You are the senior corporate management group of a privately held company that manufactures men’s clothing around the world for JCPenny. Your company has been hurt drastically by the amount of clothing for men, women, and children that is being produced in China and sold world-wide, thus drastically reducing your sales and profits. The company is own by divorced parents (they still maintain a good business relationship) and their adult son and daughter. Unfortunately, the family does not agree on the best way to react to this devastating competition. Develop a “Recovery Plan” that will return the company to profitability and ultimately increase sales so that overall growth will occur.
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