Type: Business
Pages: 2 | Words: 485
Reading Time: 3 Minutes

Kohl’s Department Store was first established in 1962 by Maxwell Kohl. However, before 1962, the store was a supermarket, but later it became a store. The stores headquarters is at Wisconsin, where the first store was opened. Through the years, the stores have been experiencing massive growth leading to more than one thousand stores opening in America. The stores sell almost everything ranging from foodstuffs to sporting equipment and hardware products. Due to the economic recession, the store has been closing most of the unproductive stores while opening and merging with other companies to ensure maximum profitability. Therefore, an analysis of Kohl’s Department Stores has been done.

Mission, Vision and Primary Stakeholders. Kohl’s Department Stores are changing their mission for purposes of increasing their brand across America. However, they have a main mission that they currently refer to while formulating new strategies. First, they want to create a niche in the market. In this case, they want to have unique products so as to enable their customers to have a shopping experience. In this case, they are creating stores for each of their products where the customers can have a variety of goods and services to choose. Additionally, they are improving the customer care department as part of their mission to help their consumers to obtain customer experience while they are shopping at Kohl’s Department Stores. Their mission is best described by their mission statement ‘Niche, Products and Customer Shopping Experience’.

Kohl’s Department Store vision started as a store where customers can gain access to foodstuffs and at the same time, they are able to access other products like sport gear, hardware equipment or furniture. In 1962, this vision was first realized, when the initial department stores was created. Currently, their vision is to ensure they cover all corners of America reaching to every customer in America who loves shopping in one area for every product. Presently, Kohl’s Department Stores is on the verge of achieving this vision because it has more than one thousand stores across America. In the process, their vision is to create an enjoyable shopping experience to all American consumers. Therefore, their vision helps them in achieving the company mission and strategies.

The primary stakeholders of Kohl’s Department Stores are owners of the company. They are the main stakeholders of the company. Secondly, the suppliers of the stores are also the other primary stakeholders. This is because they are involved in the primary operation of the business. Finally, the customers are other primary stakeholders of the store. Without the customers, the store would close down immediately. For this reason, all these stakeholders have to work together for the success of the store.

How Five Forces of Competition Are Affecting Kohl’s Department Store. According to Porter, five forces affect competition in an industry. In relation to Kohl’s Department Store, these forces are affecting the company. These forces can be drawn into a diagram as stated below.

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