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Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023

Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 Dillard's Inc Organization Information With its headquarters in Little Rock, Arkansas, the United States, Dillard's Inc. is a well-known fashion apparel retailer, beauty products, and home furnishings. With a long history stretching back to 1938, Dillard's has developed into a top specialty retailer, selling a wide range of products, including women's clothing, men's clothing, home furnishings, children's clothing, purses, and lingerie. The company runs a network of 277 departmental stores in 29 US states (Li et al., 2021). It also runs dillards.com, an online platform that serves an ever-growing customer base of online consumers. The secret to Dillard's success is its multi- channel selling strategy, which uses conventional physical stores and e-commerce to boost brand awareness and sales (Beavers, 2019). The company exercises agility in seizing opportunities in the shifting retail market thanks to its robust supply chain and higher liquidity position—however, challenges like high inventory turnover and fierce competition force Dillard's through constant innovation and planning. Dillard's continues to influence the American fashion retail sector by developing strategic products and seizing expansion opportunities in the e-commerce and fashion industries. Mission and Vision Mission Dillard's mission is to give consumers the best choice of high- quality products and outstanding service, making shopping memorable and pleasurable (Robertson, 2020). They aim to become the go-to place for fashion by providing modern and traditional clothing, accessories, cosmetics, and housewares that satisfy the changing needs and interests of their wide range of clients. Vision Dillard Inc. envisions becoming a top fashion retailer known for its stylish diverse product selections that appeal to clients of every demographic. They want to continue having a significant position in the retail sector while embracing

Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 continuously improving technological improvements and shifting market trends. Organizational Initiatives One of Dillard's Inc.'s key initiatives is strengthening its e-commerce platform and improving its online retail presence. The business is investing in technology and enhancing the usability of dillards.com as the facilitator. They are increasing the variety of products they sell online to accommodate the various preferences of online buyers. Dillard's is also concentrating on enhancing its packing and delivery processes to offer clients all around the United States a seamless shopping experience (Baudot, Dillard & Pencle, 2020). They also aggressively utilize social media and digital marketing to improve brand recognition among the tech- savvy customer base and generate traffic to their e-commerce site. Another major initiative of the organization is the continued innovation and collaboration with designers to offer limited-edition capsule collections. The company wants to draw in fashion-forward clients and foster an atmosphere of uniqueness around its products through collaborations with well-known fashion influencers and designers (Baudot, Dillard & Pencle, 2020). Dillard's promotes collaborations through various marketing platforms, both online and in-store, to capture the attention of its target market. These initiatives illustrate Dillard's drive to provide excellent goods and experiences to their clientele while demonstrating their commitment to remaining relevant in the rapidly changing retail market. Organizational Plans Type of Plan Description Type of Manager E-Commerce Expansion Plan Through technology developments and improvements to the user-friendly interface on dillards.com, Dillard's Inc. hopes to boost its e-commerce platform and improve its online retail presence. The plan calls for increasing the Marketing and Strategic Managers

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Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 selection of online products, enhancing fulfillment and shipping procedures, and putting digital marketing methods into practice. Launch of an Exclusive Capsule Collection Dillard's Inc. collaborates with well- known fashion influencers and designers to release unique and limited-edition capsule collections. The step draws in fashion-conscious customers and fosters a sense of exclusivity around its products. Merchandising and product managers

Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 SWOT Analysis Internal Factors Strengths Numerous Channels Selling Dillard's capacity to sell via various platforms, such as physical stores and an online platform, enhances its direct-to- consumers business and brand recognition. Supply Chain Network The company's effective distribution and warehouse system lowers operating expenses and supports effective store operations. Position in terms of liquidity Thanks to its stronger liquidity, Dillard has a competitive edge, which allows it to capture market opportunities. Weaknesses Inventory Turnover Ratio A lower ratio shows possible inefficiencies in inventory management, which could result in greater carrying costs and harm profitability.

Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 External Factors Opportunities US Footwear Market Thanks to the expanding US footwear market, Dillard's has a chance to boost demand and sales. Apparel Retail in the US Given the US's booming garment retail market, Dillard's wide range of product offerings has room for expansion. The online retail market in the US Thanks to the development of online retailing, Dillard's has a chance to take advantage of the rising number of online shoppers. Threats Rising Online Theft Risk The organization may incur increased security costs due to the rising risk of online theft, which threatens client confidence. Intense Competition Dillard's confronts fierce competition from established and up- and-coming fashion retailers, which could affect its market share and profit. Manpower Costs in the US US labor costs are on the rise, which could impact Dillard's operational costs and profit margins. Evaluation Unmet Needs

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Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 The rising need for environmentally friendly and sustainable fashion solutions can represent an unmet requirement for Dillard's. Customers search for brands that reflect their beliefs as they become more environmentally conscious. Although Dillard's sells a variety of goods, a focus on eco-friendly and sustainable apparel would present an unexplored chance to draw in a new group of environmentally aware shoppers. Competitive Advantages Dillard's offers several competitive advantages, including a significant offline and online retail presence, a well-known brand reputation, and a broad range of products. The organization can reach a large customer base because of its multiple-channel sales strategy. However, according to the SWOT analysis, other fashion-related companies, including traditional and online stores, offer various product selections and competitive pricing, threatening Dillard's market position. Competitive Business Initiative Dillard's could introduce a line of eco-friendly and sustainable clothing named "Dillard's Green Chic" to meet the unmet demand for sustainable fashion. This line would include clothing and accessories produced using eco-friendly procedures, ethically sourced materials, and eco-friendly materials. Dillard's may draw in environmentally minded clients and set itself apart from rivals by offering this distinctive product line. High-Level Timeline and Steps of Operation Market research: Find eco-friendly suppliers and materials through market research, which helps understand consumer preferences for sustainable fashion. Product Development: Work with designers and producers to develop the "Dillard's Green Chic" collection, ensuring it adheres to sustainability ideals and satisfies industry standards for quality. Marketing & Promotion : Create a thorough marketing strategy that targets eco-conscious customers and emphasizes the sustainability of the new collection. Online and In-Store Integration : Make sure the sustainable collection is seamlessly integrated throughout Dillard's physical shops and e-commerce platform to give customers a seamless shopping experience. Training & Education : Educate store employees to teach customers about the environmentally responsible practices of the company and the environmentally friendly features of the products in question. Monitoring and Customer input : Constantly monitor how the "Dillard's Green Chic" collection is doing, get customer input, and make the required adjustments to satisfy changing sustainability requirements of the clientele.

Jenifer Kephart MGTCB/526 Competency 1 August 4 th , 2023 References Baudot, L., Dillard, J., & Pencle, N. (2020). Hybrid organizations and an ethic of accountability: the role of accountability systems in constructing responsible hybridity. Accounting, Auditing & Accountability Journal , 35 (3), 598-626. Beavers, M. M. (2019). Ecological Wonder in Annie Dillard's Pilgrim at Tinker Creek. Li, J., Toriello, A., Wang, H., Borin, S., & Gallarno, C. (2021). Dynamic inventory allocation for seasonal merchandise at dillard’s. INFORMS Journal on Applied Analytics , 51 (4), 297-311. Robertson, S. K. (2020). Nygard seeks creditor protection after sex assault allegations against founder. Globe & Mail (Toronto, Canada) , B3-B3.

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