The biggest challenge faced by retailers is transforming the big ideas from corporate headquarters to the people who carry them out at each store. Retailers are wonderful planners with great execution. The corporate headquarters sends each store mounds of paper documents instructions with best plans and ideas for product assortments, displays, pricing, and promotions. These ideas must be carried out in a timely matter, or the store suffers looses in sales, revenue, and repeat customers.
There is always an ongoing struggle to meet sales quotas and adhere to seasonal demands and promotions. With the popularity of the internet today more retailers are pioneering to web based planograms. Such as Sears, Roebuck and Co, Home Depot, Staples Inc., and Dunkin' Donuts Inc. Retailers with this technology act more accurately and quickly and their cost are down, and their employee morale is up. This web based task management store planogram system makes it easier for corporate headquarters to verify orders are carried out, and improve communication with each of their stores.
In this globally competitive world of retail, organization leaders understand the value of having a quality system in place (http://www.nqi.ca). This process will help to eliminate paper based forms, which help save time, and money.
Managers have to adapt to changes in their internal and external environment in order to succeed. These changes in technology and communication have enabled companies to expand into global and worldwide markets. Retail managers engage in planning, which involves defining the mission, SWOT analysis, set goals and objectives, and develop related strategies. Managers track the performances of the more popular merchandise to effectively advertise them.
In an "Internet age" company's like AOL, and Netscape, had sound business models, where their revenue exceeded variable costs and there was relatively high fixed cost that could be...