Question

Warby Parker is a New York City eyewear startup that’s quickly disrupted the old fashion eyewear business. The company designs and manufactures its own trendy stylish frames and sells them directly to the consumers over the internet for $95. The company has begun opening brick-and-mortar store, with 11 open currently. Growth plans include expanding their product mix, diversifying their frame selection into areas such as kids’ frames and glasses with progressive lenses and exploring revolutionary technologies that would do eye exams online. What contingency factor might affect the planning Warby Parker executives do? How might those contingency factors affect the planning.

Answer 1

answer-

What contingency factor might affect the planning Warby Parker executives do? How might those contingency factors affect the planning.

1- Degree of environmental factors like technology and social trends because Warby Parker business is technology based which sells eyewears over the internet so company has to make sure that it can balance the business by both mediums online as well as brick mortar stores. Company should know that use of technology is not rigid. it keeps changing. also society needs and fashion trends can affect planing because there are some people in society who likes to shop online while likes to purchase from stores so it has to provide better services to both type of people in order to tackle these contingency factors.

2- Degree of competition this factor is very impactful because we can not predict what would be the strategy of our competitors in the market.but we can provide products which sets trend in the market in current as well in future so that we can never be fall behind our competitors.

3- Scarcity of resources- the lack of resources like funds, human resources in brick mortar store etc are some factors which can affect planning to expand business. so company should focus on allocating resources in effective manner and should have enough resources to execute the plan otherwise plan would be on the paper not be completed in real life.