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Kirloskar Institute of Advanced Management Studies,

Harihar, Karnataka.

2012-2014

Assignment on Managing the Stores

Submitted to

Prof.Krishnamoorthy.V

Submitted By:-

Swapnil Bhosale (12)

Vikas Kalani (99)

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www.youtube.com/watch?v=xtGTFbm51zs

Store Managers Responsibilities

Varies dramatically By Type of Retailers Specialty Store vs. Department Store

Specialty Store:-Customer Service, Staffing, Merchandising/Visual Display, Planning,

Communication

Entrepreneur

P & L Responsibility Manage People

Responsible for Two Critical Assets

People Sales/Employees Space Sales/Square Foot

http://www.youtube.com/watch?v=xtGTFbm51zshttp://www.youtube.com/watch?v=xtGTFbm51zs

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Job Analysis:

Job Description:

The activities the employee needs to perform The performance expectations expressed

in quantitative terms A guideline for recruiting, selecting, training and evaluating employees

Steve Mason/Getty Images

Approaches for Locating Prospective Employees

Look beyond the retail industry Use your employees as talent scouts

Provide incentives for employee referrals Recruit minorities, immigrants and older workers Use your storefront creatively Jack Star/PhotoLink/Getty Images

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Selecting Applicants

Application Forms References Testing Providing a Realistic Job Preview

Legal Considerations in Hiring and selecting Employees

Equal Employment Opportunity Commission (EEOC) Age Discrimination and Employment Act

-Disparate Treatment

- Disparate Impact

Americans with Disabilities Act (ADA)Socializing and Training new store employees

Orientation Program Training

- Where, when, what

- Structured vs. Unstructured

- Classroom vs. on-the-job

- Analyzing Successes and Failures

Motivating and Managing Store Employees

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Leadership

Is the process by which one person attempts to influence another to accomplish somegoal or goals

Leader Behaviours-Task-Oriented

-Group Maintenance

Types of Leaders

Autocratic Democratic Transformational

Setting Goals

How high the goal should be set? How easy it is to achieve?

Employees participation is important for setting up the goals.

Why Set Goals

Employee performance improves when employees feel:

That their efforts will enable them to achieve the goals set for them by their managers

That theyll receive rewards they value if they achieve their goals

Individualized Motivation Programs

Impact of goals differs across people, different People Seek Differ Rewards.

-A La Carte Reward Programs

- Selection of Compensation Plans should be carried out

Maintaining Morale :

Meetings before store opening to talk about new merchandise and hear employee opinions.

Educate, set sales goals and have a pizza party when goals are met.

Divide charity budget and ask employees how their share should be used .

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Print stickers - auto detailed by Rob.

Give every employee a business card with the company mission statement printed on the

back.

Evaluating and Providing Feedback to Employees

Who, when, how often? Should the evaluation should be done

Feedback should be given that should consist of performance outcome vs. process

Format for evaluations:-

Example of sales person evaluation

Evaluation errors:

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Compensating and rewarding store employees:-

Rewards:

Extrinsic Rewardsare rewards provided by either the employees manager or the firm suchas compensation, promotion and recognition.

Intrinsic Rewardsare rewards employees get personally from doing their job well like doing

their job well because they think it is challenging and fun

Compensation Program;

Type of compensation program-

Straight salary Straight Commission Quota bonus

Setting quotas Individual Vs Group incentives

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Designing the Compensation Program

Legal Issue in Compensation

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Controlling Costs

Labor Scheduling

It is the determination of number of employees assigned to each area of the store. It is

difficult because of the multiple shifts and part time workers needed to staff stores. So we can

conclude that by efficiently utilizing the labor we can reduce our working capital requirementtheir by making more profits to the store.

Store Maintenance

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Store maintenance entails the activities involved with managing the exterior physical

facilities associated with the store. The exterior facilities include the parking lot, entrances to

the store, and signs outside of the store. The interior facilities include the walls, flooring,

ceiling and displays and signs. Store maintenance affects both the sales generated in the store

and the cost of running the store.

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Reducing Inventory Shrinkage

Calculating shrinkageShrinkage is the difference between the recorded value of inventory (at retail prices) and the

value of the actual inventory (at retail prices) in stores and distribution centers divided byretail sales during the period

Shrinkage= (Accounting RecordActual Inventory)/Sales

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Detecting And Preventing Shoplifting Security measures

Dye capsules, CTV cameras

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Electronic Article Surveillance (EAS)

Employee training on following:- Dont assume that all shoplifters are poorly dressed Spot loiterers Look for groups Look for people with loose clothing Watch the eyes, hands, and body www.youtube.com/watch?v=ZzMhkeRlWF0

http://www.youtube.com/watch?v=ZzMhkeRlWF0http://www.youtube.com/watch?v=ZzMhkeRlWF0http://www.youtube.com/watch?v=ZzMhkeRlWF0

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Reducing Employee Theft

Trusting, supportive work atmosphere

Employee screening

Honesty test, extensive reference checks, drug testing Security policies and control systems Employee theft is an HR problem and can be solved with good HR practices.

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The Indian Retail Scape

Training for operational excellence:- Pragati, Spencers centre for retail excellence.

Pragati-the concept

Pragati is more than the equivalent of an inhouse training department of spencers retail, also

geared as a center to promote operational excellence.

Value Proposition/Benifts

Pragati will deliver strategy driven inhouse training solution suiting prevailing requirements

for the retail business. The main aim is to provide a positive cost benefit ratio through benefit

of standardization an centralization of training within the retail sector across india.

The Pragati Vision

To build spencers as the most professionally managed retail business in the country

through:-

Building excellence in all operating process Nurturing and facilitating a learning and growth culture Building a unique retail experience for customer

The Pragati Mission

To provide relevant knowledge and skills to employees in order to enhance there

competencies and potential ensuring total alignment to business goals and growth to both the

individual and the organisation.

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