...Mission and Vision Statement of J.C. Penney Brooke Hall BMGT 495 Strategic Management Professor Swindell November 1, 2013 Table of Contents Introduction 3 Mission Statement 3 Vision Statement 4 JCP’s Strengths 5 JCP’s Challenges 5 Future Goals and Objectives 6 Recommendations 7 References: 8 Introduction Founded in 1902, by James Cash Penney in Kemmerer, Wyoming, JCP has witnessed dramatic changes and overhauls with the arrival of each CEO. Beginning in 2013, JCP again started fresh with the rehiring of retired CEO Myron Ullman who has taken revolutionary steps to improve the company’s performance and pricing structure (Berfield, 2013). Under the leadership of Ullman, JCP is working to rid itself of its former image of inadequate products, at least one price promotion per day, and high employee turnover, and instead focusing on fair pricing for all, interest based marketing, and spotlighting their exclusive brands in comparison to their competitors. Mission Statement According to Daft (2011), having a clear mission and vision for the future as well as a strategy for implementation are key components of accomplishing any goals within an organization. JCP’s mission is simple and straight to the point, “To drive Sales and Profit growth by ensuring our Customer and Associates always know they’re first in our Stores by what We do!” (JCPJline, 2011). As noted in our text, a mission statement serves as both a description of a company’s purpose, while simultaneously...
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...J.C. Penny Corporation, Inc. Company Analysis and Prognosis Tasha Liberman CASE STUDY BACKGROUNDER #2 MGMT 498 nd July 22 , 2013 Table of Contents Introduction .............................................................................................................................. 1 Company & Industry Background...................................................................................... 1 Company Strategies ............................................................................................................ 1-2 Current Financial Performance.......................................................................................... 2 Financial Performance Compare to Sub-Sector ........................................................ 2-3 Primary Macro-Level Forces ............................................................................................... 3 Micro-Level Forces.................................................................................................................. 4 Primary Strengths and Weaknesses ................................................................................. 4 Risk and Rewards Potential................................................................................
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...Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) x|ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| For the fiscal year ended January 29, 2011 or ¨|TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934| For the transition period from to Commission file number 001-15274 J. C. PENNEY COMPANY, INC. (Exact name of registrant as specified in its charter) | | | Delaware| |26-0037077| (State or other jurisdiction ofincorporation or organization)| |(I.R.S. EmployerIdentification No.)| 6501 Legacy Drive, Plano, Texas 75024-3698 (Address of principal executive offices) (Zip Code) (972) 431-1000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: | | | Title of each class| |Name of each exchange on which registered| Common Stock of 50 cents par value| |New York Stock Exchange| Preferred Stock Purchase Rights| |New York Stock Exchange| Securities registered pursuant to section 12(g) of the Act: None (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ¨ No x Indicate...
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...Case Study Project: Option A JC Penney’s Organizational Change Issues JC Penney’s is a historical department store that has been in business for over 100 years and has typically had a long precedence of knowing what its customers wanted and valued, until 2011 when Ron Johnson took over as CEO in order to revamp the store’s image and bring it into the 21st century (Hirsch, 2015). Johnson was the former successful Apple Store executive and strategist who was hired in hopes to entirely overhaul JC Penney’s (JCP) current strategy, moving away from tactics former CEO Mike Ullman implemented due to failing revenues and steadily decreasing stocks over a seven year period (Springer, 2013). Johnson was very ambitious and planned a major strategic transformation of JCP. He fired seasoned executives and many high level employees he deemed unwilling to accept new change and brought in a new executive/leadership team. Retail associates were evaluated under a color code system and if they were not accepting of the new policies they too were fired. This new evaluation system was viewed as very stressful by employees, however, was intended to facilitate change. This evaluation system along with mass layoffs were an attempt to force workers into a new culture (April, 2013). This was not a positive way to implement change. Johnson created a strategy for change based on his knowledge of how the Apple Stores and Target’s transformation occurred. He assumed the...
