Premium Essay

Leadership Philosophy: Victoria’s Secret

In: Business and Management

Submitted By angepapa
Words 530
Pages 3
Leadership Philosophy:
Victoria’s Secret

Victoria’s Secret (VS) is an American retailer of women’s wear from lingerie to beauty products. I chose this company for many reasons, one being that I purchase items from this company on a frequent occasion, and the others because they are just a brilliant corporation. Victoria’s Secret was started out in San Fransisco, 1977 by a man named Roy Raymond, who felt embarrassed trying to purchase lingerie for his wife in a department store environment. The store was meant to create a comfortable setting for men. In 1982, after five years of operation, Roy Raymond sold the Victoria’s Secret company , with its six stores grossing six million per year to , Leslie Wexner, creator of The Limited, for four million. Victoria’s Secret started to rapidly expand into malls throughout the U.S. By 1990, it became the largest American lingerie retailer topping one billion dollars. By 1995, Victoria’s Secret began to market their company by holding a lavish event called the Victoria’s Secret Fashion Show, which broadcasted on pimetime television for America to watch. On July 2007, Limited Brands sold 75% of their chain to Sun Capital Partners to boost up VS stores and Bath and Body Works units, which provided 72% of revenue in 2006 and almost all the firm’s profit. With such a widespread operation, there is an obvious need for employees to help the company achieve goals. Victoria’s Secret careers not only focus on helping the company earn profits but also allow interested individuals to express their creative instincts in their daily job responsibilities. One of the key components of the organizations success is the ability to design and showcase desired fashion for the marketplace. With fine tailoring of clothing and cutting edge marketing efforts, working at Victoria’s Secret allows individuals to continually challenge themselves.…...

Similar Documents

Free Essay

Leadership Concepts

...Leadership Concepts Joy Daniels MMPBL 520 – Transformational Leadership January 10, 2011 Instructor – Rick Johnson Leadership Concepts Google Inc. is an American corporation that offers internet search engines, public media, and advertising. Google brings in its revenue mainly from its advertising online and in emails. Google has made most of it money in recent years with revenues reaching up to $23 billion in 2009 (Google Inc., 2010). “Knowledge management is any structured activity that improves an organization’s capacity to acquire, share, and use knowledge in ways that improve its survival and success. The knowledge that resides in an organization is called its intellectual capital, which is the sum of everything that an organization knows that gives it competitive advantage—including its human capital, structural capital, and relationship capital” (McShane & Von Glinow, 2005, p. 23). Eric Schmidt is the company’s chairman and CEO who has been a key figure to the company’s success by capturing the knowledge management into his leadership style. The leadership at Google is responsible for the innovation seen within its employees. Eric Schmidt feels that the future of this company can be dictated by its culture. There is not really a five year plan as stated by Mr. Schmidt (Carlson, 2009). Employees are given the opportunity for a more flexible schedule being that they are able to choose the projects that best interest them. As a result this......

Words: 1254 - Pages: 6

Premium Essay

Natura: Global Beauty Made in Brazil

...problems given that Natura products are developed, manufactured, and shipped from Brazil to warehouses and distribution centers in each country Differences of customer expectations, tastes and behaviors in different markets Unfamiliarity of culture and environment when doing business in foreign countries IV. Problem statement “How to successfully grow Natura outside its lucrative home market and establish itself as a strong global brand by capitalizing on the unique “Brazilian model” and brand philosophy in environmental sustainability” V. Alternatives       Finding international partner with expertise in direct-selling Globalization through acquisition or to be acquired by an established global player International expansion through new market entry Strengthening presence in existing markets Expansion of online website to sell products to end consumers New product innovations specific to different markets VI. Recommendations 1) Market penetration – The U.S. Given Natura’s leadership position in Brazil with some international presence, in order to achieve the company’s key objective in building a solid international growth through its unique “Brazilian model” – strategic options for new market entry has been evaluated. In the assessment shown below, the U.S. has proven to be the most favorable entry given its market attractiveness as the world’s largest cosmetics and toiletries market, channel structure of direct selling, cultural proximity to Brazil and most......

