Nordstrom Park Meadows Store #34 Nordstrom The 2013 Southwest Region Intern Project: The Millennial Customer Prepared for: Store #34 and the Southwest Region Prepared by: Brian McIntyre‚ Intern of Men’s Sportswear Devin Francil‚ Intern of Individualist and Via C July 23rd‚ 2013 Table of Contents Table of Contents Executive Summary 3 Who is the Millennial Customer? 4 Situational Analysis of Nordstrom 4 Analyzing the Numbers and the Nordstrom
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Balance Scorecard Study performance measurement in companies whose intangible assets played a central role in value creation. Interest in measurement for driving performance improvements Nordstrom: meets the needs of (Customer relationships and solution rather than price sensitivity.) Goal: obtain desired customer outcomes‚ such as acquire‚ satisfy‚ and retain targeted customers‚ and to build the share of their spending done with the company. Objectives in the learning and growth perspective
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In addition to restructuring the performance measurement and incentive compensation systems to more intrinsically-motivated approaches‚ Nordstrom should consider offering career development and educational opportunities to its sales associates. For example‚ employees could benefit greatly from classes that will benefit their career development and keep them engaged beyond their day-to-day job responsibilities (i.e. courses could cover topics such as sales techniques or finance). A day-on-the-job
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study looking at Nordstrom and how they handled unrest concerning their system of compensation. My initial reaction was of distaste for Nordstrom. Here was a company caught in the past‚ pitting employees against each other through a system based on implied prerogatives‚ without clear goals or documented methodology. Employees were forced to understand‚ against intuition and common sense‚ when they were supposed to leave off certain hours from their time card. Granted‚ Nordstrom couldn’t enforce this
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For my research‚ I chose to compare Nordstrom and Walmart since they seem to be catering to different spectrums of class dynamic. I decide to do my research over the weekend where majority of individuals have days off work. I also did not want my choice of clothing to affect the outcome of my observation and interactions among those in the store. Therefore‚ I wore a dressy blouse with black pants to fit the model of their clientele in Norstrom and comfortable clothes such as; a red tee shirt and
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Through customer relationship management programs‚ retailers can know their customers’ preferences‚ behavior and preferred products. For example‚ major department stores such as Neiman marcus‚ Nordstrom and Saks Fifth Avenue encourage their customer to sign up a free account for newsletter. The retails will save the customer’s preference and shopping habits with website searches. They will offer products and secret sales based on customers’ shopping
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stereotypes among others will succeed or disorientate the approach and will end up with no correct personality description which will mislead you into wrong conclusions. 2. Can a friendly‚ customer-oriented attitude be developed in person? Can Nordstrom “train” employees to prioritize making customer happy‚ or it is purely a matter of personality? Yes it can be developed in a person‚ but it would depend on its personality how this skill will shine and if this value will be enacted. Something
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Recommendation 20 References 21 Abstract Nordstrom is a leading upscale fashion retailer in the United States. In this essay‚ our team will present an organizational analysis for Nordstrom from different aspects including company mission and goals‚ organization structure including the use of teams‚ business environment‚ management of change‚ organizational culture and ethical values‚ management training‚ and leadership styles. Then
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NORDSTROM (JWN) I. Nordstrom’s overview Nordstrom is classified as an Upscale Independent Department Store Chain and is noted as one of the largest department stores of its type. Nordstrom is founded in 1901 by two partners‚ John W. Nordstrom and Carl F. Wallin. It’s headquarter is in Seattle‚ Washington area. Nordstrom carries a wide variety of merchandise and specialty goods‚ which includes apparel‚ shoes‚ jewelry‚ cosmetics‚ fragrances‚ handbags‚ accessories‚ and in some locations‚ home
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Accounting Instructor Michelle Gonzalez July 19‚ 2012 Nordstrom‚ Inc.‚ an upscale department store chain which specializes in clothing‚ accessories‚ cosmetics and household furnishings‚ has hired you as a consultant to help them determine if their performance measures are supporting their company strategies‚ objectives‚ mission and goals. Nordstrom prides itself on providing quality service and high quality clothing. Their mission: "At Nordstrom‚ our goal is to provide outstanding service every day
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