Strategic Management of J.C. Penny Company Essay
This paper seeks to analyze the strategic plans of J. C. Penny Corporation as an organization in order to propose strategies based on the external and internal analyses of the environments in relation to the company’s mission and vision. An implementation of the propose strategies is also discussed including the identification of critical success factors that must watched by management in ensuring the attainment of its long term objectives via the strategic options that the company will choose to have. 2. 1. Brief background of the organization J. C.
Penny Company, which was founded in 1903 and presently based in Texas, is presently engaged in selling merchandise and services to customers through its department stores and catalogue/Internet channels. Its products include shoes, accessories, jewelry, family apparel, accessories, and home furnishings. Its department stores render services to customers through salon, portrait photography, optical and customer decorating. At present, company operates 1073 department stores that could be located in the US and Puerto Rico including its catalog/Internet fulfillment centers and four warehouses with regional capacities (J.
C. Penny, 2008). 2. 2 Mission Statement & Vision Statement. The company’s mission statement and vision statements provide the direction where the company wants to go. They are
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This is consistent with company’s declared branding strategy of providing its customer with style and quality at smart price, while the company makes available to customer an array of good/better/best merchandise as balanced national, private and exclusive brands (J. C. Penney Corporation, Inc. , 2008e). At another point, the company also declared to be its mission to increase access to after-school program for children in need (J. C. Penney Corporation, Inc. , 2008b). Still at another instance the company states its overall vision to become a leading corporate citizen in youth development and community involvement (J.
C. Penney Corporation, Inc. , 2008c). The company appears to have also its corporate social responsibility strategies as articulated in these mission and vision statements. Its present strategy that was launched in 2007 is its “Every Day Matters” brand positioning, whereby the company has targeted to generate deeper and more emotionally driven relationships with its customers by engaging fully its more than one hundred fifty thousand associates to offer encouragement and provide ideas to keep customers inspired in every shopping experience with the company’s stores (J.
C. Penney Corporation, Inc. , 2008f). Because of its successes in the past in terms of operating performance, the company wants to see itself to be the preferred shopping choice of Middle America (J. C. Penney Corporation, Inc. , 2008g). In other words, mission and vision statements lead to goals and goals lead to objectives that will require strategies for their realization.