...Ann Taylor’s main challenge is to remain relevant in a market where fads and new options are constantly threatening to steal market share away from them. High-end and low-end brands such as Gucci and TJ Maxx respectively are offering specialized goods to cost aware consumers. To position themselves effectively, Ann Taylor must remain true to their original image as an upscale retailer of professional lades while still offering clothing at a price that consumers are willing to pay. One possible alternative for Ann Taylor is to continue what they are doing as an integration approach leader. Since consumers could buy cheaper alternatives at bargain outlets, the integration strategy allows Ann Taylor to loosely compete in price while keeping a strong focus on high quality products. They can continue to invest in developing their Loft and Factory Brands in outlet settings to appeal to as broad a base as possible. This is a great alternative to their problem because they can offer their various brands to as many people as possible while still competing on price because they can offer quality clothing at a lower cost. One downside to this approach is the threat of more affordable substitutes. Another possible alternative for Ann Taylor would be to adopt more of a focused strategy approach. They already excel at offering numerous fashion solutions for nearly ever lifestyle. With this approach, I suggest that they eliminate their low cost brands, raise prices and offer a more...
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...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 and apparel expectations associated with the professional environment, while also maintaining brand longevity and product differentiation. Nevertheless, efforts to meet changing consumer preferences have resulted in the potential issue of minimizing Ann Taylor’s signature brand (AT Division) and cannibalization from other company offerings, especially from the more casual focused LOFT...
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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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...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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...Established in 1956 by Robert Liebeskind, Ann Taylor, an upscale woman’s clothier began operation in New Harford Connecticut. Ann Taylor was established to cater to working women who wanted style and class to be their trademark. Ann Taylor or ANN is in the retail clothing industry. According to the ANN website, their purpose is to, “inspire and connect with women who put their best selves’ forward each day.” (Ann Taylor) Kay Krill, CEO of Ann Taylor states on their website that, “At ANN Inc. we share a profound commitment to our clients. For more than half a century, we have evolved with the needs of real women, who live full active lives. Our values are her values. We understand that a woman expresses herself by what she wears- at work, at home and at play.” (Ann Taylor) Ann Taylor has grown to encompass the markets of both work and leisure clothing for a discerning customer. Porter’s Five Forces, states that there are five issues that affect the strength and viability of a business, the model developed by Michael Porter, identifies and analyzes five competitive forces that shape every industry, and helps determine an industry's weaknesses and strengths. The five forces are: 1. Competition in the industry 2. Potential of new entrants into industry 3. Power of suppliers 4. Power of customers 5. Threat of substitute products The key issues in the competitive environment that affect ANN and its rivals are the threat of substitute products. The retail clothing industry...
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...sales “as traditional Ann Taylor shoppers sought more relaxed, lower-priced merchandise, particularly during the recession.” Ann Taylor would be 59 years old in 2013 and needed to make sure it wouldn’t become a victim of a midlife crisis.3 Kay Krill, ANN’s CEO, had been reflecting on these issues for some time. Krill had been appointed president of Ann Taylor Stores Corporation (ANN) in late 2004, and she succeeded to president/CEO in late 2005 when J. Patrick Spainhour retired after eight years as CEO. Even back then, there was 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, elegant, and sophisticated occasion dressing.”4 Krill’s challenge was based on the ANN legacy as a women’s specialty clothing retailer. Since 1954, Ann Taylor had been the wardrobe source for busy, socially upscale women, and the classic basic black dress and woman’s power suit with pearls were Ann Taylor staples. The Ann Taylor client base consisted of fashion-conscious women from age 25 to 55. The overall Ann Taylor concept was designed to appeal to professional women who had limited time to shop and who were attracted to Ann Taylor stores by their total wardrobing strategy, personalized client service, efficient store layouts, and continual flow of new merchandise. ANN had two branded divisions focused on different segments of this customer base: • Ann Taylor (AT), the company’s...
