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Jcpenney Strategic Audit

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Jcpenney Strategic Audit Strategic Audit Winter 2015 Bryan Burgoon Marcus Lew Yaying Chen Jonathan Luna John Paul Karas Roberto Morquecho Christine Kim Dan Nguyen History of JC Penney .................................................................................................................................................... 1 I. CURRENT SITUATION ................................................................................................................................... 1 Burning Strategic Issues Facing the Board ................................................................................................................ 1 JCP Debt ......................................................................................................................................................................... 1 Restoring Customer Relationships ................................................................................................................................. 2 Macy’s Lawsuit Over Martha Stewart ........................................................................................................................... 2 CEO Succession .............................................................................................................................................................. 3 No Clear Mission ............................................................................................................................................................ 4 Competitive Challenges ................................................................................................................................................ 4 Statewide Closure of Stores ............................................................................................................................................ 4 Ron Johnson’s Legacy .................................................................................................................................................... 5 What JCP Has in Store ................................................................................................................................................... 6 Financial Standing (vs. competitors) .......................................................................................................................... 7 Strategic Posture ......................................................................................................................................................... 11 II. CORPORATE GOVERNANCE: ................................................................................................................ 15 JCPenney Board of Directors ................................................................................................................................ 15 Analysis of the Board of Directors ........................................................................................................................... 21 JCPenney Executive Team ..................................................................................................................................... 23 Analysis of Executive Team ...................................................................................................................................... 26 III. EXTERNAL SCANNING: INDUSTRY ANALYSIS ................................................................................ 27 Societal Environment ................................................................................................................................................. 27 1. Economic ......................................................................................................................................................... 27 Improving Apparel Retail Market in the US ....................................................................................................... 27 Growing home remodeling market ...................................................................................................................... 27 Unemployment Rate ............................................................................................................................................. 28 Rising Labor Wages in the US…………………………………………………………………………….......28 2. Technological ...................................................................................................................................................... 29 Rising Popularity of Online Shopping ................................................................................................................. 29 3. Political-legal ................................................................................................................................................... 29 Macy’s Lawsuit .................................................................................................................................................... 29 Risks Related to Sourcing Merchandise from Foreign Countries ...................................................................... 30 4. Sociocultural ................................................................................................................................................... 30 Closing Stores in “bad” Malls ............................................................................................................................ 30 Revitalizing Highest Traffic Area ........................................................................................................................ 30 Task Environment: Porter’s Five Forces ................................................................................................................. 31 ii 1. Threat of New Entrants ..................................................................................................................................... 31 2. Bargaining Power of Buyers. ........................................................................................................................... 31 3. Threat of Substitutes ......................................................................................................................................... 31 4. Bargaining Power of Suppliers ........................................................................................................................ 32 5. Rivalry Among Competing Firms ........................................................................................................................ 32 6. Relative Power of Stakeholders ........................................................................................................................... 32 External Factor Analysis Table (EFAS) .................................................................................................................... 33 IV. INTERNAL SCANNING: ORGANIZATIONAL ANALYSIS ................................................................ 34 Business Model .................................................................................................................................................................. 34 Core Competencies ........................................................................................................................................................... 35 VRIO Analysis ................................................................................................................................................................... 35 Value-Chain Analysis ....................................................................................................................................................... 37 Primary Activities ............................................................................................................................................................... 37 Inbound Logistics ........................................................................................................................................................ 37 Operations .................................................................................................................................................................. 37 Outbound Logistics ..................................................................................................................................................... 38 Marketing and Sales ................................................................................................................................................... 38 Traditional Value-Chain Model .................................................................................................................................. 39 Secondary Activities .......................................................................................................................................................... 39 Infrastructure .............................................................................................................................................................. 39 Human Resources Management ................................................................................................................................. 39 Technology Management ............................................................................................................................................ 40 Procurement ............................................................................................................................................................... 40 Corporate Structure ........................................................................................................................................................
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