Retail Recruiting

The process of retail recruiting requires an energetic and experienced group of professionals, equipped with retail industry information and skill. There are recruiting agencies that specialize in delivering national and international retail industry requirements.

Retail recruiting may involve filling various positions, such as the CEO, president, senior vice president, director, manager, or engineer. Retail recruiting also involves the procedure adopted in the case of account managers and account executives.

Retail recruiting differs due to the potential prospects having diverse backgrounds. The database is large, and there are many applicants with different educational backgrounds. In the case of the candidates currently working with the organization, it becomes easier to assess and communicate with them.

It is suggested that every employer turn to current and former employees, suppliers, and customers. Employers should reward them properly for recognizing quality and for referrals. It is recommended for the management to measure and allocate awards to all managers, depending on how well each of recruits and retains the existing talent.

One of the advanced tools for successful retail recruitment includes the creation of a profile. The short-listed candidates may have many things in common and making a profile of the top employees, is a good idea. The management can make use of this concept of the behavior profile to fine-tune the retail recruiting process and build a referral program and get every employee to become a recruiter.

Another aspect of retail recruiting involves the management looking for people who are not aware of the firm or product. This may apply in the case of the product being too fashionable, expensive, or not used by the community. This means that the prospective employee has to be made aware of the product by the distribution of free samples.

Supply Chain

Producers normally use a number of marketing intermediaries for getting their products to users. Marketing intermediaries bear a variety of names such as sole selling agents, marketers, wholesalers, distributors, stockists, franchised dealers, retailers, brokers and jobbers. All such intermediaries constitute the supply chain. The depot/ showrooms and other direct outlets also form part of the supply chain.

Supply chains play a pivotal role in the successful marketing of most products, especially consumer products. First of all, supply chains bring together the makers and the users in an efficient and economic manner. It will not be practical for any manufacturer to organize a network of his own selling points throughout the market and sell his products directly to consumers, totally avoiding outside distribution channels. Just like mass manufacturing, mass distribution needs large resources in terms of money, materials and manpower.

No manufacturer can easily command such resources. Even assuming that the resources could be found, the question arises whether it would be advantageous for the manufacturer to carry out the distribution function by himself, totally avoiding marketing intermediaries. Analysis shows that there are more disadvantages than advantages in doing so. If intermediaries are not there, the firm will have to make direct contacts with far too many widely-scattered customers. Marketing intermediaries minimize the number of contacts the firm has to make to sell its products. In other words, these intermediaries confer on the firm the vital advantage of distributional efficiency.

Supply chains combine the products and components manufactured by different firms, and offer them in the form of assortments that are convenient to final users. The final users, in most cases, actually need an assortment of items; they do not prefer to shop at outlets, which fail to provide an assortment of all the products that they require.

Workflow Benefits

Workflow management consists of automating business processes, in the course of which documents and tasks are passed from one worker to the other as per rules and regulations. There are several benefits for the work environment of any organization on the implementation of workflow principles.

Studies have shown that implementing the software in a business process results in enhancement of the business operations. It makes the business procedure better controlled and improved as it provides proper insight into the existing system. Workflow software also guarantees reliable procedure implementation. This is brought about by detailed enumeration of implementation of procedure.
It complies with various service accords and regulatory requisites and hence accomplishes results by implementing well-made processes. They ensure that the entire workforce functions seamlessly and rapidly by a series of activities and aiding technologies and management of various operations.

The software and its incorporation in any business process are also beneficial as several manual tasks are replaced by automation. At the same time, it also employs human skills, know-how, and opinion where it has the maximum impact.
Workflow software is also responsible in bringing about a sense of novelty and cultivating a tradition of unremitting upgradation by working out the details of the operation. It also promotes flexibility in the business process by advancing with customer requirements and competitions. It also ensures performance tracking by measuring accomplishment of results by collecting specific indicators for demonstration study. It transforms managerial inactivity of the system to the advantage of the organization by using it in new situations. As it is capable of portraying the outcome before actually carrying it out, it helps to improve the actual performance. It is also capable of handling exceptions in the normal course and it brings about improvement of the procedures.

Workflow software products have advanced from varied origins. Some of this software has developed from different systems such as image management, document management, and other related systems.

Business Contracts

A business contract is a legal promise made between two or more parties. A contract may be drawn when the associated parties wish to enter into a transaction like buying or selling, performing services, leasing properties, collaborating in joint ventures, advertising, manufacturing, distributing or selling goods, etc. The business contract is considered a surety against cheating by any of the associated parties.

The length of a business contract depends on the number of clauses being mutually agreed upon. It may be of a single page or it may run into a dossier of several pages. Every business contract is legally binding and attracts relevant stamp duties. The general practice is to compose such business agreements in the presence of lawyers of all the parties involved.

The first page of a business contract usually contains the names and addresses of the signatories. A brief description of their jobs can be mentioned along with their names. The date of signing the contract is put up on the first page.

