The Week : Strategic Control Systems

1042 Words5 Pages
Company Name: Ann Taylor Topic of the Week: Strategic Control Systems Synopsis of the Situation Ann Taylor is a clothing store that provides high end, or upscale, clothing to professional women. The store chain was started in 1954 by a man named Robert Liebeskind. The name of the store was actually taken from one of Robert’s best selling dresses and not an actual person (Pearce & Robinson, 2013). Ann Taylor’s has had several CEO’s in the past that have tried multiple ideas to revive sluggish sales. Some of the ideas that were implemented and removed quickly were; a fragrance line, cropped T-shirts, a cosmetic line, shoe stores, and more. There seems to be little, to no strategic controls in place. Each product division is starting to…show more content…
The first step is to develop a clear strategic plan that utilizes strategic controls. This is needed to ensure that the strategic decision is still the most effective decision. According to Pearce and Robinson (2013), “[strategic] control is concerned with tracking a strategy as it is being implemented, detecting problems or changes in its underlying premises, and making necessary adjustments” (p. 382). By having controls set in place, Ann Taylor would be able to quickly respond to the market. One of the major issues surrounding the Ann Taylor Company is the fact that they are dealing with a large amount of executive management changes and the two main divisions are taking customers from each other. By expanding one line outside of the United States, Ann Taylor can reestablish their brand with business women around the world. Implementation Ann Taylor needs to utilize a balanced scorecard along with strategic control systems. A scorecard will help make sure everything is going the right direction while the controls are put in place just in case the scorecard is going the wrong direction. The balanced scorecard is used in business to make sure the business is meeting the metrics that are previously established. According to Edwards (2011), “[by] focusing on both financial and non-financial performance targets and outcomes, the balanced
Open Document