Loss Prevention Development - Essay Example

LOSS PREVENTION Area of interest and problem/phenomenon to be studied: Safety measures have been given the topmost priority. All the cities are under heavy security. Surveillance is the one of the safety measures employed to check criminal activities. Though sometimes these activities may breach privacy policies of the citizen's but people and retail and other companies should understand that it is for their own good. Loss Prevention development activity was concluded to be very slow process since it would involve money and time and also down time for several business applications. Even renovations take time. But the needs for this type of office development come with its demand for prevention of crime and withstand the tougher laws. During the percent of the population residing I rented homes. Every other person wants to have his or her own company then each small thing regarding security becomes vital. While setting up an office, land value was not at all a constraining factor for the businessmen. The important elements of marketing plan are to precisely define the business, identify the goals and serve as the firm's resume. Pro forma balance sheet, an income statement, planning precise strategies, security and cash flow analyses comprises the basic components of a marketing plan. Preparing a marketing plan helps in the allocation of resources properly, making good decisions and handling of unseen or unexpected complications that may become hurdle in the future development of the business. One of the important aspects of marketing plan is that it provides organized information about the company and importantly a good business plan helps in attaining a loan application. Other important applications include informing the details of the company to the sales personnel, suppliers and others so that they become aware of company's goals and achievements. 2. Questions & Hypothesis Retail business is a hugely profit making business. It is one of the booming businesses that have given fruitful results to those who invested to gain profits. A retail business can give good results if the infrastructure of concerned shop, market or trade is good. Basic facilities like water, electricity, food and shelter should be sufficient. Retail prices will increase when the land is in the center of the city, or in industrial areas, or in residential areas. Infrastructure of the city or town plays an important role because those are the basic amenities that an investor would look into, before buying the land. Lack of infrastructure and basic facilities would lead to downfall in prices of the land and investors will lose faith and retract the investment. This would be huge disaster for any businessman. Therefore before putting a land to sale check the basic amenities and infrastructure and the price of the land accordingly. Retail business has become a hotspot for retail businessmen domestically and internationally. The main reason for this is the presence of strong infrastructure, marketing and good facilities like electricity. One of the important factors that have increased the retail corporate is the high rate of ownership. A general definition of valuation of property is to state the actual value of the property both according to the government and private (commercial) sector. While valuating a property government will not consider the commercial demand that property is possessed with. Apart from state owned properties commercial and residential properties are in boom these days. Resident localities are fast growing and becoming some of the costliest living areas. Commercial properties that fetch income are of many kinds. Commercial show rooms and establishment of corporate offices are touching the heights of the retail business. Commercial show room owners are ready to pay any amount of money to get a place in the most commercially viable areas. One of the important things among retail companies is transportation of goods. For transportation these companies depend on companies like DHL, UPS, etc. The employs working with UPS are sure that fly with high energy levels and without most efficiency. One of the main reasons behind a huge success of UPS is that it works independently whereever it offices are located. It does not depend on any allied agencies or franchisees or marketing companies. The strength of the companies had in its unity and discipline. In UPS discipline is a must for any employee. Every employee of the company works for the company and not for his personnel growth. They believe that the growth of the company is the growth of the employees. The employees are paid very high and handsome. 3. Locating the problem/phenomenon in the literature: To stay in the present marketing world a company should have good customer support services. The competition among companies is high and they to stay at the top they are using aggressive marketing strategies. The operational management and the Human Resource (HR) departments have a bigger role to play in the development of the respective companies. The quality of the product should always be of high standard. The service side concentrates mainly on providing services to the customer. Customer care section plays an important role on deciding how good a company and should be taken seriously at all times. To become a multinational company the management has to expand its units across the country. As company and its other units are slowly expanding so does the problems are increasing day by day. One of the important factors that should be concentrated is on customer care service. The staff should be trained and should be at best when dealing with customers. The quality of the service should be of high degree. On the security side the company has to speedup its operations whatever in its power because if