MKTG 355 Chapter Notes - Chapter 9: Chief Executive Officer, Management Information System, Human Resource Management
Document Summary
Hrm performance measures: employee engagement- an emotional commitment by an employee to the organization and its goals, engaged employees care about their work and their company. Hrm challenges in retailing: worn environment, open long hours, peak sales periods, emphasis on cost control, employees, unskilled, part-time, diverse backgrounds. Organizational structure- identifies the activities to be performed by specific employees, and determines the lines of authority and responsibility in the firm: the design of the organization structure needs to match the firm"s retail strategy. Merchandise management tasks: buy merchandise, select, negotiate with, and evaluate vendors, select merchandise, place orders, control merchandise inventory, develop merchandise budget plans, allocate merchandise to stores, review open-to-buy and stock positions, price merchandise, set initial prices, adjust prices. Advantages of centralization: it is difficult for a retailer to adapt to local market conditions, it may have problems responding to local competition and labor markets, personnel policies make it hard for local managers to pay competitive wages.