DAM779 Functions Of Retail Management: Individual Project Report Assessment 2 Answer

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Question :

Graduate Diploma in Applied Management (Level 7)

DAM779 Functions of Retail Management

Assessment 2 – Individual Project Report

General Instructions:

  1. APA 6th edition referencing and in-text citation are compulsory.

  2. Plagiarism is dealt with zero tolerance and you will fail the assessment.
  3. Soft copy of assessment must be uploaded to Turnitin by the due date and time and a hard copy must be submitted to the lecturer on date advised by lecturer.
  4. Be advised that any similarity rate 15% or above will result in zero marks as stipulated above.
  5. Your work must be free of errors with respect to grammar, spelling and punctuation.

Learning Outcomes Assessed:

Learning Outcomes (LOs)
LO3 Evaluate supply chain management and information systems applicable to the retail sector.
LO4 Analyse financial management and planning in the retail industry.
LO5 Explore and appraise industry-related employee management.
Variance:
Cover Page
Business Introduction. Executive Summary. Academic Writing.
Referencing.


Assessment Instructions:

  1. This individual project report (Assessment 2) covers Learning Outcomes (LOs) 3, 4 and 5 as part of the requirement for DAM779: Functions of Retail Management. This assessment is compulsory and required to complete the Graduate Diploma in Applied Management (Level 7) qualification.

  2. Read all instructions carefully. If anything is unclear, consult your lecturer and they will clarify for you.
  3. This is a project report. Answers must be typed in paragraph form with clear headings and numbering.
  4. Your project report should:
    • Demonstrate an originality of ideas and they should also be justified.
    • Have paraphrased sentences to show that you understand the concepts/topics. Only 10% of direct quotations per paragraph (with appropriate citations) are allowed (with a maximum of 40 words per project report page).
    • Demonstrate evidence of applying concepts/theories learned from a wide range of materials, such as relevant textbooks, academic journals or articles, media reports, annual reports, company’s website and/or reputable online sources.
    • Be typed (Font Size 11 or 12, Arial or Calibri or Times New Roman), 1.5 space, a total of 3,500  4,000 words maximum (excluding references), stapled/bound to lecturer's instructions. Indicate the wordcount at the end of each section/task.
  5. Assessment Glossary:
Analyse
Adding a degree or level of accuracy depth, knowledge and understanding, logic,
reflection and quality to identifying components and the relationship between them; draw out and relate implications.
Appraise
To estimate or give value to something and to make judgements about
truthfulness and accuracy of findings.
Evaluate
Makes judgements about the value of ideas or materials for a given purpose in a given context. Presents and defends opinions by making judgments about information, validity of ideas or quality of work based on a set of criteria.
Compares and discriminates between ideas.
Explore
Adopt a questioning approach and consider a variety of different viewpoints. Where possible reconcile opposing views by presenting a final line of argument.


PROJECT REPORT TASKS

You are a Business Consultant at a reputable firm in Auckland. Your client who is an Auckland retailer and store manager of a single branch/outlet wishes to grow and develop the business using up-to date industry best practices. As the business consultant, you have been asked to compile a detailed report on the status of the business practices.

Your client has confirmed that the current main management challenge in the retail store relates to human resource management. This challenge includes a high rate of staff turnover, reported low motivation and a general low morale amongst staff. Your client further confirmed a decision of top management to reduce budgets on staff training due to the issue of the high staff turnover. The store manager however confirmed the senior management team is currently considering the opportunity of investing in a new information system.

You have analysed the recent financial statements of the retail store and noticed a decline in net profit, lower spending by the organisation in social media with a top-heavy hierarchical structure. The retailer is currently referring all employee recruitment functions to an agency, however it is reported that the agency was unable to provide enough seasonal staff over the Christmas periods of the past two years.

Your client has a high academic inclination and has requested that all the information in this report should be supported by sound academic reference.

Your client also allows you to spend a month on the premises of the store to conduct research and facilitate staff meetings. This will provide you with an opportunity to understand the reasons behind the reported low staff morale.

In relation to the above challenges, you will cover the basic aspects of contemporary strategic management in the retail industry and also focus on the importance of marketing communication. You will furthermore evaluate staff training and supply chain management. It is also important to evaluate the available information systems currently used by your client.

Your accurate interpretation and communication on the research conducted would not only impress your manager but also support your client to understand the employee challenges faced in the retail industry. Your recommendations will serve as a solution to your client’s challenges as you will provide your client with valuable strategic information.

Please read the marking rubric and section instructions carefully and ensure that you display all required elements of your research and recommendations (with clear application to the retail business) in detail with proper APA 6th ed. referencing (citations and end referencing).

