About Us . (2014). Retrieved August 25, 2014, from Macy's Inc.:
https://www.macysinc.com/about-us/
Blocher, E. J., Stout, D. E., Juras, P. E., & Cokins, G. (2013). Cost Management 6th Edition.
New York: McGraw-Hill/Irwin.
Why and how do you feel that the contemporary management technique selected would be a
positive force in helping the company achieve its critical success factors?
The company I chose to discuss for this assignment is Macy’s; one of the leading retailers in the
nation. Bloomingdales and Macy’s both operate under one company and with a combined
effort ended the 2013 fiscal year with $27.9 billion. The contemporary management technique
that best represents Macys is the balanced scorecard (BSC) and strategy map. “Without
strategic information, the firm is likely to stray from its competitive course and to make
strategically wrong product decisions, for example, choosing the wrong products or the wrong
marketing and distribution methods.” (Blocher, Stout, Juras, & Cokins, 2013) Although Macys is
very profitable there are other factors that Macys must make priority in order to stay on top of
their competition; (1) customer satisfaction, (2) internal processes, and (3) learning and growth.
Even with the challenges in the economy cunsumers Macys has made a huge impression on
society as a whole with their participation in various events like the Macys Day Parade as well
as their strong financial support to various charities.
Bibliography
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