Strategic Management

Nordstrom- SWOT

Dr. Orlando Rivero

Strategic Management

STRENGTHS

-Offer the customer the best possible service, selection, quality and value.

 -Their driving values and principals.

 -Company management strongly believes that their employees make their business prosper and that success is built around people.

 -Company appreciates and respects contributions of each employee customer and vendor.

 -Not making it a typical department store but to make it where customers find fashion departments.

 -They have their own ethics code with the highest standards which cover the relationship inside and outside the company.

 -Their support for their communities.

 -Protecting human rights.

 -Caring for their people.

 -Goal setting is key to their business, it helps them focus their efforts, drive results and recognize great performances, with social responsibility, they are setting goals for many of these same reasons

 -They are very concered with the enviroment and some of their goals are in being a green company. Some of their target areas are recycling, energy, deforestation, transportation, water and chemicals and toxins.

oPPORTUNITIES

-Switch in buyers' habits, as they still want for the luxurious apparel that Nordstrom provides, but at a lower price. http://www.forbes.com/forbes/2010/0301/finance-housing-stocks-coach-financial-strategy.html?partner=alerts

 -Opening of 16 new outlet stores represent expansion into a less typical market segment (middle class and bargain hunters.)

 -Lifestyle change (more bargain hunters)

 -New customer focus on "green" and "organic" products

wEAKNESS

Difficulty forecasting up and coming fashion trends.

 -Rapid expansion of outlet stores may hurt their reputation of having a consistently high level of customer service.

 -Rapid expansion of the company also expands the workforce and makes it difficult for Nordstrom manage its employees.

 -A high social contribution can increase...