Coach Inc. ‘s organizational structure is designed around five specific categories, all which play a very important role in the success of the company. Marketing Coach Inc. s marketing strategy is to deliver a solid message each time the customer comes in contact with the Coach Brand, through creative marketing, visual merchandising, and public relations. Coach Inc. Has factory stores providing more affordable merchandise for all target markets (Powell 2013, p. 4). Coach Inc. Also has state of the art customer and market research capabilities, that enable them to understand customer trends, and measure whether or not, a product has a chance to be successful on the market before it’s introduced. Along with promoting a strong lobar image, Coach Inc. Sees a state of the art customer database, and customer knowledge to target specific products and customers, in order to boost sales. Human Resources The Human Resources department for Coach, Inc. Consist of non-employee directors, hand-picked yearly by the Board, who have been determined by the Board to be independent, as defined by the published rules of the New York Stock Exchange, and the Company’s Corporate Governance Principles, as such requirements are interpreted by the Board of Directors in its business Judgment (Unknown 2013, p. ).
The Human Resources Department also actively builds relationships with its customers, as well as the extended HER community, in order to fully understand their needs, requirements, and suggestions. HER is responsible for talent recruitment, Job performance management, and employee development. Accounting The accounting department at Coach Inc. , is very essential to the business operations and success of the company. This department is responsible for keeping record of all company financial statements, preparing monthly estimates for a unconsolidated and cash flow, and comparing actual results to the estimates.
The accounting department at Coach Inc. Also performs account reconciliations, prepares financial reports for management, develops process improvements within the financial environment of the company, oversees the monthly consolidated close process, works with independent auditors on year-end audit and quarterly reviews, as well as, communicate and partner with many other departments, including the financial planning, tax, and treasury departments. Finance The finance department at Coach Inc. Responsible for identifying and evaluating new business opportunities, negotiating contract agreements, and managing partner relationships in order to generate revenue. This department also manages and coordinates activities of key stakeholders, to ensure the success of new partnerships, aligns organizational resources to support a changing business environment, and incorporating business development into the financial reporting and planning process.
I am well aware of the extensive amount of responsibilities this department is tasked with, which is why the finance department at Coach Inc. s one of the most important departments to the company. Operations cases, footwear, wearable, Jewelry, sunnier, travel bags, watches and fragrance (Hisser 2013. P. 1). As America’s premier accessible luxury accessories brand and leader in international markets, Just as it is for any other large company, Coach Inc. ‘s way of operating is vital to the success and reputation of the company. Coach Inc. Prates in two segments: North America, which includes sales to North American consumers through company operated stores, including the internet, and sales to wholesale customers, distributors and international stores in Japan and China, including the internet, Hong Kong, Macaw, Singapore, Taiwan, Malaysia, and Korea, as well as, sales to wholesale customers and distributors in 25 countries. Impact of Technology Technology has played a big role in the success of Coach Inc. , being that quite a bit of the company’s earnings come from internet sales and advertisement, making it easier to target new customers worldwide. With Coach Inc. Ewing an established global brand, strong demand for innovation in technology remains high. There’s even hone applications that allow shoppers to browse Coach Inc. ‘s website, for items that aren’t stocked in the stores. The internet has also made it easy for Coach Inc. To display a broader variety of merchandise, and it gives the customers more choices in styles and/or colors. There is also a negative impact from technology. Along with the huge success of Coach Inc. , comes counterfeiters, and some of these counterfeiters are very good. This problem costs the company millions of dollars, and is virtually impossible to eliminate.
New York-based design brand Coach Inc has renewed its Memorandum of Understanding (MOM) with China’s largest e-commerce company, Alabama Group Holding Ltd, to take further steps against counterfeiting on Alibi’s e-commerce site Taboo (Wee 2013, p. 1). Basic Laws of Economics The business state of Coach Inc. Relies heavily on the state of the economy, because all increases and decreases in the economy, affect customers. When the economy is doing bad, workers are laid off or fired, businesses downsize, and consumers spend less cash, due to fear caused by economic uncertainty, which means Coach’s sales will not be so good during this period.
When the economy is doing well, Jobs are plentiful, and people are spending cash more freely. Conclusion Although this was by far the toughest subject Eve ever researched, it turned out to be fun, and I learned quite a bit about Coach Inc. And their products. Coach continues to expand its operations to more countries, in order to effectively compete in the global market, with the aim of achieving Coach’s mission: to build their brand worldwide, while creating stockholder value. When I began this project, my main focus was to find out why my wife is so fascinated with Coach Bags, and not only did I mind this out, but I fully understand why.