Management Style At Jc Penney

Management styles affect every part of a company. The way executives chose to lead a company can affect the path which it takes, whether it is good or bad, that is up to management and their leaders. The following discussion on the management and corporate structures of Wal-Mart and Costco will be evidence for how Wal-Mart could benefit from using some of Costco 's corporate business practices.

The industry we have chosen is the department store-retail industry. Within this industry, we have chosen the department stores of JCPenney and Macy’s. We find this industry, as well as these two companies, interesting from a strategic perspective. JCPenney has recently undergone a massive strategic restructuring in regards to its pricing, brand offerings, and store layout, pushing it away from the typical department store strategy of discounts and coupons. Its new strategy has become much closer to Wal-Mart’s strategy of every day low prices. Macy’s, on the other hand, has restructured with a push from the economic

CEO Johnson’s time with JC Penney’s was short lived and only lasted 17 months. The three core processes of business that he ignored was People, Strategy, and Operations. From the people aspect, he missed several key details. Johnson just assumed that people thought JC Penney’s prices were too high, so he lowered them and quit having sells (Tuttle, 2013). He also drove customers that had been shopping there for years away. With too many changes happening at one time, loyal customers did not agree with the changes and started shopping elsewhere.

Historically, J. C. Penney’s strength had been communicating the relationship between quality and value, in a way that the customer could understand. J. C. Penney lost this connection when we

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.).

Department stores are not easy to manage, and take a whole team of individuals to run daily operations smoothly. Dillard’s success at the turn of the century came from balancing finances properly, incorporating a friendly atmosphere, and building its reputation as a welcoming upscale department store. In recent years, however, Dillard’s Inc. has surfaced in headlines for being listed as one of the worst companies in the nation to work for. With stiff competition and acquisition factors, the department store industry is not one to lag behind in and

J. C. Penney Corporation, Inc, also known as JCPenney, is a chain of American department stores specializing in selling affordable clothing, shoes, accessories, and home decor for the entire family. For more than a century, JCPenney has been a regular shopping destination and a dependable retailer for the American family. In 1902, the department store was founded by James Cash Penney and was established on the principle of the Golden Rule. Over the years, the company has developed a strong reputation for putting its customers first and servicing everyday needs. From its incorporation in 1924 until 2010, JCPenney experienced large levels of growth and success. JCPenney’s Corporate address is 6501 Legacy Dr, Plano, TX

JCPenny was founded in April 1902 by James Cash Penny. The objective of JC Pennys is simple, to provide products to meet each and everyone’s’ needs. The stores have switch to promoting their house brands more than promoting brands that a shopper can get elsewhere. By promoting their house brands, JCPennys feels like they can increase sales because a shopper would have to go to Pennys to get those brands. The company is endorsing what they refer to as the omnichannel. This is the cohesiveness between stores and online to increase the ease of shopping for the consumer. Now the financial objectives are as follows,” the company provided financial performance estimates for the 2017-2019 period, as follows: Compounded annual comparable sales growth anticipated to be 3.0 %; Gross margin is expected to improve 75-100 basis points; Additional SG&A expense leverage of 215-240 basis points; Net income is expected to be between $450-500M by 2019; Earnings per share of $1.40-1.55 by 2019.” (JCPenny, 2016) I know that the company has tried many times to create a new image because they are struggling to meet the demand of the modern shopper. These latest objectives I

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.

Throughout my research, JCPenney's has been losing money because , through a marketing perspective, they have lost their identity. To explain, JCPenneys in the past was a department store targeted for middle income familes. The store promised to display the fashion of the middle class, catering to families. The company sold family products. It was based on the ideal of the family. During its peak, that was craze, a nuclear family, and JCPenneys catered to that craze. As time passes, trends come and go, this was no exception, when a company does not replace their customers, their older ones will die out (also in a literal sense). On top of that, other department stores such has Macy's and Khols, came out offering similar product, but at cheaper

Since becoming the CEO of J.C. Penney, Ron Johnson made some serious changes to bring customers back to their stores (Kinicki & Williams, 2013). First, he evaluated J.C. Penney’s current strategy to determine the strategy that he needed to create. His strategy involved lowering prices, less promotions, less private-labeled clothing, and restructure the highest traffic area in the middle of the stores (Kinicki & Williams, 2013).

JCPenney highlighted it merchandising strategy at the 15th and they highlighted the company is going focus on certain merchandise categories like home, footwear, and accessories such as bags. Home merchandise is a key aspect to JCPenney is merchandising strategy. They are plan in relaunched there home catalog in March 2015 after a gap of five years. They plan on to launch their second home catalog in the fall of 2015. JCPenney is plan on expanding their women’s shoe department with a combination of sit-and-fit and open-sell environments. They are pushing for this expansion to be completed by August 1. There are moving men’s shoes to the men’s department in an open-sell environment. JCPenney is focusing on their high margin center core products

Ullman was called back to replace Mr. Johnson. Ullman had been in charge as the CEO before Johnson came on board. Ullman was quickly called upon to bring back JCP on track pending the time another person will come. Ullman had faced a tough time bringing back the sales despite reversing many of the changes Mr. Johnson had set in place. Some of the noticeable changes he restored were discounts and house brands. He also brought back promotions and coupons that Mr. Johnson stopped during his reign as the CEO (Kraft-Linder, 2014). In the first half of 2014, there was a growth of 6%, but they remain $2.2 billion below the sales position in 2011, three months before Mr. Johnson came on board (Kapner, 2014).

he type of clientele that comes to J.C.Penney, Apple products as far as I remember have been for high end customers, whereas, JCPenney mainly begin a clothing stores attracts customers from every section of society. His strategy of removing cosmetic counters and putting a Town Hall, is not very attractive. Why would anyone offer food in a clothing store. There are high chances of customers with sticky hands going through the racks of clothes, and not knowingly stain some fancy apperallels.

Ron Johnson Apple’s former sales executive, accepted an executive job at JC Penney Co. as chief executive (Kinicki & Williams, 2013). In a short period of time from accepting the job, he realized several things that had to be changed in the way the organization conducted business. Among the many situations that would have to be changed, Ron Johnson realized that JC Penney’s strategy to attract client was almost an act of desperation. Ron Johnson realized that the company was having many sales announcements throughout the year and with the average client purchasing only 4 times a year. The new plan was a very ambitious and risky plan and carrying the new strategic plan was going to be very expensive, and was going to take time to change