K-Marts Strategy - Problems and Recommendations free essay sample

An essay which discusses why retailer K-Mart went bankrupt and how it can solve some of its problems. A paper which studies K-Marts current business strategy and then makes some recommendations in connection with the same. The paper shows how K-Mart, the third largest retail company in America, filed for bankruptcy when it was simply unable to get rid of its debts. The paper discusses the truth in the assumption that management was to blame because Conaway has absolute no experience in apparel and also knows little about running a 2,100-stores chain. `Kmart, the third largest retailing chain in the United States announced bankruptcy earlier this year but few were shocked. Though it is true that the American corporate world and its economy could do without another giant company crashing, still many were somehow prepared for this fate for Kmart because the company was constantly suffering from poor strategies and an identity crisis. We will write a custom essay sample on K-Marts Strategy Problems and Recommendations or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It lost millions when it tried to compete with the number one retailers Wal-Mart for price and Target for style. And it lost from both not because it didnt have enough assets or financial support, but simply because the company doesnt know a thing about good strategy. It is quite strange that once a retailing giant, the company started losing in annual revenues steadily in the last decade and no strategy or management shakeup could bring it back to its old position. There are many who would love to put the entire blame on the slow down in the economy but those who know anything about Kmarts poor marketing strategies and business plan understand what exactly happened at Kmart stores.`