Individual assignment 2

Course: Business management

Case study: Rebecca Ray Designs Has It in the Bag

Full name: Ta Duy Anh

ID: 11200361

Class: ICAEW – CFAB – AUDIT

Rebecca Ray Designs, a world-renowned brand of accessories, inspired

by the elite equestrian style. Every handbag, accessory, and home accent
are handcrafted to last a lifetime, using only the best materials and
techniques. It was founded by Rebecca Yuhasz Smith in Chagrin Falls,
Ohio, in 1998. Since childhood, she has been riding her pony and raising
English Setter. These unique experiences were the inspiration behind
Rebecca Ray Designs. During the dot-com boom, she and her husband
moved to California. In there, she started creating unique bags. She
worked with Amish to establish a global brand after relocating to
Chagrin Falls, Ohio. In addition to White Magnolia and Chagrin
Saddlery, the wholesaler and retailer also sells equestrian products to
nearly 400 resorts and high-end boutiques around the world. Rebecca
Ray's gift bags were used for VIP guests at the Kentucky Derby.
Rebecca had to prepare the organization's goals, managing multiple job
functions, direct others to make and sell goods, and control activities
necessary to attain objectives as both a manager and a founder. So how
did she do, what management skills did Rebecca use, how did she use
the four functions of management and what types of decisions did she
need to turn Rebecca Ray Designs into a successful high-fashion
business?
To use resources effectively and efficiently in a changing environment,
the manager must have certain skills. The first skill is technical skill. It's
the knowledge and skills needed to complete particular digital or
physical tasks. They are essential to the success of a company and the
satisfaction of its employees. They are essential to the success of a
company and the satisfaction of its employees. Rebecca's technical skills
as a first-line manager were needed earlier in her career. She also
gathered a collection of sporting art, including sporting dogs and
equestrian art. She then hand-sewed vintage sporting icons onto the
bags, one of which featured an English Setter, and topped them with an
antique brooch. She still had technical skills later, when the company
was well-known, but they were less essential. She must oversee a variety
of tasks, like finance, clients, and not just goods, and she cannot be a
specialist in all of them. The second skill is a conceptual skill. A
manager with conceptual skills can see the organization as a whole,
consider how the different pieces are connected, and evaluate how the
organization interacts with its surroundings. These abilities allow
managers to assess circumstances and devise alternate strategies. This
skill is linked to the ability to think creatively, and it is the key driver
behind the invention of many new products and ideas. The next skill
Rebecca needed is analytical skills. It is the ability to consider and
recognize the value of related problems, as well as the relationships
between them and the root reasons of a case. She had access to a lot of
data as a top manager, which required an in-depth analysis of the
organization and the area she was exploring. This skill will support her
in coming up with the most practical way to solve any difficulties that
the business can face. Human relation skill is also essential for Rebecca.
Communication as well as the relationship between management and
employees is a factor that directly affects the company's operations. She
was trying to find Amish partners because of their reputation as harness
designers, and she believed they could produce her designs to the high
standards she desired. She met Mary Ann by chance; the contractor's
wife is an Amish woman who enjoys sewing. Rebecca and Mary Ann
started working together to create what would become some of her most
famous items. Her children had grown up with Amish children, and she
lived in an Amish house, and shared meals with them. She valued the
Amish culture and traditions they carried with them. A leadership ability
is the last and most important skill. Leadership is described as the ability
to inspire others to work toward a common purpose. Rebecca is the one
who gets things started. No goals can be accomplished before the work
is started. Motivation, which comes from leadership, is necessary for the
work to be done on time and to a high standard. Employees will
sometimes need assistance; this is where Rebecca will demonstrate her
abilities by offering helpful advice, demonstrating how to formulate
ideas or produce an illustration in the bags. Confidence is often
underestimated, but it is important for her because she would not be able
to build an equestrian accessory brand without it. Employees would be
more likely to comply with their tasks if their morale is boosted.
Development can be promoted by a productive and friendly work
environment. That is why Rebecca's leadership abilities are so essential.
The four functions of management are planning, organizing, directing,
and controlling. How does Rebecca use these to operate her business?
