Management at J.C. Penney Company, Inc Research Paper

Management at J.C. Penney Company, Inc - Research Paper Example The company deals in conventional merchandise such as beds and beddings, home appliances and furniture, women and men’s clothing and baby layette, handbags and accessories, gifts, jewelry and watches (Carsky, 1994). JCPenney also leases its premises for departments such as portrait studios, optical centers, Seattle’s Best Coffee, Sephora, salons and jewelry repair. The fact that JCPenney has been around for more than a century definitely means that the organization has undergone several changes in its styles and approaches to management, as shall be seen in the ensuing discourse. One of the key changes that accompanied JCPenney’s management style has been the overlooking of its security of tenure which it has always extended to its management executives. Over time, JCPenney has always accorded its shareholders, employees and its directors a guarantee of uninterrupted period of at least two years. However, this trend was broken once after the appointment of Ron Johnson as the chief executive officer (CEO). Johnson had served Apple Store and was replacing Mike Ullman who is reputed for having run down JCPenney for seven uninterrupted years. However, when JCPenney saw that two years after Johnson’s absorption, the company was seriously plummeting in profits, sales and stock price, Johnson was dismissed (Slywotzky and Weissel, 2002). JCPenney has also reviewed its strategies to ward off the risks that it is facing and to lessen operational costs. For the first in its history, JCPenney intends to close 33 of its stores in 2014 and thereby joining McDonald’s Macy’s, Barnes & Noble and Family Dollar league. With the cost of operation having been attenuated, it is expected that the company will be able to use its plough back profits to reinvigorate itself. From a personal standpoint, JCPenney was not properly managed, though there is room for improvement. The proneness of JCPenney to mismanagement is illustrated by how fast the company has replaced

Recently economic issue about Wall Street Journal Essay

Recently economic issue about Wall Street Journal - Essay Example The country will highly need assistance from foreign countries in order to grow effectively. Apart from the challenges being posed by Europe and China, United States also face other economical crises such as decrease of commodity prices, the current instability in stock markets, and decline in demand and output in big developing markets such as Brazil. Another aspect affecting world’s economic status is the political tension in many countries resulting from the current Ebola virus outbreak (2). Although United States is the world’s economic growth engine, with many countries not performing may negatively affect the country’s economic growth. Another factor that affects the U.S. economic growth is the rigid economy that has being affected by years of uneven growth. According to estimates made by Goldman Sachs economists, tight conditions of financial market can shave approximately 0.3 percent from American’s economic growth before the end of next year. However, if the bonds and stocks’ weakness proves to be temporary, this hit would decrease by approximately half. The global financial crisis has resulted in a decrease in revenues of the big business organizations in the United States such as McDonald’s Corp. both the internal and external factors affecting the country’s economic growth have proved to be more severe and formidable than it was expected. The author of this article, Josh and Nick, try to discuss the global financial issues that are currently affecting the economy of the world. According to the content of the article, global economic crisis started to affect the world’s economy in the year 2008. The increase of global financial crisis, have resulted to decrease in world stock. In addition, big financial organizations are collapsing, and rich countries’ governments have started to come up with a rescue package that will aid in overcoming these crises. Some impacts of global financial issues