Words: 1157 - Pages: 5

Premium Essay

Walmart Customer Loyalty Program

...payment to Starbucks) to get the stars and to earn the “Green” and then the “Gold” levels. Brilliant cash flow move! Overview: The Victoria’s secret rewards program is a store credit card program. The interest rate is 24.99%, there is no annual fee, and late payment fees apply. Benefits: Earn in store credit of $10 for every 250 points earned (earn 1 point for every dollar spent). Special offers for the first 6 months in the program. A surprise birthday gift each year regardless of spending habits. When you earn 250 points, the account is upgraded to VIP status, earning free samples at VIP events, invitation only to in store events, and earning double points on bra purchases. Drawbacks: Very high APR. Must manage credit card. Program does not offer much of a “loyalty ladder”. The program works out to a discount rate of 4%, which seems low on what is perceived to be a high margin product. The VIP level does not seem like much incentive to spend compared to the undisclosed additional reward per 250 points earned. Comments: The rewards program seems relatively weak and excludes young customers (under 18) that are not yet eligible for a credit card. They should also offer members program independent of the credit card program. Insights into young consumers’ habits by tracking spending would be very beneficial. Starbucks My Starbucks Rewards Victoria’s Secret Angel Card 5         Overview: The Alaska Air Mileage Plan is quite simplistic. Simply......

Words: 4862 - Pages: 20

Premium Essay

Ann Taylor: Survival in Specialty Retail

...associations such as the National Retail Federation (NRF) reported data within the clothing sector broken out by: • • • Discount mass merchandisers like Target, Wal-Mart, TJX (TJ Maxx, Marshall’s, A.J. Wright, Bob’s Stores), and Costco. Multi-tier department stores (those offering a large variety of goods, including clothing, like Macy’s and J.C. Penney’s, and the more luxury-goods focused stores like Nordstrom’s and Neiman Marcus). Specialty store chains (those catering to a certain type of customer or type of goods, e.g. Abercrombie & Fitch for casual apparel). More specifically in the case of specialty retail, many broadly recognized primary categories existed such as women’s, men’s, and children’s clothing stores (e.g., Victoria’s Secret for women’s undergarments xxii, Men’s Wearhouse for men’s suits, abercrombie Kids for children aged 7-14 xxiii). Women’s specialty stores were “establishments primarily engaged in retailing a specialized line of women’s, juniors’ and misses’ clothing.” xxiv. A unique form of organization that sometimes appeared as competition in the specialty retail category was the clothing designer. Originally an evolution of the custom seamstress, for one-ofa-kind garments, fashion design houses such as Liz Claiborne and Ralph Lauren could also produce their creations in bulk, as ready-to-wear clothing. These firms were generally considered apparel wholesalers, with their items normally for sale to the clothing retailers, such......

Words: 11348 - Pages: 46

Premium Essay

Samora

...sector. Practically speaking, industry watchers tend to recognize three categories of clothing retailers: • Discount mass merchandisers: Chains such as Target, Walmart, TJX (T.J. Maxx, Marshall’s, HomeGoods), and Costco. • Multitier department stores: Those offering a large variety of goods, including clothing (e.g., Macy’s and JCPenney), and the more luxury-goods-focused stores (e.g., Nordstrom and Neiman Marcus). • Specialty store chains: Those catering to a certain type of customer or carrying a certain type of goods, for example, Abercrombie & Fitch for casual apparel. More specifically in the case of specialty retail, many broadly recognized primary categories exist, such as women’s, men’s, and children’s clothing stores (e.g., Victoria’s Secret for women’s undergarments,16 Men’s Wearhouse for men’s suits, Abercrombie Kids for children ages 7 to 1417). Women’s specialty stores are “establishments primarily engaged in retailing a specialized line of women’s, juniors’ and misses’ clothing.”18 Specialty Retailer Growth: Branding Challenges Unlike department stores that sell many different types of products for many types of customers, specialty retailers focus on one type of product item and offer many varieties of that item. However, this single-product focus increases risk, as lost sales in one area cannot be recouped by a shift of interest to another, entirely different product area. Therefore, many specialty retailers constantly seek new market segments (i.e.,......

