... | |Strategic Management 21705 | |Summer 2014/2015 | | | | | |Individual Report on the | |Ann Taylor Case Analysis | |Survival in Speciality Retail | | | |[pic] | | | |...
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...Table of Contents Major Problems or Issues…………………………………………………………Page 2 A. Organizational Purpose, Objective, and Current Strategy…………………………..…...Page 3 ANALYSIS B. SWOT Analysis…………………..………………………………………………………Page 3 C. Competitive Analysis………………………………………………………………….…Page 5 D. Financial Analysis…..……………………………………………………………………Page 7 E. Implementation Issues/Problems………………………………………………………..Page 10 F. Evaluation/Control Procedures……………………………………………………….…Page 14 ALTERNATIVE SOLUTIONS TO PROBLEMS /ISSUES………………………………Page 15 RECOMMENDED COURSE OF ACTION/JUSTIFICATION…………………………..Page 17 IMPLEMENTATION PLAN………………………………….…………………………..Page 18 MAJOR PROBLEMS OR ISSUES Ann Taylor (NYSE ticker = ANN) was founded in 1954 based upon the corporate mantra of providing professional, yet fashion conscious, business women access to quality, yet affordable, attire. During the last fifty-four years Ann Taylor has become very well known for its offerings, especially “the classic basic black dress and women’s power suit”, and has maintained itself as a leader and innovator within the specialty retail sector. Ann Taylor’s strategic management has maintained its comparative advantage by successfully and accurately predicting client fashion preferences and meeting these preferences through three, diversified, retail divisions (AT, LOFT and FACTORY). The instigation of each division was an effort to meet the broader specialty retail challenge that accompany changing consumer demographics, buyer habits...
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...The Company’s Strategies Analysis A. Analyze Corporate-level Strategy a. The Company’s mission and goals ANN associates are committed to and driven by a simple but profound mission – to inspire and connect with our clients to put their best selves forward every day. ANN always try to respond to the customer with “wardrobing” such as a philosophy of “outfitting from head to toe”, combining relaxed everyday wear with more dressy pieces. b. Concentration on a Single Industry When Ann Taylor was founded in 1954 as a wardrobe source for busy, socially upscale women, the company has focused on retail industry till now. Ann Taylor has a 60-year history and gathers rich experience to know how to design clothing to meet the changing needs of customers, so it is wise for Ann Taylor to adapt this strategy to concentrate on doing what it knows best and avoid entering new businesses where it can just create little value. As is known to us, the competition in the retail industry is intensive and the market changes rapidly with the changes of customer needs and behavior. Concentrating on a single industry enables Ann Taylor not only to focus all its financial, marketing, and functional resources and capabilities on the company’s main business to increase its scales of economy and grab market share but also to focus on its competitive advantages to raise its long-term profits. However, Ann Taylor is a women’s specialty retailer and this kind of single-product focus increases risk....
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...7 Planning Materiality C a s es inc lu de d in t his Se ction 7.1 Anne Aylor, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 229 Determination of Planning Materiality and Tolerable Misstatement O t he r c ase s t h at discuss topics rel ated to this section 5.6 Sarbox Scooter, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 185 Scoping and Evaluation Judgments in the Audit of Internal Control over Financial Reporting 12.1 EyeMax Corporation . . . Evaluation of Audit Differences . . . . . . . . . . . . . . . . . . . . . . . 369 12.2 Auto Parts, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 379 Considering Materiality When Evaluating Accounting Policies and Footnote Disclosures Instructor Resource Manual — Do Not Copy or Redistribute Instructor Resource Manual — Do Not Copy or Redistribute Anne Aylor, Inc. C a s e 7.1 Determination of Planning Materiality and Tolerable Misstatement Mark S. Beasley · Frank A. Buckless · Steven M. Glover · Douglas F. Prawitt Ins tr uc t ional O b je c t ive s [1] To provide experience with establishing planning materiality. [2] To provide experience with establishing tolerable misstatement for individual financial statement accounts. [3] To illustrate factors considered when establishing planning materiality...
