Sears Tragedy Essay

Satisfactory Essays
Week prep one
Sear and the Lampert Tragedy.

Sears has long been one of the most well known retail companys in the United States. However, Sears along with many other traditional retail companies have been hit hard over the last two decades. The dangerous combination of the stock market crash in the early 2000`s, failing job market and the rise of convenient online shopping hitting the market full force. Sear like many other retailers has found itself struggling to stay aloft in this new digital world we live in today. However, Sears has had one more big hit to its organization and in particular its culture. That hit came in 2003 when Eddie Lampert, a Yale graduate that had been labeled the next Warren Buffet. Lamparts appointment as CEP of the company and indeed his almost immediate acquisition of Kmart, who had found itself in the process of bankruptcy. Lead to high hopes for the many long time associates and supporters of the company who got its start over 100 years ago. However, Lamperts lack of retail management experience soon proved fatal to the company’s culture. Some of the many issues that soon arose were that Lampert preferred not to have direct contact with his staff, he was prone to violent outburst, started pulling funds are
…show more content…
His lack of connection with his accosates and because many of his subordinates enter the meeting rooms in fear of his notorious temper. It has created a Negitive relashionship enviorment based on the relashionship Theiry. In Adishion this corilating negative calture has trickled down throughtout the orginizashion, destroying in many ways the reputashion of this once highly respected orginizashion. Becouse of the tenchion and fear that has become assocated with Lamperts leadership and inability to accept new idea that might be contrary to his own. It leaves the Sears orginizashion not only anticipating its downfall but expecting
Get Access