The next part of the contract is called the recitals. This is a very short description of the type of transaction the parties are going to enter into. It is usually no longer than a paragraph. After recitals follow the specifications, in which there is a detailed description of the job the parties are to undertake. This part may run into several pages and it contains a very succinct description of the exact job portfolio. It sometimes contains formulas, diagrams, sketches and graphs in order to better explain the nature of the job.

Payment comes in the next section. A very clear mention is made of the remuneration that one of the parties is to give to the other. Either the exact figure is mentioned, or at least the determining factors are outlined. If time is extremely relevant in the completion of the job, then the sentence “Time is of the essence” is included. Whatever the conditions regarding the payment may be, they are to be put down in the contract.

Apart from all this, there are several legal points covered. It is written in the contract which state jurisdiction will apply in case of a legal suit. Also, the tenure of validity of the contract is mentioned.

A business contract is a very delicate matter. It takes several deliberations between the associated parties along with the involvement of their lawyers to reach a final draft. There are sometimes several negotiations and amendments in the agreement, until it becomes satisfactory to all concerned. Only after mutual agreement are the signatures put down on the document. All concerned parties have to preserve a copy of the contract as long as it is valid.

Car Hire Contract

A car hire contract is a term used for hiring cars on contract for fixed rental schemes with low initial payments. It is indeed a very competent and professional method of financially supporting business vehicles. Rentals for car hire contracts include road tax for the period of the contract. All vehicles are offered a three-year warranty by the manufacturers. Rentals may counterbalance against taxable profits. Money invested in buying company vehicles is not advisable as nowadays cars can be easily hired for contract. Money determined to be spent on purchasing vehicles for the company can be used to develop business. This investment in business will yield good profit ratios.

Driving cars for a fixed amount each month reduces the burden of maintaining it for lifetime. Contract hire cars are out of the balance sheet, so there is no risk of losing money on your company vehicles. Paper work for hiring these cars is also done by post or fax. The advantages of car hire contract are that payments are low, and a fund license is included with the period of contract with full maintenance packages included for an extra fee.

Contract hire is a funding method specially made for maximum benefit for VAT registered customers. Car hire contracts provide a duration of 12 to 60 months for pre registered vehicles and 18 to 60 months for new brand vehicles. Mileage allowance is given for 160,000 miles. The customer is responsible to bear the insurance of the vehicle. Full maintenance costs if included in car hire contracts, then maintenance as well as servicing charges and the supplier maintains wear and tear of the vehicle.

Termination charges have to be borne by the customer if he wishes to end the contract early. Generally, 50% of the balance monthly rentals are payable as termination charges.
Other charges will be charged in case of damage and it is not repaired.

Call Center Solutions

Espresso vending machines, pool tables, round the clock Internet access, free phone calls… sounds like an internet cafe? No, it’s a call center. A call center is basically an office where a company’s inbound and outbound calls are handled. Call centers may be small or large.

Call centers provide a number of advantages, known as “solutions” to companies. For example let’s say a bank needs a call center’s help in running its mortgage finance business. The bank may entrust the work to the call center. The call center representatives may receive loan applications over phone; forward the account balance and the application to the bank for further follow up, and so on. As the call center takes up this work on behalf of the bank, the bank saves a lot of time. Another call center may assist an opinion survey company. Here the call center representatives may make phone calls to people to answer survey questions and forward responses to the survey firm.

Many call centers use a range of technologies to improve performance and customer experience. One area in which call centers have been proving to be of growing importance is Business Outsourcing, in which companies contract out some of their functions to other companies as we have seen in the above two examples. As it can be expensive to maintain call center equipment and staff, many companies choose to outsource their telephone functions to an external call center. It is very common to find one call center handling the work of several customer companies engaged in diverse areas of business. Many of them take advantage of time zones in different states and countries.

With the advent of the World Wide Web, voice recognition software applications, e-commerce and the demand for better customer service, call centers are booming throughout the US and the world.

Call Center Services

Big business houses like banks, insurance companies, multinational corporations, financial services, mutual funds, stocks and shares brokers, and others generally have a large customer base. These businesses need to answer huge volumes of calls or enquiries from their customers regarding their day to day concerns. To meet such needs they have come up with the innovative idea of setting up special branches in their offices to deal with these calls. These branches are called call centers.

The staff manning these call centers is equipped with the data that contains all the information about the customers. Since the amount of data is huge, it is stored in computers and programmed in such a way that the moment some customer raises an enquiry, it is answered with a click of the mouse. Telecommunication and computer technologies like Automatic Call Distribution (ACD), Interactive Voice Response (IVR) and Computer Telephony Integration (CTI) have been developed so that the phone calls and answering are synchronized with the computer interface. In this way the customer service specialist of the call center, on receiving the call, answers it in your company name treating the caller as if he has actually visited the company office. This synchronization of the phone calls with the computer interface facilitates an uninterrupted answering service and eliminates any delay in providing answers to the enquiries.