Words: 8987 - Pages: 36

Free Essay

H&M Case

...Whether Persson’s plans were enough to catch up with Inditex remained to be seen. H&M Early History Erling Persson, a former pen salesman, opened H&M’s first store in Sweden in 1947 to provide women’s fashionable clothes at very low prices. Over the years, Erling broadened the line into men’s and children’s apparel and added stores in northern European markets. The company went public in 1974, but the family retained a controlling interest. Through H&M’s expansion, Erling’s obsession with customer value and low costs led him to pass savings onto customers rather than to increase margins and profit. In 1982, Erling handed leadership of the company over to his son, Stefan Persson. At the time, sales were about $330 million, 32% of which were outside Sweden, and H&M operated 147 stores.2 Stefan firmly subscribed to his father’s philosophy and continued to expand aggressively while driving costs down. By the time he stepped down as CEO in 1998, he had grown sales to $2.8 billion, operating profits to $409 million, and the store count to 550. More than 70% of sales were from ________________________________________________________________________________________________________________ Professor John R. Wells and Research Associate Galen Danskin prepared this case. This case was developed from published sources. Funding for the development of this case was provided by Harvard Business School, and not by the company. HBS cases are developed solely as the basis......

Words: 8569 - Pages: 35

Free Essay

Old English Literature

...baroque sadomasochistic emotion, lust for death, hatred and desire • Harold Bloom: healthy and normative passion The Form • Blank verse, i.e. unrhymed iambic pentameter - nobler characters • prose - low born, common characters Main topics • Surface is an appearance, the truth lies underneath • vanity and pride distort the truth • self-knowledge is essential • battle between good and evil • evil: witches, Iago • good: love, enthusiasm for life Romeo and Juliet • Written 1597 • set in Italy • two families in Verona: the Montegues and the Capulets • Romeo is a Montegue, Juliet a Capulet • families involved in a bitter feud • Romeo loves Rosaline. • Capulet banquet • falls in love with Juliet • they kiss, meet in secret, wed • Romeo flees to Mantua • Juliet should marry Paris and feigns suicide • Paris, Romeo and Juliet die in the Capulet crypt Characters • Juliet, Mercutio, the Nurse, Romeo • tragedy and comedy at the same time (Nurse and Mercutio) • Mercutio: scene stealer, witty, courageous, obscene and quarrelsome, repressed homoeroticism? Shakespeare 's characters • Develop themselves • soliloquy and dialogue • more than 100 maj or characters, many hundreds minor • complexity Hamlet • Son of the former king of Denmark • Queen Gertrude married his brother Claudius • the ghost accuses Claudius • Hamlet does not know what to do • Is he lovesick for Ophelia? • A murder scene • Claudius stops the performance • Hamlet......

Words: 9579 - Pages: 39

Premium Essay

The Victorian Age

...created in 18th century by John Wesley who believed in the dedication to humanitarian causes and social reforms; * utilitarianism: whose theorist was Jeremy Bentham, neglected human and cultural values and trusted reason as able to overcome any problem; * empiricism: firmly attacked the utilitarian philosophy; Charles Dickens and Jhon Stuart Milton, a major figure in this movement, thought legislation should have a more positive function in helping men develop their natural talents; therefore a great importance was given to education and art; Milton also promoted a series of reforms in order to improve the life of the lower classes (free education, emancipation of women, trade union organisation, etc). Also Darwinism played a key role in this period: scientific discovery (expecially geology and biology) shoke many moral and religious certainties, giving a new view of the Universe as incessantly changing and governed by the laws of chance; Charles Darwin’s work “On the origin of the species” (1859) argued that man is the result of a process of evolution based on the fight for life; this theory discarded the version of the Creation given by the Bible. Queen Victoria’s Reign Queen Victoria came to the throne in 1837 and died in 1901, but the Victorian age is considered to have begun in 1832 with the first Reform Act. The Queen reigned constitutionally and became a mediator above parties (the Liberals and the Conservatives): that’s why the UK managed to avoid the......

