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Importance of retailing to the economy
Three strategies for retail management
Importance of retailing to the economy
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An important business man once said, “There’s an enormous number of managers who have retired on the job” (Retail Industry.About). That is a great phrase that is thoroughly true. Many managers are there simply to get a paycheck and not to actually fulfill their duties. Retail management drives sales, lead associates, manages company programs, provide candid feedback, and ensures that customers and our associates are always number one.(Sales Manager) In order to drive your sales the customer must always be your top priority. Management, no matter where you go, keeps a business running smoothly.
The main job of a retail manager, specifically JCPenney, is supervising sales associates and participating in the Customer First program (Department Supervisor). This policy is implemented through managing associates in their assigned areas. It is also performed through the MOD shift. MOD stands for Manager of the Day. Supervisors and different levels of management perform the MOD shift, typically in four hour time frames, however that does vary. The MOD is responsible for a number of tasks that ensure that the customer is always number one in the store. These tasks included but are not limited to, walking every department, creating a good atmosphere, resolving customer issues, greeting everyone, checking dressing rooms, and managing associates.
An important duty that is vital to the store is supervising and implementing the Door to Floor strategy (Department Supervisor). Door to Floor is a team that pulls all merchandise off the truck and scans it on to the floor. A supervisor or another member of management is responsible for completing shipment planning worksheets. Shipment planning worksheets should be completed in accordance with S...
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...Running a Business." Retail Industry - Retail Stores, Sales, Management, Marketing, Jobs, Companies, Trends and Analysis in the U.S. and Global Retail Industry. 30 Oct. 2011. Web. 08 Feb. 2012. .
"JCPenney Position Description." Department Supervisor. JCPenney, Print.
"JCPenney Position Description." Sales Manager. JCPenney, Print.
"Retail Store Manager Job Description Sample." Recruiting and Hiring Advice. Monster, 2012. Web. Feb. 2012. .
Romanosky, Neil. "Retail Managers." Encyclopedia of Careers and Vocational Guidance. 13th ed. Vol. 5. New York, NY: Ferguson, 2005. 293-96. Print
(The retail industry main aspect includes small stores that sell products directly to consumers. Mike took over the lease of a building and wanted to transform it into a fully functional department store that offered a variety of products.)
From the employees’ perspective; they are managed someone with experience in their same specialty who can effectively understand and review their work. Furthermore, they can move up within organization, which gives a reason for them to be loyal to the job. They also have the opportunity to work with others in their field, which allows for knowledge sharing and learning new skills. From the managers’ perspectives; this would make their jobs easier and makes them able to supervise the individual’s performance of their team members to distribute recognition, rewards and punishments accordingly. This has created an environment that hugely corresponds with Target’s core strategy, differentiation. Many of the shoppers have expressed their satisfaction with the services that provided by Target and more specifically with how friendly the staff
Levy, Michael, Barton A. Weitz, and Dhruv Grewal. Retailing Management. ed. New York, NY: McGraw-Hill Education, 2014. Print.
Since 1901, Walgreens has had a strong passion for customer service. The founder, Charles Walgreens, goal was to create a drugstore that was like no other. He said that for as many drugstores as he had worked at, he had never worked for one that had a focus for good customer service and low prices. Walgreens has grown by leaps and bounds since 1901 and is now recognized as the leader in the market with over 7000 stores. Charles Walgreen had an eye for good managers. He said he was able to pick people that he knew were smarter than him so to promote them and make them the heads of his drugstores. As a store manager, not only is it your job to run a store which includes ordering, customer care, and inventory control, but also it is your job to manage the staff. As a part of managing staff, it is their responsibility to hire, train and develop, and terminate if need be. While there are many jobs to choose from when it comes to HR and employee staffing, I choose this one because it is by far to me the most intense.
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
| |stores serve three primary customer groups: do-it-yourself customers who are completing projects themselves, |
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
What exactly does it take to create a successful leading retail store? So many companies are in competition of gaining the shopper’s loyalty they end up neglecting other important aspects. A perfect retailer has to balance out high-quality, attractive prices, customer loyalty, and an enjoyable environment. “Target has experienced considerable growth in the last decade because its stores offer fashionable merchandise at low prices in a pleasant shopping environment.” (pg42) “It has developed an image of ‘cheap chic’.” (pg42)
Macy’s believes that going into this business will strengthen their associates’ selling skills, recruiting new talents, increased direct supervision, and offering higher quality products. It was such a success that Macy’s rolled out this concept to 300 other locations in fall of 2016, and planned on incorporating it to the rest of their stores by the end of 2017. In an attempt to reach out to new markets, Macy’s entered in a joint venture with a Hong Kong retailing company. Macy’s own 65%, while Fung Retailing Limited will own 35% in this online venture in China. This purpose of this venture is for Macy’s to penetrate a foreign market with the help of a host’s country company to avoid running into any problems while conducting business. It
In fact, it is the culture of motivated and empowered entrepreneurial employees that makes Nordstrom’s culture unique (Spector & McCarthy, 2012). There are less rules and procedures for Nordstrom’s sales personnel than in other retail organizations. Their sales clerks also operate with a certain level of autonomy, running their departments almost as if they are private stores (Mello, 2015). This overall strategic approach to HR keeps training costs low, and consequently the cost of turnover is also minimized. This is important, as Nordstrom’s turnover, due to the level of internal competition and entrepreneurialism this type of retail strategy requires, is one of the highest in its market (Mello, 2015). The high turnover rate makes HR planning an important factor in ensuring a stable workforce that can create and maintain ongoing customer relationships (Spector & McCarthy, 2012).
What major technology change has had the greatest impact on the quality of your life?
Tierney, J. (2006). Smith & Hawken's Retail Renaissance. Multichannel Merchant, 23(12) (p. 56). Retrieved Friday, January 12, 2007 from the ProQuest Standard database.
... Shop Management,revised 1947 and republished 1964 as scientific Managament,New York: Harper and Row 1903
Imlay, T. (2006). Challenges in today’s u.s. supermarket industry. Microsoft Retail and Hospitality, Retrieved from http://msdn.microsoft.com/en-us/library/aa479076.aspx
Retail work is best known for low pay, difficult customers, and long shifts. Although this is at times true, retail work can teach people valuable lessons and skills that are used on and off the job. As a Sears sales associate, I spent my last summer working in retail, enduring both tiresome hours and demanding buyers. Through this experience, I learned tricks and skills that are useful to survive a job in retail.