Unit 2 Discussion

docx

School

Park University *

*We aren’t endorsed by this school

Course

495

Subject

Management

Date

Apr 3, 2024

Type

docx

Pages

Uploaded by erynsorbello

1. Take a look at your group's company and discuss its strategic plan. Does its plan trace from its vision to its mission, then its objectives, and lastly to its strategy? When looking into Stanley, I couldn’t exactly find the mission of the company spelled out. I did find some information about what the company stands for and I see that as its mission statement. The Stanley website states that the company is built on invention, innovation and inspiration with a timeless spirit that complements your wild imagination (About Stanley, 2024) . The creator of Stanley, William Stanley Jr. had a goal to help create a more sustainable and less disposable life which I believe can be seen as the companies vision and values. Objectives are when an organization sets performance targets which are specific results that the company wants to achieve (Thompson, Peteraf, Gamble, & Strickland III, 2018) . Stanley has put a lot of focus into the Quencher cups, better known as the Stanley Tumblers. These cups have taken off and have taken the top product spot as of 2020 (Vega & Shamo, 2023) . The company started to shift its focus, objectives and strategy when Terence Reilly joined the company in 2020. Terence took charge of seeing what was working and not. He decided that the Quencher H2.0 had potential to reach a new customer base (Shamo & Vega, 2023) . This brought Stanley to the huge success it is today with the popular and viral cup. 2. As a second subject, discuss what factors your company must access within its industry and competitive environment. In Stanleys 2023 Impact Report, the report addressed Stanleys supply chain and the new initiatives that have been put in place to set them apart from rival companies. In that section, Stanley speaks on the new co-founded Outdoor Industry Association (OIA) which has been created to increase efforts to decarbonize manufacturing, which is a first of its kind in the industry (Stanley Impact Report, 2023) . This is a new program that is setting the company apart from its competition. Stanley has risen above many of the companies’ competitors over the past four years with the Quencher series of cups. Stanley has done multiple limited releases of colors of cups though Target and Starbucks to create a sort of supply and demand scenario. Making the cup hard to get which keeps re-stocks of the cups flying off the shelves. References About Stanley . (2024, March 19). Retrieved from Stanly1913: https://www.stanley1913.com/pages/about-stanley Shamo, L., & Vega, N. (Directors). (2023). How Stanley Turned a 110- Year-Old Water Bottle Into A $750 Million Business [Motion Picture]. (2023). Stanley Impact Report. North America: Stanley, A HAVI Company.

Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland III, A. J. (2018). Crafting and Executing Strategy: The Quest for Competitive Advantage. New York: McGraw Hill-Education. Vega, N., & Shamo, L. (2023, December 23). How a 40-ounce cup turned Stanley into a $750 million a year business . Retrieved from CNBC: https://www.cnbc.com/2023/12/23/how-a-40-ounce-cup- turned-stanley-into-a-750-million-a-year-business.html https://www.empathymarketing.co/blog/stanley-1913-brand-positioning-case- study https://www.cnbc.com/2023/12/23/how-a-40-ounce-cup-turned-stanley-into-a-750- million-a-year-business.html https://safe.menlosecurity.com/doc/docview/viewer/ docN4294D3E371ADd8665af437c5c4a35bfd83b0765bcfba16b4030a92a5550aaf7896e583b89b65

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

Part 2 Report Grading Rubric (2).docx

Instructions - Relationship Significance Testing Lab + HW.docx

Chapter 3 Meeting Summary.docx

Organizational Development ASSIGNMENT .docx

ResponseSummary.pdf

Individual Case1 1207.docx

1-4 Video Check-In- Learner-Instructor Connect.docx

2-2 Memo- Performance Evaluation.docx

Harley Davidson Case .docx

PO1002_PreAssessment_TBarrett.docx

quiz2.docx

quiz 3.docx

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

Foundations of Business (MindTap Course List)

Marketing

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing