Bed Bath and Beyond Business Analysis
Businesses have to adapt to the ever-changing economy. It is not much of a choice for business leaders to change elements of their organization to stay in competition with their peers. The hardest part, most of the time, is changing the people in the organization to develop the necessary outcome or goal. As a business leader getting rid of people or changing their job specifics is one of the many responsibilities they have to be comfortable performing. Organizations have to take into consideration their competitors, customers, shareholders, employees, and the community to make decisions. Change is an aspect that many people are afraid of. In the new millennium, organizational leaders have to embrace change for success. Whether the economy is declining or on the rise, adaptation to the fluctuation will drive a business to reach its goals. Some people question how do businesses in retail remain in good standing with many competitors. Each organization must put strategies and tactics in place to stay current and to customize their style of organizing things. Organizations aim to originate their ideas, but many often mimic the ideas of their peers. This technique is especially true with businesses in the same category of the retail industry. Retail organizations in the same category include Anna’s Linens, Bed Bath and Beyond, and Linens-N-Things. There are many retail stores, such as Walmart, Target, and Best Buy, but they fall into another category of retail. Bed Bath and Beyond Inc. is the largest retailer based in Union, New Jersey. It operates stores such as Bed Bath and Beyond, Harmon Stores, Christmas Tree Shops, and BuyBuy Baby. Bed Bath and Beyond have a domestic line and a home furnishings line. They sell bed linens, kitchen textiles, bath accessories, basic house wares, dinnerware, glassware, cookware, and small electric appliances at low prices. The Harmon Stores carry health and beauty care products. Christmas Tree Shops sell household items and gift wares. They also carry domestic merchandise and home furnishings including house wares, home décor, paper goods, food, and the seasonal products. The name Christmas Tree Shops often give people the idea that it is a seasonal, Christmas store, but CTS is much more than that. It is operational year round, providing home-based products and services year round. Bed Bath and Beyond has a total of almost 1,000 stores throughout the United States currently. Harmon Beauty is rebranding Harmon Face Values, and has approximately 45 stores consisting of health and beauty aids. Christmas Tree Shops has 70 stores. “In the beginning, founders Leonard Feinstein and Warren Eisenberg formed Bed-n-Bath in 1971, which is a small chain of specialty linen and bath shops in suburban New York” (Funding Universe, 1996, para. 2). Feinstein and Eisenberg realized that department stores were not as successful, and specialty stores were the answer to their prayers. Bed-n-Bath started with two 2,000 square foot stores in New York’s busiest strip mall area, and the stores carried designer brand products. “During the 1970s, Bed-n-Bath expanded at a healthy but unremarkable pace, and by 1985 the chain had grown into 17 stores located in New York, New Jersey, Connecticut, and California” (Funding Universe, 1996, para. 3). By this time, numerous other specialty stores were sprouting and making their way into the market. Feinstein and Eisenberg set themselves apart from their competitors by opening their first Bed-n-Bath superstore in 1985. The superstore was a big, revolutionary move for these founders. In comparison to the original store, these superstores were 10 times larger and offering 20,000 square feet of home furnishings and domestic products. The superstores carried Bed-N-Bath traditional product lines, and added more products. To gain an advantage over competitors, Bed-n-Bath offered every possibly item in every color and size. The average department...
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