Words: 9412 - Pages: 38

Premium Essay

Test-Bank Om

...Electric c) Hawthorne Incorporated d) General Motors e) Western Electric 49. Management science is focused on: a) profit margin b) qualitative systems analysis c) management promotion metrics d) quantitative techniques for solving personnel issues e) quantitative techniques for solving operations problems 50. When was the first mathematical model for inventory management developed? a) 1770 b) 1865 c) 1900 d) 1913 e) 1930 51. Where was the just-in-time philosophy developed? a) Germany b) United States c) Canada d) Japan e) Italy 52. Just-in-time philosophy is applicable in: a) Service organizations b) Manufacturing organizations c) Assembly line operations d) A, B, and C e) A and C only 53. When was the just-in-time philosophy developed? a) 1980s b) 1930s c) 1800s d) 1700s e) 1990s 54. What is a philosophy that aggressively seeks to improve product quality by eliminating causes of product defects and making quality an all-encompassing organizational philosophy? a) CQI b) TQM c) SPC d) JIT e) BPR 55. Which of the following is considered a “quality guru?” a) Elton Mayo b) W. Edwards Deming c) Alex Gamble d) F.W. Harris e) Frederick W. Taylor 56. Supply chain management involves managing: a) the flow of internal information only. b) the flow of materials and information from suppliers and buyers to the final customer. c) the flow of raw materials to inventory only. d) managing the stock room......

Words: 28003 - Pages: 113

Premium Essay

Ferrell's Law

...outcome of the case. It means the judge has decided jurisdictionally that he can hear the case. Investors do not like uncertainty and the continuation of the case will not only result in significant legal costs for Talisman but is likely to have a continued detrimental effect on the value of Talisman shares. It is not just altruism that motivates corporations to operate in a socially responsible manner, but also consideration of the “bottom line.” There are good business reasons for a strong commitment to ethical values: 1. Ethical companies have been shown to be more profitable. 2. Making ethical choices results in lower stress for corporate managers and other employees. 3. Our reputation, good or bad, endures. 4. Ethical behaviour enhances leadership. 5. The alternative to voluntary ethical behaviour is demanding and costly regulation. Regular readers of the news will have seen reports of unethical or aggressive sales tactics used to prey upon vulnerable consumers, most often seniors. Examples include persons claiming to be inspectors, citing roof and chimney repairs as being needed or even required by law. Others, while not resorting to such subterfuge, utilize sales techniques that are confusing or hard to resist for the vulnerable. In the past, persons falling prey to such tactics who signed purchase contracts in their homes had, in Ontario, only 24 hours to rescind the contract. Such direct sales contracts had to be 32 Part 1 Business in a Changing......

Words: 14163 - Pages: 57

Premium Essay

Retail Docs

...that a firm performs more than one set of activities in the supply chain, such as investments by retailers in wholesaling or manufacturing. Backward integration arises when a retailer performs some distribution and manufacturing activities, such as operating warehouses or designing private-label merchandise. Forward integration occurs when a manufacturer undertakes retailing activities, such as Ralph Lauren operating its own retail stores. Most large retailers—such as Safeway, Wal-Mart, and Lowe’s—engage in both wholesaling and retailing activities. They buy directly from manufacturers, have merchandise shipped to their warehouses for storage, and then distribute the merchandise to their stores. Other retailers, such as J. Crew and Victoria’s Secret, are even more vertically integrated. They also design the merchandise they sell and then contract with manufacturers to produce it exclusively for them. Retailers Create Value Why are retailers needed? Wouldn’t it be easier and cheaper to buy directly from companies that manufacture the products? The answer, generally, is no. Although in some situations, it is easier and cheaper to buy directly from manufacturers, such as at a local farmer’s market or from Apple Inc., retailers provide important functions that increase the value of the products and services they sell to consumers and facilitate the distribution of those products and services for the manufacturers that produce them. These value-creating functions include 1.......

