Strategic Choice and Evaluation
JCPenney Strategic Choice and Evaluation
A new sales strategy was adopted by JCPenney to regain momentum out of its declining revenue. The company’s goal was to set competitive prices while maintaining customer satisfaction through efficient means. They did this by making a strategic plan of lower prices as seasoned throughout the year, by selecting a group and setting products for that specific group. After considering a generic strategy, the organization also focused on its main strategy and relates it to the organization’s long term plan. This work illustrates how the company identified its best value discipline, how it formulated its generic strategy in relation to its grand strategy, and how these strategies were to be implemented.
Identify the Best Value Discipline
The very foundation of every successful company can be one of the three important concepts of value discipline. These concepts are operational excellence, product leadership, and customer intimacy (Horwath, 2006). In operational excellence, the company is devoted to provide the clients with the best value products (Horwath, 2006). In customer intimacy, the company is devoted to provide specific clients with their specific requests thus promoting individual contentment. In product leadership, the company is devoted to provide its clients with the endless supply of trendy items and services (Pearce & Robinson, 2011).
The latest program of JCPenney aimed to earn client’s trust and provide product segregation through its pricing strategy. In 2011, the company introduced the two latest member of its board. The organization validated this information by releasing the statement that these two new directors have the same enthusiasm as those of the current members and that enthusiasm is to achieve success for the entity (jcp.com, 2012). JCPenney’s method is oriented towards the creation of valuable products at the least cost