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Retail week of notes

by: Kara Lyles

Retail week of notes Retail 265

Kara Lyles

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In class notes for week of 4-4-16
Principles of Retailing (265)
Karen Edwards
Class Notes
Retail 265
25 ?




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This 3 page Class Notes was uploaded by Kara Lyles on Friday April 8, 2016. The Class Notes belongs to Retail 265 at University of South Carolina taught by Karen Edwards in Spring 2016. Since its upload, it has received 23 views. For similar materials see Principles of Retailing (265) in Retail at University of South Carolina.


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Date Created: 04/08/16
4/4/16 – 4/8/2016 Retailers’ Assets  Physical plan *Technology  $$$$ Revenue * Locations  Equipment/fixtures * Employees  Customer base reputation Aspects of human capital  Training * God Judgement  Experience *Insight Servant leadership A philosophy that emphasizes focusing first on others; needs. Servant leaders are attentive to the growth and development of their stakeholders, including employees, customers, partners and the community. Servant leadership: Service 1st, community building, persuasion, willing followers, journey Managing a multigenerational workforce  Pre baby boomer: Hard workers, good tem players, loyal, Homeownership, learning style is a traditional classroom, techno-challenged, prefer to write formal letters  Baby boomers: Job perks promotion, not afraid of challenge, strong work ethic, believe generation x & y should pay their duties, want job security, group discussion, learn by interacting, team workers, prefer face to face communication.  Generation X: corporate training, like investments, independent individuals, leaders, individuals tend to not trust establishments, motivated by money, real world assignments, techno savvy, prefer to email and text.  Generation y: Making a difference, values new freedom and flexibility, believes their work matters in the world, their life revolves around work, wants to make a difference, web based learners, like to stay connected, prefer to text and instant messages. Servant leadership Service first, community building, persuasion, willing followers, and journey Managing Selection: 1. Job overview 2. List and explain: Task, duties, responsibility *Should have job description and it should be the metric to be used to measure their performance 3. Job specifications: Knowledge skills, abilities, and other characteristics individual must have 4. Other duties Training - Efforts to help employees understand job related knowledge, skill, and abilities for use on the job Goal is to maximize productivity  Better service  Increase sales  decrease turnover  Increase safety Performance Training 1. Identify performance standard 2. Explain standard or rule is importance 3. Ask employee for a solution 4. Offer input for a reasonably solution 5. Restate plan, ask for employee to be committed 6. Follow up 7. Positive reinforcement * focus on the issue not the individual U.P.T (Units Per Transaction): How many items an average customer purchase


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