Words: 18139 - Pages: 73

Free Essay

Worlds Scerets

...Land of the ‘free .............................................................. 178 .........................................................................................197 Money out of nothing .......................................................207 Global Babylon ................................................................217 The Black Sun ..................................................................238 The network today ........................................................... 259 Under the influence .........................................................280 Satan’s children ............................................................... 288 Where have all the children gone? ..................................312 The secret language .........................................................351 All the Queen’s forces and all the Queen’s men .............. 368 The Goddess and the King ...............................................404 Casting the spell ..............................................................464 Breaking the spell ............................................................487 Bibliography .........................................................................................498 Index .........................................................................................502 Index of illustrations .........................................................................................516 Crazy? There are many who will dub......

Words: 276617 - Pages: 1107

Free Essay

Politic History of France

...Course: European Political History Required Sources: A History of Modern Europe 1789-1981, 7th Edition, H.L. Peacock (available at GAU library) The Pneguin History of the World, 3rd Edition, by J.M. Roberts (available at GAU library) Recommended Sources: Donald Kagan et al: A Political History of Europe, since 1814 by Charles Seignobos, S. M. Macvane, The Western Heritage, Brief Edition, 2003 Websites: The course focuses on European history from the early 17th century to the end of the Second World War. The following aspects of political history of five selected countries - France, Germany, Great Britain, Italy and Spain- are covered : early kingdoms, unification, nationalism movements, political philosophies, conferences, alliance systems and conflicts which had an impact on Europe during the 17th, 18th, 19th and 20th Centuries.Topics such as the Enlightenment, the French Revolution, the Concert of Europe, and the two world wars will also be discussed. Special emphasis will be placed on the relationship between the rise of liberalism and nationalism, the industrial revolution, and the emergence of modern political systems in Europe. Contents Introduction Chapter 1 Political history of France : Chapter 2 Political history of Germany: Chapter 3 Political history of Great Britain: Chapter 4 Political history of Italy: Chapter 5 Political history of Spain: Introduction In studying political history of European states, we put a focus on the beginning......

Words: 24910 - Pages: 100

Premium Essay

Customer Service

...that already exists. Imagine that customers sit on a spectrum, from indifferent on one side to advocates on the other. For indifferent customers, emphasize the value they receive over price and create specialized services addressing their specific needs. For customers who already feel fulfilled, you need to create emotional connections between them and the brand. For example, one Middle Eastern telecom operator has begun to create the brand connection by extending extraordinary discounts from third-party partners, such as theaters and car rental agencies. Meanwhile, committed customers should be encouraged to become members and participate in the customer community, as well as create “networking” opportunities. In another case, Victoria’s Secret has begun to build an extraordinary online community by providing members with the ability to upload photos and videos, share their product experiences, and discuss special A-list events they were invited to and attended together. Satisfaction and loyalty are important, but they’re old news. Forward-thinking companies will be the ones that identify and work with their customer advocates to genuinely build the brand, the customer base, and the bottom line. FEATURED COMMENT “It strikes me that there are certain products (like books, sports, or even fraternities) where the business itself is that of creating superfans. The brand itself IS the product.” — Zane 2 Creating a Customer-Centered Organization hbr.org insight......

Words: 18324 - Pages: 74

Free Essay

Spa & Wellness Industry

...widely used in the world’s traditional health systems and seem just as applicable to business. Accordingly, the book focuses on ‘planning’, ‘profit’, ‘product’, ‘planet’ and ‘people’. The “Planning” section outlines the historical and evolutionary development of spas along with current spa trends and benchmarks. “Profit” presents an outline of the business models and processes, accompanied by accounts of how spas have operationalised and been incorporated into luxury hotels. The “Product” section outlines the branding, product development, retailing, technological devices and marketing aspects of spa business. “Planet” addresses the designed and built environment along with environmental sustainability. And the “People” section focuses on leadership, recruitment and training, along with the ethical dimensions of corporate social responsibility and working with indigenous communities and traditional knowledge. ● ● vi http://www.nckvietnam.com Preface As editors, we would like to acknowledge and thank the chapter authors for their significant contribution of knowledge and time. These authors are all industry leaders in their own right who have helped to create the industry and who draw on countless years of collective experience. Prior to this, their expertise was available only to a select few – to members of their own organizations or via private industry reports and consultancy services. They have generously shared much of their proprietary knowledge and......

Words: 153860 - Pages: 616