Kmart's Ten Deadly Sins

Beschreibung

An insightful look at how Kmart's management destroyed thecompany Kmart's Ten Deadly Sins spins an intriguing tale of the missteps ofa retail giant who once had the industry in the palm of its handand foolishly let it all slip away. This engaging book weavescorporate history in with financial analysis and commentary thatleaves the reader with a better sense of where Kmart has been andwhat its potential is for a turnaround. This first in-depthexamination of Kmart clearly identifies and discusses the tenmissteps and miscalculations Kmart's CEOs have repeatedly made,including resisting investments in technology, brand mismanagement,and haphazard expansion, to name a few. Author Marcia Layton Turnertaps many of her vast contacts within the retail business communityto get the inside scoop on what really brought this once mightyretail giant to its knees. Kmart's Ten Deadly Sins is written forreaders who find themselves wondering how a company with suchbright prospects could end up filing for bankruptcy. Marcia Layton Turner (Rochester, NY) is the bestselling author ofThe Unofficial Guide to Starting a Small Business and The CompleteIdiot's Guide to Starting Your Own Business. With an MBA incorporate strategy and marketing from the University of Michigan,she spent several years with Eastman Kodak in marketing andmarketing communications. She is currently a freelancewriter/author and ghostwriter for college-level business textbooks.Turner has also written for several top magazines and Web sites.

Autor*in

Marcia Layton Turner

Themen in »Kmart's Ten Deadly Sins«

Business & Management Finance & Investments Finanz- u. Anlagewesen Wirtschaft Wirtschaft u. Management

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Kmart was Wal-Mart before there was a Wal-Mart. Originally a chain of retail stores along the lines of F.W.Woolworth's "five and dime" outlets, the former Kresge's evolvedinto the larger Kmart in 1962, with 18 "super-stores." Wal-Martbegan the same year with a single rural Arkansas location. Kmart cruised along nicely for the first 25 years or so, but by theend of the 1970s profits began to dip, coincidental to Wal-Mart'sascendance. Business journalist Marcia Layton Turner offers a remarkable,no-nonsense examination of Kmart's fall. Her carefully documentedtale relies on reporting from the trade and general press,amplified by testimony and commentary from a number of expertwitnesses. It's a grim story; reading it is somewhat akin towatching a train going off a mountain, but the tragedy of Kmart isa tale of human incompetence, ignorance, greed and hubris. Here, according to Turner, are Kmart's 10 fatal mistakes: 1. Brandmismanagement; 2. Not knowing its customers; 3. UnderestimatingWal-Mart; 4. Lousy locations; 5. Ignoring store appearance; 6.Technology aversion; 7. Supply chain disconnect; 8. Loss of focus;9. Strategy du jour; 10. Repeating the same mistakes. Squeezed by thrifty and technologically savvy Wal-Mart on one side,and trendy, more fashion forward Target on the other, one wondersif the once-mighty Kmart still has a prayer. Hard to say, but ifthe chain's immediate history of monumental mismanagement offersany clues, it's just a matter of time before Kmart flat-lines-- barring a miracle. (The Miami Herald (circ:327,000), Sept. 29, 2003)
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