Spring 2012 Master of Business Administration MBA Semester 3 ML0012 Store Operations- 4 Credits Book ID: B1226 Assignment

t Set 1 60 Marks Note: Each question carries 10 Marks. Answer all the questions.

Q1. Explain the importance of retail store. Retail is the business of selling goods. The goods can be anything from food to clothes to books to toys but it is done from a fixed location - usually a shop. Retailing is extremely important to everyone because without retailers we would not have access to everyday products that we need. Our lives would be very different if we could not 'pop to the shop' and buy virtually anything we could want.

Retail has changed our lives and changed the way we live. We are an extremely materialistic society and this is partly due to retail. The clever advertising and marketing done by retailers has created a world of people who feel as though they need to have everything and buy goods to lead a happy and fulfilling life. The fact that we can have virtually anything within minutes also emphasizes and encourages are materialism. The main function of a retailer is to buy goods and sell them on to customers. Goods will be bought in bulk and sold at a profit. The retailer has to ensure that the goods they are buying are desirable to the customers or in demand. Another challenge that retailers face is buying the correct quantities so they do not have too little or too much of the product.

They have to make sure that they do not have too much competition with a particular product and also that they charge a reasonable amount. If they charge too much they will not get any customers and if they charge too little they will only make a small profit.

Q2. Write a brief note on consumer protection act. Complaint means any allegation in writing made by a complaint that :

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Q3. What are the different types of retail stores?

Retail industry includes all set of activities to sell the goods or services to the final consumers for personal, non business use.

Q4. What are the steps involved in strategic planning for retail store?

Q6. What tasks does a retailer have to carry out in inventory management? Assess the importance of various inventory levels. Inventory control (also known as inventory management) refers to the systems and strategies businesses use to ensure that they have adequate supplies of raw materials for production and finished goods for shipment to customers, while also minimizing their inventory carrying costs. Storing excess inventory is costly, because the space and financial resources invested in the goods can often be put to better use elsewhere. At the same time, however, inadequate inventory stores can result in costly production shutdowns or delays in filling customer orders. Inventory control systems help companies to find the delicate balance between too little and too much inventory.

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Spring 2012 Master of Business Administration MBA Semester 3 ML0012 Store Operations- 4 Credits Book ID: B1226 Assignment Set 1 60 Marks Note: Each question carries 10 Marks. Answer all the questions.

Q1. What legal procedures are existing to handle customers in retail environment? Securing the retail store computing environment has never been more important, or more necessary, than it is today. Store technology is shifting from closed, proprietary systems to open, flexible systems that allow greater and more meaningful interaction with the customer, headquarters, and partners, as well as better control and understanding of store operations. This shift is evidenced by the introduction of retail store technologies such as wireless networking, store Internet access, multifunction point-of-sale (POS) devices, multi-channel selling, customer kiosks, handheld devices, Voice-over-IP (VOIP), remote frequency identifiers (RFIDs), and so on. Generally speaking, these technologies require more effort around security, due to the nature of the applications they introduce and the functionality they expose. Additionally, technology is providing lower cost operational alternatives, such as store-to-corporate network connectivity, that leverage public networks that expose retailers to additional security threats, such as cyberattacks. More evidence of this trend can be seen in a recent flurry of headlines that describe the theft, both by employees and non-employees, of corporate and customer data from the store environment, and theft from the corporate environment by using the store as an entry point. Additionally, state legislation and industry regulations, such as Personal Data Privacy and Security Act of 2005 (Specter-Leahy), California bill 700, and the Payment Card Industry (PCI) Data Security Standard (DSS) adopted by Visa, MasterCard, and others, have been enacted to

ensure that retailers and other purveyors of customer data are responsible for protecting customer data, and that they are held accountable for its theft. This three-part series is structure to address security in four areas:

Securing the Network Securing the Systems Securing the Data Managing for Security

Each area identifies the relevant technologies, and describes the advantages, requirements, and considerations of implementing each technology. When possible, generic technologies and solutions are identified, followed by a discussion of Microsoft products and how they apply. Links to more prescriptive guidance for each technology are also provided. A comprehensive security solution involves people, process, and technology, so that technology alone is not sufficient to mitigate the security threats to which most of today's retailers are exposed. Although people and process components are not within the scope of this document, we mention these components as they become critical to the guidance. The following is a list of relevant security threats common to the retail industry:

Applications running under a shared, privileged account Viruses, spyware, and other cyber attacks Wireless spoofing Data stolen on un-secure, un-managed mobile devices Credit card theft by both hackers and employees Insecure stores that provide an easy entry into the corporate network Physically insecure computers and networks that are an easy target

A common misconception regarding the allocation of budget for securing the store is that it does not provide a clear return on investment (ROI) for retailers. The reality is that security enables a

company to meets its business objective by providing a safe and secure environment that helps avoid the following:

Loss of revenue Loss or compromise of data Interruption of business process Legal consequences Damage to customer and partner confidence Damage to reputation

A more secure retail store also enables easier and safer connectivity with customers and business partners. Because many retailers have heterogeneous and legacy devices that are not easily replaced, this document first outlines the general approach involved in securing the store. It then identifies alternative methods based on cost, complexity, or other business decisions. Finally, it outlines how Microsoft addresses these through its products.

Q2. Describe the classification of retail stores based on owner ship. The company I have chosen is 'J Sainsbury PLC'. J Sainsbury is a leading UK and US food Dear Students / Working Professionals , Get your completely solved assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com and get 100% marks.

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Q3. Give the meaning and importance of inventory management in a retail store. Peter wanted to gift his wife a nice watch on her birthday. He went to the nearby store to check out few options. Q4. Explain the HR oriented functions in retail stores.

The Human Resource Department deals with management of people within the organisation. There are a number of responsibilities that come with this title. First of all, the Department is responsible for hiring members of staff; this will involve attracting employees, keeping them in their positions and ensuring that they perform to expectation. Q5. What is the importance of CRM in retail stores? Explain. Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Customer relationship management is not only pure business but also ideate strong personal bonding within people. Development of this type of bonding drives the business to new levels of success.

Q6. Give short notes on (i) ethics in retailing and (ii) retailers corporate social responsibilities.

(i) ethics in retailing Manchesters hosting of the International Co-operative and Mutual Insurance Federations biennial conference was a great success. But amidst the presentations from chief executives of some worlds largest life and non-life insurers, arguably the stand-out contribution came from Nigel Waite, a consultant with the Canford Centre for Customer Development. He has been a marketing director with Lloyds and Barclays and is honorary professor of marketing at Nottingham University. Dear Students / Working Professionals , Get your completely solved assignments from Our ESTEEMED ORGANIZATION smumbaassignment.com and get 100% marks.

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