COURSE LEVEL:
Basic
COURSE DESCRIPTION:
Retailing is the business of selling consumer goods to final consumers, and this business is constantly changing. Retailers are particularly affected by changes in the consumer population, changes in the economic, social, technological, and political environment, and changes in competitive conditions. This course teaches the student the main requirements of effective retail management, including: personal qualifications of management, adequate financial structure, necessary physical facilities, effective policies and procedures, and competence, loyalty, and productiveness of personnel. Finally, the course discusses online retailing (e-tailing) strategy and the future changes ahead in retailing.
LEARNING OBJECTIVES:
• Define retailing activities. Describe the structure of retailing.
• List the requirements of management.
• Ascertain the competency and loyalty of retail personnel.
• Investigate and research the best location for a new store.
• Calculate the capital investments for land, building, and equipment.
• List and give examples of favorable elements of a self-service operation.
• Identify the common characteristics of chain store organizations.
• List and explain the objectives and functions of human resources management.
• Create a compensation program for managerial personnel.
• Organize the elements in merchandise budgeting.
• Use vendor information to locate buyers.
• Describe the objectives of an invoice.
• Describe the nature and purpose of merchandise management.
• Facilitate the activities in receiving and distributing merchandise.
• Establish a sound pricing policy to maximize profits.
TOPICS COVERED:
• Chapter 1: Retailers and their Structure
• Chapter 2: Retail Management Requirements
• Chapter 3: Store Location
• Chapter 4: Store Buildings, Fixtures, and Equipment
• Chapter 5: Arranging the Store’s Interior- Layout
• Chapter 6: Structure of the Retail Firm
• Chapter 7: Retail Human Resource Management
• Chapter 8: Merchandising Policies and Budgets
• Chapter 9: Planning and Selecting Item Assortments
• Chapter 10: Buying: Selecting Merchandise Resources
• Chapter 11: Buying: Negotiating with Merchandise Resources
• Chapter 12: Merchandise Control
• Chapter 13: Handling Income Merchandise
• Chapter 14: Pricing
• Chapter 15: Advertising and Display
• Chapter 16: Other Non-Personal Methods of Retail Sales Promotion
• Chapter 17: Personal Salesmanship
• Chapter 18: Customer Services
• Chapter 19: Retail Credit and Collections
• Chapter 20: Basic Accounting Controls
• Chapter 21: Analyzing and Controlling Expenses
• Chapter 22: Control of Sales Transactions
• Chapter 23: Retail Security and Loss Prevention
• Chapter 24: Management Coordination and Leadership
• Chapter 25: Brick and Mortar to Click and Mortar: E-tailing
REGULATORY REQUIREMENT:
Please see the state requirements section on the course catalog page.
SEAT TIME:
This course has been approved for 14 hours.
COURSE PRE-REQUISITE:
N/A
TESTING:
The student will be required to pass the final exam with a 70% in order to receive course credit
COURSE COMPLETION:
Upon successful completion of this course, the student will be able to print their certificate online.
ABOUT THE SUBJECT MATTER EXPERT:
Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.