CHAPTER 10 - MANAGEMENT FOR THE RETAILER

4 goals of regional store manager

1. maximize sale at a profit 2. motivate store employees 3. share successes from one store with another 4. communicate with corporate office

sole proprietorship

a business owned by an individual

physical inventory

actual merchandise in the retail operation, whether on the sales floor, on trucks for delivery to the stores, or in the warehouse waiting to be transported to the store units

regional store manager

also known as area or district managers, are responsible for directing the retail stores of a particular company that are located in a particular area of the country whether us or abroad, these regional managers are responsible for the smooth operation an dprofitability of the company as well as the success of employees in the retail outlets located wihtin a specific geographic are (often refered to as an area or district, region, territory) liasons between corporate office and retail stores in their teritory, they collaborate iwth store managers

customer service manager

assists customer with an issue or complaint and implements the retail operations policies and procedures for returns, exchanges, out of stock merchandise, product warranties, and the like responsibility to maintain company policies while assuring that customers feel their problems are being heard and taken care of in a professional and timely manner . the customer service manager often trains the sales staff to effectively assist customers with concerns and teaches them the people skills needed to calm irate customers and find win win situations for all involved high quality goods likely offer wide rang eof customer service like alterations and home delivery - however discount retail operations provide minimal customer services in an effort to maintain retail prices that are below those of its compeittor s

business plan

before opening a business tthe prospective owner or ownership group must develop a business plan - an document that details the plans for the business concept and target market, location and space needs , growth and exti strategies, sales and inventory, and financing needs, among others whehter the prospective entrepreneur is purchasing an existing business or opening a new one, securing funding to own the business is a critical first step

security

can have tremendous impact on the bottom - line- profit refers to safekeeping of merchandise in the store, as well as the safety of employees and customers because inadequate lighting, unsafe equipment, and poorly place fixtures can prove to be a safety hazards for people in the store, this is an important focus for the operations manager security not only protects physical items in store but als monitors against interal theft or pilferage

floor set

department managers - also maintain the sales floor by setting out new merchandise- adding signage for promotions , recording markdowns, and executing floor sets. changing floor sets refers to the moving fixtures and merchandise on the sales floor of the department to create a fresh look and to highlight new or undersold merchandise department managers work with sales associates to do this

funder

financing sources such as banks and small bsuiness administration, require a well-written business plan that justifies financing because of a good potential for profit, minimal risk , and long range potential

assistant store manager

helps the store manager in all of the daily responsibilities of successfully operating a store takes direction from the store manager and works closely with all of the other departments in ensuring that the stores mission and financial goals are met - in some cos- have specified responsibilities- such as scheduling employees, supervising sales floor moves, and monitoring sale and inventory levels support managers in all store management duties

security manager

in large stores, a security manager, may be employed to work directly for the operations manager, overseeing the safekeeping of merchandise in the retail store operation and minimizing theft works with operation amanger to determine which equipment will be used to deter theft such as tags, cameras, or security employee disguished as shopper

operations manager

in major companies, an operations manager reports to the regional manager or, in a very large co the national operation director of sales works with other administrators and store managers in developing marketing strategies and funding plans for merchandising and management personnel, as well as supervising stock replenishments, equipment and supply needs, and inventory control procedures. primary objective- develop and maintain effective programs to operate and control all of the retail units in the co, with a focus on superior customer service and cost control ex- may work to find a faster , less expensive way to move merchandise form central distribution warehouse to store units security is another area of responsibility

manager - in - training (MIT)

is jsut that- an employee who is being trained to move into a management position some large retail orgs offer an MIT program through which prospective management employees are trained for assistant manager or store manager positions iwthin the company diff between this and the executive training program- an MIT program is that most companies train the MIT on the job in one of the branch store locations vs a training facility at company headquarters

partnership

is owned by two or more people

entrepreneur

or store owner, is financially responsible for the company and oversees the retai lbusiness

retail store manager

oversees the activities of a retail stores operation, from sales transactions and advertising to special events and the stores people --- the customers and employees, including assistant managers, department managers, sales assocites, and other staff responsible for implementing the firms retail marketing and sales plans, while ensuring the efficient operation of sales, operations, and security within a retail location primary responsibility- are overssing sale promotions, transitioning merchandise form recieving to the sales floor, monitoring sales and inventory levels, managing personnel , and generating profits -they oversee the inventory ensuring that the store has the right quality , type, and amount of merchandise available - they also make sure supplies are reordered on time. set the tone for the store and share a vision of success and expectations about customer service, promotions , and store goals with all emplotees

department manager

oversses a specific area, or department, within a store ex- a department manager may be responsible for men's clothing , junior sportswear, or women's accessories for their assigned departments , department managers coordinate the sales associates in their areas , assisting with employee hires, scheduling weekly work hours, handling employee and customer complains and monitoring the performance of employees meetings where department managers report on weekly sales, discuss promotions, and talk about concerns or opportunites in their respective areas they also stay in close contact with the buying office, as they relay employee and customer feedback on merchandisse and advise buyers on reorders or possible voids in stock to help generate sales

internal theft

refers to merchansize or money stolen by employees within the company to minimize this- employees may be required to have personal purchases processed through the cash terminal by store manager rather than on their own

management

refers to the organizing and controlling of the affairs of a business or a particular sector of a business this chapter focuses on management carreers

shrinkage

seminars on how to spot a shoplifter, who to contact, and where to go for assistance when identifying a thief assit employees in safely combating shrinkage, or merchandise losses resulting from theft

3 types of business ownership

sole proprietorship partnership corporation

associate store manager

some co with large individual store units hire for a position that lies between the assistant store manager and the store manager

if sales are declinging the regional mangers work with store managers to

stimulate sales by implementing in store promotions or working with retial orgs headquarters on promotional campaigns

corporation

stockholders own the co , which may be run by an individual or a group

international store manager

supervises store sales and staff performance in a different country , or group of countries, not in the company's county of resisdence