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please explain the three questions in the picture. Warby Parker is a relatively new player in the eyewear industry, but it's managed to make a
please explain the three questions in the picture.
Warby Parker is a relatively new player in the eyewear industry, but it's managed to make a big impact in a short masses. and nobody amount of time. Neil Blumenthal and his three partners ished people in developing founded the company i and affordable glasses frames. But the team also wants the charity that gives quality eyeglasses to people struggling brand to stand for its commitment to with its charitable partner, VisionSpring felt it had a mission to bring affordable eyewear to the then, for the company to join forces with VisionSpring. a with vision problems in some of the poorest countries in needed that tool more than impover- nations. It was a natural thing, n 2010 in order to sell sophisticated more than just profits, as evidenced by keeping prices low and its relationship the world. Warby donates a pair of glasses to the nonprofit for every pair that its customers buy. Together, they have put over a half-million pairs of glasses into the hands nlike other start-ups that face competition from many established companies, Warby Parker only has one major people whose livelihoods depend on them. competitor. However, it just so happens that this rival owns almost all of the bestselling eyewear and eyecare brands in American companies to get more involve the world. Since this large conglomerate doesn't create any global markets at the local level. For all its efforts, Vision- barriers to upstarts like Warby Parker from entering the Spring estimates that there are still over 700 million peopl market, it is technically not a monopoly and can operate worldwide who struggle to earn a living legally. Still, Warby's founders see this business model as ing quality glasses. The folks unethical since it allows one huge company to set prices Spring believe that once you see over an entire industry for maximum profit. VisionSpring hopes this model will inspire other on account of lack- at Warby Parker and Vision- hard to look the other wa Blumenthal and his partners didn't want to contribute o the imbalance of power between consumers and manu- THINKING IT OVER facturers, so they set out to form a different kind of com- 1. Is Warby Parker a good example of corporate social pany. From the outset, Warby Parker developed an ethical standard that focused on its most important stakeholder- its customers. Since the company saves money by selling responsibility? What dimensions stand out in measur- ing the company's social performance 2. What is a social audit and why do companies perform clusively online and designing and manufacturing its own frames, it is able to fix the price of every pair at a mod- est $95. Considering that its competitor's frames can be as costly as a new iPhone, Warby immediately caught the3. Do you believe most businesses in the United States interest of many stylish but budget-minded consumers. them? What factors would you consider in your social audit of Warby Parker? follow strict ethical standards? Make sure to offer some defense in support of your answer An organization operates in a larger world, and there are more stakeholders than just customers. Warby ParkerStep by Step Solution
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