The Value Chain Of Nordstroms Inc - 1284 Words

Introduction Value chain is the ability to take a product and add some value along the way to make it appealing to the customers in such a way that they be willing to buy the product at a certain price. Many companies in today’s business world analyze their value chains to identify the ways which continue to attract their customers. The value chain analysis consist of two parts, primary activities and secondary activities. The first ones support the actual physical process of buying, manufacturing, shipping and selling the product and the secondary activities are actions that support the process, such as procurement, technical support and human resource management. The value chain is one of the critical elements of a company’s strategy in today’s competitive world, because company’s profit depends on how the successful and efficient it runs its operations and how the end product appeals to the customers at a price that covers all the expenses of the co mpany. Nordstrom’s Value Chain Nordstrom’s Inc. is one of the upscale fashion retailers in the United States that competes with other high end stores, such as Saks, Neiman Marcus, Bloomingdale and Macy’s. In order to differentiate itself from its competitors, the company must carefully follow its value chain design, because it is the only concept that allows Nordstrom to stay unique among the other retailers. Most of the company’s competitors buy products from the same or similar vendors and have creatively designedShow MoreRelatedThe Value Chain Of Nordstrom s Inc888 Words   |  4 PagesIntroduction Value chain is the ability to take a product and add some value along the way to make it to appeal to the customers in such a way that they be willing to buy the product and pay the asking price. Many companies in today’s business world analyze their value chains to identify the ways which continue to attract their customers. The value chain analysis consist of two parts, primary activities and secondary activities. The first ones support the actual physical process of buying, manufacturingRead MoreBusiness Line Model Of Nordstrom2014 Words   |  9 Pageswear and cafes (Nordstrom Inc, n.d). Operating in multi retail categories gives consumers an incentive to shop at their shop, over the competitors because the consumer can satisfy all their specific needs and wants in one store instead of having to visit several. The divergent product line also broadens Nordstrom s target market by offering different products that attract new market segments and reach the different demog raphic and purchasing needs of each consumer. Nordstrom’s wide product range helpedRead MoreBusiness Analysis : Nordstrom, Inc.2405 Words   |  10 PagesINTRODUCTION The company I chose to explore is Nordstrom, Inc. I always enjoyed being fashionable and stylish so this specific company works well with something I love to do often. I also shop at this particular store quite frequently. I would like to focus on how Nordstrom, Inc. should consider expanding into Europe. I have been to Europe a couple of times including studying abroad and I’ve noticed that all the major European cities have their fair share of upscale and high-end retail stores.Read MoreJ. Penney Corporation Inc.970 Words   |  4 PagesCompany Overview: J. C. Penney Corporation, Inc, also known as JCPenney, is a chain of American department stores specializing in selling affordable clothing, shoes, accessories, and home decor for the entire family. For more than a century, JCPenney has been a regular shopping destination and a dependable retailer for the American family. In 1902, the department store was founded by James Cash Penney and was established on the principle of the Golden Rule. Over the years, the company has developedRead MoreBusiness Case Study : Nordstrom, Inc.1723 Words   |  7 PagesIntroduction Nordstrom, Inc is one of the largest upscale apparel and shoe retailer’s in the United States. John W. Nordstrom started the company in 1901 as Wallin Nordstrom, which was a small shoe store located in downtown Seattle, WA. By 1960, the shoe company was the largest independent shoe chain in the nation. Nordstrom then ventured into women’s apparel and in 1971 the company rebranded itself to Nordstrom, Inc. and became a publicly traded company. (nordstrom.com) Today, an executive teamRead MoreMarketing Strategy : Target Markets And The Marking Mix874 Words   |  4 Pagesthe same as their competitors. Different types of organizations develop different types of strategies for success. For example, Nordstrom is a type of company that has different products, policies, and designs than other retail stores. â€Å"Nordstrom, Inc. is a leading fashion specialty retailer offering compelling clothing, shoes and accessories for men, women and children. Since 1901, we ve been committed to providing our customers with the best possible service—and to improving it every day.