Introduction
In this term paper, I will recommend short-term, intermediate and long-term strategies that Macy’s should adopt to ensure increased sales as well as reduce the cost of operation.
Short-term
Short-term strategies are those plans that a business wants to achieve with a short cycle, usually within months or a year. Importantly, short-term strategies aim at generating profits for the company, but they should pave the way for achieving long-term goals (Paley, 2006).
I would recommend Macy’s to consider rebranding and diversifying its products as a short-term strategy. Rebranding is cheap and achievable within months while adding product variety ...