Aufmann & Gillotte, 2015). Adopting a long term plan can enable to understand the current and future trends that is required to be implemented in order to overcome the future risk factors which can be caused. Long term plans helps the company in spreading the cost that are associated with the organization where this can be an adaptive platform for them to maintain a better profit margin and revenue system to adopt strong competitive advantage in the future. According to the company Warby Parkers during the time of introducing new product segments and designs and at the time of adopting a change in the current pricing strategies, the particular mode of test marketing system can only be performed under the long terms planning methods. This can help them to understand the future risk factorsandotherdiscrepancieswhichcanbecausedinthefuturemarket competitions. 5-23.What is the importance of goals in Warby Parkers Future? What can be some of the major goals that are required to be implemented by them to operate further? As compared to certain factors that are related to the goal setting process of the company Warby Parkers, this can help them under the area of understanding the actual purpose that is associated with the respective organization in the current market (Denning, 2018). This can help them in order to provide better assistance under the area of growth factor of the company along with achieving the organizations financial objectives.
5CASE STUDY OF WARBY PARKER Effective goal setting process can be an adaptive platform where they can achieve strong mode of competitive advantage in the market along with understanding the company’s actual vision. Some of the major goals that are required to be implemented by the company Warby Parkers generally include management performance and employee goals along with giving more emphasis on goals that are related to social responsibility and market share that is associated with the respective organization in the market.
6CASE STUDY OF WARBY PARKER References Aufmann, C. E., & Gillotte, J. (2015).U.S. Patent Application No. 14/447,586. Chang, A., Lo, W., & Lee, S. Y. (2016). Heightened Corporate Social Responsibility: Insight fromtheEvolvingValueCreationofBuy-OneGive-OneModel.Journalof SmallBusiness and Entrepreneurship Development,4(2), 11-20. Demyanova, O. V., Gismatulina, A. H., & Shaukov, R. T. (2019). efficiency improvment of personnel in a medical organization via a process approach: case of medical and sanitary part of kazan federal university. Denning, S. (2018). Succeeding in an increasingly Agile world.Strategy & Leadership. Ikeda, K., Marshall, A., & Okamura, S. (2016). Four steps to re-ignite Japan’s innovation leadership.Strategy & Leadership. Kiznyte, J., Welker, M., & Dechange, A. (2016). Applying project management methods to the creation of a start-up business plan: the case of Blendlee.PM World Journal,5(5), 1-24. Kuratko, D. F., McMullen, J. S., Hornsby, J. S., & Jackson, C. (2017). Is your organization conducivetothecontinuouscreationofsocialvalue?Towardasocialcorporate entrepreneurship scale.Business Horizons,60(3), 271-283.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.