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... | |Strategic Management 21705 | |Summer 2014/2015 | | | | | |Individual Report on the | |Ann Taylor Case Analysis | |Survival in Speciality Retail | | | |[pic] | | | |...
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... 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. By realizing this problem, Ann Taylor has expanded its product catalog and...
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...Ann Taylor (based on an earlier version of the case) 1. Consider the performance of A nn Taylor. How well is the present strategy working? Ann Taylor compared to the industry: I n fiscal year 2005, Ann Taylor was number six in the Women’s Wear Daily’s top twenty of the publicly traded retailers specializing in women 's wear. ANN maintained this position from the previou s fiscal year 2004. Ann Taylor compared to key rivals: Several retailers that target the same or similar demographic of the 35-year old woman include Talbots, Chico's, and Coldwater Creek. Talbots maintained its number seven position with $1.81 billion in sales, and a seven percent increase in volume over the previou s year. Coldwater Creek also maintained its number 18 position with $780 million in sales and a staggering 32 percent increase in volume. Chico's moved up three positions from number nine to 12, also with a 32 percent increase in volume, and $1.4 billion in sales. ANN saw a 12 percent increase in volume over the previou s year and had sales of $2.07 billion. ANN is maintaining its position in the standings, but with a 32 percent growth rate, Chico's may be an even greater threat to ANN in the years to come. Ann Taylor's past performance: Ann Taylor has seen some up years and some down years, but overall seems to be growing each year. In fiscal year 2002, the company as a whole (Ann Taylor and LOFT) experienced a negative sales percentage of 3.9%, but in 2003, they achieved...
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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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...internet has revolutionized life styles in recent years. Generally, the internet popularization over the world facilitates academic research, communication and entertainment. Nevertheless, problems exist in various aspects, such as misuse of the Internet, Internet addiction and information security, which includes individual privacy, business secrets and national information. According to the data provided by The World Bank (2011), 83.2% people have access to the Internet in the United Kingdom until 2009, but there was almost nobody surfing the Internet 20 years ago. Although increasing number of consumers are using the high technology, individual privacy and business secrets are exposed to potential risks. This essay aims to analyse the consequences of the problem and propose possible methods. Firstly, the essay will describe the major problems currently. Then discuss executable measures to address the problem. Finally, it will provide evaluation and conclusion. Problems: Internet information security is a new concept which for the purpose of protecting personal, commercial or national information on the internet, and guaranteeing privacy and business secrets not being destroyed or leaked out. Online privacy contains private information unconsciously disclosure, damaged fame because of libel or gossip, individual data used by strangers, hacking and identity pilferage (Boyd and Ellison, 2008, in Debatin, Lovejoy, 2009). For example, most adolescents addict to Facebook in recent...
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...Sign In | Sign Up StudyMode - Premium and Free Essays, Term Papers & Book Notes Essays Book Notes AP Notes Citation Generator More Case Analysis Of Ann Taylor Survival In Specialty Retail Essays and Term Papers Search Advanced Search Documents 1 - 20 of 1000 Book Review of Business Policy and Strategy: an Action Guide Book Review of Business Policy and Strategy: An Action Guide Submitted in partial fulfillment of B.S. in Business Administration Century University, New Mexico Grade = 95% {A} Business Policy and Strategy: An Action Guide, by Robert Murdick, R. Carl Moor and Richar Premium 4514 Words 19 Pages Burger King and Its Advertising Campaigns Burger King and Its Advertising Campaigns Burger King is a reliable burger company which has had its ups and downs. In 1974, it came out with a slogan of "Have it your way" and at this time it also had a 4 % market share. Burger King's idea was to have the customer have their burger done their w Premium 1694 Words 7 Pages Foreign Aid Foreign Aid There are two words that many politicians like to shy away , and those two words are, "foreign aid." Taking a firm stand on either side of this topic is usually side stepped by decision makers. Their opinions are usually based on a case by case analysis. This extremely controv Premium 1773 Words 8 Pages Rainforest Cafe, Inc: Outline to Rainforest Cafe Research Report...
