Exam (elaborations)
WGU D263 Task 1
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- Institution
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04/19/2023D263 Task 1
D263 Task 1
A1
CustoMayD Designs has placed a strong importance on conscious capitalism while pursuing their business goals. One external opportunity of the organization is that they are physically close to customers. This opportunity aligns with their focus on conscious capitalism because it reduces the need for shipping products, thereby reducing the carbon footprint of the company. Another external opportunity of CustoMayD Designs is their business model of creating shoes using 3D printing in-store using recycled materials. Not only are recycled materials cheaper to source, but the focus on sustainability aligns with conscious capitalism.
A2
A threat that CustoMayD Designs faces in their organization is technology failure. Since they rely so heavily on their technology (equipment, programming, etc.), any failure would set them back from crafting shoes and obtaining revenue. To mitigate this, Maya will need to properly maintain equipment, update software, and run diagnostics on the 3D printers, computers, and software regularly. Another threat they face is other shoe sales competitors in the area. Since CustoMayD Designs is still new and most people are unaware of their organization, consumers may continue to choose the brands that they are already familiar with. To mitigate this issue, Diego can utilize his marketing skills to promote the brand and stores. Social media presence, printed materials at other small businesses in the towns’ public spaces (stores, doctor’s offices, restaurants, etc.), and gaining access to potential customers’ email addresses for email marketing campaigns would be great ways for Diego to find and target and target new customers. B
Three core values:
a)Locality
b)Affordability c)Comfort In their mission and vision statements, CustoMayD Designs places emphasis on their organization being local. They are investing in the communities by providing work for local employees, manufacturing on-site in the areas they are serving, and providing another sustainable option for customers to shop. Local manufacturing also reduces shipping and waste adhering to their mission for sustainability. When it comes to affordability, CustoMayD Designs has made it their vision and mission to provide an affordable, stylish option to customers. They have done so by producing with recycled and organic materials, which also shows the importance that they place on not only affordability, but the sustainable practices they hold close to their core.
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