Rite Aid

The fraud perpetrated at Rite Aid could have been detected through the reconciliation of liabilities with monthly statements from the creditors. By reconciling the liabilities with the vendors’ statements, the auditors would have been able to detect any omission of liabilities or the reversal of expenses as was the case at Rite Aid. Also, the auditors could have used analytical procedures such as ratios for the year of audit and compared it to prior periods to detect unusual patterns or trends. However, the fraud at Rite Aid had the support of management, which made it difficult to detect. In regards to the payment of the employees, I think that it helped to cover up the fraud. Money is always a good motivator. Moreover, there is usually…

There are numerous companies that fit the bill of falling short in implementing the marketing concepts, due to not focusing on creating, delivery, and communicating superior value to its customers. One company that comes to mind is JC Penney (Penney), as an iconic discount and sales retailer, where it made its debut in 1902 as the Golden Rule store (JC Penney, 2011). Penney survived countless strategic business challenges, but was able to maintain its existence, yet barely holding on…

SWOT Discussion Strengths: J.C. Penney will be offering complimentary services with the addition of the “Town Square” into all J.C. Penney stores. Already they have been offering free children's haircuts every Sunday which has drawn much customer interest to the company. The new unique layout of the stores that Ron Johnson is pushing through will make the stores easier to navigate through. Customers will also have a unique experience from any other store with the additions of “Town Squares”…

Company Introduction J.C. Penney Company, Inc. (NYSE: JCP) was founded by James Cash Penney in 1902 and has evolved to a holding company and retailer whose principal operating subsidiary is J.C. Penney Corporation, Inc. with 1104 department stores in 49 states and Puerto Rico selling merchandise and services to customers through department stores and online (Mergent Online, 2013). JCP sells a broad range of general merchandise, including apparel, footwear, accessories, jewelry, beauty products…

J.C. Penney Company Inc. is a company involved in operating stores across the United Sates and Puerto Rico. These stores sell a range of apparel, as well as, home furnishings, accessories, foot wear, hand bags, jewelry, beauty products and bath & bed products. J.C. Penney also provides services such as salons, photography, custom decorating, florists, gift cards and credit cards. Customers are able to shop and access the products and services in stores or online. Their biggest competitors…

They had a recent change in the leadership of JC Penney, Ron Johnson is a former Apple retail executive. He joined the company with looking into the strategy in terms of pricing and sales, he did this by signing up for email alerts. What he was shocked by all the response he had received (Kinicki & Williams, 2013, p. 184). Johnson was flooded with sales announcements, they sometimes even had two a day. After him and the team had got together and counted all the sales in the last year, they came…

Johnson needed to be a transformational leader, who led his team by example. He needed to foster inclusion, and developed trustworthy relationship. Similarly, Johnson needed to understand the culture of the organization, the values the company stood for. The first thing Johnson needed to do was to move to Dallas and become immerse in the culture and learn about the company, how they connected with clients, what was their mission, vision, and strategy. When he chose to use a private jet, he sent…

Once the largest department store chain in the country with over 2,000 stores, the 110-year-old retailer, J.C. Penney’s, was struggling to claim market share after the 2007 recession. J.C. Penney’s 2011 sales were lower than they were in the 1990s, and the retail landscape was becoming more competitive as new companies added specialty shops, online shopping increased, and Macy’s and Kohl’s were taking J.C. Penney’s business. As a result, Ron Johnson, the man responsible for improving the retail…

Rite Aid Corporation’s debt also includes 9.375% senior notes. The face value of these notes is $410,000. The current carrying value is $405,951. Carrying value or book value is the face value plus any premiums or minus any discounts. Thus, the difference between the face value and carrying value for these notes is due to an unamortized discount of $4,049. The cash interest payment on these notes during fiscal 2009 equals $38,438, and this number can be calculated by taking the face value of…

Bodily Movement: The movement within the service was smoothly done. I will acknowledge that there was a great deal happening during the service that required movement. The children’s dance set the tone for the movement to come. I did appreciate that the Rev. Kletzing entered via the center aisle rather from somewhere in the back of the church. The passing of the peace is always a nice opportunity for the people to greet one another. I am of two minds though, is it a nice break for the…