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Technology does affect how JC Penney and other retail stores do their business. For example, with the new invention of cellphones, now managers must find ways to prevent their employees from using their devices while they are working. Using technology effectively can increase profits and revenues instead of harming the company. All of the companies must adapt to technology to increase and improve their customer service, speed the transactions, and effectively compete against other online stores. The internet allows customers to buy and search things online. JC Penney must have their company connected with the internet to attract more customers. Social media allows JC Penney to promote their services and products, stay involved with the community,
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
I chose to prepare a SWOT analysis on Wal-Mart. On July 2, 1962 Sam Walton opened the first Wal-Mart store in Rogers, Arkansas. Wal-Mart employs a detailed system of data technology that supports its local as well as international operations. Through this system, it is possible to supervise the achievement of its stores, on a real time basis. It also supports Wal-Mart’s economical procurement. Wal-Mart also uses the most up to date technologies available to maintain and manage its local and global logistics operations, by coordinating technology into its core operations. Wal-Mart is able to conquer the tough competition as well as accommodating its large market productively. Wal-Mart is the second largest retail company in the world. It is a billion dollar company with loyal customers and competitive prices that are lower than other competitors. The company receives a great discount from their supplier due to ordering products in bulk. Wal-Mart has an extensive customer
J.C. Penney Corporation, Inc., is an American retail company, founded in April 14, 1902 by James Cash Penney. After graduating from high school, Penney worked for a local retailer. Later, using money from savings and a loan, Penney joined the partnership with Ron Johnson and Tom Callahan, and he moved with his wife and newborn son to Kemmerer, Wyoming, to start his own store. Subsequently, Callahan and Johnson dissolved their partnership in 1907 with Penney. James Cash Penney continued to benefit the growth and success of his business. J.C. Penney and this very day occupied in marketing apparel, jewelry, cosmetics, home furnishings, and cookware. Besides to selling prevailing merchandise, JCPenney stores many times house a number of leased
How has the use of technology changed its interaction with its suppliers? Wholesalers? Other business partners?
My company of choice for this report is Macy 's. 'The Magic of Macy 's ', as the company advertises it, has inspired me to shop there, take advantage of their incomparable discounts and great online shopping experience. Macy 's, Inc. is one of the largest department store chains in the United States of America. Macy 's manages stores under the Macy 's and Bloomingdale 's brands. I enjoy shopping at both of the company 's store brands, Macy 's and Bloomingdales. Bloomingdales provides a more personalized experience
In the robust business industry today, rivalries are prominent. Each company tailors themselves to be the best. Shaping their products, their stores, all to be better. To beat the rest. Department stores often get overlooked for rivalries. They are not as broadcasted as Nike and Adidas, or McDonalds and Burger King. But J.C. Penney’s and Sears, are both as vicious.
By the 1980s, just before the rise of Wal-Mart, Kmart had become complacent. It believed it would be the king of discount retailing, now and forever. It didn't perform an accurate SWOT analysis, but to be fair, who could have seen the rise of Wal-Mart to the position of the world's number-one retailer? Still, as Wal-Mart built new stores in town after town, supported by cutthroat pricing and solid logistics, Kmart's complacency would cost them. Part of the problem was that as Wal-Mart was pouring money into information technology (IT), Kmart's IT budget continued to shrink – not just once, but several years in a row. While Wal-Mart's logistics and supply chain management got sharper, Kmart's stagnated. And while Wal-Mart was able to squeeze more value out of its stores and its systems, Kmart lost ground. By the time Kmart had finally decided to start devoting more resources to IT, it was so far behind Wal-Mart that catching up would have been a near-impossible task without the recession in the early part of this decade. With the effects of the recession taken into account, Kmart instead was consigned to also-ran status among discount retailers.
Society constantly tries to make everyday life quicker and easier through technology. Today, an American can simply go to an app of their choosing that can either allow them to tasks such as request a quick ride to avoid being late for work, purchase a gift for grandma for her upcoming birthday, and even pay this month’s rent with just a push of a button. Therefore, industries relating to taxis, retail industry, and real estate are enduring the digital disruption that has arose from the mere fact that they can not meet the demands that technology so easily gives Americans. Nevertheless, there is bound to be another industry that is in technology’s black book. I believe that the next industry that technology is going to cross off it’s list is
Another reason technology has been an advantage in the economic world is because of the technology of sales. This means that with all the new and improved technology, it is easier to get things like online webcites online. Then, with all the new and improved technology, like iPhones, Androids, Macs,...
Another goal is to act like an automated sales force, tracking the customer’s account history for repeated sales then come up with suggestions. Lastly, the heavy use of technology will keep the customer up to date on things such as inventory and tracking information. Technology will also manage growth and demand, especially with seasonal products, like Christmas. By doing so, firms are able to get a transparent forecast of projected sales for certain items.
The three main benefits of technology are a higher quality of the product or service, and the saving of money and time. For businesses to increase the sales and be able to keep a high quality in the goods and services, they have to compete against other companies by having the latest technology with the best prices. To achieve it, most of the times companies decide to outsource their production that permits them to use more affordable materials and labor.
Another good use for technology is extra jobs. People can easily get online and put applications in. This is good in case they’re not physically able to get to the place they want to apply for. If they’re able to get to the place and put a good impression in on the boss, they can just search for jobs online then go in and put an application in.
...Customers are buying online because they have more choices and buying power. With online tracking systems, they can track their orders, and have an idea when their goods expected delivery. With new technologies, companies can monitor their people, supply chain, and goods. New logistics technology may also reduce waste, operational cost, track inventory and improve operations.
Today there are no limitations to what technology can do to change the way we do Business. From online malls like(http://www.mall.com) to sites likeE-Bay technology has changed the way we do business. What we can conceive we can achieve. What is coming up next might impact our ways of doing business but the major impact, the major changes have began and what will lead now will be enhancing those changes. We have discussed many ways that technology has impacted our businesses.
Information technology is infiltrating all aspects of business, both large and small. Without it, a company will not be able to keep up with their competition. On the flip side of this theory however is the fact that information technology is cheap, therefore everyone had access to it. This in turn allows all the competition to have the same edge. This may work for a smaller company that has a good marketing campaign. Larger companies have always been able to succeed in the competitive market due to their ability to gain a foothold in the stock market and obtain funding that a smaller company may not be able to do. The ability to advertise allows these smaller organizations to become more lucrative simply by being recognized. A retail company that is willing to ship their products globally is in a position to increase their sales exponentially.