The call center staff is also equipped with centralized telecommunication equipment to monitor and route the enquiries of the customers to specialists dealing with their concerns. This is done by using call-routing software in conjunction with Voice over Internet Protocol (VoIP) technology. As soon as an enquiry is received, it is forwarded to the specialist who satisfies the customer by referring to the database in the computer.

The work in the call center goes on round the clock, 24 hours a day, 7 days a week, including holidays. The office timings and operations are so devised that callers from multiple time zones are attended to according to the time zones of their countries, For example, if it is daytime in America and night in India, the call center operates during the night in India to answer the calls of the American customers when it is day there. The bottom line is that whenever the customer dials up with his enquires, he is duly attended to.

Call Center CRM Solutions

Call centers are offices that make use of phone facilities to assist client companies engaged in fields as diverse as healthcare, education, law and market research. As the call centers function round the clock, and its employees communicate with customers in a completely virtual environment, the risk of getting stressed out is great. Like any employer, call centers too are expected to keep their employees happy. Only if they are happy can they make the customer at the other end of the phone line happy. Moreover, the sustenance and reputation of a call center depends basically on its relationship with customer companies. Hence call centers view Customer Relationship Management [CRM] as a top priority area and offer a wide range of in-house CRM consulting services. This is seen to increase productivity, efficiency and effectiveness.

An effective CRM program trains the call center employees on a consistent basis to build a good and everlasting relationship with the customer [companies]. Before developing CRM programs, call centers make use of the knowledge and understanding of their employees about customer requirements. Based on this, they develop modules and train them to use a wide variety of information and communication technology tools to accomplish a strong relationship with their customer companies.

An effective in-house CRM will ensure that the call center’s business functions make both the employees and customers happy and comfortable as members of a cohesive team.

One of the most important objectives of using CRM is to make the call center more profitable, reputable and sustainable in today’s highly competitive global market.

Business Strategy

A business strategy is formulated by selecting the target audience of the product and assembling the marketing mix. A firm can assemble marketing mix elements in many different ways so that the relative weightage of the different elements will be different in the different combinations. Because of this reality, business firms are employing an abundance of strategies and strategy stances. It is a relentless race to stay ahead of competition.

Basically, however, there are only two broad routes available for forging business strategies. They are the price route and the differentiation route. In other words, any strategy has to be ultimately either a price-based strategy or a differentiation-based strategy.

Companies taking the price route compete on the strength of their pricing and the price cushions they enjoy. Normally, those who resort to the price route and compete on price will enjoy substantial cost advantages, giving them flexibility in pricing and marketing. The differentiation route, on the other hand, revolves around elements other than price. The product with its innumerable features is one major source of differentiation. In fact, any of the ever-so-many activities performed by the business unit can constitute the nucleus for differentiation.

In other words, differentiation allows the company the freedom and flexibility to fight on the non-price front. Differentiation, therefore, is a crucial option for a firm in its search for a rewarding strategy. A good majority of business battles are in fact fought with a differentiation-based strategy rather than a price-based strategy.

As already mentioned, a business unit that opts for the price route in its competitive battle will enjoy certain flexibilities in the matter of pricing of its products, and use price as the main competitive lever. It will price its products to suit varying competitive demands. It will enjoy certain inherent cost advantages, which permit it to resort to a price-based fight.

Business Process Management

Business process management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims. This basic definition needs to be expanded as manager’s carry out the managerial functions of planning, organizing, staffing, leading and controlling. Management applies to any kind of organization. It applies to managers at all organizational levels. The aim of all managers is to create a surplus. Managing is concerned with productivity implying effectiveness and efficiency.

Many scholars and managers have found that the analysis of business process management is facilitated by a useful and clear organization of knowledge. In studying management, it is helpful to break it down into five managerial functions involving planning, organizing, staffing, leading and controlling. The knowledge that underlies those functions is organized around these five functions.

Managers are charged with the responsibility of taking actions that will make it possible for individuals to make their best contributions to group objectives. Management applies to small and large organizations, to profit and not-for-profit enterprises, to manufacturing as well as service industries. The term enterprise refers to businesses, government agencies, hospitals, universities and other organizations. In business process management, all managers carry out managerial functions. However, the time spent for each function may differ. Top-level managers spend more time on planning and organizing than do lower level managers. Leading, on the other hand, takes a great deal of time for first-line supervisors. The difference in the amount of time spent on controlling varies only slightly for managers at various levels.

Business process management, like all other practices such as medicine, engineering or baseball, is an art. It is know-how. It is doing things in light of the realities of a situation. Yet managers can work better by using organized knowledge about management. It is this knowledge that constitutes a science. Thus, managing as practice is an art; the organized knowledge underlying the practice may be referred to as a science.