Business and Research Project Essay

JC penny has been rill successfully for close to 90 years. Most entrepreneurs and motorbuss prospect the same dilemmas at times. The choices one makes are the basis for his or her come with success. The chief executive officer of JC Penny Ron Johnson was faced with many management dilemmas. The first of many dilemmas that Ron Johnson was faced with was to innovate or conserve JC Penny. Innovation is of the essence(predicate), but one should also emphasis on new applications and new markets as well. However, the revenues of innovations are in the future. ane needs also to get the maximum out of ones current headache. concord an article published by Forbes Ron Johnson did not accent and solving the real problem with JC Penny. Sales fell some 25%. The stock dropped 50% He spent lavishly trying to make over the shuffle.He modernized the logo, upped the TV ad spend, spruced up stores and implemented a more consistent pricing strategy. But that all was designed to succor JC Penney competes in traditional brick-and-mortar retail. Against traditional companies like Wal-Mart, Kohls, Sears, etc (Hartung, 2014). If the leader or film director does not invest there comes a time when the current business declines without new innovation to take over JC Penny revenues. If a manager invests too much, it may end up endangering the continuity of the current business. According to Joshua Kennon J.C. Penney saw sales fall from $19.903 billion in 2007 to $12.985 billion in 2013.This caused the firm to go from a pre-tax profit of $1.792 billion to pre-tax losses of $1.536 billion, a staggering swing of $3.328 billion. Dividends were slashed, book value destroyed. There were rumors the company was hold out by pushing payable bills and hoarding cash (Kennon, 2013).The purpose of study team Cs research is to identify the most crucial factors to customers that are considering shop at J.C. Penney. This statement speaks to the researchers trouble and states goal or obj ective of the research. This statement entrust evaluate errors that were do J.C.Pennys top management, putting the company into a genuinely vulnerable predicament with the core customers. The factors that will be considered are flat associated with management errors such asMisreading what shoppers want- coupons, sales price/ headroom itemsNot testing the ideas in advance- assuming the culture was the same as other companies Alienated the core customersMisreading the JC Penney brandNot respecting the JC Penney company overallFrom these errors the team will provide research questions to include in the paper, gather the information the is related to the customer most recent shop experience with the company to develop a proposed research plan to shell out the most management dilemmas.Draft of Research QuestionsLearning team C intends to research the reasons J.C. Penney had a decline in customer core mean(a) and sales which almost led to the demise of the company. This research wil l be conducted via survey with the intent of possibly salvaging the creditability of the company. Our learning will provide surveys to adults that put on shopped J.C. Penny either online or in the store within the extreme two years. The survey questions used would supply management with opportunities to test effectiveness marketing strategies to revive sales and retain the companys initial core customer base. LTC will provide the following questions to gather information for research in the surveyWhat is the age group/gender of the thespianHow far from home will he or she be will to drive to the storeWhat is the importance of coupons and sales price/clearance itemsHow patronize does the participant shop online or in the storeHow important is the brand name that is provided by the companyHow important is the atmosphere of the store (i.e. Arizona, IZOD, Dockers, etc)How important is the culture of store (i.e. is food courts or specialty boutiques important) After hoard a more p recise list of question to provide for the survey, we will rank the factors from least to greatest importance to determine thedecision make process for J.C. Penney current dilemma.ConclusionEventually, JC Penny did fire Ron Johnson and rehired the previous CEO Mike Ullman, who stills faces big challenges. JC Penny has posted sales drops and losses in its first three quarters. As JC Penny attempts to recover from its dilemmas from the period in which it alienated consumers, and infuriated its employees, its new CEO Mike Ullman, is making headway in trying to purge corporate ranks and bring the customers back to shopping at JC Penny. In business leaders or managers all face some challenges that if left unaddressed such as JC Penny dilemma can massively affect the business. The good news is that there is at a time a solution in place to help JC Penny retrovert to being successful.ReferencesHartung, A. (2014). Two Wrongs Wont Fix JC Penney. Retrieved from https//ecampus.phoenix.edu/ secure/aapd/cwe/citation_generator/web_01_01.asp Kennon, J. (2013). The whirl of J.C. Penney What Caused It and Can It Be Fixed?. Retrieved from http//www.joshuakennon.com/the-collapse-of-jc-penney-what-caused-it-and-can-it-be-fixed/