Intro to Business Assignment Example | Topics and Well Written Essays - 500 words

Intro to Business - Assignment Example In fact, since 2008 when there was economic recession, the company has doubled its revenue and tripled its profit. More so, the company has also recorded significant growth in the period by opening new stores. The success of Patagonia mostly lies on its environmental focus. Indeed, the company has an effective environmental friendly philosophy which mostly contributed to its success during the latest recession. The company’s environmental mission is found in the company’s mission statement which advocates for the production of high quality products with no unnecessary harm to the environment (Martà ­n 1). In fact, the company’s activities aim at solving environmental crisis. The company encourages the repair, recycling, and resale of garments where it makes fleece jackets from recycled bottles (Carus 1). Moreover, it uses solar energy in its headquarters and various stores. Subject to its longtime commitment to environmental issues, Patagonia’s reputation attracted many customers during the recession. Actually, customers were willing to buy T-shirts, wool socks, and light jackets from the company during the recession because they knew Patagonia derived less harm on the environment than other clothing manufacturers. In addition, the company’s strategy to engage in the production of outdoor goods, led to its success during the last recession. Indeed, during the recession, many Americans chose to participate in outdoor recreation instead of foreign travels. This favored Patagonia which was producing outdoor sports apparel at the time. As such, the company recorded huge revenues from outdoor sports apparel (Carus 1). At the same time, the company’s idea to introduce a new line of surf-inspired clothing and beach products also led to its success during the recession as these products became popular at the time. The company also consolidated some global factories and emphasized on online sales thus minimizing the production costs (Martà ­n 1). As such