The Battle of the Discount Retailer Essay

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

Well definitely Elon can easily be classified as both a revolutionary and growth entrepreneur. When he introduced Paypal it was a revolutionary online transactions system and soon it

Looking at Targets Porter Analysis, internal rivalry is one of the major and significant threat to their profitability and the future development of their industry. Competing in the market with big competitor like Walmart with a superior means to gain large market shares, Target is finding it very difficult to bring their prices down to keep up with Wal-Mart’s ability to cut input and supply chain costs. Looking at Target contribution into this retail industry, they had succeeded in surviving in the discount retailing sector compared to K-mart among other competitors. Target had been so impressive in their market profit margin because they have been growing extensively and maintaining relatively high profit margins within the industry.

In his analysis of companies that are able to achieve greatness, James Collins identifies the role of a “Level 5” leader as instrumental in the transformation. Collins identifies this type of leader as an individual “who blends extreme personal humility with intense professional will” (21). While they are willful and fearless, these leaders are also modest and humble. The leader is less interested in personal glorification and is more interested in the performance of the company. They are intensely driven towards building a successful company that is capable of continuing its success in their absence. In his analysis of companies, he identified that all good companies that became great had Level 5 leaders at the help when they transformed. The leaders are interested in building up their successors such that the company continues on a successful path. This is in contrast with leaders who are interested in the short-term success of a company during their tenure. Level 5 leaders are not concerned “with their own reputation for personal greatness” (Collins 26). Rather, they are willing to share credit for their success with colleagues and successors. Under egocentric leaders, Collins noted that companies would achieve particularly strong growth but they would fall apart immediately after the leader’s exit. However, Level 5 leaders seek to obtain consistent results by finding the best people and creating a

One of the worst fears a company has is the prospect of being average. In a world where the only thing that keeps a company or brand afloat is uniqueness, whether it is the type of product they are offering or level of sustainability they are providing, companies need to stay atop of trends to stay relevant in today’s society. In Chapter 5 of Retail Revival, the theme of mediocrity and the motif of the “disappearing middle-class,” help pave the way for the discussion detailing the “Road to Remarkable.” As previously mentioned in Chapters 1 through 4, the middle class, a group that for years shared the same needs and wants, is diminishing. Mid-tier retailers, such as Sears, are suffering due to the generation of two value propositions that have divided consumers into only two categories, completely annihilating the middle class. Consumers either value high-fidelity products, which embody exclusiveness and a strong emotional connection, or high-convenience products, which are goods that are ubiquitous and have a wide appeal. Retailers need to define which value proposition they are going to focus on and then deliver on this ideal. To do this, companies need to choose one of the five “safe corners” they want to pursue and perform to the best of their ability in their specified corner. They can choose a corner where they, “sell remarkable products in a differentiated way” or “sell differentiated products in a remarkable way.” Then again, they could also focus on

Target Corporation has some new imminent threats on its horizon. Its challenge continues to be the problem of competing with Wal-Mart, Costco, and other huger retailers that are front runners. In order to decrease the risk posed to revenues by internal rivalry in the discount retailing industry. The key issues: growth and differentiation.

In the lasting war among discount superstores, thrifty customers can follow a few of their go-to stores for deals back to that year: 1962, when Walmart, Target, and Kmart all opened their entryways. Following 50 years of moving back costs, bull 's-eyes, and Blue Light Specials, Cheapism set out to figure out which discount retailer has transcended the others as far as value, quality, and administration. As anyone might expect, Walmart posted the least cost on a shopping basket of 30 indistinguishable and like things - almost 5 percent less expensive than Target by and large and around 15 percent less expensive than Kmart. Then again, numerous clients attest that Target displays more appealing stock and a more pleasant shopping background. In their examination of Walmart, Target, and Kmart, they found that Walmart stands its ground on those fronts furthermore offers the amplest cluster of items and administrations both on the web and off, conveying real one-stop shopping. In light of current circumstances, Walmart gains their rebate crown. Target is next in line and Kmart disillusions all in all.

