Violet Dreams is a company engaged in the manufacture of dolls, pillows, and stuffed toys teddy bears, dogs, rabbits, elephants, whales, and others. Founded 40 years ago, the company started simply as a hobby of the owner who was then fond of sewing and making small handcrafted giveaways. From then on, Violet Dreams expanded to what it is today. The company has so far grown, having withstood the economic ups and downs that the country experienced in the past. The vision of Violet Dreams is to see that its stuffed toys are cuddled in the arms of young children while feeling comfort and security. Thus, the company continues to manufacture stuffed toys that are smooth, soft, and safe to touch. As a result, Violet Dreams' products are intricately sewn in mellow and calming colors like soft blue, pink, white, beige, light green, and others. So far, the company has successfully created this market niche. A sole proprietorship, Violet Dreams has no less than 95 sewers, including designers, cutters, handcrafters, cleaners, packers, salespeople, and delivery personnel. Except for the sewers and handcrafters who are paid by piece, the others are paid weekly or monthly. In addition, Violet Dreams sells its stuffed toys through its own specialty stores. So far, the company manages 12 outlets each located in one of the leading malls in the country. Good sales are particularly generated during special occasions like Christmas and Valentine's Day. Although Violet Dreams' stuffed toys are considered popular birthday gifts, maintaining 12 stores has become very challenging for the company, considering the seasonality of its products. During the company's lean months, monetary obligations in terms of rental payments, utilities, and salary wages have become a burden to the company. Hired as a consultant, how can you help the owners of Violet Dreams given the challenges confronting them? Using case analysis, what strategies can you propose to help keep them financially afloat and in time profitable? Prepare an action plan.
Violet Dreams is a company engaged in the manufacture of dolls, pillows, and stuffed toys teddy bears, dogs, rabbits, elephants, whales, and others. Founded 40 years ago, the company started simply as a hobby of the owner who was then fond of sewing and making small handcrafted giveaways. From then on, Violet Dreams expanded to what it is today. The company has so far grown, having withstood the economic ups and downs that the country experienced in the past.
The vision of Violet Dreams is to see that its stuffed toys are cuddled in the arms of young children while feeling comfort and security. Thus, the company continues to manufacture stuffed toys that are smooth, soft, and safe to touch. As a result, Violet Dreams' products are intricately sewn in mellow and calming colors like soft blue, pink, white, beige, light green, and others. So far, the company has successfully created this market niche.
A sole proprietorship, Violet Dreams has no less than 95 sewers, including designers, cutters, handcrafters, cleaners, packers, salespeople, and delivery personnel. Except for the sewers and handcrafters who are paid by piece, the others are paid weekly or monthly. In addition, Violet Dreams sells its stuffed toys through its own specialty stores. So far, the company manages 12 outlets each located in one of the leading malls in the country. Good sales are particularly generated during special occasions like Christmas and Valentine's Day.
Although Violet Dreams' stuffed toys are considered popular birthday gifts, maintaining 12 stores has become very challenging for the company, considering the seasonality of its products. During the company's lean months, monetary obligations in terms of rental payments, utilities, and salary wages have become a burden to the company.
Hired as a consultant, how can you help the owners of Violet Dreams given the challenges confronting them? Using case analysis, what strategies can you propose to help keep them financially afloat and in time profitable? Prepare an action plan.
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EXECUTIVE SUMMARY
I. BACKGROUND: ISSUES AND CONCERNS
II. STATEMENT OF THE PROBLEM
POINT OF VIEW
VI. CONCLUSION AND RECOMMENDATIONS
VII. ACTION PLAN
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