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Running head: VERA BRADLEY CASE
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Vera Bradley Case
Name
Institution Affiliation
Date
VERA BRADLEY CASE
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Resources Critical to Getting the Company Off The Ground
Vera Bradley had been a bag company that made tremendous efforts to ensure that their
products reached their destined customers. The cottage industry business started from the humble
beginning where the partners used to conduct their operations from a basement of one of the
founders. The two partners (Barbara and Pat) worked tirelessly to influence business growth.
However, they experienced challenges in resources while getting the company off the ground.
The partner’s encountered problems with the initial financing of the business. At first, they
started the business with little capital that was enough to make prototypes. Next, Barb and her
husband visited a colleague who offered to step into the company after she explained the
business idea.
Further, they over-relied on a bank officer, Robert Marshall for loans to support the
company. Additionally, the lack of knowledge of financing on both partners impacted negatively
on business growth. Inadequate finances forced their financial advisor to mortgage the two
partner’s houses through bank credit to raise more capital that would finance the business.
The partners lacked a financial executive who could influence the commercial usage and
profits that emanated from the sales of their products. This contributed immensely to the slow
rate of getting the company off the ground. Moreover, the partners did not monitor the
production, distribution, and sales to determine whether the firm was making a profit or a loss.
Additionally, space was a critical factor that hindered the expansion of the business, since they
were forced to work from Barb’s basement. Consequently, it attributed to the lack of
professionalism in the company. Further, the firm lacked enough labor to increase production,
forcing the two partners to hire their relatives and locals.
VERA BRADLEY CASE
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Market Research and The Level of Analysis and Planning Employed by Barb and Pat
Market research, analysis, and planning are pivotal when setting up a busin...