Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sonia Syngal was appointed President and Chief Executive Officer of Gap Inc. in March of 2020. In an interview with the Stanford Graduate School of

Sonia Syngal was appointed President and Chief Executive Officer of Gap Inc. in March of 2020. In an interview with the Stanford Graduate School of Business, Syngal directly addressed the 70% loss of revenue and $140 million in cash spending per week that occurred at the height of the COVID-19 pandemic, and how she plans to lead the executive leadership team to redefine their purpose. Syngal emphasized the decision to become "inclusive by design" and to use that as Gap's guiding North Star as it makes decisions, both big and small, going forward. Gap, previously known as The Gap Stores, Inc., seeks to become the most inclusive company in the world through implementing an action plan focused on strengthening employee, customer, and community belonging. The company uses something called the Authenticity Equation as a framework for its inclusive decision-making. The framework uses three components of authenticitya considered approached, a connected process and output, and consistent engagementto ensure Gap's brands and products manifest its promise. Implementation of this framework is mapped out in Gap's Power Plan 2023 strategy, a three- year vision put forth to grow purpose-led billion-dollar lifestyle brands that shape people's way of life and deliver consistent growth through

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Writing For Hospitality

Authors: Peter Nyhiem, Vivienne J Wildes

1st Edition

0131715712, 9780131715714

More Books

Students also viewed these General Management questions