... Macy’s Inc. new strategy is to tailor merchandise more to local tastes. From this aspect, Macy’s management can make use of information system to achieve its strategy since information technology plays a critical role in helping organizations perceive environmental change and in helping organizations act on their environment and information systems as the “lens” of the firm, observing external factors and filtering information back in to the firm. First, in the economic impacts, IT affects the cost and quality of information and changes economics of information. Thus, information system helps Macy’s Inc., contract in size because it can reduce transaction costs, which are the cost of participating in markets. In addition, IT also can reduce internal management costs, since Macy operates approximately 800 department stores in US and it also should do a totally new change in its local tastes in each individual stores, which also require a greater number of employees and then the overall management costs also increase. Therefore, IT, by reducing the costs of acquiring and analyzing information, permits Macy to reduce agency costs. Second, the Internet increases the accessibility, storage, and distribution of information and knowledge for Macy. Third, using information systems to enable a specific market focus and serve this narrow target market for Macy. In addition, Macy can be beneficial from using information systems, because these systems enable Macy to analyze customer...
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...INTRODUCTION: In 1858 a small, but adequate dry goods store opened on the corner of 14th street and 6th Avenue in New York City, which is known today as Macy and is one of the largest retailers in the world. Rowland Hussey Macy had been through a lot of trial and errors until 1877 that R.H. Macy Co had become a full pledged department store. (macysinc.com) Macys is also well-known for several firsts that changed in the trade industry like the first to introduce such products as the tea bag, the Idaho baked potato and colored bath towels. Also it was the first retailer to hold a New York City liquor license. In 1924, Macys Herald Square became the “Worlds Largest store.” Then by 1918 RH Macy Co was generating $36 million in annual sales. Then in 1922 they went public and began to open regional stores and take over competing retailers. In 1929, Macys Inc. was founded as a holding company for various department operations. As of September 2006, with the conversion of stores acquired from the Macy Department Stores Company. It serves now customers through approximately 800 stores in virtually every major geographic market in the United States, as well as the macys.com website. MARKETING MIX Missing appropriate terminology in this section. User terminology we are currently covering. PRODUCT: Terminology? * provide a wide array of apparel for men, women and kids * provide goods for the home * provides beauty, hair, fragrances and cosmetics for men and...
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...Management & Leadership: Macy’s Shaniece Roberts MGT/330 June 18, 2012 Jo Hogg Management & Leadership: Macy’s Before beginning, a little introduction to the company is in order. In 1858, Macy’s was born, meaning 153 years of running. Macy’s is one of America’s iconic retailing brand and department stores. The department store has about 800 stores open throughout the United States as well as a website. Macy’s management states, “Macy’s offers powerful assortments and the best brands, tailored to each and every customer with obvious value, engaging service and unforgettable moments,”(Macy’s Inc, n.d.). Macy’s is sure to embrace the consumers and do the utmost to let the consumer have an extraordinary shopping experience. The department store constructs events such as the Macy’s Thanksgiving Day Parade, Fourth of July Fireworks, flower shows, fashion extravaganzas, celebrity appearances, cooking demonstrations, and decorations and traditions for holidays. The events held create a better relationship between the consumer and Macy’s. Macy’s provides the consumer with exclusive brands. The brands are unique and interesting with the possibility of not finding elsewhere. The staff interacts with the consumers personally in the department stores, the website, and even on mobile devices providing advice and options in fashion and home. The façade of Macy’s is revealed through television shows and advertisements, style magazines, movies, blogs, and more...
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...holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths * Market position * Business operations * ecommerce | Weaknesses * Legal issues * Geographic concentration | Opportunities * Business expansion * Expanded product lines * mergers | Threats * Competition * Regulations * Economic conditions | Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and future galleries in over forty states of the country while the Bloomingdale’s brand involves over forty departmental stores and home appliances stores in more than twelve states. The company’s stocks are listed in the New York Stock Exchange under...
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...holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths * Market position * Business operations * ecommerce | Weaknesses * Legal issues * Geographic concentration | Opportunities * Business expansion * Expanded product lines * mergers | Threats * Competition * Regulations * Economic conditions | Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and future galleries in over forty states of the country while the Bloomingdale’s brand involves over forty departmental stores and home appliances stores in more than twelve states. The company’s stocks are listed in the New York Stock Exchange under...
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...Macys Macy’s is a very successful retail corporation. Part of the reason for their great success in the industry is their corporate management’s vision, philosophy, and strategy for the organization. Without the endeavoring scope of management, Macy’s would not be in the position they are today. The corporate vision for Macy’s, Inc. is “a premier national retailer with iconic brands that each operate a multichannel business involving outstanding stores and dynamic online sites. While Macy’s and Bloomingdale’s are known worldwide, each has its own unique identity, brand strategy, customer focus and business strategy” (Macy’s Inc, 2010). Macy’s philosophy is customer based. Macy’s recognizes that the customer is the principal and all actions and strategies of the company should be directed and favor them. Macy’s creates competitive advantage through their superior implementation of customer-centric strategies. Within these customer-centric strategies, they focus on having open and honest communications with employees, shareholders, vendors, customers, analysts, and news media (Macy’s Inc, 2010). The corporate objectives of Macy’s Inc include: growing sales, continuing to increase the company’s profitability levels (earnings before interest, taxes, depreciation and amortization) as a percent of sales, improve return on invested capital, and maximize total shareholder return (Macy’s Inc, 2010). The four major strategic focuses of corporate...