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...JWCL165_c14_674-725.qxd 8/16/09 7:46 AM Page 674 14 Financial Statement Analysis Chapter STUDY OBJECTIVES After studying this chapter, you should be able to: 1 Discuss the need for comparative analysis. 2 Identify the tools of financial statement analysis. 3 Explain and apply horizontal analysis. 4 Describe and apply vertical analysis. 5 Identify and compute ratios used in analyzing a firm’s liquidity, profitability, and solvency. 6 Understand the concept of earning power, and how irregular items are presented. 7 Understand the concept of quality of earnings. The Navigator ✓ The Navigator Scan Study Objectives ■ Read Feature Story ■ Read Preview ■ Read text and answer p. 681 ■ p. 694 ■ Work Comprehensive Do it! p. 699 Do it! ■ p. 701 p. 703 ■ ■ Review Summary of Study Objectives ■ Answer Self-Study Questions ■ Complete Assignments ■ ✓ Feature Story IT PAYS TO BE PATIENT In 2008 Forbes magazine listed Warren Buffett as the richest person in the world. His estimated wealth was $62 billion, give or take a few million. How much is $62 billion? If you invested $62 billion in an investment earning just 4%, you could spend $6.8 million per day—every day—forever. How did Mr. Buffett amass this wealth? Through careful investing. You think you might want to follow Buffett’s example and transform your humble nest-egg into a mountain of cash. His techniques have been...
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............................................................................................... 1 Industry Profile .................................................................................................... 12 Industry Trends ................................................................................................... 13 How the Industry Operates ............................................................................... 23 Key Industry Ratios and Statistics ................................................................... 29 How to Analyze a Retail Company ................................................................... 31 Glossary ................................................................................................................ 36 Industry References ........................................................................................... 37 Comparative Company Analysis ...................................................................... 38 This issue updates the one dated November 2012. The next update of this Survey is scheduled for December 2013. CONTACTS: INQUIRIES & CLIENT RELATIONS 800.852.1641 clientrelations@ standardandpoors.com SALES 877.219.1247 wealth@spcapitaliq.com MEDIA Marc Eiger 212.438.1280 marc.eiger@spcapitaliq.com S&P CAPITAL IQ 55 Water Street New York, NY 10041 Topics Covered by Industry Surveys Aerospace & Defense Airlines Alcoholic Beverages & Tobacco Apparel & Footwear: Retailers & Brands Autos...
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...Kantabutra received his doctoral training in leadership from Macquarie Graduate School of Management in Sydney. Pisana Vimolratana is a PHd candidate with the Leadership Research Group, College of Management, Mahidol University. This article presented a study that examined associations of store manager’s passion for motivation of staff and the use of vision among staff in Australian retail stores and how it correlates with the outcome of staff and customer satisfaction. I agree that leaders who display a passion for vision and motivation are associated with higher staff and customer satisfaction. The study was conducting with valid information, with the one drawback being that the study was accomplished only on apparel stores that sold only brand new finished clothing products for individual use, excluding shoes and accessories. Khan, S.. (2010). Impact of Authentic Leaders on Organization Performance. International Journal of Business and Management, 5(12), 167-172. Retrieved January 24, 2011, from ABI/INFORM Global. (Document ID: 2225191461). Shahid Nawaz Khan is a PhD Scholar, Faculty of Management Sciences, International Islamic University Islamabad, Pakistan. With the help of literature review, the purpose of this study was to search and discover the new creation of Authenticity,...
