Create an external and internal environmental analysis of Macy's Department Store.
Make a SWOTT table to present a summary of your findings. You should include:
- Trends and external forces:
--- Competitive Analysis
--- Legal and Regulatory
- Trends and internal forces:
--- Intellectual Property
--- Strategic Capabilities
--- Processes and Systems
Include a strength, weakness, opportunity, threat, and trend for each of the above in your table.
Then, write about 7 of the above, and include legal and regulatory, as well as economic trends, how well the organization adapts to change, an analysis of the organization's supply chain operations, and issues/opportunities (include a hypothesis of each and research question for this analysis, as well as the circumstances surrounding the issue).
Let's discuss each force one by one.
The first force to consider is legal and regulatory issues. In retail industry, it is very important to consider legal and regulatory issues. Laws such as Environmental protection laws, Taxation policy, Employment laws, Government policy and Legislation have to be carefully studied and complied with. Violation of any law could lead to severe punishments and penalties. The company should make all the effort to pay taxes well in time. Otherwise it could become biggest threat for the company. Further, Macy's being a public company have to comply with laws and regulations prescribed by SEC. Non-compliance with regulatory laws and regulations not only attracts penalties and fines, but also harms the reputation of the company.
Since, Macy is one of the biggest retailers; they have huge opportunity to grab the market share by being socially responsible. They should provide the entire range of garments which are eco-friendly. It would help to enhance the image of the company and people would be even more loyal to the company. They should take care of the legal issues while manufacturing, recycling and dumping the products. Also, compliance with the employment laws is very crucial. It would lead to satisfied work force and thereby increase productivity. Satisfied employees would to be the major strength for the company. In this competitive scenario, the trend is that each company is making an extra effort to provide eco-friendly products and services and congenial working environment for their work force. Organizations keep themselves updated about the legal issues required throughout the supply chain.
Another major force to consider is economic factors. As retail industry is considered the bellwether of the economy, companies like Macy's are heavily affected by changes in the overall economic scenario.
Economic factors such as ...