We are Market Basket tells a story around a family business which is a supermarket chain called Market Basket. Market Basket is a grocery chain that starts the first store at Lowell, Massachusetts and has 71 stores in the New England region, also it is owned by Arthur’s family. After reading this book, I noticed that why Market Basket still could have that numbers amount stores exist, even though they had the “change CEO” thing, how low about their goods prices and the high pay for hourly employees. In this book, I think it basic consist of three out of four were talked the “change CEO” thing. I think the interesting part is starting from the board of directors dismiss Arthur T and all the employees were take the risk of losing their jobs, …show more content…
Because they think Market Basket is a classical grocery store with low price and the atmosphere like a family. As well as almost all the staffs in Market Basket are the same group of people, so when the older people go to the supermarket, staffs know their and could said they name or chat with them. Market Basket could keep they employees stay and be successful, one of the reason is because of the high pay for both part-time and full-time employees. For example, during that time, the Massachusetts minimum wage is 8 dollars an hour, going up to 9 dollars, and Market Basket pay 12 dollars for an hour. Thus, that amount of the wage could definitely win employees hearts. The second reason what Market Basket could succeed, also is what I want to take away from the books, is Arthur T treat employees like family and believe them. He could earn the loyalty from the employees has the reason. He could remember all the employee's name and the general situation about them. Arthur T will talk with the employee who passes by him and knowing their family or what happened to them recently, although he has about 2,000 employees. He trusts them and treat hem as best he could, I guess that is why when he was being fired, everyone supports him. I could not help but think if I am the CEO, and that is me who being fired by the board of directors, is any of my staffs will come out can do the protest or fight for me? Therefore, I want to take away the values
Sears has created a “Financial Crisis” when hedge fund manager Edward Lampert took over control of the company. The mentality of investors of a CFO is an important viewpoint during crisis because it can help streamline process and reduce cost. Retail experience should be dominant the retail in order to feel the pulse of the consumer desires and to determine proper margin levels while eliminating inefficiencies in the organization. According to Marina Strauss of the Globe and Mail, “a sweeping change will be required to improve the retailer’s outlook”. She quoted the (CEO of Sears-Canada) Mr. McDonald saying in a memo that “Our store are too difficult to shop in. We have inconsistent execution…We do not offer the right product in the right market” (STRAUSS M., 2011).
The retail stores of JC Penney and Sears have face headlines of “Which is Worst: JCP or Sears?” The end maybe near for both companies (Andersen2014). The customers look at the employees like their idiots. The public believes that poor management is the reason for the down fall of these companies. Eddie Lambert and Ron Johnson are the CEO’s of being credited to running these companies with wrong management strategies (Andersen 2014). Ron Johnson who is now the former CEO was highly qualified with his retail instincts tried to run the store like a retail boutique. He never took the time to consult a survey on what the consumer’s thought were and after two years he jeopardized the company (Andersen 2014). Whereas the CEO Eddie Lambert of Sears
In the United States and all over the world, the entry and operations of big retailers like Wal-Mart into a small town sparks great controversy within the community. The fact that people contemplate on the fact that the policies and actions of Wal-Mart are destructive to a small town’s economy is not new. Most small town’s economies are run by subsistence and self-reliant traders. With time, the traders embrace the division of labor and specialization of skills in accordance with the trade, production and manufacturing needs of the community. In such a market, a simple move like a decision by the producers to sell directly to the consumers may spark
The purpose of this paper is to analyze and discuss the effectiveness of the Target Stores supply chain. Target was founded in 1902 by George Draper Dayton who after partnering with the owner of Goodfellow Dry Goods Company for a year decided he wanted to have more involvement, so he purchased Goodfellows renaming it Dayton Dry Goods Company. After purchasing the store Mr. Dayton remained in management until the time of his death in 1938. By this time the store had seen many changes including a name change in 1911 changing from Dayton Dry Goods Company to The Dayton Company, as well as an addition of the Dayton Foundation in 1918. After Mr. Dayton’s death the family continued managing the business until 1983 in which the last two managing Dayton’s retired, ending 80 years of the Dayton’s family management (Target Corporation, 2014).
Steve Oliver Maass purchased a grocery store that was in bankruptcy back in 1988, in Cotati, CA, mortgaging his house to come up with the payment of $200,000. Although he had no grocery store experience besides working in the produce department of one, he felt he could not do any worse than the previous owner did. The store was run down and a mess requiring a lot of cleaning. With limited funds, he was only able to paint instead of doing much remodeling, as he wanted to do. Maass renamed the store Oliver’s Market after his middle name, and he and his wife worked the store for the first four years. During those years, Oliver’s added a Service deli and a Health foods section. Following the format of Whole Foods, Oliver’s carried a section of organic health foods and included conventional items as well.