it won't meet the market demand it would loose potential ground. The best way is to take the help of security agencies and following some basic security measures so that business continues and after completion of manufacturing they can introduce the goods into the market. Since costs are soaring high remedial steps should be taken immediately. Whether we agree or not the daily rise in prices is due to increase in oil per barrel in the gulf. Alternate steps should be taken to cope this problem. One suggestion is to cut the jobs, which is ethically incorrect. Other option is to shift the production base to any other place that offers the basic facilities at cheaper rate. In other words outsourcing is the best way to deal with rising costs. The HR division plays an important role in any organisational plans. It is the think tank of the company; they are the one who takes important decisions that comprises the management. Able and qualifies managers are the heart and soul of the company; therefore recruitment of qualified personnel is the requirement that should be fulfilled immediately. 4. The analytical Framework The company general mangers prepare a report by extracting the required data from various systems of the shops and create management reports using a word processing application. This report is submitted to the group-managing director that would be analysed to make any changes in the daily activities of the company. The only solution to this is have a central reservation system or else the company has to face the problem of overload and wasting of time in processing the checking out of the customers. The staffs are unaware of the activities until the customers show up. This creates a friction between the staff and the customers and becomes a headache to the front office manager. Further more it is dampening the company's reputation and operating figures. Due to the time taken to process the bills and questions arising from security, mainly from the communications systems. These are the major problems that have to be dealt immediately or else they will hamper the future plans of retail companies. The retail companies should introduce a system called kiosk for security purposes. To save time and to concentrate more on customer care services, save business travel time and giving independence to have control over simple things such as surveillance, controlling systems from one point, etc., kiosk could be used. The working process of the kiosk is very simple: just swipe the given swiping card and the staff would get the required assignment and a key card from the machine. This system would be of much help to the staff. It saves business-travelling time and the staff can cater more on valuable customer care services. 5. Methodology: Qualitative research methods are more often used as it involves observation of data that helps in finding solutions to the problems. Qualitative research has been categorised into three categories named as positivist, interpretive and critical. Positivist research methods involves attempt to test theory that to understand the predictive element of the phenomena. It involves formal propositions, hypothesis testing, measuring of quantifiable variables, etc. In this type of research it is assumed that the objectives are given in reality and can be measured by their properties. Interpretive research method involves sharing of information and social constructions such as language. Interpretive method is used to understand the meaning of the given information that was assigned to the researchers. Critical research as the name implies concentrates more on the critical view of the subject. It highlights the critical viewpoint of the situation that has to be analysed. Another important feature developed by the researchers was reverse engineering. In reverse engineering the work is done from final stage to the initial stage. The main purpose of reverse engineering is to extract the code from the final product, working on the final product to the scratch. By using reverse engineering technique one can extract their competitors application and introduce own application in the market accordingly. 6. Proposed sections: Action research and Case study research methods are as important as above-mentioned methods. The action research method describes what problems an organisation is facing; what appropriate steps should be taken to resolve these kinds of situations. It is more often action-oriented method. Case study method involves studying the main object of the organisation, how the situation is related to the real life context, etc. Case study can be positivist, interpretive and critical. A qualitative and quantitative research is must in developing an Information system. Qualitative research is more of collecting data, conducting interviews, using documents and to understand and explain social phenomenon. Quantitative research involves is of development of natural sciences to study natural phenomenon. Survey methods, formal methods, econometrics, etc., are some of the examples of quantitative research. Standalone PCs will have an adverse affect on the development of the company. These PCs should be interconnected with a network connectivity that should work 24 hours a day so that there is no interruption in the working. A marketing plan helps as a management tool in tracking, monitoring and evaluating the progress of the business. It gives a realistic and hands on experience on developing management skills and gain knowledge on different aspects of management. Business plan with a proper security helps in establishing timelines and milestones and compare theoretical projections to the realistic accomplishments. References Michael D. Myers. Qualitative Research in Information Systems. Retrieved 31 August 2006 < http://www.qual.auckland.ac.nz/>. 1997. Read More