Describe how strong leadership characteristics are evidenced in Macy's and, if not, how Macy's might improve in this area.All companys have leadership, even if it seems weak. The problem with many...
Describe how strong leadership characteristics are evidenced in Macy's and, if not, how Macy's might improve in this area.
All companys have leadership, even if it seems weak. The problem with many companies is that those in power do not often exhibit strong leadership characteristics.
Leadership qualities can be difficult to define due to the many personalities required to succeed in the business world. As a department store, the leadership qualities that a company like Macy's should strive for could be fairly generic but Macy's has refused to accept any ordinary business model.
Macy's strives for transparency in everything it does. The internet provides easily-accessible information on top executive directors and tries to provide a picture of professionalism but also of real people - photos included. This strategy endears customers and builds loyalty. That must count for something as Macy's has been in operation (in one form or another) since 1858! It is still reinventing itself through strong leadership.
Sam Walton of Wal-Mart remarked that most people rarely invent their own ideas and it is a person's own vision that turns other people's ideas into something unique and successsful. Macy's has been able to combine the visions of many to create their environment.
Macy's builds on trusted management and customer-focused strategies whilst at the same time realizing that the "whole" consists of many partners -
employees, shareholders, vendors, customers, financial analysts and the news media
Enormous trust is placed in its employees and, as such development programs that promote and improve the skills of those employees exist. It recognizes that the employees are vital to success and strives not to overlook any employee. The goals of the group are not unusual. It's the way they achieve those goals that is dynamic and creates an environment where each contribution, however small, is valued.
It is important for huge corporations to understand that value can be lost when scale is too big and thus Macy's builds into its model, individual management plans. Stores are "localized" to create the "just right" atmosphere for customers in any particular demographic. Local decision- making is encouraged and the "My Macy2.0" initiative is designed to ensure local customers receive the service they have come to expect.
Many large, family-oriented stores have relied on their loyal customer base in the past. Macy's has been sure to avoid this pitfall by being constantly innovative and trying to pre-empt customer needs. Technology can be very challenging due to its fast pace and Macy's takes this in hand to ensure "the right products...right place...right time."
Without strong leadership and the forward- thinking, pro-active characteristics of those leaders , Macy's would not be so successful. The approach to the "whole" by realizing that it is the sum of the parts is probably the biggest contribution of those leaders. Each leader brings unique characteristics and Macy's has been able to combine the best characteristics of each to create the phenomenom.