Management is a key to success, and Kmart needs proper management to help create a positive image that attracts more customers. Kmart’s disorderly management and bankruptcy caused many customers to shop with other retailers. According to Carr, Wal-Mart and Kmart were the same size in 1990. Since then, Kmart has grown far slower than its rival or the industry. Once one of the largest discount retailers, Kmart filed for the biggest Chapter 11 bankruptcy for discount retailing in the United States (2002). Struggling to find the right type of management has been one of Kmart’s problems that ultimately helped lead the company to its downfall. Kmart is constantly changing CEO’s, and thus focuses. Kmart has had four different CEO’s since 2000, all with different management objectives.
...gree and believe that they could get real results if everyone would consistently apply the company’s principles. I have learned personally in the business world consistency means a lot, all employees should have the same consequences. By letting go employees, managers and executives shows that the rules apply to all levels. It will cause everyone involved to have more respect for the company even if they don’t agree with the decision.
Oliver’s market competes with rivals by its pricing strategy. They set their everyday prices on traditional grocery items eight to ten percent below Safeway’s prices. They also price its natural foods just below Whole Foods. Beside that they use promotion and advertising as another weapon to compete in the market. They have a Direct to You program that offers a ten percent discount to seniors on Wednesdays before 4:00 p.m. They also have a staples program which compares prices to Safeway for everyday items.
Also he does not believe involving the staff to build a strategy that everyone know and works together to achieve. Strategy is in his head and no one know it. He also changes he opinion every often and this make it hard to be consistent in any approach to key stakeholders and himself. The root cause I believe is that he has never been exposed to the ideas, concept and corporate structure for him to full understand how much value this can bring to the company
Moreover, the company has placed great significance on open and honest communications with the employees on many levels. Even more, leadership expected a plan that would utilize all human assets in a way that would support the organization’s attitude in servicing customers and employees. As such, they found it important to centralize the staffing initiative in order to maintain the unique corporate culture created in the beginning. Every one of these strategies would be focused on centralizing staffing, brining in the best possible employees, and retaining each on a high
CEO Johnston also has plans to bolster the company’s leadership with the best minds available and also use motivational techniques to invigorate his employees. These ideas show the character of the CEO in enhancing productivity from his work force.
When Jack Welch was named CEO of General Electric, Welch saw a company in trouble even though the business world saw GE as an intrinsically healthy corporation, secure in its position as a world industrial leader. Welch knew that the company was too large to fail yet GE was too unwieldy to adapt for further growth. The changes he instituted restructured and revolutionized GE and made Welch the most respected CEO in business today. After reading the book there were three parts that really stood out for me.
1) He is facing huge protestation from the employees due to their angriness. This is because the employees are resisting the change in the organisation which is break out in the form of their protesting nature.
Walmart needed high levels of growth to continue to survive and saturation of domestic market. Global retail expansion has attracted many large-sized companies with targets to increase business profits and market share. Global expansion not only attracts large organizations but also small to medium-sized companies, companies new to international expansion, as well as those who are already expanding in the international arena. However, there are also well-known retailers who failed in their expansion in certain global markets due to regulatory, legal and cultural challenges, competition, and attempting to change local shopping behavior. The lower pricing strategy was their basic strategy to expand Walmart’s philosophy, “Every Day Low Price” to all parts of the world. The only challenge was the distribution system; the company had given in to union demands from the state-run. Walmart was not influenced. The marketing strategies still involved huge discounts and great values on all of their products, similar to strategies in their home country: maintaining low prices every day, especially middle-class customers, yet maintaining profits. They also suggested
After meeting with the president and listening to the issues and concerns regarding, Jack I would highly recommend for a personal improvement plan (PIP) to be developed. I would suggest for the president to have a one-on-one meeting with Jack regarding the negative feedback he has received from the staff. Jack should be fully aware of the expectations that are being sought as a result of this improvement plan. When laying out the areas of improvement, the first concern would be the negative attitude he has toward his staff. Next, would be to address the several complaints on company surveys from his department as well as outside of his department. These situations take time so I would recommend a 90-day plan with a follow up with the employees immediately after the plan has exhausted. The purpose of the PIP would be to improve employee morale, create a healthier work environment, and assure that the employees are receiving adequate support and resources needed to perform productively. Jack would also be informed of the consequences he could face if he is not compliant and open to this PIP. I would suggest for an outside,