Jcpenney's Global Success

Entering an untapped international market can strengthen a business tremendously—but what if the costs outweigh the benefits for the market itself? China has long been an important player on the global stage, but recent advances in manufacturing, natural resources, and energy production have catapulted the expansive country to the forefront of international trade. Currently the world’s fastest growing major economy, China is set to eclipse the United States as the world’s largest economy by 2016. Among various domestic and international plays, one of China’s most fascinating uses of its

In 1911 the Dayton Dry Good Company was renamed to the Dayton Company after rapid growth to better reflect its wide assortment of goods and services.

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

Outside the U.S. Costco has stores in Australia, Canada, Japan, Mexico, South Korea, Spain, Taiwan, and the United Kingdom. Costco’s main international market is Canada. In fiscal 2015, for example, Costco’s Canadian store was more profitable than all its other international stores combined. If its market in Canada ever failed, then this could devastate this company (Soni Part 6). Costco needs to diversify its international markets to avoid such vulnerability. Meanwhile, Kroger does not have any stores outside the U.S. (Soni Part 20 COST), and Walmart has stores in 26 other countries (Soni Part 3).

In 2013, this department store has been celebrating being in business for 110 years. It also once lured its customers in with its famous discount pricing strategy and coupons. The retailer is J.C. Penney, a fixture at shopping malls across the country. In 2012, J.C. Penney rebranded itself by making the announcement that it wanted to become America 's favorite store by creating a specialty department store experience (JCP, 2013). Founder James Cash Penney began the company with a Golden Rule: treat others the way you want to be treated Fair and Square (JCP, n.d.).

This store is an off-price retailer that buys the overstock or imperfect items from other department stores. The prices are usually lower in contrast to Nordstrom that sells exclusive clothes from various designers. The level of service is much lower than in Nordstrom. Salespeople are not as enthusiastic and motivated to provide that one-on-one attention to their customers.  As a result, they do not tend to build long-term relationships with customers. Usually a customer cannot find an item due to the store 's disorganization and it is difficult to ask for help finding specific products.  Furthermore, Ross ' strict return policies and guidelines make it difficult for customers to return items.

J.C. Penney is an American retail company that engages in marketing apparel, home furnishings, jewelry, cosmetics, and cookware. James Cash Penney founded the famous business in 1920. On April 14, 1902, Penney and two partners the dry goods store in the small town of Kemmerer, Wyoming. Penney opened more stores, having 34 stores total in the American West. Originally, the company was called J.C. Penney Stores Company from 1913 to 1924. Later, it was reincorporated as J.C. Penney Co. In 1927, the company became a publicly traded corporation listed on the New York Stock Exchange. The company operated about 1,000 stores in 49 states in the United States and Puerto Rico in the beginning of the 21st century. The headquarters was located in New York

J.C. Penney’s has the desire to become America’s favorite retail destination for apparel, accessories and home fashion. With approximately 1,108 operating stores throughout the United States and Puerto Rico, they serve half of America’s families every year. They employ nearly 156,000 associates and strive to be number one in customer service. Despite the recent economic downturn, JCP maintained a steady cash flow and has been able to keep their company running strong.

The following examines the nation of China and its trade relations with the world, particularly the United States. The focus is primarily on China’s culture and how it impacts business dealings with other countries. Areas examined include: Religion, Management Philosophy, and Business Etiquette. Also discussed is China’s growing status as a world super power and how that has impacted the global business landscape. Likewise, various trading partners are examined and the effects of doing business with China, specifically for the United States. Points of concern for the United States are things such as the

This process has more significance in most countries except the Unites States. The approach in the U.S. is to get down to business straight away without wasting too much time on people. This is in stark contrast to the process in China where the focus is on building “Guanxi”, that is, the intricate and omnipresent network of personal relations. The U.S. approach can be a huge problem when doing business with China. The American efficiency interferes with the patient development of a mutually trusting relationship – the very basis of an Asian business agreement. This is what happened in the case study. Mr. Smith had done his research and was aware about the Chinese business methodology, but he did not think it was important to implement it. He was well advised by Mr. Tang. Mr. Tang, even though pointed out the significant features of the “American” and the “Chinese” way of doing business, did not stress enough to make Mr. Smith understand its significance. Mr. Tang also jeopardized his relationship with Mrs. Ming whom he had known for many years by not disclosing that the supplier was not a direct supplier.

I have picked Nordstrom, Inc. the American chain of extravagance retail establishments headquartered in Seattle, Washington. The organization has 349 stores working in 40 states, Puerto Rico and Canada. Nordstrom additionally serves clients through nordstrom.com, nordstromrack.com, and its online private deal website, Haute Look. To develop the business there are new domains Nordstrom needs extend their business as a feature of their general money related methodology. On account of the general microeconomic condition for the nations to be considered for an extension, they need to give extraordinary chances to Nordstrom to enhance their universal nearness. China is the clearest open door. Growing in can be affected by the expense structure and

At this specific time, the economy was coming out of Great Recession. JC Penney sales continued to decline like melted off ice cream falling off an ice cream cone. JCP’s should have stopped their bad marketing train years ago. Based off of personal experiences their merchandise was cheap, fall apart cheap up until the point where I repeatedly kicked myself for making such horrible purchases. I used to shop at JC Penney a lot, but the t-shirts didn’t survive washings; cheap China stuff people tend to shy away from.

JCPenny’s is a retail chain of American mid-range department stores located all around the United States. This establishment offers a wide variety of consumer goods such as: clothing for the entire family, home goods, cosmetics and much more with prices tailored to the middle class American budget. JCPenny’s keeps its customers in their store buying products with weekly coupons, mark downs such as Penny Days, as well as their own private clothing brands that can be found only at their store (Baileys, 2015). JCPenny’s generates half of its revenue from its own brands like Liz Claiborne to Arizona Jeans to St. John’s Bay (Bailey’s, 2015; Wahba, 2014). Due to the retail chain having its own brand it allows the company to have control over

Best Buy, a familiar retailer in the technology world, is struggling to stay on top. Online and mass stores have cornered the market in terms of convenience, customer service and price matching. The recent closing of over two hundred stores alongside falling sales has experts predicting that the giant won’t be in business long. Using a results-only work environment (ROWE), Best Buy has removed the customer from the equation and forced many employees out. A marketing disaster, Best Buy must change its marketing strategy from sales-based to a customer-based to stay afloat.

This proposal provides blueprint to any business that tries to take over other business in International market by providing importance of cultural adaption especially Guanxi or connections in Chinese Market by providing an example of how Hotel international failed in building Roaring Dragon Hotel reputation back by ignoring the importance of cultural adaption (Guanxi Connections in this case). In addition, business should implement new methodologies considering existing methodologies unlike redundancy of employees with Guanxi connections losing its base on which the company is built.