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...Competencies External Audit a. External Forces b. Customer Trends c. Porters Five Forces d. Competition SWOT Analysis Size ANNspansion Ann Goes Technical Financials a. Sales Forecast b. Net Income c. Inventory Turnover 3 Final Report I. Executive Summary Ann Taylor was founded in 1954, when Richard Liebeskind opened his first shop called Ann Taylor. Back then Ann Taylor represented a best- selling dress style that had been gifted to the store owner by his father. The company began its story in the retail industry by opening up stores in which their designs embodied the well-dressed woman. By 1983 Ann Taylor had grown from a regional brand to a national brand with 47 stores across the United States. Today Ann is represented by two brands, with multiple channels of distribution. They operate 907 Ann Taylor, Ann Taylor Factory, LOFT and LOFT Outlet stores in 46 states along with e-commerce websites anntaylor.com and LOFT.com. They rely on a large base of third-party producers and distributors. Ann Taylor is now a one-stop shop for high quality and fashion-forward women’s apparel, accessories, and footwear. Though Ann Inc. has a strong brand recognition in the women’s retail industry, it faces threats that they must overcome in order to continue their success. Ann Inc. competitors are companies such as Talbots and Coldwater Creek as well as smaller high end women’s stores. Ann Taylor has the opportunity to take advantage of the recent increase in women’s weight. This is something...
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...Ralph Lauren Shelby Gray Group #2 BUS 440.02 11:30 0 COMPANY OVERVIEW Polo Ralph Lauren is a company specializing in the production of lifestyle products. Ralph Lauren began forty years ago with simply a collection of ties and now has grown into an entire culture that has redefined American Style. Ralph Lauren stands for providing quality products and inviting people to take part in their dream. Ralph Lauren was the innovator of lifestyle advertisements and the first fashion company to create stores to invite customers to participate in that lifestyle. HISTORY 1 RALPH LAUREN SWOT ANALYSIS Table 1 Ralph Lauren EFE Matrix Weight Rating Weighted Score OPPORTUNITIES -‐Boost internet sales 0.20 3 0.6 -‐Development of private labels within department stores -‐Development of philanthropic campaigns THREATS 0.16 3 0.48 0.13 2 0.26 -‐Fluctuating exchange rates 0.18 3 0.54 -‐Huge competition within target market -‐Dependence on licenses 0.13 2 0.26 ...
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...Journal Volume 5, Issue 2 (Spring 2009) Ann Taylor: Survival in Specialty Retail Pauline Assenza Manhattanville College Alan B. Eisner Lubin School of Business, Pace University Jerome C. Kuperman Minnesota State University Moorhead In the summer of 2008, headlines announced that the declining economy was generating a “wave of retail closures” among many well-known companies, including Home Depot, Pier 1 Imports, Zales, Gap, Talbots, Lane Bryant, and Ann Taylor. The Chief Executive of J.C. Penney’s called the 2008 situation “the most unpredictable environment in his 39-year retail career”. i One industry group forecasted that nearly 6,000 retail stores would close in 2008, a 25 percent increase from the previous year. A representative from the National Retail Federation (NRF) suggested that these businesses should “look at where they’re underperforming and how can they change their operations so that they have a little bit more power in another area, or a little bit more growth potential.” ii Kay Krill, President and CEO of Ann Taylor Stores Corporation (ANN), was already considering this advice. Krill had been appointed President of ANN in late 2004, and succeeded to President/CEO in late 2005 when J. Patrick Spainhour retired after eight years as CEO. At that time, there had been concern among commentators and customers that the Ann Taylor look was getting “stodgy”, and the question was how to “reestablish Ann Taylor as the preeminent brand for beautiful...
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...Apple Inc. Review MGT/521 Management Week Five Individual Assignment Apple Inc. has been noted as one of the most positive growing companies in the technology field today. The question is, How do we know this and how do we measure this? The answer is through three major financial business statements; The Income Statement, Balance Sheet, and Cash Flow Statement. All of these statements may seem to be redundant in what they portray but all of them are necessary in bringing to light the actual financial standing of any company. These statements are how a financial analyst can put together an honest analysis of the how the company is doing financially. Statements: The Income Statement for any company is a statement that shows the year-to-date profits and losses. In today’s world of the internet, it can be pulled as frequently as daily, weekly, monthly, quarterly, or just yearly. The balance sheet for a company gives a snapshot of the financial condition at any given moment but is usually generated at the end of an accounting time period (often at the end of the month or quarter). This sheet shows the assets, liabilities, and equity of the company to give a rounded idea of how the company is doing financially. A balance sheet is much like balancing a personal checkbook in that it is a way to log everything to do with the company including detailed costs and profits. The Cash Flow statement is another statement used to measure the amount...
