Written in 2002; 1,153 words; 2 sources; MLA; $ 39.95
Paper Summary:
This paper examines how Kmart was the second largest retail chain in the United States before it announced bankruptcy in the early part of the 2002 due to competition from its two main rivals, Wal-Mart and Target. It analyzes the failures in its old strategies and proposes new strategy recommendations for Kmart to reinvent itself and put it back at the top of the industry.
Outline
Old Strategy
New Strategy Recommendations
Kmart Should Solve its Identity Crisis
Reach Target Customers
Complete Reorganization
Urban and Emerging Markets
From the Paper:
"The biggest flaw of the company strategy lied in its competition techniques and in its inability to adapt to change. The company had no idea what to focus on because it never really tried to carve a niche for itself in the retail industry. What happens then is that companies lose focus and direction and thus start incorporating all sorts of foolish unproductive ideas in the company's strategy even when it is clear that these ideas are not exactly suitable. For example WALMART has its own niche in the industry, it is and will always be recognized as the "Low prices always" king whereas Target will always be a trendsetter and will be known for its style. But Kmart, a king of what? This is where the identity problem sets in, as people do not know what should Kmart be associated with."
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