Question

1. Compare two terms used in giving rewards to the workforce in retail industry "salary" and "commission". which one is commonly used. justify your answer with examples

2. if you were a retail manager, what criteria might you take to evaluate your staff/workers performance. justify your answer with examples from different types of retail business

3. are the steps involved in setting up a retail organization the same for small and large retailers. explain your answer.

Answer 1

Answer 1-Comparing of the two terms used in giving rewards to the workforce in the retail industry -In the retail sector, the sale of goods and services is the main purpose. Salary is the fixed amount which is payable as a guaranteed amount at the end of the month by the employer to the employees of the retail industry, the amount of salary is fixed in nature which means the same amount of money will be payable to the employees whereas commission is referred as the amount over and above the salary which is received by the employees by achieving targets and goals. The commission amount is not fixed in nature, it can fluctuate every month and it is not fixed in nature. But in the retail industry sometimes a job is offered to the employees which is fully commission-based which means in this salary are not offered to the employees. A fixed amount will be given on the sale of units.

Answer 2-As a retail manager, criteria might take to evaluate staff /workers performance -

1. Setting targets, by which employees will be busy or engaged.

2.Sales performance of the employees on a daily basis, weekly basis, and monthly basis.

3.Convincing power of the employees to motivate a customer for the product.

4. Approaching way of employees to the potential customers.

Examples- 1.In grocery retail stores performance can be evaluated on the basis of daily sales.

2. In supermarkets , the performance of the employees evaluate on the basis of monthly sales.

Answer 3-The steps in setting up a retail organization for the same for small and large retailers are almost same or similar,however small retailers are having no chains of their store and they work in small area of place where as large retailers are having their chain store within the country as well as in foreign markets too and they also offer online ,offline mode of sales to their customers.