† (AboutRead MoreNordstrom Human Resource Paper5437 Words   |  22 PagesNordstrom Nordstrom’s employees and management are the company’s most valuable resource. An article written in the Seattle PI describes exactly why this is true. It states that, â€Å"Nordstrom salespeople make decisions as if managing their own business; they are trusted to do what is right. Everyone else in the company is there to help the sales staff make the sale and please the customer† (Mulady, 2009). The way the employees are treated and valued is a perfect portrayal of the company’s missionRead MoreNordstrom Financial Statement Analysis3814 Words   |  16 PagesNORDSTROM (JWN) I. Nordstrom’s overview Nordstrom is classified as an Upscale Independent Department Store Chain and is noted as one of the largest department stores of its type. Nordstrom is founded in 1901 by two partners, John W. Nordstrom and Carl F. Wallin. It’s headquarter is in Seattle, Washington area. Nordstrom carries a wide variety of merchandise and specialty goods, which includes apparel, shoes, jewelry, cosmetics, fragrances, handbags, accessories, and in some locations, homeRead MoreReal Men Drink Coke4842 Words   |  20 Pages TerraCycle’s organic plant food hit the shelves in 2004 with labels boasting that it â€Å"Contains Liquefied Worm Poop!† It didn’t take long for the products to take off. By 2006, the company had been named â€Å"The Coolest Little Start-Up in America† by Inc. magazine and had passed the $1 million mark in sales, growing as much as 300% from the previous year. They snagged shelf space in retail giants such as Target, Walmart, and Home Depot. Founder and president Tom Szaky liked to refer to his companyRead MoreLululemon Case Essay examples8018 Words   |  33 PagesConfirming Pages CASE 6 lululemon athletica, Inc. Arthur A. Thompson The University of Alabama I n early 2012, investor interest in lululemon athletica— a designer and retailer of high-end, yoga-inspired athletic apparel under the lululemon athletica and ivivva athletica brand names—was surging. Over the past 30 months, growing numbers of female shoppers were patronizing the company’s stores to pay premium prices for lululemon-branded items that offered performance, fit, and comfort and were

Effects Of The Great Depression - 1329 Words

Del pozo 1 Zackery Del Pozo Mrs.Kent English 8 3/12/2015 The Effects of the Great Depression The Great Depression, the worst economic recession in US history. In October 1929 the U.S. stock market crashed. This event is commonly referred to as the beginning of the Depression. The stock market crashed in New York causing the rest of America to fall. It was not just one factor, but a combination of domestic and worldwide conditions that led to the Great Depression. There are many theories of what caused the Great Depression, however, they are not all agreed upon. This paper is about how the Great Depression occurred, what the Great Depression is, how it affected people, jobs, businesses, the President during the Great Depression, World War II, and how the Great Depression ended on October 18th the stock market began to crash. Panic started to set in as bankers attempted to stabilize the market. However the market went into freefall and on October 29th stock prices collapsed completely. The consumer spending dropped and stores began to pile up on excess goods, which slowed production. Billions of dollars were lost, wiping out thousands of investors, and stock tinkers ran hours behind because the machinery could not handle the volume of trading. After October 29th stock prices continued to drop as the United States collapsed into the Great Depression. Not only the stock market had been affected. Nearly seven hundred banks Del pozo 2 failed in 1929 and about 2,300 failed over theShow MoreRelatedThe Great Depression And Its Effects1166 Words   |  5 Pages The Great Depression The Great Depression is one of the single most important events in the financial history of the United States and the world; the effects of and leading to the Great Depression lasted for several years (Shindo). The great depression was a very difficult time in the time that it occurred. It hit people hard and left an everlasting memory (Shindo.) It would lead to a lot of devastating events better all over would feel the affect of this crisis. It was a very unexpected and suddenRead MoreThe Great Depression And Its Effects1011 Words   |  5 Pages The Great Depression was a ten year, economic downward spiral in the U.S that spanned from 1929- 1939. The cause of the Great Depression was the fault of several contributing factors. First was the stock market crash that occurred on black Tuesday of October 1929. This was the major cause because stock holders lost more than 40 billion dollars, and although it regained some of its losses, by end of 1930 truly entered the Great depression. Stock prices reached a permanent plateau. 2 out of everyRead MoreThe Effect Of The Great Depression Essay1500 Words   |  6 PagesThere is much debate as to what caused the Great Depression. There was certainly the short-term trigger of the Stock Market Crash of 1929, but there are also long-term causes that manifested itself during the 1920’s. Whether it is the shift from coal to electricity that negatively affected those invested with the old technology, or a shift more to trucks and cars to transport goods instead of railroads, or perhaps that farmers were losing their farms because over over-investment during the lateRead MoreThe Grea t Depression And Its Effects2007 Words   |  9 Pagesâ€Å"My parents survived the Great Depression and brought me up to live within my means, save some for tomorrow, share and don t be greedy, work hard for the necessities in life knowing that money does not make you better or more important than anyone else. So, extravagance has been bred out of my DNA.