5 pages APA
TOMS – Start Something That Matters
For longer than we care to admit, CSR- shorthand for corporate social responsibility- was a noble goal. The core idea- minimizing the negative impact a company has on society while maximizing the positive- often translated into philanthropy: make a donation, sponsor a good cause, encourage employees to work in the community. These were good things to do, but they were often treated as side projects, peripheral to the business and followed more by the marketing department than the C-suite.
We know this now because we are seeing, thanks to some forward –looking companies, a better way to do CSR- one that can bring bigger benefits, not to just society, to be businesses themselves.
Some innovative entrepreneurs are using CSR approaches to start new (ad) ventures to craft their brand mantra. They are using CSR to frame their brand story, drive sales and inspire their customers to feel good as they make their purchase. It is purposeful purchasing to benefit humanity.
Social media allows the smallest idea to spread across the globe.
Blake Mycoskie found his inspiration while on vacation in Argentina wearing a soft, casual canvas shoe worn by almost everyone in the country, from polo players to farmers to students. He had the idea to bring this type of shoe to the American market. But how… ?????
… He met an American women in a café who was volunteering with a small group of people on a shoe drive. She explained to him that so many kids lacked shoes, even in relatively well developed countries like Argentina, an absence that didn’t just complicate their lives, but also exposed them to a wide variety of diseases
These seemingly unrelated events became the foundation of his new business. He would become inspired to look for a solution(s) that would allow him to solve each of those two issues. He wondered could he find a way that would combine his sense of entrepreneurship, business and make a profit that would allow him to get shoes on needy children.
His solution was TOMS.
Blake knew nothing about making shoes, importing shoes, the shoe business or nor had the financial resources to even begin. But he had an idea.
His idea was to start a company that makes a new kind of shoe similar to the kind that he wore in Argentina. For every pair that he sold, he was going to give a pair of new shoes to a child in need. It was a simple concept: Sell a pair of shoes today, give a pair of shoes tomorrow.
Is this the new model for starting a business? No money, no knowledge of the product but something that when sold really helps humanity. In a five-page (5) paper present your views on the TOMS model: With every pair you purchase, TOMS will give a pair of new shoes to a child in need.
In a five (5) page paper answer these questions:
In your opinion is the “buy one, give one” a sustainable business plan? Why or why not and provide support in defense as to your opinion?
How does the TOMS story appeal to Customers? Employees? Business Partners? The Media?
TOMS is unusual in that it’s a for-profit company that actively incorporates giving into its business model. Can you think of other examples of giving-based businesses? How are these companies similar to and/or different than TOMS?
Other companies have copied TOM’s model- do you consider this approach when making a purchase?
Bain Capital LLC recently acquired a 50% stake in the company. In your opinion does this hurt or help the company? Elaborate as to your opinion.
You Need to turn in to the Turnitin evaluation, 1.5 spacing and 11 pt front