Chapter 14(Managing People)

By: Ian McCulley

& Ryan Bloom

Summary

• This chapter examines the role that the human factor plays in retail firms.

• Retailing is composed of employees and customers (both are critical to carry out a successful retail strategy).

• Retailers must recruit the right employees and customers in order for the company to achieve profitable returns.

• Servant Leadership- An employees recognition that their primary responsibility is to be of service to others.

• Empowerment- Will occur when employees are given the power in their jobs to do the things necessary to satisfy and make things right for the customer.

• Customer relationship management (CRM)- Is composed of an integrated information system where the fundamental unit of data collection is the customer, supplemented by relevant information about the customer.

Summary cont…

• Employer selection process: – Screening and selection of employees.

• Application form• Personal interview• Testing• References

Employment theories

• Motivation- The drive that a person has to excel at a certain activity.• Content theories- “What motivates an individual to behave?”• Process theories- “How can I motivate an individual?”• Hierarchy of needs model- Theorizes that the individuals have

lower-level physiological and safety and security needs, which are first satisfied before higher-level needs of belongings or social esteem and self-actualization are perused.

• Theory X- Theory of management that views employees as unreliable and thus must be more closely supervised and controlled.

• Theory Y- Theory of management that views employees as self-reliant and enjoy working for their company.

Mercer Article

• Mercer is a company that deals with HR• The article was about a survey studying how committed employees

were to their company• Mercer found that employees are more content than they were in

recent years and more confident in their company• Employees are now more likely to stay at their current job• These figures are helpful to businesses because they can

differentiate themselves from other businesses with better employees

              

               

Reasons for the Findings

• Employees’ confidence in the future of the company• Employees’ confidence in achieving their goals and the company’s

success• Satisfaction with what they do• Opportunities for challenging work and continuous learning• Has to do with keeping employees motivated and making them feel

compensated for their work - from the book.• Job Enrichment- the process of enhancing the core job

characteristics of employees to improve their motivation, productivity, and job satisfaction. This theory is why companies like Mercer focus so much on HR; happy employees make companies stronger.

Questions?

No…..ok!!!