If available information directly related to your client is inadequate or non-existing, you are required to state it clearly in the applicable section. In such a case, you are required to create/design the information to fit the business of your client and support your recommendations with academic support.

If available information is adequate and reliable for any section, you are required to evaluate the contents and make recommendations for possible changes based on academic referencing. Include professional and relevant resources to support your research such as charts, graphs, a budget, photos, diagrams, well formatted shortened plans and other documents as applicable.

Depending on the organisation of your choice to be your client in this assessment, it may imply that the store manager needs to report your findings and recommendations to the group manager and top management or the broader organisation. Take this situation into account when addressing issues and making statements.

Please note: Students are not allowed to reference Aspire2 International as a corporate author based on the compilation of suggested readings and study materials provided in this course. All research references should be authentic and original and APA 6th ed. reference format to be appropriately applied by the student in acknowledgement to the original author(s).


Section

Section Instructions
A
Cover page
  • Font: Calibri, Arial or Times Roman
  • Font sizes: 16, 14 and 12 for plain text
  • Name of business/organisation
  • Document title (Detailed Report)
  • Document sub-title (15-word purpose of document)
  • Professional layout
  • Student and course details + final word count
Contents page
  • Created in Word Automatic Table of Contents with headings and sub-headings
  • Page numbers bottom right
B
Business Introduction page (One chosen Retail Organisation from Appendix A):
Information in this section may include:
  • Page title: Name of business/organisation Website and other contact details, location(s) (website information to be added to end referencing)
  • Entity type (i.e. company with company number)
  • Details of owner(s)/partners/directors/ shareholders + different portfolios/responsibilities of top/senior management
  • Number of employees and role distribution
  • Purpose/services/products (manufacturing)
  • Current target market
  • Year established
  • Scope for expansion or recent development
1
Executive Summary
150 – 200 word summary covering a complete overview of the document content (no citations/referencing
required).
2
Supply Chain Management:

2.1: Supply chain management (SCM) is the active management of supply chain activities to maximise customer value and achieve a sustainable competitive advantage.

In terms of effective retail supply chain management, evaluate five (5) concepts that would optimise your client’s retail supply chain management (Appendix A). Ensure that your evaluation covers:
  • How your client can implement the concept of SCM.
  • The benefits in applying the concept.
  • How retail costs are affected by implementing the concept of SCM.
3
Financial Management

3.1: Financial Management deals with procurement of funds and their effective use in the business. It is one of the important parts of overall management, which is directly related with various functional departments like personnel, marketing and production.

Analyse the scope of financial management and planning for your client’s retail business (Appendix A) in terms of the following:
  • Financial Management and Accounting
  • Financial Management and Marketing
  • Financial Management and Human Resource
  • Financial Management and Economics
3.2: Analyse the following four (4) elements of financial management and planning applicable to your retail client (Appendix A) in relation to employee costs. Provide at least one (1) example in the analysis.
  • Financial Planning
  • Inventory Management
  • Budget and Budgetary Control
  • Dividend Decisions


4
Industry Related Employee Management:
4.1: Explore and appraise your client’s current and prevailing job application and recruitment practices. Compare and contrast the findings against general industry approaches to application and recruitment procedures and best practices in the retail sector.
Recommend at least two (2) ways your selected retail client could improve to support resolving this existing HR challenge.




4.2: Explore and appraise seasonal staff demand in the retail sector and discuss the impacts thereof on your retail client (Appendix A). Briefly discuss the current practices of your retail client to satisfy this demand.
Recommend at least two (2) ways your selected retail client could improve to support resolving this existing HR challenge.
  1. Explore and appraise the reasons for high staff turnover in the retail sector.
  2. Contrast/compare to the existing reasons for staff turnover at your retail client (Appendix A).
Include any reasons why the staff may have a low morale and low motivation. Note: if you are unable to obtain the percentage turnover rate for your retail client, assume a figure of 40%. This will allow you benchmark your retail client with retail industry standards.
Recommend at least two (2) ways your selected retailer could improve (including what benefits it may hold) to support resolving this existing HR challenge.

C
Referencing and citation formatting
References are used to support ideas or theories and are correctly listed at the end of the project report as a reference list. They are also correctly cited within the text of the project report using correct APA 6 referencing style. A wide range of materials, such as relevant textbooks, academic journals or articles, media reports, annual reports, company’s website and/or
reputable online sources are used.

D
Style of Writing
The project report is clearly presented in comprehensible English, readable and kept to word limits. Sentences are comprehensive, clear and varied in pattern with excellent usage of linking words and phrases. There are no errors in spelling, grammar and
punctuation.


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