† This quote from a child who was born and raised during the Great Depression is telling us something that used to be true to nearly everybody and is not as true as it should be today. This is an ideaRead MoreThe Effects Of The Great Depression4304 Words   |  18 PagesPaper 2: The effects of the Great Depression By: Christa Dorvil Paper 2: The effects of the Great Depression By: Christa Dorvil Modern World History Instructed by Dr. Stephanie Laffer Miami International University of Art and Design Abstract Never had the flaws of capitalism been so evident or as devastating as during the decade that followed the outbreak of the Great Depression in 1929. All across the Euro-American heartland of capitalist world, this vaunted economy systemRead MoreThe Effect Of The Great Depression1278 Words   |  6 Pagesdebated many times. Welfare has good and bad aspects to it. The welfare system came about when the stock market crashed in October of 1929. The stock market crashing had a huge effect on the economy. Banks started to fail, businesses closed, and thus millions of people lost their jobs. The effect of the Great Depression was crucial. It was particularly hard on the children. President Franklin Roosevelt focused on two topics. One was the most important to him; it was to create jobs for the millionsRead MoreThe Great Depression Effects On America1351 Words   |  6 PagesThe Great Depression had a profound effect on the generation that lived through it, with many people struggling j ust to get by, and the crisis lasted for years. An entire decade was shaped by this event and so were its people. Because of the effects of the Great Depression, essentially everyone had to change their lifestyle and their daily routines. Because of these tough times, the American outlook on life was grim, the Great Depression lasted for over a decade and no one knew when it was goingRead MoreGlobal Effects Of The Great Depression Essay1099 Words   |  5 PagesGrace Young Dr. John R. Dabrowski American History II, AMH-2020-H01 7 December 2016 Global Effects of the Great Depression When the American stock market crashed on the infamous Black Tuesday in October 1929, the resulting circumstances were felt worldwide. This crisis resulted in a devastating economic collapse. The ensuing Great Depression was in fact a global event. The world was not immediately engulfed by this wave of economic decline. The timing of economic events varied greatly among nationsRead MoreThe Effect of the Great Depression Worldwide765 Words   |  3 PagesThe Great Depression was a major economic disaster which left the people of the world shocked. Many countries were already left in a bad position due to the effect of World War I. Countries that bought and sold on the international market were affected. The United Kingdom, France, and Germany were just a few of the affected countries that had a difficult time getting their country back to great economic shape. The United Kingdom finished World War I a few years prior to the Great Depression, andRead MoreEffects Of The Great Depression On Society1500 Words   |  6 PagesAmerican may remember horror stories of the effect the Great Depression had on society. Although devastating it was not the first time workers had the task to endure the financial difficulties of an impending recession. The Panic of 1792, where two situations occurred almost simultaneously which produced the first financial crisis. This was the first time which Americans experienced a bank run when US securities and bank stock prices started to increase. During the Revolutionary war I, the US

Leadership Reflection Charismatic Leadership

Question: Discuss about theLeadership Reflection for Charismatic Leadership. Answer: Introduction Self Reflection In this course work I have learned about the various concepts of leadership and management. Our textbook, defines leadership as the ability to influence people toward the attainment of organizational goals (p. 494). It also acknowledges that followership has a significant influence on leadership.Today, I can say that there is a considerable difference in the field of management and leadership. I have also studied the leadership styles of various leaders. I have particularly liked the democratic leadership style practiced by Steve Jobs. I have also learned about other leadership styles like transformational leadership, charismatic leadership and servant leadership. I have personally liked the servant leadership style a lot. This is illustrated by Daft (2013) in his Hot Topic discussion of how people have studied Jobs management and leadership styles due to the unprecedented success of Apple. Early in his career Steve was a leader and he used his skills to build up the company from 2 p eople in a garage to a huge computer corporation. But, his lack of management skill led to problems and his eventual departure. His return to Apple showed that he had learned a lot of sophisticated management theory and was able to apply it to become a super-successful manager-leader before his untimely demise. I have also learned that the organizations should focus on leadership development and not only managerial development. The managers would often do the transactional work. However, leaders would often focus on the transformational work. I believe that the leaders have an integral role to play in all the four functions of management, planning, organizing, leading and controlling. According to Daft (2014) there are four functions of management: planning, organizing, leading, and controlling. Below are examples of the each and the challenges they present to both the manager and the leader. Manager: Planning can be a challenge if the manager lacks conceptual skills or the ability to see the big picture, organizing can be difficult if there is constant turnover of employees, leading can be a challenge if the manager is not sensitive