Question

(MIN) 2-3 Page Elaborate Response Please -

Forever 21, Inc. has filed for bankruptcy protection, which means before Forever 21 liquidates its assets, it has a period of financial restructure time. The idea is for Forever 21 to restructure itself and perhaps come back and ultimately, not have to file for liquidation. Please read and do some research on Forever 21.

1) Define organizational culture

2) Imagine you are Forever 21's Chief Executive Officer. Tell me what kind of NEW organizational culture you will like to create for Forever 21 during this period of bankruptcy and

3) Tell me how you can implement your new organizational culture to all of the employees Forever 21 in all of its many stores.

Did they have a organizational culture before the bankruptcy or did they not ? heres what went wrong with the "current organizational culture".

Forever 21, Inc. has filed for bankruptcy protection, which means before Forever 21 liquidates its assets, it has a period of financial restructure time.

why did the company not see this coming?

please reread the questions if possible for a better understanding.

1) Define organizational culture.

2) Imagine you are Forever 21's Chief Executive Officer. Tell me what kind of NEW organizational culture you will like to create for Forever 21 during this period of bankruptcy.

3) Tell me how you can implement your new organizational culture to all of the employees Forever 21 in all of its many stores.

Answer 1

Forever 21 is a family run business, Do won and Jin Sook , being the co-founder are in the leadership. This couple has 2 daughters are assist them in running the business.

For restructuring, we can focus on focus which are more profitable and shut the stores which are less profit making or rather loss making. Exports can be increased as it may result in higher margins.