Mission & Vision Statement

Mission and Vision Statement of J.C. Penney

Brooke Hall

BMGT 495 Strategic Management

Professor Swindell

November 1, 2013

Table of Contents

Introduction 3

Mission Statement 3

Vision Statement 4

JCP’s Strengths 5

JCP’s Challenges 5

Future Goals and Objectives 6

Recommendations 7

References: 8

Introduction

Founded in 1902, by James Cash Penney in Kemmerer, Wyoming, JCP has witnessed dramatic changes and overhauls with the arrival of each CEO. Beginning in 2013, JCP again started fresh with the rehiring of retired CEO Myron Ullman who has taken revolutionary steps to improve the company’s performance and pricing structure (Berfield, 2013). Under the leadership of Ullman, JCP is working to rid itself of its former image of inadequate products, at least one price promotion per day, and high employee turnover, and instead focusing on fair pricing for all, interest based marketing, and spotlighting their exclusive brands in comparison to their competitors.

Mission Statement

According to Daft (2011), having a clear mission and vision for the future as well as a strategy for implementation are key components of accomplishing any goals within an organization. JCP’s mission is simple and straight to the point, “To drive Sales and Profit growth by ensuring our Customer and Associates always know they’re first in our Stores by what We do!” (JCPJline, 2011). As noted in our text, a mission statement serves as both a description of a company’s purpose, while simultaneously answering the questions what is our business?, why do we exist?, and who do we serve? (David, 2012). While JCP misses the mark with answering the question what is our business, it is well emphasized that the most important components of their existence is centered around customer and associate satisfaction, sales, and profits by the capitalization of these key terms.

As previously mentioned, JCP’s mission statement is not without flaws. A focal area that was missing from the...