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...Philosophy of Compensation Nikolette Arnold Letu How should a compensation plan reflect an organization’s mission statement and core values? The company’s mission and vision statements reflect its core values. For the same reason, having the right vision and mission statement is of outmost importance as it serves as a guiding principle for organizations to be able to stay focused on what they intend to do and how they should do it (Evans, J., 2010). Most organizations that have aligned their activities with their vision and mission statements have gained more than satisfactory results. Part of an organization’s strategic development is the setting of goals that coincide with their core business values. For example, a product manufacturer would ask, what is the purpose of making these products? How do I market these products? In the face of the competition, how would I know that consumers would buy these products? In addressing these questions, one would need to have a clear goal of what particular product he would manufacture and the intended market for the said products. Apparently, the product must have an edge whether in pricing, design and other value adding strategies in order to become sellable. In this regard, a manufacturer sets a vision of what he wishes to accomplish; should he want to become the leading producer of sports apparel. In order to accomplish that, he sets his mission, if it be producing the best sports apparel using only the best material...
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...telephone companies. (Greenleaf, 1977; Spears, 1995). Greenleaf speculated that one individual could simultaneously be both a leader and a servant. Though the foundation of the concept is associated to Greenleaf, he states Jesus Christ amongst other biblical front runners are the greatest leaders who served others. (Greenleaf, 1977). Servant leadership gained popularity after the writings of Greenleaf in 1970. Since the original 1970 essay by Greenleaf, additional research articles, books, and lectures have been written on the topic of servant Leadership. In the article, Work, Spirituality, the Moral Point of View Kenneth E. Goodpaster describes the concept of Servant Leadership as a buzz phrase that has taken corporate America by storm, In an environment racked with stress, insecurity, tough decisions and 60-hour weeks, you might expect a resurgence of a management model, based on Machiavelli's Prince, Leonia Helmsley or some other Theory-X icon. Instead, there's a stirring in the opposite direction: A flood of management books, articles and musings that propose the idea of leading from a service perspective; managing from the heart, value-based management, sensitivity and vulnerability. (1995, p 40) Examples of servant leadership are dated back to biblical era of Christ. Through these illustrations we will investigate the effects of this style of leadership from and organizational point of view. Measuring the Effectiveness of Leadership After a case study conducted...
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...5 Purpose of the Study 5 Sears: Trends in Sales 5 Competitors 7 Sears Consumer Segments 8 Purchasing Trends 11 Legal Issues 11 Social & Cultural Issues 12 Economic Trends 14 Technological Innovations 15 Research Objectives 17 Methodology 18 Data Analysis & Results 21 Profile of the Sample 21 Descriptive Results 23 Difference & Associative Analysis 33 Limitations 37 Conclusions & Recommendations 40 References 46 Appendix 49 List of Illustrations Figures Page Figure 1.0: Sears Brands 5 Figure 2.0: Respondent’s Gender 21 Figure 3.0: Past Six Months Mall Visits 22 Figure 4.0: Clothing Stores 23 Figure 5.0: Percent of Respondents that Purchased Fitness Equipment in the Past Two Years 24 Figure 6.0: Fitness Equipment Purchase Location 24 Figure 7.0: Most Popular Sears Brands 28 Figure 8.0: Incentives to Increase the Probability of Entering a Store 30 Figure 9.0: Social Media 31 Figure 10.0: Facebook Presence 32 Figure 11.0: Gender vs. Mall Visits 35 Tables Page Table 1.0: Respondent’s Age 22 Table 2.0: The Appeal of the Kardashian Kollection to Females 23 Table 3.0: Perception of Sears 25 Table 4.0: Cause Marketing Practices 29 Table 5.0: Mall Visits vs. Store Location 33 Table 6.0: Price vs. Trendiness 34 Table 7.0: The Relationship between Perception of Service and Age 36 Executive Summary Objectives This study was an investigation...
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...based retail chain of departmental stores. It is currently operating under two brand names the Macy’s and Bloomingdale in over forty five states of America. The company specializes in the range of products including jewelry, furniture, house hold items, footwear, clothing and other related items.It also offers online shipping services to the clients in large numbers of countries. The company currently operates in four business segments including Macy’s, macy.com, Bloomingdale’s and Bloomingdales.com (one source, 2011). The company’s stocks are listed in the New York Stock Exchange under the symbol M (Macy’s Inc, 2011). The current market capital of the company is over thirteen billion US dollars and holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths • Market position • Business operations • ecommerce Weaknesses • Legal issues • Geographic concentration Opportunities • Business expansion • Expanded product lines • mergers Threats • Competition • Regulations • Economic conditions Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and future...