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...Stacy Bradford Management Fundamentals MGM255-1202B-05 Phase 3 – Task 2-IP Macy’s Strategic Plan Richard Hilliard June 18, 2012 Executive Summary Macy’s is the nationally recognized brand of the Federated Department Store Cooperation. The organization consists of over 850 departments stores from coast to coast and online throughout the United States. In this paper we will look at the company’s strategic plan for success, its mission, its vision, its organizational structure, and what’s working and what’s not. In addition, we will examine the strategies and initiatives that have helped Macy’s to continuously grow and remain competitive over the past 150 years. Mission Statement "Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers. " Vision Statement "Our vision is to operate Macy's and Bloomingdale's as dynamic national brands while focusing on the customer offering in each store location." In just a few words, the above referenced statements convey Macy’s purpose and why it exists. Macy’s commitment to sharing the company’s mission and vision with the employees has kept the entire company moving forward in the face of difficulties, enabling and inspiring leaders and employees alike. Moving toward...
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...billion US dollars and holds second position while Kohl’s Corporation has over sixteen billion US dollars market capital holding first position in the markets (NYSE:M, 2011). SWOT Analysis SWOT Matrix Strengths • Market position • Business operations • ecommerce Weaknesses • Legal issues • Geographic concentration Opportunities • Business expansion • Expanded product lines • mergers Threats • Competition • Regulations • Economic conditions Strengths Macy’s Inc. is among the largest retail outlets operating in the United States that deals in the diverse range of products like apparel, households, jewelry etc. The company earned over twenty million US dollars for the year 2010 from its business divisions. The brand name Macy offers over eight hundred departmental stores and future galleries in over forty states of the country while the Bloomingdale’s brand involves over forty departmental stores and home appliances stores in more than twelve states. The company’s stocks are listed in the New York Stock...
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...------------------------------------------------- table of CONTENTS EXECUTUVE SUMMARY Since the first opening in 1858 in New York the “world’s largest store” became iconic for the department store industry. From the beginning Macy's Inc. stated its mission to satisfy a consumer as a paramount and recognized that all actions and strategies must be directed toward providing a localized merchandise offering and superior shopping experience. Organization has been following that principal for over a decade and today Macy’s targeting consumers through dynamic department stores and online sites. Main issue Advancing e-commerce and internet technologies cause recent declines in sales in the entire industry. Online retailers offer more convenient and fast shopping on the internet directly from your personal computer or smartphone. Along with efficiency online retailers striking department stores with lower prices and easy shipping. Trends became so effective that consumers rapidly shifting towards online retail channels leaving department store business with a need to create an effective strategy to overcome threats and insure their future in the industry. Strategy Recommendations Department stores such as Macy's and its main competitors Sears, JCPenney, and Dillard's operate as an upscale...
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...Problem: Customer Service over the phone and within the store front. Employees need to be visible and provide more customer service. Customer service is very vital and it goes a long way. Macy’s has great vendors and partnerships and there is quality within those 2 important factors. However, the customer service factor overall is lacking and it falls short. Great customer service brings customers back for more. Recommended Direction to Implement/Quality Management: The recommended direction is to revamp their customer service techniques and strategies. Starting with upper management and working the system all the way down, keeps everything in perspective with the support of upper management. Macy’s employees will also need to see this change being supported by upper management. We perceive change by seeing in order to support and believing. Changing with the times keeps organizations above water; with changes new approaches and strategies must be evaluated and implemented. In the retail industry, organizations who are consistent and lead take risks however they set a forecast report. This report gives them a heads up on planning for the next season and what decision needs to be made to keep their organization relevant. This course paper will show you how Macy’s is a steady leader within the retail industry, how they are consistent as a company, how they build their partnership, quality in their venders, along with a SWOT analysis. This paper will also will bring enlightenment...
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...values, behaviors, expectations, experiences, and philosophy. The main idea of organizational culture is what behavior and values contribute to the organization’s social and psychological environment. Organizational culture is also known as corporate culture and is shown by how the organization treats its employees, customers, and the community. It also is shown through the way the company conducts business. Organizational culture success can be measured by a company’s productivity and performance. Successful organizational culture provides guidelines for service, product quality, and safety. Success can also be seen through attendance and punctuality of employees. Every organization has a unique culture, and if that culture is not successful, it is hard to change ("Organizational Culture", 2015). Macy’s: The Company Macy’s was founded by Rowland Hussey Macy in 1859 and was nothing but a single dry goods store in New York City. Over the years, Macy’s has grown to be one of the nation’s top retailers in fashion and affordable luxury. Macy’s attributes its success to its employees. Macy’s has many successes including; being the first retail store to promote a female into an executive position and starting the Macy’s Thanksgiving Day Parade. The parade was organized by immigrant workers at Macys in 1924 to celebrate their new American heritage. Macy’s is devoted to serving the community and embracing diversity ("Macy's ", 2015). Raising Awareness Macy’s believes that their...
