Standard

Format Updated: 04/27/05

MKT 125 - Retail Operations Management

Course Description

Emphasizes the planning, organizing, and managing of retail firms. Topics include: organizational development, strategic planning, short-term planning, human resource management, inventory controls, analysis of profit and loss statements and balance sheets, and entrepreneurship.

Competency Areas		Hours
Organizational Development		Class	5
Strategic Planning		D. Lab	0
Short-Term Planning		P. Lab/O.B.I.	0
Human Resource Management		Credit	5
Inventory Controls
Analysis of Profit and Loss Statements and Balance Sheets
Entrepreneurship
Prerequisite:	Program admission
Corequisite:

Course Guide

Competency	After completing this section, the student will:	Hours
		Class	D.Lab	P.Lab/ O.B.I.
ORGANIZATIONAL DEVELOPMENT		10	0	0
The retail function	Distinguish retailers and their activities from other marketing institutions.
Types of retail organizations	Explain characteristics of the different types of retail organizations.
Changing character of retail institutions	Discuss theories of retail institutional change.
Organizational structure	Explain the formal relationship among the various levels of the retail organization.
Legal forms of ownership	Identify the advantages and disadvantages of each of the legal forms of ownership.
STRATEGIC PLANNING		4	0	0
Strategic planning process	Explain the function of a strategic plan.
	Identify the components of a strategic plan.
	Explain the strategic planning process
SHORT-TERM PLANNING		4	0	0
Short-term plan	Identify items included in short-term planning.
	Identify areas requiring analysis for short-term planning.
	Prepare a short-term retail operations plan.
	Analyze the factors used to assess the effectiveness of a short-term plan.
HUMAN RESOURCE MANAGEMENT		17	0	0
Personnel management function	Develop job specifications.
	Establish pay scales.
	Demonstrate recruiting activities.
	Develop employee evaluation instruments.
	Evaluate employee transfer policies.
	Develop a promotion policy.
	Develop an employee discharge policy.
	Compose a job analysis.
	Examine management's relationship with unions.
INVENTORY CONTROLS		6	0	0
Definitions	Define terms related to inventory control.
Inventory control methods	Describe inventory control methods.
	Demonstrate inventory control methods.
ANALYSIS OF PROFIT AND LOSS STATEMENTS AND BALANCE SHEETS		5	0	0
Definitions	Define terms related to profit. Define terms related to financial statements.
Statements and balance sheets	Prepare an income statement.
	Prepare a balance sheet.
	Determine profit or loss.
ENTREPRENEURSHIP		4	0	0
Retailer attributes and personalities	Identify essential attributes and personality traits of the successful retailer.
	Assess personal strengths and weaknesses as applicable to the retailing field.
Employment opportunities	Identify retailing career opportunities.

Suggested Resources

Books

Boone, L. E., & Kurtz, D. L. (1987). Management (3rd ed.). New York: Random House.

DuBrin, A. J. (1990). Essentials of management (2nd ed.). Cincinnati: South-Western.

Gifford, J. B. (1989). Strategic retail management: A Lotus 1-2-3 based simulation. Cincinnati: South-Western.

Gillespie, K. R., & Hecht, J. C. (1983). Retail business management (3rd ed.). New York: McGraw-Hill.

Gillespie, K. R., et al. (1983). Applications and cases for retail business management (3rd ed.). New York: McGraw-Hill.

Lewison, D. M. (1989). Essentials of retailing. Columbus, OH: Merrill.

Lewison, D. M., & Hawes, J. M. (1989). Cases in retail management. Columbus, OH: Merrill.

Lusch, R. F., et al. (1990). Retail management. Cincinnati: South-Western.

Sherman, A. W., et al. (1988). Managing human resources. Cincinnati: South-Western.

Spitz, A. E. (1990). Retailing case problems (2nd ed.). Boston: Allyn & Bacon.