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...retail chain of departmental stores. It is currently operating under two brand names the Macy’s and Bloomingdale in over forty five states of America. The company specializes in the range of products including jewelry, furniture, house hold items, footwear, clothing and other related items.It also offers online shipping services to the clients in large numbers of countries. The company currently operates in four business segments including Macy’s, macy.com, Bloomingdale’s and Bloomingdales.com (one source, 2011). The company’s stocks are listed in the New York Stock Exchange under the symbol M (Macy’s Inc, 2011). The current market capital of the company is over thirteen billion US dollars and holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths * Market position * Business operations * ecommerce | Weaknesses * Legal issues * Geographic concentration | Opportunities * Business expansion * Expanded product lines * mergers | Threats * Competition * Regulations * Economic conditions | Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and...
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...retail chain of departmental stores. It is currently operating under two brand names the Macy’s and Bloomingdale in over forty five states of America. The company specializes in the range of products including jewelry, furniture, house hold items, footwear, clothing and other related items.It also offers online shipping services to the clients in large numbers of countries. The company currently operates in four business segments including Macy’s, macy.com, Bloomingdale’s and Bloomingdales.com (one source, 2011). The company’s stocks are listed in the New York Stock Exchange under the symbol M (Macy’s Inc, 2011). The current market capital of the company is over thirteen billion US dollars and holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths * Market position * Business operations * ecommerce | Weaknesses * Legal issues * Geographic concentration | Opportunities * Business expansion * Expanded product lines * mergers | Threats * Competition * Regulations * Economic conditions | Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and...
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...apparel. With growing competition and a stagnant economy, the company must continually work to maintain sales, profits, and customer loyalty. L.L.Bean does this by focusing on the competitive forces prevailing throughout the business environment. These forces include new market entreats, the power of the buyer and the supplier, the growing threat of substitute products, and their competition. L.L.Bean’s Competitive Forces L.L.Bean works hard to reduce the threat of new entrants to the marketplace by erecting barriers to entry. L.L.Bean accomplishes this by offering products or services that are difficult to displace in the eyes of customers. L.L.Bean products are recognized around the world for their practical design and high quality. L.L.Bean has built its brand by maintaining customer perceptions of quality and service. The company conducts business with the belief that the brand should reflect the values of L.L.Bean, along with the products it sells (Reed et al., 2009). The company devotes significant time and energy to product research, testing and development. This process includes lab tests, field testers and employee and customer feedback. L.L.Bean operates its own independent test lab for scientific analysis of materials, construction and design. Prototypes for new products are tested, revised and retested in a continuous cycle until they meet customer requirements and L.L.Bean quality standards. The company also brings new and innovative products into the marketplace...
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...in Argentina -Kraft Foods Argentina (KFTA)- and the Workers Internal Commission (WIC) of the firm s most important industrial plant in the country. The Argentinean Ministry of Labor (MLAB) convened the MC negotiation to settle an organizational conflict, regarding of opposing views about what preventive measures were adequate to cope the risks posed over the workers health by the 2009 global epidemic outbreak of swine influenza A(H1N1), that escalated out of the parties control. The contribution of our case study, on such specific type of labormanagement negotiation, is that it allows to gain a better understanding on how negotiators, confront the complexity of contextual circumstances and manage the process and, in addition, that it explores through the theoretical lens of the Turning Points (TP) framework -precipitants, departures and consequences- how they retrospectively judge that those essential elements interplayed along it. We consider that the KFTA case corroborates the aptitude of the TP framework for such kind of examination and that it allows to extract practical implications on how labor-management negotiations, although different from the international, can be managed in ways that may lead...
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