Unit VIII pt3 BPS

2

Macy’s, Inc.-2018

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Macy’s, Inc.-2018 operates in 690 departmental stores located in forty-five states. Macy’s has 148,300 full-time employees and part-time workers who the labor unions represent 10% of them. Macy’s Inc.-2018 is a profit-making organization with a strategic plan of improving its operations. The revenues, as well as the profits of the company, have been decreasing since 2015.

Macy’s vision refers to operating Macy’s and Bloomingdales as dynamic national brands while focusing on the consumer offering in each location. While the mission of Macy’s states that the company's goal is to see an opportunity in the horizon and develop a clear path of capitalizing it (David, David & David, 2019). Therefore, to achieve the mission, Macy’s are moving faster than previously by employing more technology and concentrating on the full utilization of the resources on the elements that are important to our core customers.

To ensure the company meets the sustainability aspects of its activities, Macy’s company has taken several measures like adding 1.8 million LED lights and saving 26 million kilowatt-hours of power (Meza, 2018). The company is also a member of the Dow Jones Sustainability Index. The current strategies aimed to revive the operations include increased marketing techniques to improve the loyalty programs of the company and pricing strategies, enhancing the focus of the company to private brands and accommodating the rising Macy’s backstage, adjusting to improved mobiles applications, and focusing towards the highly skilled workforce, increasing Macy’s focus on reduction of the production cost and lastly, seeking to acquire new customers as well as shares of the market (David, David & David, 2019).

Macy’s company’s long-term objectives seek to address the profitable growth of sales, get back the millennials, improve technology, and gain social respect. The company's long-term goals include profitability, which enhances reduction of cost production to sustain the profitable margins (David, David & David, 2019). Gaining the millennials is another long-term objective that seeks to improve the share of the market. At the same time, technological innovation focuses on technological advancement to update the company's work and operations. The short-term goals of the company are product development and the improvement of the brand.

Macy’s new ways of improving the company are using digital technologies to improve the in-store visual merchandising, thereby helping the customers have clear connections with the company. However, the company proposes to entice its customers since they are needed to take enticement products to attract customers. Macy’s is used to employing the Polaris strategy. The company sets the process to strengthen the relationship of the customers, increasing the growth of technological changes and reducing the cost of production (David, David & David, 2019). The ways to improve Macy’s mission are keeping the mission of the company is short. Also, eliminate possible limiting factors in the mission and find how the employees of the company think on the issues of Macy’s mission (Swenson, 2019). Also, the company contains few ways of improving the structural organization of Macy’s by restructuring the employees to match the company’s accrued revenues and real incomes.

In conclusion, Macy’s comprises of different strategies to enhance the improvement in the company's operations. Therefore, to achieve the mission, Macy’s are moving faster than previously by employing more technology and concentrating on the full utilization of the resources on the elements that are important to our core customers. The way to improve Macy’s missions is to keep the task of the company concise form. Also, eliminate possible limiting factors in the mission and find how the employees of the company think on the issues of Macy’s mission.

References

David, F. R., David, F. R., & David, M. E. (2019). Strategic Management (17th Edition). Pearson Education (US). https://online.vitalsource.com/books/9780135203736

Meza, N. V. (2018). Valuación de Macy’s Inc.

Swenson, E. (2019). Financial Analysis on Macy's, Inc.