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...Clear Quest and RequisitePro). 0 Extensive experience with Retail e-Commerce, Healthcare and Banking applications experience in Quality Assurance, with solid expertise in testing software applications on Microsoft, java platforms using Manual and Automation tools - Mercury Tools (Win Runner, QTP, Quality Center, Test Director and Load Runner), IBM Rational Tools (Rational Clear Quest, Rational Clear Case) for Client Server and Web based applications. 1 Proficient in Analyzing System & Functional Specifications, Use Cases, Business Requirements, Business Rules to Identify Test Requirements, track the requirements (Bi-Directional traceability matrix) 2 Prepared Test Plans, Risk Management plans (Risk based Testing), Testing Strategy, Documenting the Testing Procedures, Design Test Cases, Test Scripts, Test Scenarios, Test Data, and Execute Test Runs. 3 Experience working under Waterfall and Agile Methodologies. 4 Have extensive experience in Windows, UNIX – examining log files, developing and executing batch, shell scripts. 5 Have experience in new, enhancement and maintenance projects. 6 Have good Experience on mainframes Application testing 7 Have good experience on processing the Claims (Entering and verifying). 8 Have experience in black box and white box testing. 9 Excellent Communication, Leadership and Interpersonal skills with clear understanding of business logic. 10 Excellent analytical, problem-solving and documentation...
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...linking their financial interests. These pioneers recognized the immense opportunity that lay before them and on November 25, 1929, Federated Department Stores was incorporated as a revolutionary new company in American retail. Today Macys, Inc. has corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2010 sales of $25 billion. The Macy's brand includes about 810 Macy's department stores and furniture galleries in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com. Macy's, Inc.'s diverse workforce includes approximately 166,000 employees.” (Macys, Inc., 2011) Implementation and Objective Leadership make decisions every day to the business operations of how a business is to function or be ran, Macy’s Inc. is no exception to this. Macy’s Inc.’s vision is to be a premier national Omni channel retailer with iconic brands that each operates outstanding stores and dynamic online sites. Both Macy's and Bloomingdale's are known worldwide, and each has its own unique identity and customer focus. This success has been maintained for over 80 years but with new times comes a need for change. Thus to ensure that Macy’s Inc. continues to grow and strive they need to have a strategy in place to ensure complete success, this is an implementation plan. An implementation plan is a plan that starts with primary decision makers of a...
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...Company G 3-Year Marketing Plan Assessment Code: MKT-VZT Student Name: xxx Student ID:xxx Date: 12/09/2014 Blend and Go Blend and Go Mentor Name: xxx Table of Contents Introduction 3 Mission Statement 3 The Product 3 Consumer Product Classification 3 Target Market 4 Competitive Situation Analysis 4 Analysis of Competition using Porter’s 5 Forces Model 4 SWOT Analysis 5 Strengths 5 Weaknesses 6 Opportunities 6 Threats 7 Market Objectives 7 Product Objective 7 Price Objective 7 Place Objective 7 Promotion Objective 7 Marketing Strategies 7 Product Strategies 8 Price Strategies 8 Place Strategies 8 Promotion Strategies 9 Tactics and Action Plan 9 Product Action Plan 9 Price Action Plan 9 Place Action Plan 10 Promotion Action Plan 10 Monitoring Procedures 10 Introduction Company G is a reputable electronics company that is well established. It has high research and development standards with extensive testing on products before release. Company G also boasts great relationships with suppliers and retailers. I am excited to announce the introduction of Company G’s first foray into the small electronics market with the Blend and Go, a revolutionary household blender that enables consumers to blend and go! Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronic solutions.” The Product Company G’s Blend and Go is a dynamic...
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...Company’s Profiles Team D Latoya Edwards, Milton Franklin, Trina Peterson, & Jeanne Lynch ETH/316 December 10, 2013 Dalan Bayham There are many organizations and businesses that are involved in building up the community. Each organization and business contributes to the growth of or fall of a community. Individuals shop at companies, receive services from companies, and other things to interact with the organizations within the community. Because individuals depends on companies and organizations, it requires these companies organizations to have a certain responsibility to the community. These organizations have great involvement in the community. Some of this involvement is both seen and unseen. The things these organizations does influence the social responsibility and involvement in the community. These factors are shown in different ways depending upon the organization. Four different organizations that has a major involvement and responsibility in the communities in which they are present is the Marriott, Macy’s, the YMCA, and Wal-Mart. Marriott The Marriott is an organization that is known world-wide. Marriott involvement in the New Orleans community has been overwhelming. Marriott provide equal job opportunity to hundreds of employees within the community. Marriott have been supporting different causes such feeding the hungry, and provide shelter for everyone that is in need. Marriott believes in taking care of their employees especially in the time...
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