Q1
At the beginning of 2000s, online shopping significantly marked an increase in sales that lead to a decrease of J.C Penny. This is because, during this particular time, J.C Penny had not shifted its operations fully to the internet. Another factor that resulted in changing is when the company brought Apple’s staff Ron Johnson as the Chief Executive Officer in the year 2011. Johnson brought changes of long geld strategies and management practices that established a toxic environment in which the majority of workers feared losing their jobs (Kinicki and Williams, 2018, p.354). The following years’ Johnson would be expected to send over 20,000 workers home. One of the moves that he made was hiring top executives from Apple for which this was a good move for the company since they would clash with Penny’s culture. This is because their decisions failed to work effectively with the existing workers. He was fired in the year 2013 because of the company’s financial position started being under critical status, and the company brought Myron Ullman on board (Kinicki and Williams, 2018, p.354). He became an interim CEO, where he was expected to bring the company back to its culture that it was known for and to contend with all the long-lasting debt.
Q2
Ensuring ready change for the company is a significant move. For this case, Marvin and Myron organized meeting with over sixty workers in the town hall. They visited over 100 company’s stores and made world trips to visit various vendors and partners to learn about the resources the business had such as manufacturers among others (Kinicki and Williams, 2018, p.355). This move had a very significant impact since it assisted the new management understanding the company’s culture. The company integrated various operations in which online shopping and store pickup were made more convenience to customers. This created an EBITDA goal worth over 1.2 billion which facilitated the establishment of various strategies and plans mastering the company’s performance.
Reference
Kinicki, A., & Williams, B. K. (2018). Management: A Practical Introduction (8th ed.). Pages 334- 355. New York, NY: McGraw-Hill Education.