to the needs of direct reports or has difficulty motivating people, and controlling can become an issue if the manager does not confront problems as they occur or has problems with communicating expectations (Fulop Day, 2010). Leader: Planning can be a challenge if there are not well-defined goals, organizing may be problematic if the leader does not trust others enough to delegate responsibilities, leading may be a challenge if leaders dont know how to listen or dont demonstrate their own expectations, and controlling may be a challenge if a leader does not value the employee or understand what motivates them. While Daft presents four functions of management, Plucknette (2014) describes four distinct differences between leaders and managers. I suggest people are not that easy to categorize.In the example above, many of the challenges of a manager and a leader can be minimized or eliminated by combining the attributes of each role and applying them as situations dictate. Managers cannot be successful if they do not possess attributes of a leader and leaders cannot be effective if they cannot be an effective manager (Dion, 2012). I personally think that one challenged posed by serving, as a leader is being able to motivate your employees and looking at it from a planning, organizing, leading and controlling perspective is important. Planning to keep your employees motivated is a great start, first setting goals for the future of the organization, with the employees being included. Letting the employees in on where the company wants to be in the future and how to accomplish this all-important goal. Organizing a way to get the employees involved, such as having open communication, having employee unity, encouraging the employee to put in their own ideas and goals for the organization. As the leader a challenge would be one of helping make the employees feel that the organization is personally their organization, in other words, to take ownership (Pavur, 2012). The challenge posed for the leader is leading the employees to stay motivated. The leader should communicate the goals of the organization on continued b ases. Out of the four leadership theories of democratic leadership, transformational leadership, charismatic leadership and servant leadership, I would particularly like to focus on servant leadership. I believe that there is a long way for me to master the servant leadership theory. I have learned that planning is an important part of servant leadership and it is important that the leaders should be willing to serve. I have also learned that leaders should take all the people together while implementing and strategies and policies. The planning step for servant leadership begin by scanning of the environment and being aware of the critical contingencies facing the organization and economic goals. Objectives need to be establishing is this step, evaluation of alternatives, and course of action to reach goals. Challenges for managers and leaders in this function are not being fully familiar with the environment and economic status of the organization. Inability to integrate the plan into th e culture, operations, and budget also causes a challenge for managers and leaders in this phase (Javidan, 2012). Not being aware of the organization vision poses a challenge for leaders in this function. Lacking a deep understanding of the products they perform, roles and responsibilities poses a challenge for managers in this function. The next step in the servant leadership is organizing. This step entails developing an organizational structure and recruiting human resources to ensure the accomplishment of objectives. A weak communication process could be a challenge for both managers and leaders in this step. Open communication will ensure everyone is using the same methods and is using the same policies (Knutsen, 2014). The third important step as part of servant leadership is controlling. This step consists of three parts: establishing performance standards, comparing actual performance against standards, and taking corrective action when needed. Performance standards are ofte n measured by monetary terms such as revenue, profits, and costs (Carpenter, Bauer Erdogan, 2014). A challenge for managers is this step is when they worries that what the organization did today will have a direct impact on his or her monthly goals, as a result they run equipment when there are indications equipment are in the process of failing, and focus on cost cutting as opposed to improving productivity. A challenge for leaders in this step is not to focus on continuous improvement and not focusing on people behaviors and leading indicators. Using leading indicators, they will invest in new equipment, people, and technology to grow their business and market share (Pluncknette, 2014). I have also learned about the differences between management and leadership. The manager is the employees direct point person. They are available, visual and are easily contacted for direction and assistance at all times. The manager leads by example through dedication, confidence and consistency of their performance (Mumford, 2013). The manager wears many hats such as mentor, teacher, leader, point person, as well as confidant. They are the one who is in charge of making sure the production remains high and the quality of what is being produced is on par with company expectations. Their primary concern is the application of rules and procedures to achieve efficient production (Daft, 2013). The manager is more detail oriented to the day