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An Account of the Retail Manager's Duties - Essay Example

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Management: An Account of the Retail Manager's Duties as 'key holder" of an Outlet Instructor: Contents Contents 2 Introduction 3 The Retail Manager’s Account in Context 3 Key Performance Indicators for Improving the Business 4 Conclusion 10 References 11 Management Introduction Businesses are usually ranked according to the levels of performances that they register in the consumer market…
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An Account of the Retail Managers Duties
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Download file to see previous pages Some businesses find it very hard to register high number of sales. This usually results in losses to the business or profits that are not exactly up to the levels that had been set previously. Such sales are recorded as very low returns by the businesses and thus this may result in the business closing down. When a business is recording such low returns in the sales that it is making, it is said to be under-achieving (Cox & Britain, 2004). The Retail Manager’s Account in Context Under-achieving businesses are usually in a gradual process towards witnessing a major downfall. It something is not done about these businesses, the levels of the losses that are incurred are set to continue affecting the running of the business. For a small chain store such the one I am managing, the under-achieving sales are very dangerous. This might actually result in the eventual closure of the business as a result of poor sales (Taleo.net, 2012). These poor sales are usually witnessed because of the poor marketing that is being done by the store. In order to increase the sales of a business, it is important that the consumers are made aware of the products that the business is selling or the services that it is offering. This way, the consumers will be more knowledgeable about these products and thus their purchases will increase the sales of the business. For my store, there are a number of factors that have played a role in causing it to become an underachieving store. This position of the store is not just as a result of a single factor. The store has got a number of issues that it is facing. These issues are very crucial and affect the sales recorded at the store. One of the major factors affecting the store is the number of staff and their payroll costs. Much as the store is a small chain, the number of employees at this store is not up to the required figures. It is important that these members of staff be in the required number in order for them to work efficiently (Cox & Britain, 2004). The current number of members if staff in the stories less than the required number. Thus, the business activities in the store have been slowed down. Clients and customers are not getting the necessary services on time and this puts most of them off. Another issue that needs to be dealt with in my store is the sales plan. Looking at the reports indicating the achieved sales, it is clear that the store needs to improve on the sales plan. The strategies put in place are not giving the required feedback to the store. The sales plan is a very important and key factor in improving the sales witnessed by a business. It is this strategies that lay down the ways through which businesses can actually attract new clients and also be able to retain the previous ones. The sales plan also gives the management of the business an idea of how it should control its marketing and the areas where it needs to pay a lot of attention in. this is important for any business in order to give it a sense of direction. For the store under my management, the sales plan needs to be improvised if at all an increase in profits is going to be witnessed. This is one area that I have to put a lot of concentration in (Stanley, 1999). Key Performance Indicators for Improving the Business In order to improve the sales of an underachieving business, it is very important to ...Download file to see next pagesRead More
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