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Introduction The Vermont Teddy Bear Company VTBC was founded in 1981 by John Sorinto Unfortunately for John the company became to big for him to oversee since he was an entrepreneur However he gracefully stepped down in 1995 and supported the hiring of a new CEO that would lead the company into its future success Vincelette p 27-3 One thing that has remained is the companies focus The Vermont Teddy Bears focus has been to design manufacture and direct market the best teddy bears made in America using quality American materials and labor p 27-1 In fact American made with American materials is the basis of the companys mission statement In the year following the change of CEO VTBC tried changing its name to The Great American Teddy Bear Company However this tactic failed when customers grew confused As a result the Vermont Teddy Bear Company name was reinstated Again trying to reinvent themselves the company decided to change their current distribution method in 1996 The decision they made was to shift away from the companys signature Bear - Grams which was very successful but not creating growth In its place they wanted to go into retail stores and expand their catalog Vincelette p 27-3 This too proved to be less than a success and eventually Bear-Grams were once again their focal means of distribution and strategic marketing Finally in 1997 Chief Executive Officer R Patrick Burns stepped down and Elisabeth Roberts Chief Financial Officer became the new President and CEO Roberts vision for the future of the company included cutting cost Vincelette p 27-4 Forced to look at their materials from a purely financial view something had to be done The answer Roberts sought was offshore sourcing of materials outfits and manufacturing p 27-4 Thus Vermont Bear Labels now read Made in America of domestic and foreign materials p 27-6 Elisabeth Roberts also believed that Vermont Teddy Bear was not simply
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