Sample content Implementation, Strategic Controls, and Contingency Plans STR 581 Implementation, Strategic Controls, and Contingency Plans To make JCPenney’s strategy successful all the important factors must be considered. The implementation plan has to be reviewed by top management to ensure that JCPenney will be walking on the roads of success. The new strategy will have effects on organization, improve its success rate, and modify financial expectations. JCPenney would have to identify the risk factors related to the strategy. It will guide the organization in making sound decisions. Implementation Plan JCPenney tried to create a newer version of the company through its strategic plan inclined to obtain a competitive edge. Hence, this implementation plan will focus on objectives, functional tactics, action items deadlines, task ownership and resource allocation. Objectives JCPenney’s goal is to become the leading store in the retail industry. This objective is slowl

1. STR 581 Week 5 Learning Team Implementation Strategic Controls and Contingency Plans
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Sample content
Implementation, Strategic Controls, and Contingency Plans
STR 581

2. Implementation, Strategic Controls, and Contingency Plans
To make JCPenney’s strategy successful all the important factors must be
considered. The implementation plan has to be reviewed by top management to
ensure that JCPenney will be walking on the roads of success. The new strategy
will have effects on organization, improve its success rate, and modify financial
expectations. JCPenney would have to identify the risk factors related to the
strategy. It will guide the organization in making sound decisions.
Implementation Plan
JCPenney tried to create a newer version of the company through its strategic
plan inclined to obtain a competitive edge. Hence, this implementation plan will
focus on objectives, functional tactics, action items deadlines, task ownership and
resource allocation.
Objectives
JCPenney’s goal is to become the leading store in the retail industry. This
objective is slowly being achieved by the company through its fair and square
pricing. This pricing scheme includes three sets of prices. These are the everyday
low prices, month long values and best prices. Its logo was also made to match
that of the American flag to show its goal of conquering America. On the other
hand, its long term goal is focused on establishing 80 to 100 more branding stores
within a store.
Functional tactics
These tactics are key elements in a company’s daily functions. These include
framework, approaches in marketing, operation and manufacturing, and the
efficient management of labor. All these are grand strategies that assure
accomplishment of short-term goals.
JCPenney lacks differentiation thus; the company is adversely affected by
economic changes. The company still has to improve on its product quality to
continue its existence in the industry.
Action Items and Task Ownership
Action items must be identified in strategic planning. Every employee shall be
oriented to giving the best customer service, properly trained, equipped with
knowledge in pricing strategies, and trained in necessary technology.

3. Milestones and JCPenney’s deadlines
For successful implementation, JCPenney developed milestones and deadlines to
create a timeline for its goals. Goal achievement is something which cannot be
rushed. This is why the timeline they create shall be reasonable enough to finish
the tasks in their proper schedule.
Resource Allocation
Allocating resources must also be considered in developing a strategic plan. But
this was not the focus of JCPenney. Instead, the company focused on reduction of
costs. The organization believes that this will bring the company to a greater
height. The current CEO of JCPenney said that closing stores will not make any
sense when the company doesn’t have yet the control over the entire picture of the
scene.
JCPenney has been in business for 110 years and is one of the oldest stores and
had been in the downside for the past five years. As disseminated
marketwatch.com, JCPenney’s stocks were offered for $23.44. If JCPenney really
wants to be “America’s Favorite Store.” it has to introduce further changes in its
organization.
JCPenney’s first leap towards the execution of its strategy is hiring a new chief
executive officer effective November 2011. This new CEO is no other than Ron
Johnson, Apple‘s former senior vice president (Wall Street.com). Johnson is
popular for his successful crafts: Apple, Target, The Dayton Hudson Corp., etc. He
is well equipped with skills and wisdom in the retail industry and his professional
competency can carry JCPenney to the heights of success.
JCPenney’s second move is analyzing the target market. The company evaluates
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