JC Penney's People Strategy: Setting the Right Climate for Human Resource Development |
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"We've been investing heavily in executive education and leadership training for our managers, strategic skills for our top people … we're very committed to being a great place to work, and we think the first thing [to] be a great place to work is [to be] a great place to investment your career. So we also think that'll have an advantage of changing, you know, lowering our turnover to the lowest in our industry."1 -Myron E (Mike) Ullman III, Chairman and CEO, JC Penney Corporation, Inc., in 2006. "Today's emphasis on culture change is shifting from stemming the bleeding of the last five years to paying attention to broad cultural adaptations that will deliver a competitive advantage."2 -Batia Wiesenfeld, Professor of Management at New York University's Leonard N. Stern School of Business. Setting the Right Climate
Ullman wanted to build a customer-focused culture at JCP. But in trying to do so, he met with significant challenges. JCP was a company with a long tradition of more than 100 years.
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1] "J.C. Penney Q2 2006 Earnings Conference Call Transcript (JCP)," www.retail.seekingalpha.com, August 10, 2006. |
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