You are the new manager of a major clothing store that is facing a crisis. This clothing store has been the leader in its market for the last 15 years. In the last three years, however, two other major clothing store chains have opened, and they have steadily been attracting customers away from your store - your sales are down 30%. To find out why, your store surveyed former customers and learned that they perceive your store as not keeping up with changing fashion trends and new forms of customer service. In examining how the store operates, you found out that the 10 purchasing managers who buy the clothing and accessories for the store have been buying from the same clothing suppliers and have become reluctant to try new ones. Moreover, salespeople rarely, if ever, make suggestions for changing how the store operates, and they don't respond to customer requests; the culture of the store has become conservative and risk-averse.

1.1 Has the company adapted to its customers (stakeholders)?

1.2 Identify and discuss the management problems?

1.3 How would a project management aproach resolve the above problem?

1.4 How do you think the 4IR (Industrial Economy) would assist in the final recommendation?