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Essay / Research Paper Abstract
This 5 page paper discusses the factors associated with the success or failure of certain stores. Nordstrom is used as the success story and Woolworth is used as the failure story. Other stores mentioned include, JC Penney, K-Mart, Wal-Mart, Target, Sears, and Kresge. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGwlwrt.rtf
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Unformatted sample text from the term paper:
billions) (BizStats.com, 2003). This industry has changed as much as any industry over the last two decades. Mergers many people would never have thought possible have happened, e.g., K-Mart, barely
out of bankruptcy recently bought Sears, some years ago, Sears and Lands End merged, Macys and Burdines merged, JC Penney acquired Eckerd drugs and recently sold Eckerd to CVS. New
businesses have been created and soared to success, like Starbucks, which began the coffee house craze. Other well-known trusted companies closed their doors, like Kresges, Woolworths, and Grants. Why do
some companies continue despite the changes in the market, in the society, in technology and others fail? If you were to ask your parents or grandparents, they would have scoffed
at the idea of Woolworths ever closing its doors. Why do some continue to succeed while others struggle and finally give up? Porter said that that companies must offers
something unique, something that differentiates them from the crowd in order to sustain long-term competive advantage (1995). Nordstroms is an upscale apparel and shoe retailer that lives by the
same philosophy established when it opened over 100 years ago: "Offer the customer the best possible service, selection, quality and value" (Staub, 2004). This family-owned company has developed a reputation
for exceptional customer service, such as their liberal return policy (Staub, 2004). Employees are empowered to make the customer happy and satisfied. An example: a sales associate in Virginia received
a letter from a regular customer who had recently purchased $2,000 worth of shirts and ties. The customer laundered them in hot water when the instructions clearly said not to
use hot water. The shirts shrank. He wrote to the sales associate, taking responsibility for his mistake and asking if there was anything he could do. The customer was
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