Analysis of Organization (JC Penny’s), Measurement and Control System

JC Penny’s management and top executives have decided and evaluated it’s all managerial affairs in such a manner that it may benefit the company to its full. It is no longer a company only based on its traditionalism or conventionalism. It is today a company running on the basis of modern fine lines of improving its businesses at any cost. Losing its profit or capital is out of the question in JC Penny’s Agenda. Like all of the other organizations, JC Penny’s is also using a performance, measurement, control system to help its organizational set up in improving its performance issues.

JC Penny’s every process of business operations is being dealt with through this system to improve its performance-related issues. All of the Heads, Management, Executives and C.E.Os are doing their level best to improve the trust level of its customers in their products/services so far. The management is keeping no stone unturned in its struggle to boost the feedback of customers on the highest level and give them no chance to have grievances or complaints against the products, its design, style, and presentation.

The world today is the world of competition where measurement, analysis, and control system must always need to be evaluated and adjudged by all the time to keep the performance of your company updated, high-standard and well-boosted .this practice is required almost on day to day basis or at least a weekly basis indeed. No one in management can avoid or ignore the updated modern standards to be followed in its letter and spirit. That is why; JC Penny is also following the international standards of trading boost ups in its trade to improve the quality and standards of its own organization.

The management of JC Penny’s is of the view that following the international standards and norms is really benefiting our profitability and credibility as a Standard Chain of Stores. The ground reality behind our recent decline was our traditionalism once. We have tried to come out of our conventional thought process and now we are well heading towards the international standards and tools which would surely take us higher in our trade as we would have a scientific approach to evaluate the things. We would keep on monitoring our weaknesses and strengths through the usage of modern tools indeed.

So, end of the day, the analysis, measurement, and control system is equally benefiting the JC Penny’s as it is benefiting the other Organizations in improving their profits and margins.

Current Financial Position of strategic audit of  jcpenney

JC Penny’s current financial position is quite critical as everybody in the U.S knows the fact that the JC Penny is losing its sales and business rapidly because of its conventional approach towards the business. According to the First Quarterly Report of the Fiscal Financial Year released by the JC Penny itself, its Net Loss for the quarter first was 154 million US Dollars. A comparable sale decreased was 5.5 for the first fiscal year quarter so far.

The executives of JC Penny were of the view that we are continuously trying to improve the design, style, and quality of our products to the level it attracts the most of our customers so that they may not leave us for the sake of some other attractions they witnessed in other stores of the country. We can simply provide all those facilities in our own outlets as well and our conventional customer would certainly like to come back to its place of origin without wasting a single moment of its life.

As all the outlets and companies, organizations and trade centers are focusing to improve their quality, service, standards, and designs in order to please and convince their customers to its full. We are also trying to focus on our productivity, quality, standardizing and re-packaging of our products/services in a manner that our regular/conventional customer may not leave us but gets pride in relating himself to our traditions and convention in all means.

Our focused and targeted approach is now putting and keeping its customers at the center of our attention. Our all management is striving and trying its level best to think like a customer and counter analyses if we were customers or buyers, what we would have required from our shop/company or organization that also in case we have been traditionally shopping and buying from a shop/store or company since long times and even our ancestors have kept telling us stories relating to that very outlet. In such a case what would have been our approach to look upon such company? In our concept and perception, what would have been there in the shop/store of our attention? What has been lacking in our traditional shop/company?

The fact of the matter is JC Penny today is like a sinking ship of its own kind due to its classical approach and traditional thinking that its goodwill and credibility are the sources that will make it winning all the time in all time zones. But that very approach was the factor which made it a big losing company as the inertia emerged in its foundation. The best of the best company is the one which keeps itself alive and reviving by all the time through over-hauling and self-analytic mechanisms. Self-analytic processes and self-assessing mechanisms are the key factors that never permit any company/organization or set-up to go in astray. Destruction and crises do occur the time when a company starts taking decisions of its own without assessing the very interest and pleasure of its people/customers. The real or smart management of certain company/organization would always launch and draw the policies which only benefit and please the interests of its customers.

Nowadays, the customers are very updated and smart because of the easy access and availability of all the tools which guide them to fin d best of the best from within the market. The customers now have access to international comparative markets. He has direct access to the markets he cannot visit even physically. Virtual access is a modern phenomenon that has changed the lives of all of us.

