Characterisitics of Business Leadership: Vera Wang

1697 Words Nov 28th, 2011 7 Pages
CHARACTERISTICS OF BUSINESS LEADERSHIP: VERA WANG

Describe the business leader’s primary business or businesses, highlighting how the leader got started and analyze the leader’s three (3) major business challenges in establishing and/or running the company.

Vera Wang began her career in the fashion industry in 1971, working her way up the corporate ladder to Senior Editor for Vogue. In 1987, she began working for Ralph Lauren, dealing primarily with accessories.

In 1987, out of frustration with the lack of options to suit her sophisticated taste, she designed her own wedding gown, commissioning a seamstress to assemble it. This inspired her to launch Vera Wang Bridal House Ltd., in the Carlisle Hotel on Madison Avenue, New York City.
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Her plan is to make her product “widely known and widely worn”. The Ready-to-Wear line is exclusively featured at Kohl’s department store, affordable to the less wealthy customer.

Challenge No. 3: Another challenge Vera Wang has faced is the shorter turn around times between shipments of new lines. She’s had to adjust her line of thinking and operations to suit the need for a new line, every couple of months, rather than the twice a year that it once was. This also reduces the time to select which pieces will be successful, in each new line, increasing the risk for poor sales, should they make the wrong choices in these selections. Not only is selection of pieces important (as trends and climate vary by area), but they are allotted less time to make such decisions as what sources for material they will use, where different components will be made and assembled and what path of shipment will be utilized.

CHARACTERISTICS OF BUSINESS LEADERSHIP: VERA WANG

Analyze this business leader’s leadership style and discuss how he or she has adapted to cultural differences and how he or she operates the business effectively in global markets.

Her leadership style reduces the pains, somewhat, in the challenge just mentioned. She’s been quoted as stating, “You’re only as good as your team”. Executives, who work for her, assist her in making these decisions. These