JC Penny Mission Statement Analysis

1438 Words6 Pages
Mahamadou Keita BMGT 495 Date: 11/07/2015 Professor: Sanh Tran Analysis of Mission and Vision Statements of JC Penny’s Strategic Direction Part 1 JC Penny is one of the biggest American department stores, with its headquarters originally based in Texas. It sells different types of clothes for children, women and men. Its mission statement is “work and win together to achieve superior performance”. Salient characteristics of the mission statement Company mission statement elements Recommendations  It should be broad in its scope  One of the company mission statement elements that is related to the article is that it makes the readers take action once they read it.  The mission statement should be improved by…show more content…
Moreover, it would be essential for the mission statement to be changed so that it generates a number of workable strategic alternatives, because it does not provide alternative strategies  it motivates readers to action and creates an emotional connection  It provides positive feelings  it creates an impression that the company is successful and heading to the right direction  JC Penny mission statement has an element of showing future growth prospect as it encourages employees to be more productive and perform at their best to win more clients.  It provides criteria that can be beneficial in making a decision  A mission statement should show future growth prospects Part 2 Company Strategies It is very important to understand that JC Penny has been using a number of strategies with the soul goal of gaining competitive advantage. We all know that a pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others; well, this same pricing strategy is one of the frequently used strategies by JC Penny. The reason it is used this much frequently is because they are trying to gain cost leadership in the market by appearing like it is…show more content…
For instance, it has products that targets children, women and men individually. The segmentation strategy has been their best strategy to help the company achieve its mission statement. Moreover, the firm has employed HR strategy that is why it always tries to use its human assets to a maximum level so that it increase its sales and market share. Corporate Level Strategies: The corporate level strategies tend to cover the strategic direction of the firm. JCPenny has employed a number of corporate level strategies aimed at providing the direction that the firm should take in the future. One of the strategies employed at corporate level is the cost leadership strategy. In this case, the company usually offered high quality products as well as services at lower prices with an objective of controlling the market(Freeman, 2010). The strategy is aimed at increasing the number of sales, by encouraging customers of the firm to visit it premises and make purchases of high quality products at lower prices. On the other hand, the firm uses the marketing approach of targeting the mass

More about JC Penny Mission Statement Analysis

Open Document