Use of Financial Tools in JC Penny

The use of Financial Tools is a modern phenomenon being used in the professional corporate industries to boost the present standard of its profitability. Profitability can never be improved in the present scenario without the prior scientific approach and input into it. Transformation of any business/company/organization to modern patterns is essential and compulsory in modern days. It enhances the level of present figures in any organization. All of the conventional and traditional modes of doing business are changed altogether. Nowadays, the tools are entirely different and updated to make our businesses run smoothly.

No business on the face of the earth can run without the use of modern tools in that very manner the way it is substantially required. JC Penny has also started exploring its business/organization by the prior use of techniques like E-Commerce, Supply Chain, Decision Support, Corporate FPSA, stores, and marketing. All of these sectors are going to be explored shortly through all means. These are the sectors that helped most of the businesses around the world in taking them to the heights of their success.

Success and profitability are the prior goals of all of the industries/companies/organizations and companies these days. They are hiring the best of the best staff/managerial HR, Executives to make their business heightened in all sectors in all means.

The above mentioned financial tools are being practiced now in JC Penny as well to further make progress in all of the fields of professional requirements. The marketing factor is also one of the most significant and essential factors of any organization which needs to be well-addressed in any promising organization.

The same is the case with JC Penny that is struggling to have great input of its new creative marketing team in order to further make progress in attaining the prior attention and care of its customers in all means and at any cost. JC Penny strongly believes that it will continuously ensure its process of improvement with respect to Data mining and reporting efficiencies.

Comparing JC Penny with Competitors & Standards

Like all other companies/organizations and Firms, JC Penny has got its rivals and competitors in the market which are continuously playing as a big threat to its clients, profitability, and credibility in sustaining its business. The real sustainable business is the one that can continuously compete and contain its rivals and competitors away from its business charm. Its business charm should never get faded to the level, it may over-shadowed or overcome by other companies.

JC Penny has always led the Stores industries in its region with all standards. But as the times changed, new rivals and competitors emerged in the Stores Industries of the country which brought with them the new insight and new approach to looking forward to the interests of its customers.

Wal Mart Chain of Stores emerged in the country with a new approach of attracting its customers with new designs, style, and quality. It introduced a new clothe lining for its valuable customers. It had simply started valuing its customers by attaining its attention through colorful spot-lights installed in its store's area. The vast parking area for vehicles was introduced by Wal Mart itself. They started introducing new patterns of commercialization in the company. Their tools were quite different from the one being followed and practiced in JC Penny’s stores.

The different approaches brought new and regular customers to Wal Mart stores so far. Kohl’s is also one of the major leading chain of stores emerging in all across the U.S. the customers are crazily running after the stores of Kohl’s as it is presenting novel designs and innovative products to all of its customers. Customers can never ever forget the companies which do care for their valuable customers. A customer is an utmost commitment for the heads of Kohl’s Stores who are providing promotional products for the necessities’ of its customers.

For instance, they are using tools as “buy one shirt get one free” which is working for them. This really is working as the biggest attraction factor for most of its store customers. So a lot more efforts are being done to please its customers to its full. Stores of them are keeping no stone unturned for the success and glory of their company. All of the above acts are making them all a big success story in their respective field indeed.

The best of all stores industries which have become a big threat for the JC Penny is Macy’s chain of stores that has emerged as one of the biggest chains of stores all across the states of the U.S.

Global Considerations of strategic audit of  jcpenney

The global scenario is also an ever-changing factor for any business. The same is the case going on for the industry of departmental stores (Huglen, 2016). Departmental stores have been traditionally doing great in all of the U.S for a long time. But now the standards and requirements are getting changed in all across the world. The same is the case with the stores of U.S industries  (Brooten, 2012).

List of The Key Performance Indicators in JC Penny’s Case

KPIs are normally used to measure up the level of performance geared up in any organization/company. JC Penny is one of the finest and conventional chains of stores with a prior background with it is trying to improve its performance in all across the U.S by the frequent use of some standardized K.P.Is which can benefit it to its full. It can never ignore the demand and supply system and cannot ever ignore the factor of assessing demand and supply in its letter and spirit.

The first and foremost standard of KPI its following is to re-visit its procedure of Inventory. The inventory must be maintained on modern fine lines as being maintained and arranged in the modern industries/companies so far.

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