In addition to using the case study provided in the textbook, research the company further to find any relevant events that have transpired since the writing of the case study.
Use the TOMS website, Internet search engines such as Google, online data services, or other sources to locate the latest articles about the company including press releases and current financial information. Be sure to cite all sources according to APA guidelines.
Note: For assistance with analyzing any financial data in this case, Table 4-1 (Key Financial Ratios: How to Calculate Them and What They Mean) in your textbook is a useful reference.
Consider the expression “timing is everything” in relation to the building of the TOMS brand. Besides the influence of recovering economic conditions and the increased affluence of potential customers, what forces contributed most significantly to TOMS growth and market share? In your answer, consider the following:
Which cultural/social concepts and/or norms influenced a potential buyer to purchase TOMS products? Detail the impact of your identified concept/norm on TOMS growth.
Do you think that most businesses can successfully leverage the same cultural/social concepts and/or norms that TOMS did? Be descriptive in your response, and, if appropriate, identify a company/business that has put such principles to work to their advantage.
Review the TOMS website (especially the section on “Impact”) and access the “Code of Business Practices via the link below. Of the elements of the Code, select three and review them in terms of ethical behavior and corporate social responsibility (CSR). Explain how they will affect customers, suppliers, employees, or society at large.
TOMS CODE OF BUSINESS PRACTICES
Explain what is meant by the term sustainability. Describe actions, principles, and practices of TOMS that are consistent with sustainability. Also describe any of the practices or actions of TOMS that might fail to qualify as sustainable. In other words, provide relevant examples of both sides of sustainability at TOMS.
TOMS Founder and CEO Blake Mycoskie identified a problem, synergized an approach for resolution, and created an infrastructure for execution. Mycoskie built his company on the promise of “One for One,” donating shoes on par with shoes purchased. Evaluate how well that slogan encapsulated Mycoski’s vision and corporate commitment. Be both specific and expansive in your response, providing examples to support your perspectives.
