Three companies that declared bankruptcy during the last ten years are listed above. Choose one of these and find information about the company on the Internet. In hindsight what might they have done differently? Kmart Corporation was the third largest discount retailer in US market. Due to huge debts and erosion of consumers’ confidence, Kmart filed for bankruptcy in 2002 (Probst & Raisch, 2005). According to the assignment help experts followings are the main factors that were responsible for failure of Kmart planning’s. Less efficiency of Supply chain management: Behind the bankruptcy of Kmart, the main contributor was an inadequate management of its supply chain that unable the firm to manage the demands of customers and supply of required products effectively. Its competitor Wal-Mart focused on customers’ requirement and better supply channels, which enabled Wal-Mart to provide its products to customers timely. Lack of IT systems: Behind the failure of Kmart’s planning, lack of IT systems were much responsible. Wal-Mart and other retail players were investing huge money for adapting advanced technology to predict the potentiality of retail markets and for sending important information regarding to customers and markets within organization.
Greater Competition: Due to use of advanced technology, Wal-Mart provides low-cost products to its customers that increased the level of competition in retail market. Price leadership strategy: Kmart was focusing on price leadership strategy and quality products that effectively reduced its competitive capability along with the image of its products. Kmart’s leaders should use restructuring process in its business operations. The first stapes of this process would include redefining strategies related to information technology systems. Through which, it will reconstitute its supply chain that can help to reduce overall labor cost. Gartner, Inc. (2004). Gartner Dataquest Alert. 2.42 Billion Annual Loss. Konicki, S. (2002). Now In Bankruptcy, Kmart Struggled With Supply Chain. Lehavy, R. & Udpa, S. (2011). Kmart: Predicting Bankruptcy, Fresh Start Reporting, and Valuation of Distressed Securities. Probst, G. & Raisch, S. (2005). Organizational crisis: The logic of failure. Sears Holding Corporation (2008). Investor Information. Our main aim is to provide best help to students who wants management assignment help. Get best help from the team of assignment help, mathematics assignment help, mathematics homework help and online assignment help tutors. Please e-mail us if you have any query. We would be very happy to help you with any subject assignment help online and online assignment help.
To be counted as a substantial post, your main post to the Discussion topics should be at least 200 words per Discussion topic. The Discussion topics deal with the 10 Principles of Economics, and the specific discussion areas include the economic principles that guide how people make economic decisions (choices), how people interact in markets, and how the economy as a whole works. Read Chapter 1 to identify particular economic principles that guide the various economic decision making processes. Respond to two of the following Discussion topics. Remember to include your references or links to the websites that are important contributors to your comments. The economy works via the interactions of economic agents (interactions of economic choices). Economists claim that pursuing self-interest based on our skills leads to trade based specialization and mutual gains from trade. Think of a recent purchasing decision in which you compared the marginal benefits associated with buying a product with the marginal costs.
How do you make a rational decision by comparing marginal benefits and marginal costs? What is the role of self-interest in free market operations (economic choice interactions)? Why engagement in self-interest may lead to better welfare for the society? Journal entry questions are related to the application of the key concepts you learn to the real-world economic issues. The Journal questions contain the key economic principles and ideas related to the Macroeconomics topics you are learning. Please feel free to express your perspectives, and state how the economic principles and ideas affect your economic decision making process. You should note that there is a limit to the number of words for the Journal entry. You can only enter the maximum 400 words. According to the Principles of Economics, economic principles guide how we make economic choices and how we interact in the market. What role do economic principles play in your personal economic decisions (choices)? Do you encounter scarcity either personally or in your workplace? What are the kinds of scarcity you encounter? To make rational economic decisions, we need to compare costs and benefits. Suppose you are trying to decide whether to take a vacation. The majority of the costs of the vacation are measured in monetary terms (dollars), but the benefits of the vacation are generally non-monetary in nature. How do you compare the non-monetary benefits with the monetary costs? What are the economic (opportunity) costs of going on vacation? Explain in terms of economic costs, which include both monetary and nonmonetary costs.