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...2/5/2012 ECONOMIC NEXUS IN WASHINGTON STATE: DEFINING SUBSTANTIAL NEXUS Armikka R. Bryant* I. INTRODUCTION This Article explores the evolving framework of nexus and examines the constitutional constraints imposed on states’ tax jurisdiction and how states overcome those limitations. In 2010, the Washington State Legislature declared that out-of-state businesses with no physical presence in Washington were earning significant income from Washington residents by providing services or collecting royalties on the use of intangible property in the state.1 The Legislature also determined that, although these out-of-state businesses did not have a physical presence in the state and were not paying their fair share of Washington State taxes, they were nonetheless receiving the following significant benefits provided by the state: • Laws providing protection of business interests or regulating consumer credit; • Access to courts and judicial process to enforce business rights, including debt collection and intellectual property rights; • An orderly and regulated marketplace; and • Police and fire protection and a transportation system benefiting in-state agents and other representatives of out-of-state businesses.2 * Armikka R. Bryant, Tax Policy Counsel, Washington State Department of Revenue; J.D., 2001, The University of Iowa; LL.M. (Taxation), 2004, The University of Washington; B.A., 1997, The University of Michigan; member of Washington State Bar. I would...
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...Bayarcal Group Leader Group Members: Mardoque Abarca John James Noble Rumulo R. Perez Brylle Ian S. Cardama Maria Fatima B. Estrosas Maria Luisa Lagnason Pamela C. Tampus Deniece Ann Saz Luzviminda P. Rabia Executive Summary: One of the popular and successful “Dresses, Jeans and Fabrics Company” in the country is the “Catalasa-Peesnora & Abba Company Incorporation” localized established in Baybay City, Leyte. Even though the company is more advanced than other companies, in the countries still seek with more lead at all. As labor and selling of unique product company which produces and sell unique products. Except for innovative design, the products are designed and sold just dirt. The Catalasa – Peesnora & Abba Company Incorporated is producing innovative products and has recently made cloth specifically scrap cloths useful The “BNC- Petrals body sling bag cloth” the brand name of the product which can be any ages; especially women here did. Particularly in the female students, which made in different colors and print fabrics moreover the bag is designed with two sizes, large and small. This might unique easy to use and simple design that any female students can buy for cheap price. Company Description: Catalasa – Peesnora & Abba Company Inc. was successfully and legally established on June 12, 2009 in the City of Baybay, Leyte. The company name itself, actually came from the initials of the names of each member of the organization...
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... SwitzerlandMichigan National Quality Research Center 701 Tappan Street, 48103 Ann Arbor, MI, USA Phone: +1-734-709-1036 tpock@bus.umich.edu Prof. Fritz Fahrni University of St. Gallen Director of the Institute for Technology Management Dufourstrasse 40a, 9000 St. Gallen, Switzerland Phone: +41-71-224-7201 fritz.fahrni@unisg.ch Prof. Anders Westlund Stockholm School of Economics, Director of the Center for Economic Statistics and Decision Support 65 Sveavaegan, 11383 Stockholm, Sweden Phone: +46-8-736-9231 anders.westlund@hhs.se Prof. Fritz Fahrni University of St. Gallen, Director of the Institute for Technology Management Dufourstrasse 40a, 9000 St. Gallen, Switzerland Phone: +41-71-224-7201 fritz.fahrni@unisg.ch Thomas Pock Research Scholar, Ross School of Business, University of Michigan National Quality Research Center 701 Tappan Street, 48103 Ann Arbor, MI, USA Phone: +1-734-709-1036 tpock@bus.umich.edu rewrite abstract according to instructions Abstract Purpose – The paper provides a well-founded analysis of situation specific drivers and limitations to quality targets and the complexity of Management Control Systems. Design/methodology/approach – The paper builds on prior case study results and uses a descriptive quantitative approach based on financial data from Stern Stewart Co. and data on customer satisfaction from the American Customer...
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...Ann Taylor Stores Corporation International Management Project Management 4900 – International Management and Globalization Executive Summary As an opportunity to apply concepts of international management, the following analysis evaluates issues and provides recommendations for the Ann Taylor Corporation. The retail apparel industry as a whole has rapid business cycles because fashion and consumer tastes changing constantly. The already fiercely competition for market share is amplified by the declining economy. Like many apparel companies, Ann Taylor creates the designs and outsources the manufacturing process. Ann Taylor sells women’s apparel and accessories and targets affluent career-minded women. One of the company’s strengths is brand equity. Every aspect of the Ann Taylor brand supports corporate social responsibility. Any association with a supplier or manufacturer that doesn’t support CSR and environmental sustainability will tarnish the Ann Taylor brand and risk losing brand loyal customers. With dependency on over 150 suppliers around the globe, communication and culture awareness is required of all Ann Taylor management. Lack of culture understanding will put business partnerships at risk. Although Ann Taylor doesn’t have ownership rights in China, understanding what drives and motivates Chinese workers will help Ann Taylor management collaborating more effectively with the managers of the outsourced manufacturing located in China. The need for strategic...
