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Kmarts Ten Deadly Sins: How Incompetence Tainted an American Icon

Marcia Layton Turner

Published by John Wiley & Sons
ISBN 10: 0471435937 / ISBN 13: 9780471435938
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Title: Kmarts Ten Deadly Sins: How Incompetence ...

Publisher: John Wiley & Sons

Binding: Hardcover

Book Condition: New

Book Type: Hardcover

Description:

Hardcover. 240 pages. Dimensions: 9.2in. x 6.0in. x 1.0in.An insightful look at how Kmarts management destroyed the companyKmarts Ten Deadly Sins spins an intriguing tale of the missteps of a retail giant who once had the industry in the palm of its hand and foolishly let it all slip away. This engaging book weaves corporate history in with financial analysis and commentary that leaves the reader with a better sense of where Kmart has been and what its potential is for a turnaround. This first in-depth examination of Kmart clearly identifies and discusses the ten missteps and miscalculations Kmarts CEOs have repeatedly made, including resisting investments in technology, brand mismanagement, and haphazard expansion, to name a few. Author Marcia Layton Turner taps many of her vast contacts within the retail business community to get the inside scoop on what really brought this once mighty retail giant to its knees. Kmarts Ten Deadly Sins is written for readers who find themselves wondering how a company with such bright prospects could end up filing for bankruptcy. Marcia Layton Turner (Rochester, NY) is the bestselling author of The Unofficial Guide to Starting a Small Business and The Complete Idiots Guide to Starting Your Own Business. With an MBA in corporate strategy and marketing from the University of Michigan, she spent several years with Eastman Kodak in marketing and marketing communications. She is currently a freelance writerauthor and ghostwriter for college-level business textbooks. Turner has also written for several top magazines and Web sites. This item ships from multiple locations. Your book may arrive from Roseburg,OR, La Vergne,TN. Bookseller Inventory # 9780471435938

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Synopsis: An insightful look at how Kmart's management destroyed the company
Kmart's Ten Deadly Sins spins an intriguing tale of the missteps of a retail giant who once had the industry in the palm of its hand and foolishly let it all slip away. This engaging book weaves corporate history in with financial analysis and commentary that leaves the reader with a better sense of where Kmart has been and what its potential is for a turnaround. This first in-depth examination of Kmart clearly identifies and discusses the ten missteps 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 Turner taps many of her vast contacts within the retail business community to get the inside scoop on what really brought this once mighty retail giant to its knees. Kmart's Ten Deadly Sins is written for readers who find themselves wondering how a company with such bright prospects could end up filing for bankruptcy.
Marcia Layton Turner (Rochester, NY) is the bestselling author of The Unofficial Guide to Starting a Small Business and The Complete Idiot's Guide to Starting Your Own Business. With an MBA in corporate strategy and marketing from the University of Michigan, she spent several years with Eastman Kodak in marketing and marketing communications. She is currently a freelance writer/author and ghostwriter for college-level business textbooks. Turner has also written for several top magazines and Web sites.

From the Inside Flap: News that discount giant Kmart was filing for bankruptcy in early 2002 sent shockwaves through the retail community. How could a brand as widely recognized and firmly fixed in our cultural lexicon be teetering on the brink of extinction? Depending on who you talk to, Kmartís fall from grace can be attributed to any number of factors. In the first in-depth examination of Kmart, author Marcia Layton Turner reveals the real reason behind Kmartís troublesĖbad managementĖand discusses how the large personalities and even larger dreams of Kmartís misguided leaders played a significant role in transforming this once profitable retail titan into a bankrupt behemoth.

Even though Kmart has emerged from bankruptcy, the truth is that the company has made a number of bad decisions throughout its forty-year historyĖsome seemed like good decisions at the time, while others were obviously off base. But what really hurt Kmart is the fact that most of these decisions were made by rogue managers who shirked their duty to shareholders and company.

Kmartís Ten Deadly Sins spins an intriguing tale of the missteps and miscalculations of a retail giant which once had the industry in the palm of its hand, and foolishly let it all slip away. Interviews with financial analysts, former employees, and industry observers, coupled with in-depth research of SEC filings, news reports, and background data, paints a clear picture of exactly how Kmart managementís thinking emerged as well as what went on behind the scenesĖand why.

Weaving corporate history with financial analysis and expert commentary, this engaging book identifies and examines the ten management mistakes, which ultimately brought Kmart to its knees.

Youíll learn how a combination of . . .

  • Brand mismanagement
  • Lack of customer knowledge
  • Underestimating the competition
  • Lousy locations
  • Ignoring store appearance
  • Technology aversion
  • Supply chain disconnect
  • Loss of focus
  • Changing strategies frequently
  • Repeating the same mistakes

. . . eventually ended Kmartís retail reign.

Kmartís Ten Deadly Sins digs deep to uncover the real reason behind Kmartís undoing, and will leave you with a better sense of the potential for its future. Can Kmartís management sins be forgiven? Maybe, but only time will tell.

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