to day tasks of staffing, fielding issues, employee complaints or mistakes. Every day is different and produces many issues that must be handled quickly and efficiently to maintain production. A manager must know their job and their employees strength s and weaknesses to be able to keep performance at its peak. I believe that it is possible to be both a leader and a manger, whereas I have seen the people that display both. I have known a supervisor, she is always encouraging others, being supportive of others needs and concerns, motivates others to work to their full potential, and willing to help in any matter that she is needed. She always set goals for the both of us for success and set a path for a successful outcome. Leaders are goals setters, monitors, and leading others to be a leader, and have a vision and goal for long-term success. Mangers are the ones that push others toward the goal, give a direction toward the goal, and express the expectations of a successful outcome of the goal. I agree that not all managers are leaders and not all leaders are managers. The both must lead by example in order or their followers to work to their full potential for success. I do believe that is you desire that you can become both but have to lead with compassion but with authority by displaying trust, honesty, and being faithful to your followers. In order for an organization to be successful their leaders/managers have to work together for the good of the organization and their followers for a successful outcome (Birnbaum, 2014). A leader is a visionary, leaders are always looking for ways to do things better (Kearney, 2014). I believe that it is possible to be both a manager and a leader. I believe that it takes someone that is dedicated to lead by example and is a servant leader as well as obtaining the necessary skills to manage appropriately. Very few managers can do that. It takes continuous personal assessment and making sure to stay true to personal core values. I believe that I have been an informal leader since childhood. I was always organizing neighborhood games or games on the playground during recess. People come to me for advice and my co-workers look to me to lead. I don't know that much about management but am excited by what we are learning. I think there are certain areas of management that I have learned by watching good and bad examples. I hope to put all that together and be capable of being a good leader-manager when I finish this program. I am very compassionate in my work and very humb le to others needs. I feel that I would lead by example by putting others first and building a positive relationship with my followers and being supportive in all aspects. In order to be both you have to have a vision for a future growth and success that aligns with the mission of the organization. As a conclusion I would like to say that leadership and management are different foci on the same phenomenon. They are two sides of the same coin. A good leader must be a good manager and a competent manager must develop some real leadership skill and ability (Hough, 2012). In my professional career I would like to continue the path of servant leadership. I believe that there is something unique in servant leadership that keeps people together. The leaders that practice servant leadership style are loyal and they are always ready to support their leaders. As a leader, I would like to see myself at a place where I can lead from front. As a first step of leading, my first step would be to help other through serving. I can say that organizations should focus on leadership development so that people remain motivated and can focus on organizational development. References Birnbaum, R. and Lach, L., 2014. Teaching About What Ethical Social Work Practice Means: Responsibility Starts With Schools of Social Work.Lencadrement juridique de la pratique professionnelle, p.37Daft, R. L. (2013).Management(11th ed.). Mason, OH: South-Western Cengage Learning. Dion, M., 2012. Are ethical theories relevant for ethical leadership?.Leadership Organization Development Journal,33(1), pp.4-24. Ellis, P., Abbott, J. (2015). Exploring the differences between leaders and managers. Journal Of Renal Nursing, 7(2), 96-97 2p. Fulop, L., Day, G. E. (2010). From leader to leadership: clinician managers and where to next?.Australian Health Review,34(3), 344-351. Hough, J., Serfontein, J. J. (2012). The relationship between strategic leadership, operational strategy and organisational performance. Kearney, E., Marggraf, K. (2014, January). The Effects of Empowering Leadership on Managers' Career Perceptions. InAcademy of Management Proceedings(Vol. 2014, No. 1, p. 13384). Academy of Management. Knutsen, W., Brock, K. (2014). Introductory essay: From a closed system to an open system: A parallel critical review of the intellectual trajectories of publicness and nonprofitness.Voluntas: International Journal Of Voluntary Nonprofit Organizations, 25(5), 1113-1131 Mumford, M. D., Partlow, P. J., Medeiros, K. E. (2013). 4. Charismatic leadership in crises: its origins and effects on performance.Handbook of Research on Crisis Leadership in Organizations, 67. Plucknette, D. (2014). 4 Differences between Managers and Leaders.Plant Engineering,68(10), 16-18. Pavur Jr, E. J. (2012). Leadership for managers.The Psychologist-Manager Journal,15(4), 269-274. Varella, P., Javidan, M., Waldman, D. A. (2012). A model of instrumental networks: The roles of socialized charismatic leadership and group behavior.Organization Science,23(2), 582-595.