Reference no: EM133216959

Question 1: Who were the stakeholders involved in this change?

Question 2: Discuss what concerns different stakeholders might have and how communication is needed to address those concerns.

RESPONSE IS BELOW

For this discussion, one has chosen to reference the JCPenney company. The company as a whole has gone through many changes over the last 3 years, mostly in the hands of the stakeholders or the CEO. Ron Johnson was appointed CEO of retail giant J.C. Penney Company, Inc. in 2011. Johnson's vision was to reinvigorate J.C. Penney's tired brand. Johnson immediately began making the significant structural and pricing changes he felt would be most effective for the company and for its customers. He understood that customers were aware of the common retail tactic of inflating prices to provide greater sales. Johnson believed that customers would rather have consistently low prices than the "fake prices" J.C. Penney and other retail stores used. However, one felt that the overall focus was a bit off. One feels that the vision needed to be adjusted and disseminated down to the lowest level. Although the idea appeared to be a good one, in practice, his plan didn't hold up as well as he anticipated. J.C. Penney's sales plummeted and previously loyal customers chose to shop at other retailers instead.