Be the Manager
The Changing Environment of Retailing
1 - Analyze the major forces in the task environment of a
retail clothing store.
The business environment includes all the things that can affect how an
enterprise works. These include forces that come from both within the
company and outside the company. During this lesson, we will
concentrate on certain activities and factors that come from outside the
corporation, called the task setting, also referred to as the real
environment. An organization's external environment that affects its
ability to accomplish business goals. Any business or consumer with an
organization's direct involvement may form part of the task
environment. Types of work setting sectors include customers, clients,
vendors, and the availability of labor.
Major forces in the task environment are as follows:
Customers: Managers should pay attention to the constantly changing
needs of the customers and act accordingly. Customers create product
demand and make the business an income source. For instance, if
customers want more fashionable clothes, the demand for profit
components will increase.
Suppliers: Suppliers are individuals and organizations, which provide
the input resources that retailers need. Suppliers are also affected by the
fact that the products that the company buys are produced on the
market.
Case Study 4: Management theory
Distributor: In many situations, the manufacturer also plays a key role.
If the availability of people for the job is limited, then their activities may
be affected. Distributors are much closer to the market and can predict
what their customers need better than manufacturers.
Competitors: Competitors are businesses, that produce goods and
services like a particular company, such as retail stores, malls, branded
outlets, or even online shops. Competition is also an important factor in
thinking about the working environment, as other firms may provide
similar (or even better) products and compete for the same customers.
2 - Devise a program that will help other managers and
employee to better understand and respond to their stores
task environment.
Retail managers need to understand and adapt to each task force, which
allows workers to better understand the business environment and to
improve sales and overall efficiency. To ensure the consistent supply of
input resources. Changes in the nature or types of suppliers result in
factors that create opportunities and challenges to which managers
must adapt. Let us discuss task environment strategies by retail
managers, which will be helpful for the employees and organization:
1. Exercising Strategic Leadership
The manager's strategic leadership is a potential source of competitive
advantage and thus essential to successful strategy implementation.
Strategic leadership is interpreted as the capacity to anticipate, foresee,
maintain flexibility, and empower others to create strategic changes, as
necessary. The whole organization is managed to address environmental
change in the industry and abroad. Successful strategic leaders in
companies shape workers' actions and opinions efficiently and
profitably.
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Case Study 4: Management theory
2.Create a Competent Company
The creation of a competent organization, in policy execution, is an
extremely high priority. A top priority in this matter is warranted, as the
successful implementation of the plan ultimately relies on a stable
organization. When your workers are professional, the company has a
management system that suits your requirements and has strong
competitive capabilities. These are organizational actions that focus on
the successful execution of the strategy, such as developing qualified
personnel and competitive organizational capabilities.
3. Reward System
The Company's awards and motivation systems must encourage better
implementation of strategies. Strategy-supporting incentive systems
substantially contribute to employee engagement for strategic
implementation. High performers (i.e., employees with good
performance) should be sufficiently rewarded for boosting their
commitment Rewards can be given in the form of financial or nonfinancial incentives.
4. Build a productive culture.
You do not only have a fixed place and circumstances in your working
area. It also includes procedures and processes. Your business culture
should also be included here. Speaking of objectives, set individual goals
for each of your team members. Well-defined objectives and tasks let
everyone know how they contribute to the broader picture. Clear
definitive information also lets everyone know exactly what is happening
in the startup itself. By planning brainstorming sessions, you can foster
and strengthen cooperation.
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