Paucity of cash is no longer an issue for the world’s largest retailer. With its discount retailing model, Wal-Mart has developed a considerable cash reserve and a sustained business model. In fact, Wal-Mart is projected to see profits rise on the back of the global economic recession.
Wal-Mart follows a standard retail model, focusing on providing customer value and making money at every stage of its sales cycle. Its turn-key retail operations, including distribution centers, registers, and packaging warehouses, ensure that products are distributed, managed, and packed right away. These operations also provide flexibility in designing and changing product mix to meet customer needs and preferences.
However, Wal-Mart’s tight integration of all aspects of its retail operations means that it is often difficult to identify whether or not a retail store is performing to the required standard. For example, is there a discrepancy between the expected retail service and what you find when you enter the store? Does the overall retail experience feel as though it was designed by a committee of managers and retail professionals rather than as a reflection of a single store? If so, you might want to consider leveraging the expertise of an HR practice.
Case Study Helps from HR professionals can help you test the retail experience in a number of ways. HR professionals can examine your store from an objective perspective using a variety of internal and external factors to determine how well the store meets your business objectives.
They can also use store observations to evaluate employees’ time spent on customer service tasks. If the store does not clearly illustrate the objectives of its various stores, then your HR professionals can help you understand the underlying factors that make it a success or failure. If an employee finds themselves spending more time interacting with the general public rather than customers in your store, they may be more likely to be dissatisfied with their performance. This could lead to poor customer service, diminished sales, and less profitability.
Businesses should consider the impact of retail business models on both their bottom line and employee satisfaction. Retail management training and management education can ensure that managers and retail professionals are effectively managing their stores. Business Case Solutions and Case Study Help from HR professionals can give you the knowledge and insight you need to drive a retail business model that will deliver higher quality customer service.
The Wal-Mart’s Sustainability Strategy (A) outlines the importance of employing HR professionals who are able to apply their knowledge and experience to an existing retail store. As the retail sector continues to evolve, retail practice managers will likely need to select businesses that provide them with additional competencies and experience that help them better manage businesses.
Finding such a business requires having an in-depth understanding of the existing challenges in a market that includes customer service issues, intense competition, and fluctuating consumer trends. If you are looking for an extra-curricular education, HR consultants may help you understand and gain knowledge about such business strategies. A retail consulting firm can guide you through the appropriate process for determining the location and level of engagement you need for your business.
The Wal-Mart’s Sustainability Strategy (A) offers business owners a starting point to develop an HR strategy that specifically meets the needs of today’s businesses. Here are some of the key takeaways from HBR Case Solutions and Case Study Help:
Today’s business owners need to think about how to remain competitive in the marketplace. Whether you are thinking about retail or healthcare, or manufacturing, you need to find ways to differentiate your product or service. to make sure your business will remain competitive and grow.