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Strategic Management Business & Management
Pages 10 (2510 words)
JZ Benny is limited public company dealing in retail clothing. It was founded in 1926 by Jack Benny who opened a clothing shop in Muswell Hill in London. Through the years, the company has enjoyed relative growth recording increased profit earnings and enlarging its market share…
The company did not respond to the changing management needs and continued to pay heavy packages to its workers and coupled with low response to fashion changes, it has lost its customers confidence.
JZ Benny did not respond to the competitive edge that the new entrants like Spanish El Dorado and Scandinavian Helgar were employing. It remained static in the fashion outsourcing even when its competitors changed to fast fashion model shops. While the competitors outsourced their fashions from Eastern Europe, JZ Benny instead rushed to China and South East Asia which sold at low cost. Thinking this as a cost advantage over the rivals, it turned out to be a stock burden for the company since they had to buy in bulk and hence were left with indispensable stock at the end of the season. This was a miscalculated marketing strategy resulting from inefficient market analysis. The company failed to keep up with its competitors who resulted to e-supply chain which enabled them to connect the customers with the designers hence placed in the market what the customer preferred. This ensured that they were always ahead of other retailers since they stocked what the customers liked.
JZ Benny saw a management gap and responded by fishing Bob D'Saster from competitor Helgar Fashions. ...
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