Transformational leadership is very effective for corporate entrepreneurship success because it is responsible for motivating employees to go beyond ordinary expectations by appealing to their higher order needs and moral values. This will cause increased productivity, objectives being meet and high performance. Intellectual Stimulation, Individualized Consideration and Inspirational Motivation are dimensions of

Leading Complex Organizations: An Entrepreneurial Perspective Howard Schultz is one of the transformational leaders in the modern business environment given his role in creation and development of a successful company i.e. Starbucks. Starbucks is renowned for its long standing record of growth, profitability, and success, which is a reflection of effective leadership towards making money. The growth and profitability of Starbucks is largely attributed to the leadership of Howard Schultz. Actually, Schultz has utilized an effective leadership and communication style that has contributed to the development of Starbucks. In contrast, General George Patton is also renowned as a transformational leader who has been idolized as an all-powerful

Target is an American retailing company founded in 1902. It is the second largest discount retailer in the United States (target.com, 2013). Targets mission is to make their store the preferred sopping destination for their guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling their “Expect more pay less” brand promise. In order for Target to compete with the number one largest competitor Wal-Mart the four functions of management must be implemented in their strategic business plan. In this paper our team will explain how internal and external factors affect the four functions of

A very important part of building a visionary company comes with a core ideology. At the same time though core ideology must be subject to change with evolution. A company that can handle these two majors facets is a company that will develop an employee base and stimulate the progress for growth for years to come. All the visionary companies in this book showed exceptional knowledge for core ideology and the need to modify the core itself. Some of the best core ideologies mentioned in the book are broad but so direct that they seem almost common sense. For instance Merck’s “We are in the business of preserving and improving human life,” sounds quite broad but yet describes quite well what Merck is about and has the ability to change for times of evolution. Merck’s ideology is not only a business statement but its what their employees work for. It gives them a sense of pride that their company cares about what their products do other then how many products they sell. This type of ideology is one that all companies

To be successful in today's global marketplace, an organization must learn to adapt in order to stay one step ahead of the competition. Mission statements, goal setting, and planning methods alone are simply not enough anymore. Management fads have given way to time-tested management principles that distinguish good companies from truly great companies. Many organizations have found success by utilizing a technique of balancing their core ideology, stimulating progress, and seeking support by aligning company objectives, strategies, and policies. These companies are what Jim Collins and Jerry Porras call "visionary". Built to Last seeks to discover these timeless management principles that make a company truly "visionary" (Collins &

The case study Renovating Home Depot was the case of a leader who joined a successful business only to discover that the company was running out of growth opportunities and also did not have the basic systems needed for increased growth in place. Robert “Bob” Nardelli was chosen as the CEO of Home Depot based on his proven ability to reenergize slow-growth businesses. He was a leader that went all out to achieve his goals and was identified as someone who was “comfortable in his own suit”, and believes in being successful his own way. He made several innovations which were used in General Electric (GE) where he recorded past successes. We see the success demonstrated in the growth of revenue in Home Depot, as well as opening

A transformational leader is a person that lays his/her goals out and takes extraordinary measures to accomplish them. Their goals usually focus on the well being of the situation and their people. They strive to change the views of others and convince followers that the ethical behavior is morally correct of the leader's. An example of an exceptional leader would be Steve Jobs, the current CEO/co-founder of Apple Inc. Jobs is considered a leading figurehead in both the entertainment and computer industry. "Steve Jobs is listed as Fortune Magazine's most powerful businessman of 2007 out of twenty-five other top businessmen" (Wikipedia). Steve Jobs has made a large impact on our contemporary society due to his contributions, accomplishments

Company vision: The Company has a vision for continued innovations in the products& services, synergize their efforts for continued performance enhancements and establish culture of care and trust with its stakeholders. The graph below explains the sale of wind world Ltd over years.