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...ENG 1213.W1 11 October 2012 Youth Violence Ninety percent of children ages 8 to 16 play video games, some spend up to 13 hours a week doing so (Harding). Most of the video games out now include some form of violence. This is a very controversial issue. Some people of the older or “Baby Boomers” generation would blame this on the parents of those children. These violent video games and movies can cause children to desensitize the violence and also cause aggression, but violent video games do not cause violent behavior. Debates about video game violence and player aggression are likely to continue for some time. “…As video games have become more widespread over the past few decades, the incidence rate of criminal youth violence has declined…” (Ferguson 390) In order to keep from behavior becoming an issue with children, parents have to step up and teach them right from wrong and what is good and what is bad. If a television show is on that is provoking violence, then someone needs to point out to the child that it is wrong to fight, curse, etc. Most children learn from experience. As long as they are told what is acceptable from what is not they should have standard morals to know what to do when the parent is not around. It is the parents’ job to be the ones to teach their children the ethics and principles that they want them to follow. When Rihanna’s music video for “Man Down” was released, it sparked a whole new controversy. In her video she shoots the man who raped...
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...Question: (i.) Critically evaluate the classical theory of organization and management in the light of contemporary business environmental changes facing managers in Nigeria (ii.) How did the neoclassical and contingency theories improve on the imperations of the classical approach? (i.) Critically evaluate the classical theory of organization and management in the light of contemporary business environmental changes facing managers in Nigeria Classical organization theories (Taylor, 1947; Weber, 1947; Fayol, 1949) deal with the formal organization and concepts to increase management efficiency. Taylor presented scientific management concepts, Weber gave the bureaucratic approach, and Fayol developed the administrative theory of the organization. They all contributed significantly to the development of classical organization theory. Taylor's scientific management approach The scientific management approach developed by Taylor is based on the concept of planning of work to achieve efficiency, standardization, specialization and simplification. Acknowledging that the approach to increased productivity was through mutual trust between management and workers, Taylor suggested that, to increase this level of trust, • the advantages of productivity improvement should go to workers, • physical stress and anxiety should be eliminated as ...
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...Task 2 1. Understanding motor controls / Stephen L. Herman. Category of works | Main Entry & Heading | Added Entry & Heading | Rules | Works of single personal authorship | Herman, Stephen L. | i. Title. | Entry: 21.4Heading: | 2. An introduction to equity derivatives: theory and practice / Saebastien Bossu & Philippe Henrotte Category of works | Main Entry & Heading | Added Entry & Heading | Rules | Shared responsibility with two person | Bossu, Saebastien. | i. Henrotte, Philippe. ii. Title. | Entry: 21.6BHeading: 22.5 | 3. Strategic marketing / Todd A. Mooradian, Kurt Matzler, Lawrence Kick Category of works | Main Entry & Heading | Added Entry & Heading | Rules | Shared responsibility with three person | Mooradian, Todd A. | i. Matzler, Kurt. ii. Kick Lawrence. iii. Title. | Entry: 21.30AHeading:21.6 | 4. Management the essentials / Stephen Robbins, Steve Mariotti, Caroline Glackin. And Naresh K. Roshan Category of works | Main Entry & Heading | Added Entry & Heading | Rules | Shared responsibility with four person | Robbins, Stephen. | i. Mariotti, Steve. ii. Glackin, Caroline. iii. Roshan, Naresh K. iv. Title. | Entry:21.6C2Heading: | 5. Advertising & IMC: principles & practice / Sandra Moriarty and Nancy Mitchell; edited by William Wells Category of works | Main Entry & Heading | Added Entry & Heading | Rules | Mixed responsibility | Mariarty, Sandra. | i. Mitchell...
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