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...George T. Neale ACC 350 – Assignment 1 Professor Wencel May 28, 2013 The purpose of my research paper focuses on the features of the Nike, Inc. Nike is a company that has thoroughly embedded itself into the psyche of people around the world. It's a company that started with humble origins from selling footwear in the basement to becoming the behemoth in the athletic industry. Bill Bowerman, University of Oregon track & field coach, and Phil Knight, middle-distance runner under Bowerman co-founded Nike. Nike was first established as Blue Ribbon Sports in 1964 as a partnership and the name Nike was officially adopted on May 30, 1978. The infamous Nike Logo - Swoosh, was created for a fee of $35 by Carolyn Davidson, a graphics design student. In 1980, Nike became a publicly traded company with the completion of its Initial Public Offering of 2,377,000 shares of Class B Common Stock on New York Stock Exchange with the stock symbol NKE. Today, Nike employs over 38,000 people across the globe, and has net revenue in excess of $21 billion (Nike, Inc., 2011). Nike is a consumer products company, the relative popularity of various sports and fitness activities and changing design trends affect the demand for our products. Nike must therefore respond to trends and shifts in consumer preferences by adjusting the mix of existing product offerings, developing new products, styles and categories, and influencing sports and fitness preferences through aggressive marketing. Failure...
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...An Analysis of Current Whistleblower Laws: Defending a More Flexible Approach to Reporting Requirements Gerard Sinzdak' INTRODUCTION Sherron Watkins is regarded as a hero for her decision to blow the whistle on the illegal activities of her employer Enron.' Had Enron survived the resulting scandal, however, the company could have fired or otherwise retaliated against Watkins with legal impunity.'^ Under Texas's whistleblower law, employees of private employers receive legal protection against retaliation only if they report wrongdoing to an external law enforcement agency. Because Watkins reported her concerns only to Enron CEO Kenneth Lay, her actions did not meet Texas's strict report recipient requirement.' The Texas whistleblower law is not unique. Most state whistleblower statutes restrict the parties to whom a whistleblower may report in order to receive protection from retaliation.^ The majority of states, for example, protect only those employees' who file reports with external govemment bodies. In Copyright © 2008 Califomia Law Review, Inc. Califomia Law Review, Inc. (CLR) is a Califomia nonprofit corporation. CLR and the authors are solely responsible for the content of their publications. t J.D., University of Califomia, Berkeley School of Law (Boalt Hall), 2008. I would like to thank Professor Gillian Lester for her guidance and assistance with this Comment. 1. Richard Lacayo & Amanda Ripley, Persons of the Year, TIME, Dec. 30, 2002, at 30. 2...
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...Aeropostale Inc. Company Analysis: Overview, History and Current Structure Davenport University Aeropostale Inc. Company Analysis: Overview, History and Current Structure Aeropostale Incorporated is a “mall-based” retail store chain that caters to 14 to 17 year old young women and men who are interested in “casual apparel and accessories (Aeropostale Inc. Corporate, n.d.). According to Aeropostale website, a Privacy Policy with Canada, states that Aeropostale Inc. has a subsidiary called “P.S. from Aeropostale” that caters to the 7-12 year olds (Aeropostale Inc., 2012, April). Mergent Online disclosed that Aeropostale Inc. “sells a range of apparel, including graphic t-shirts, tops, bottoms, sweaters, jeans, outerwear and accessories” (Mergent, 2012). Mergent’s Online Business Summary of Aeropostale Inc., reports that, “as of Jan 29 2011, [Aeropostale Inc.] Co. operated 965 Aeropostale stores, consisting of 906 stores in 49 states and Puerto Rico, 59 stores in Canada, as well as 47 P.S. from Aeropostale stores in 13 states (Mergent, 2012). Aeropostale was started for Macy’s department store under a private label in 1982 (Shop Aeropostale, n.d.). The name Aeropostale, according to Aeropostale corporate website, dates back to the 1920’s: “Compagnie Generale Aéropostale, a pioneer airmail company, was the first ever to fly between France, South Africa, and South America”, this is who the beginning...
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