Penney (JCP) is perhaps a perfect illustration of the nature of change and the cost of failure. However, the failure rate of many change initiatives in organizations is alarmingly high, which could prove detrimental to the organization since change initiatives cost money, financial resources and utilize both physical and human capital. From new technologies, changing market demands and internal need for growth among other factors, many organizations are in a constant state of change. Modern day fast-paced organizations are such that change is ever-present. Penney Change Management Strategy Introduction