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Macy's Term Paper

4526 words - 19 pages

EXECUTIVE SUMMARY
Macy’s Department Stores, Inc. is a large organization with many stores, departments, and employees. They have a quick employee turnover rate and high goal setting. They expect their employees to reach sales goals in set periods of time which causes stress amongst the ranks. Each department in a store is accountable to one or more managers, those managers have a floor manager and so on. Although it is tough to work for Macy’s, the goals they set have allowed them to thrive in the competitive department store world.
There are three levels to the makeup of a company. Each level has many independent variables; we will be focusing on one for each level. The first level is ...view middle of the document...

To the employees, it causes unneeded stress when their boss introduces his or herself more than once since they don’t even recognize their subordinates.
All of these independent variables are related to performance, stress, behaviors, service, and relations. They are the direct factors which impact our dependent variable, productivity. The absenteeism and turnover show the individual productivity, but the overall organizational productivity is measured through profitability. It is important to Macy’s to have profit so that they can open more stores, have a good reputation among consumers, and attract good employees to be hard working and meet their goals.

COMPANY BACKGROUND
Macy’s is a department store chain which currently sells clothing and accessories, housewares, home furnishings and furniture. In the past they have sold other products such as home electronics, books, pharmaceuticals, sporting goods, appliances and toys. Many of these were eliminated in the 1970s and 80s due to competition from other retailers, leaving the stores with the merchandise it still carries now. Macy’s has its own store credit card, which was introduced in the 1950s. Prior to that, they accepted customer payments in cash at the time of sale only, even when other stores were selling merchandise on credit. According to their 2012 Fact Book, Net Sales for 2011 were $26.405 billion.
Macy’s Incorporated has corporate offices in Cincinnati and New York. Their website indicates their total number of employees is approximately 171,000. There are “about” 800 Macy’s department stores within the United States (including Guam and Puerto Rico). The company also owns the 37 Bloomingdale’s stores.
Macy’s was established in 1858 as a “dry goods” store in New York City, founded by Rowland Hussey Macy. A larger variety of products were added as the business grew. Rowland Macy died in 1877 but the company stayed in the hands of his family until 1895 when it was sold to brothers Isidor and Nathan Straus, who until that point had been leasing Macy’s store space to sell chinaware.
Macy’s flagship store at Herald Square in New York City, which still operates today, opened in 1902 and for many years was the largest store in the world. In 1918, after the end of World War I, Macy’s began to open stores in other cities, starting with buying other stores in Toledo and Atlanta. In the 1940s Macy’s opened new stores in San Francisco and Kansas City, making it the country’s largest department store chain.
By the 1980s the Straus family’s ownership in Macy’s was down to 2%, and company president Edward Finkelstein led a leveraged buyout of the company, the first of any major retail chain. Macy’s filed for bankruptcy in 1992 after taking on too much long-term debt, merging with Federated Department Stores in 1994 where it returned to profitability. Federated formally changed its company’s name to Macy’s Department Stores, Inc. in 1996, and stores it owned under other names were converted...

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