Swot Analysis Of Sears

Sears, Roebuck and Corporation, is a completely owned subsidiary of the Sears Corporation. It is one of the major retailers in the American market providing merchandise and other services related to it. There are more than 1320 branded stores of Sears Corporation in USA that serve a variety of merchandise through different catalogs like landsend.com, sears.com and other line catalogs. This makes Sears the largest and the top provider of home services with the installation calls reaching the company up to 14 million each year. Based on the company’s statement regarding its vision, mission and core values on would not even get the slightest hint that a company can get involved in a fraud and embezzlement of such a high level. Its mission statement

But it was hard to maintain competitiveness as the figures of sales and profits were rapidly decreasing and the overhead was at the same rate increasing. Many of the new credit card customers at Seas were unable to pay back the debt but Sears was not realizing this problem. In order to enhance the sales figure Sears was marketing its company products to the most risky and somewhat perilous customers of the stores. This paved way for a system that focused on lending money to those which were unable to completely pay back.. Of all the bankruptcy accounted in USA during the year 1997, Sears was found to be the major creditor of more than one third of personal accounts. In order to aggressively get back the back debts from its customers Sears began to sign illegal affirmations without seeking the permission of court. These illegal affirmations made customers to pay back the debts without following a legal procedure. The terms on the reaffirmation documents made the situations of its customer’s worse day by day. As stated in the case study, one of the customer says that he was able to pay back the Sears debt but unable to fee his children after

But then these mistakes took the form of serious consequence. A detailed 22 months investigation by FBI was carried and major evidence of the company’s illegal practices was found. The company had to bear a loss of $475 millions. The judge Carol Kenner remarked the actions of the organization as predatory in nature. The company seemed liking hunting its customers to pay back its debt at each and every cost.

ACTIONS TAKEN TO RESOLVE THE