Managing A Retail Business Essay

Question 1

Meeting employees’ needs creates motivation among the workers and helps them become loyal towards their organization. It boosts the professional qualification of the respective worker and hence their quality of the output is increased. Employee to employee relationship is strengthened during the training session, and consequently workers can interact, hence creating a rapport. Variable information is, therefore, exchanged by the workers. Personal growth of employees is enhanced while their unforeseen future is catered for. Therefore, such needs improve the employee’s motivation and hence can be able to add value to the organization products and services.

Question 2

The steps required to establish up a small and large retail organization differ in a variety of ways because of the definite size of each retail organization. Large retail organizations require complex legal formalities which require long beaurocracy to acquire compared to small retails which may require only a trading license to commence operations. Huge capital allocation for large retail organizations may hinder the sudden commencing of activities unlike small firms, which kick off fast since the little capital is quickly accounted for and brought into use. The complex management required for the day to day running of large retail organizations may take time to be acquired unlike the simple management of small retail organizations which enhance the immediate and fast decision-making.

Question 3

The difference bound to cut across all organization structures of small independents, chain retailers, and diversified retailers is that the small independent retails may merge various sectors together. In addition, they put them in one division while the larger retail organization may set up several divisions each performing a separate function and under a separate management. The similarity among all organization structures of small independents, chain retailers, and diversified retailers is that all organizations require a laid down set of legal formalities to adhere to in terms of setting up.

Question 4

Standardization and employees’ training motivate the employees since they recognize how the organization values them and hence deliver their services selflessly in a bid to achieve the organizations’ goal. The quality of service delivery is increased by cross employees training since the respective employees acquire current ideas and trends and consequently maximizing on quality output. Employees enjoy personal growth where they can quench their knowledge desire and equip themselves with skills, which can help them in the future even after they are out of their current working places.

Question 5

Retailers’ maintenance on the quality of the store determines how consumers purchase goods from the stores. A clean and orderly store is likely to attract more customers compared to a dirty, disorderly store. A store offering facilities with a long life span is likely to lure more consumers because every consumer will be willing to purchase a facility that will go for a long time in good shape and at the same functioning. The cost of operating the store should be relatively down to ensure that the prices of the goods are relatively cheap.

Question 6

Visa and MasterCard are worldwide accepted hence preferred to cheques which are only accepted by certain banks. Cheques take time to mature upon depositing with the bank while Visa and MasterCard provide instant money once swapped over the money machine. Unlike the case of cheques being dishonored, Visa and MasterCard mode of payment does not possess such threats of dishonoring.