RMG301 Retail Operations Management
COMPARING TWO RETAIL COMPANIES
The Assignment
This is an individual assignment. Each student is to compare two retail companies.
You will critically analyze and compare at least one value creation process and at least one support process. You will clearly identify the processes as ‘value creation’ or ‘support’. You will demonstrate your understanding of the concepts covered in the course. Your project will be marked out of a total score of 100, and will be scaled to be worth 20% of your final grade.
One of the companies (Company A) that you select must be publicly traded. Both Canadian and non-Canadian companies are okay, and you must ensure that you have full access to their financial reports in English. Companies selected must be hardlines, softlines or food (such as a supermarket). This excludes auto, restaurants and fast food. It would be to your advantage, but not essential, if the companies have stores locally so that you can visit them.
The other company (Company B) may be public or private. If it is a private company, it must have stores locally so that you can gather information about the company by visiting the stores.
Prior to making your final selection, you should also check that there is additional information available about Company A in trade magazines and business journals. You will find vital information in the annual report. There will be the Chairman or President’s message that tells you the strategic focus. Then there will be highlights that will tell you which processes are important. For some companies, you will find additional supportive information in trade magazines, newspapers, and internet sites that follow retail. You may find articles in the Business Section of the major newspapers, such as the Globe and Mail and the National Post. The Retail Council of Canada publishes a magazine called ‘Canadian Retailer’. The National Retail Federation (for US stores) publishes a magazine called ‘Stores’. Our Ryerson library has access to electronic versions of newspapers and retail trade publications and the librarians will be able to assist you if required.
Where possible you are encouraged to visit a number of Company A’s stores, but I recognize that you may have chosen a publicly traded company that has no stores in Canada. However for Company B, you must choose a company with stores in Canada and you are expected to visit a number of their stores in order to observe operational practice and comment on strategy. You may wish to speak to store managers and head office personnel if accessible.
You must demonstrate an understanding of the concepts covered in the course: you should be able to describe strategy, and how the processes support their strategy. You should identify the processes that are key to the company’s competitive advantage. You should be able to identify the customer benefit package.
You must also highlight some key facts about Company A, such as number of stores, annual sales, sales per sq ft, inventory turns, average size of store, etc.
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Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.
Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.
This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.
To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.
It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.
Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>