The first function is planning, which is similar to drawing a road map for
following functions. Rebecca wanted to find out what her aim is and
where her brand is going in order to come up with a strategy. Her
company creates high-end accessories based on her experience in sports.
Customers who attended equestrian and dog shows around the country
were her target market. She believes that the brand's roots are in sports,
and that all of the products have something unique to admire. And it's
important to remain true to that aspect of their personality. The Amish
make the majority of Rebecca Ray Designs' products by hand, on foot-
powered treadle sewing machines and with non-electric equipment like
flame-heated irons. Even when Yuhasz Smith wanted to branch out into
leather goods, 90% of Rebecca Ray leathers are sourced in the United
States, using environmentally sustainable tanning techniques. This is one
of Rebecca Ray's core competencies, as well as a competitive advantage,
since using high-quality products and handcrafting increases the
product's cost. Rebecca Ray Designs made all of their accessories out of
natural materials and did not use any animal-derived materials. The
manufacturing process is entirely manual and does not rely on
electricity. Rebecca's goal is to extend the brand beyond the equestrian
community's niche and continue to build distinct values while retaining
the sport's style. The organizing feature comes next. The process of
arranging resources and activities in order to accomplish a purpose is
known as organizing. Managers plan by reviewing schedules and
deciding what needs to be done, then splitting the job into small units
and assigning it to individual people, classes, or divisions. Rebecca had
to categorize the authority, define the activities, and departmentally
organize the activities to each unit. As a result, every phase of the
production was able to run smoothly and deliver one-of-a-kind
accessories. The third function of management is direction, which
involves inspiring and leading workers toward organizational goals.
Rebecca displayed this skill by instructing workers about what they
should do and when they should do it. She also gave enticements such as
the possibility of a raise or promotion. She also appreciated the
employees' suggestions and feedback, and she gave young employees
the authority to make decisions as soon as possible. The final function is
controlling, which requires reviewing and correcting actions to keep the
company on track. Rebecca's responsibilities include measuring results,
comparing current performance to expectations, and taking corrective
action as needed. Controlling and planning are related because
productivity is established when performance is consistent. If not,
Rebecca must figure out why and take the necessary steps to get the
company back on track.
Making decisions is part of the manager’s tasks. Making a decision is
not easy because it has a direct impact on the business's growth. Rebecca
used three different forms of decision-making to expand her business.
The first one is strategic decisions. They are used for a long period of
about 1 year or more. Rebecca needed to plan to add products, find more
sales representatives, expand market range. Because of the importance
and permanence of the decisions, it required Rebecca to consider the
company's resources, the rapidly changing business environment, the
needs of customers, and the laws of the business. Tactical decisions are
used for 1 year or less, and are less complicated than strategic decisions.
They are designed to implement the activities and objectives specified in
the strategic plan and help the firm on the track. Rebecca had agreed to
market its products through a company's own website, as well as several
follow-up plans including premium content marketing to site users. The
last type are operational decisions show what to do in a very short time
and is specified. These are usually decisions for lower-level employees
to keep company on track.
From the small start of her company, which began in a basement
workshop, to the creation of a global equestrian brand. She had
partnered with a number of venues, including the annual Landover
Kentucky Three Day Celebration, Keeneland Race Track, Saratoga, and
others, to produce custom artwork items. Her products have been named
to Oprah Magazine's "Best of American Made Products List" not once,
but twice. Turning a small brand into a global brand involves the
expertise of an outstanding manager who can make the best business
decisions.
Cites references
1. O. C. Ferrell, Geoffrey Hirt, Linda Ferrell (March 29, 2019), Business
Foundations: A Changing World, McGraw-Hill Education, U.S.
2. Editorial Staff (November 25, 2018), HOW REBECCA RAY
DESIGNS CHANGED THE FACE OF EQUESTRIAN STYLE WITH
A LITTLE HELP FROM THE AMISH, retrieved on March 27 2021,
from < https://horsenetwork.com/2018/11/past-present-double-life-
rebecca-ray/>
3. The Story of Rebecca Ray Designs (March 8, 2019), retrieved on
March 26 2021, from < https://rebeccaraydesign.com/rebeccas-story>