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Concept Paper - Assignment Example

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It no longer is limited only to the traditional tasks of managing, supervising and controlling, but has moved beyond that to include the task of leadership as well. Most of the retail companies…
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Download file to see previous pages This results in a gap in their performance as they attempt to perform their role as a leader. (Boak, 2001) The context of my study is to evaluate the need for the restructuring of leadership training in retail management.
The need for competent leaders is a bare necessity in the modern retail industry and an essential pre-requisite for its sustenance and growth. The need for able leadership in the retail sector was upheld in the ‘Retail Davos’- the Retail Leadership Forum held on the 13th and14th of September 2011. This event hosted by the global business advisory giants like Goldman Sachs, Korn/Ferry International and OC&C Strategy Consultants, discussed the role of leadership in the modern era of retailing. According to the speakers at the forum, the retail leaders in future will require “a new set of leadership skills in order to adapt to the changing dynamics in the fact paced industry.” (Harrison, 2011) This has become a pressing issue on the regional as well as global level. And this is what makes this research problem a matter of substantial business interest.
In the present business era marked by fierce competition, many global and local retailers are awakening to realize their most critical survival challenge in the forthcoming years. Already caught in the cobweb of competition, pricing, consumer preferences and global extension, the new challenge that has baffled the retail industry is the need for competent leaders. (Florida, 2006; Higgs, 2001; Stalk, 1992) The retail heads across the world have understood that in order to achieve successful organizational growth, it is vital to find and engage the right leadership. (Lengnick-Hall, 2003; Shim, 2002) Studies in retail leadership conducted by Korn/Ferry in collaboration with the World Retail Congress have shown that the lack of right leadership talent can severely affect the development and expansion of retailers, thereby hampering their business growth. (Morel-Curran, 2008) My study ...Download file to see next pagesRead More
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