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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
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.
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)
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
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
Tierney, J. (2006). Smith & Hawken's Retail Renaissance. Multichannel Merchant, 23(12) (p. 56). Retrieved Friday, January 12, 2007 from the ProQuest Standard database.
What major technology change has had the greatest impact on the quality of your life?
... Shop Management,revised 1947 and republished 1964 as scientific Managament,New York: Harper and Row 1903
JCPenney is a chain of American mid-range department stores that is based out of Texas that started over 100 years ago. JCPenny has been successful for most of its time up until the last three to four years. The company is trying relentlessly to overcome the lingering effects of the makeover that former CEO, Ron Johnson, had implemented in order for the company to take a new direction in hopes of increasing sales. The new CEO, Myron Ullman, has taken a close look into the markets demographic segmentation along with the income segmentation in order to attempt to return the retailer back to its old self, which is to appeal to middle-market customers. A couple issues of major concern for the company are the dissolving of Johnson’s Boutiques, the price of their products, and overall revenue.
| |stores serve three primary customer groups: do-it-yourself customers who are completing projects themselves, |
The most important word of advice on how to manage a job in retail is to take care of yourself first. In order to succeed at your job, it is vital to maintain a healthy lifestyle. Retail work requires employees to be on their feet for long hours. It is necessary to stay hydrated and wear comfortable shoes during a rigorous shift. It is also essential to always take your breaks, no matter how busy the floor is. Working in retail can be hectic. You are constantly interacting with others. Breaks allow not only time for yourself but also time to unwind from stressful situations.
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).
Store managers were responsible for the grocery line, front-end department and general store operations but had little knowledge about merchandising, meat and produce. Instead, their duties included cleanliness of store, employee appearance, and sufficient checkout service and price accuracy. Store managers wanted to be trained in management skills to allow them opportunity for promotion to higher positions of district and regional management. With the original structure, store managers operation activities actually prevented them from learning these skills, such as merchandising. Frustration ran high with the store managers as the district store supervisors only focused store visits to assure that company operating standards were being practices, instead of training store managers to run their stores more efficiently.
Rajagopal. "International Journal of Retail & Distribution Management." Emerald. Emerald Group Publishing Limited, 2011. Web. 21 Feb. 2014