TOMS Strategic Control and Corporate Governance ( Chapter 9)

Our text points out that control systems provide the necessary information for firms to coordinate action and respond to environmental changes and feedback. TOMS strategic control system involves connecting close with the community, delivering products and services that relate to its social cause, diversifies its product lines and social commitments to stay relevant, and takes interactions with customers seriously. All of this helps the company be proficient in creating brand loyalist and enhancing the customer experience.

The key participants in TOMS corporate governance include its founder and CEO. Toms Shoe Company does not have a functional board of directors. The main stakeholders of the TOMS are their employees, customers, suppliers & vendors, investors, and its partners. The company was taken over by its creditors: Jefferies Financial Group Inc, Nexus Capital Management LP, and Brookfield Asset Management Inc in December 2019.