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Management . book Hidden value - Assignment Example

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Starting employees are usually young, immigrants, or those with the difficulty obtaining work. 66% of those people are usually female. Low wages and low skill indexes are expected, turnover is endemic. Mens Warehouse, however, chose to do things a little differently, which has maintain them as a profitable industry during a time when most of the industry is failing.
Mens Warehouse targets the middle income and the fact that men do not like to shop. Their prices are below average and they use a" everyday low pricing strategy". Their philosophy is one of the worldview. They believe they are in the people business and that their companys job is to help people understand others, listen better, and develop excellent skills in order to help themselves and their teammates. In other words they attempt to help each person achieve their potential. Potential include such things as being a better spouse being a better parent and fulfilling their desires at work.
With the kind of philosophy that Mens Warehouse has, the training also has to be somewhat different. In this case they have very little training budget. They do however believe in the power of untapped human potential. When they ranked the importance of stakeholders and their company, employees are ranked first. Following employees come customers, vendors, and shareholders. The company believes in promotion from within and all of the senior executives have been with the company a long time. The average tenure is 10 to 15 years. Management development is done through a two layer system. District managers are also trainers. The company has many training and on-site meetings throughout the year, they seldom if ever use any outside training people. They also provide to learning Universities for their employees. In interesting factor is that much of the training is also done by senior executives.
Performance management is important to them. They did this through a number of constructive ...Show more


Putting the right people in the right position including the attraction of superior talent is considered the competitive advantage today…
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