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Transcript of Ann Taylor
Company Overview Financial Assets Physical Assets Human Assets Intangible Assets Cultural Assets The company categorizes the candidates according to their competencies such as strategic, relator and achiever.
Customer service is number one.
Having Retail experience is always a plus.
Sales associates also receive on the job training.
Ann Taylor is an equal opportunity employer and employs various people from all part of the country and in some cases the world. Brand Names
AnnTaylor Sourcing Far East Limited,
AnnTaylor Travel, Inc.,
AnnTaylor Distribution Services, Inc.,
AnnTaylor Retail, Inc.
“I grew up loving
Ann Taylor. It was
an aspirational and
iconic brand that I
to wear. Sourcing
and producing a
that I want to wear
makes my job
enjoyable and fun”.
Sourcing, Ann Taylor loving WHAT WE DO Part II
Social Responsibility and the New Business Environment Vision, Mission, and Code of Ethics Social Responsibility The New Business Environment VISION
“Our 20,000 store, home office and global associates are dedicated to fulfilling our mission through our shared values: staying connected to women, embracing fashion first, putting our best selves forward every day and honoring our full lives. Our strong commitment to these values helps us put our clients first in everything we do”.
At Ann Taylor, we champion the modern working woman and her love of fashion in everything we do. For generations, we have striven to be her go-to style destination for every aspect of her life. Ann Taylor competes in the affordable luxury price category, and offers clients a high-quality collection of beautiful, wear-now pieces and a unique combination of fashion, work and flattering fit. The goal at Ann Taylor is to help our clients feel confident, feminine and successful.
CODE OF ETHICS
The Company’s business and reputation are dependent upon the integrity and high moral standards of every associate and director. However, these Guidelines do not attempt to encompass all possible situations — for that, we must rely on your good sense of what is right and prudent. We are committed to operating our business responsibly and thoughtfully, and continue to set high standards and forge strong
partnerships with our suppliers to ensure that our products are made in a socially and environmentally responsible manner. In
addition, we try to make meaningful contributions to our communities and seek to minimize our impact on the environment by
investing in new programs and innovations. Our brands reflect our passion for playing an active role in making the world a better
place and we take pride in supporting causes that are important to our clients and our associates.
Ann Taylor is currently developing its global shipping capability through its e-commerce site which will allow for shipping to countries outside of the U.S., specifically Canada. Part III
Capabilities Assessment Internal Analysis Step I Internal Analysis Step 2: Distinctive Organizational
*Loyalty Card/ Mastercard:
*Niche Market Career Casual
*Apparel for female only.
*Licensing brand name from third parties
*Changing client preference/ fashion trend
*Dependent on outsourcing
Internal Analysis Step 2:Distinctive Organizational
Capabilities Disadvantage Internal Analysis Step 3 -Product Design
-Quality Assurance Departments
-Information Systems Department Internal Analysis Step 4 Internal Analysis Step 5 Part IV
External Analysis: Porter’s Five Forces Model Current Rivalry Threat of Potential Entrants Bargaining Power of Buyers Bargaining Power of Sellers
Economies of scale:
Switching costs: The Bargaining power of Ann Taylor’s customers (buyers) is fair.
-Ann Taylor and the economy as a whole are facing though economic times. Customers during harsh economic times tend to be more price sensitive.
-This could force price cuts by the firm due to the increases in customer bargaining power.
-However, consumers have few alternatives to shop in the upscale specialty women retailers, reducing their bargaining power. -Majority produced by in-house designers which allows the company to posses quality control and develop unique merchandise assortments.
-Small percentage is purchased through branded vendors, although the quality assurance department reviews merchandise all specifications may not be met in time for shipment.
-There is also a threat of competitors possessing the same product assortment. Part V
External Analysis: The General Environment Economic Demographics Socio-culture Political Legal Political Legal Continued Unemployment rate:
8.2% (2012 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 30% (2007 est.)
Budget surplus (+) or deficit (-):
-7.6% of GDP (2012 est.)
Canadian dollars per US dollar: (2012 est.), 1.001 (2012 est.), 0.9895 (2011 est), 1.0302 (2010 est.), 1.1431 (2009), 1.0364 (2008) Ethnic groups:
white 79.96%, black 12.85%, Asian 4.43%, Amerindian and Alaska native 0.97%, native Hawaiian and other Pacific islander 0.18%, two or more races 1.61% (July 2007 estimate)
total: 37.2 years
male: 35.9 years
female: 38.5 years (2013 est.)
definition: age 15 and over can read and write
total population: 99%
female: 99% (2003 est.)
60th in world
2012 Median Income of US households was $45,018 - (54%) of U.S adults say they would reduce discretionary spending during an economic recession.
- (63%) of adults said they would not make a purchase if there was no deal attached.
The minimum requirements all suppliers must meet in order to do business with Ann Taylor are as follows:
Sign and return a copy of their Global Supplier Principles and Guidelines annually.
Permit periodic monitoring to asses and ensure adherence to standards. Laws and Regulations:
Wages and Benefits:
Working Conditions: Rapid e-commerce growth
Funding towards their website goes towards:
-Easier navigation for customers
-Better images/more views of merchandise
-More interactive all around for customers
There has also been a lot of buzz about an Ann Taylor App in the making. Technological Part VI
Strategic Formulation Part VII
Strategic Implementation Competitive (Marketing) We can start to accomplish this goal by featuring Sofia Vergara in the new Ann Taylor Ads.
The object is to increase both revenue and impressions by diversifying Ann Taylor's Reach. Strategic Implementation Part VIII
Strategic Evaluation Benchmarking
Social Media Followers
Loyalty Card Members Evaluation Works Cited Page -Multi channel initiative (internet sales)
-Strong brand awareness internationally (Canada)
-Loyalty/ Credit cards to ensure traffic & sales (80/20 rule)
-Credit protection measures
-Brand loyalty -AnnTaylor primarily operates in the US, which is going through recession currently. The company will have to appeal to new markets to increase its revenue.
-Expansion through acquisition or the establishment of new businesses is costly. The companies operating throughout the regions may not be available for expansion and new operations may not be able to find suitable sites for new stores. Entry into new markets gives rise to risks related to culture, markets, legislation, regulation and access to goods and resources.
-Appealing to other cultures domestically would increase market share and total impressions of the brand. Strategic Fomulation
CIA. 2012. https://www.cia.gov/library/publications/the-world-factbook/geos/us.html. 17 May 2013. "Consumer Discretionary Sector:Ann Inc (ANN:New York)." Speciality Retail Industry. Global Source Data. "AnnTaylor Stores Corporation (ANN) - Financial and Strategic SWOT Analysis Review." N.p., Apr. 2011. Web. <www.globalcompanyintelligence.com>.
"Businessweek." Www.bloomberg.com. Ann Taylor, n.d. Web. 01 June 2013. Ann Taylor. "Ann Taylor Human Rights Compliance Program." Ann Taylor Compliance Program. Ann Taylor, n.d. Web. 8 May 2013. Bloomberg Businessweek , 30 05 2013. Web. 31 May 2013. <http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=ANN>. Thank You