Text: Better Business s2

Video Title: Warby Parker: Vision and Mission

Length: 6:34

Classroom Application: Instructors will find this video helpful in the discussion of corporate governance as it relates to the strategic management process. Specifically, the impact of the personal vision of the executive leadership and how it impacts the overall organization.

Synopsis

Warby Parker is an innovative new eyewear brand sold exclusively online. For every pair of glasses sold, one is donated to those in need. This video describes the development and execution of the organization’s vision and mission, as well as the role these play on daily operations.

Discussion Questions

1. What is the vision of Warby Parker?

The vision of Warby Parker is to sell quality eyeglasses exclusively online at a reduced price by eliminating the middle man mark-up. Additionally, the company aims at doing what it can to bring about social and economic change.

2. What is the organization Vision Spring and how does it relate to Warby Parker?

Vision Spring is a non-profit partner of Warby Parker. This organization works in over 10 countries distributing eyeglasses to lower income populations. They are the right arm of Warby Parker as it relates to their “buy a pair, give a pair” program.

3. Explain the “buy a pair, give a pair” program. What role does this program play in the overall mission of Warby Parker?

Warby Parker’s “buy a pair, give a pair” program means that for every pair of eyeglasses sold, one pair is given to someone who cannot afford eyeglasses. This program fits in perfectly with the organization’s overall mission to sell reduced priced eyeglasses while bringing about social and economic change.

Quiz

1. How did the founders of Warby Parker originally start this company?

a. As a group of friends while still in college

b. They both had worked for other eyewear companies and decided to go out on their own.

c. The business was inherited from family members.

d. None of the above

Answer: a

Explanation: The founders of Warby Parker started the company while still in college.

2. How does Warby Parker go about impacting social change?

a. By providing lower priced eyewear.

b. Through their “buy a pair, give a pair program.”

c. By reducing their carbon footprint.

d. All of the above.

Answer: d

Explanation: Warby Parker engages in multiple social change activities in an effort to positively impact the world.

3. Which of the following best describes the governance of Warby Parker?

a. There is no formal governance structure.

b. There is very limited formal governance structure (i.e., only managers involved).

c. There is a formal governance structure including a board of directors who make all strategic decisions.

d. None of the above

Answer: c

Explanation: Warby Parker has a formal governance structure including a board of directors. All four founders of the organization serve on the board which makes all strategic decisions to insure that the company’s mission and vision are being met.

4. Vision Spring is actually a non-profit division of Warby Parker.

a. True

b. False

Answer: b

Explanation: According to the video, Vision Spring is a non-profit partner of Warby Parker. They distribute eyeglasses to those in need in over 10 countries worldwide. They help Warby Parker in the accomplishment of their “buy a pair, give a pair” program.

5. Warby Parker’s vision is

a. socially proactive.

b. vaguely defined.

c. profit focused.

d. all of the above.

Answer: a

Explanation: Warby Parker’s vision is definitely socially proactive. Almost every aspect of the way the organization does business is geared towards making a positive, social statement and initiating social change.