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In assessing reasons for corporate failures, K-Mart stood out as a prime example. Not only was an external factor reason for bankruptcy, but more importantly many internal factors. First off, K-Mart had been facing a long-term external factor of competition before filing for bankruptcy January 22, 2002. Unable to keep up with the pace, competitors such as Wal-Mart and Target caused a cut in the company’s profits. Moreover, K-mart could not grasp the consumer’s eye with products or signs due to poor marketing. I believe their strategy was merely to have the best products at the lowest prices, but their reaction to opposition was too little to late. In addition, because of K-Mart’s competition it is obvious they made numerous costly decisions within the company.
Approximate Word count = 434
Approximate Pages = 1.7
(250 words per page double spaced)
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