Retail Management Courses In India – The Best Institutes Offering Courses

Retail sector in the country is witnessing a big boom today. As the government prepares to open the sector for international investment, there are many local retail chains which have started organising itself and getting ready for the challenge.

One can now see a number of retail outlets and chains in the country. There are many more which are going to start in the coming future. All these retail outlets require efficient and skilled manpower for their operations. To asses this requirement and to fill the demand for manpower many institutes and colleges across India started courses in retail management.

Benefits and requirements of retail management courses in India

The course in retail management is specially designed to teach all the theories and practical cases which are happening in the retail sector today. Retail management courses in India are offered by various B schools in the country. Some of them offer MBA while most of them offer PGDM course.

There is fundamental difference between the two. MBA courses are offered by those institutes which are recognised by universities and colleges under state and central universities. On the other PGDM course is offered by the autonomous institutions of the country which are built by a special act of parliament.

The admission requirements and eligibility criteria of the courses are very different in the colleges. Most of the colleges which offer MBA or PGDM in retail management in India require a student to have a graduation degree from any reputed institution of the country. The student is also expected to take a national or international level test like GMAT, CAT or XAT. The selected students are then called for a round of group discussions or personal interview.

Those who do well in the GD and PI are then offered full time admissions in the university.
There are many different sub-specialisations within retail management which are taught by the various institutes. These are retail marketing, retail financing, and retail management and so on. There are many new retail chains which are being setup in the country. Hence the job requirements and placements are very high in these institutes for the courses. The students are given good package jobs in various retail firms and companies in India and around the world.

Some of the retail chains also have tie ups with the leading b schools of the country to provide to its man force the adequate training and knowledge about the retail marketing. Hence these employees are also offered part time or executive MBA in retail management. There are many institutes in the countries today which have started offering courses in retail and there are many new colleges which are starting the course to train students with core specialisation in the retail sector.

MBA in Retail Management- Build a successful career in Retail.

The retail industry is growing at a high pace in India and that too with innovative business models. With a number of emerging Indian brands, the penetration of international brands in the Indian market, and many such factors is the reason behind the boom in the retail industry. JDBIMS offers MBA Retail Management, which is a comprehensive course that teaches all aspects of retail management.

Introduction: Functions of Retail Management

The first thing that we notice before entering a store is the window display. The window effects our decision to enter the store a great deal. And who is responsible to make it look attractive? It’s the Visual merchandiser. The look and feel of the store as well as the window of the store is the Visual merchandiser’s job.

Buying the right merchandise, in correct quantity and quality is the merchandiser’s job. A visual merchandiser is different from merchandiser. A merchandiser buys stock and deals with distributers, manufacturers and designers. Retail supply chain management are related to product procurement and controlling product quality, inventory levels, timing, and expenses. Logistics are also involved in moving the product from source to destination, handling and storing them.

Other functions include applying retail communication mix for promoting and selling the products, human resource and training, finance and administration, information technology and customer contact service.

About MBA in Retail Management
MBA in Retail Management at JDBIMS SNDT Mumbai is a 2 year full time course. This course is ideal for a student who seeks a career in the retail sector, for professionals who aspire to grow in the industry. The function of retail industry such as supply chain management, merchandising, store management, visual merchandising, are a number of opportunities to build one’s career in the retail sector. This course will help you understand retail industry and help you chose the job profile that suits you the best

Highlights of MBA Retail Management at JDBIMS

Sectoral Specialization
Internship (Summer and Winter)
Concurrent Fieldwork undertaken on two days a week
Emphasis on research project. Every student undertakes a yearlong research
Business Ethics an integral part of the course
Sound theoretical insights about managing modern retail business.

Broad Objectives
A student who completes this retail management course would be industry ready to contribute and manage the various functions in a retail environment. The programme is designed to enable the learner to gain hands-on experience and practical exposure as well sound theoretical insights about managing modern retail business.

MBA-Retail Management: Huge Opportunities in fast-growing sector

In the last decade or so, Indian retail industry has witnessed great upsurge. With huge changes in the retailing patterns, including the upcoming of mall culture, the retail sector has become one of the pillars of Indian economy. It accounts for 14 to 15 per cent of national GDP. Indian retail market is among top five retail markets in the world with economic value of about US$ 500 billion, providing galore of employment opportunities. Given this boom in the retail sector, demand for trained and talented retail management professionals is growing not only in India but abroad as well. Big brands have opened retail chains throughout the cities & rural areas that offer huge job openings. A professional with excellent communication skills and a flair for convincing people can be recruited as store managers, customer care executives, merchandise officers, public relations executive and so on, in a multinational company.
To take care of the demand for management professionals with specialized knowledge of Retail sector, the GLA University (GLAU), Mathura offers Retail Management as major specialization in its highly reputed two-year degree course MBA. The Institute of Business Management at GLAU aims at nurturing customer-oriented professionals, enabling them to understand the retail industry dynamics and manage the fastest growing sector effectively.
MBA (RM) at GLA University provides specialized knowledge, required skills and attitude along with multitasking abilities to deal with complex business situations. The precisely and carefully designed MBA curriculum at GLAU is pretty sophisticated, flexible and hits bull’s eye in term of maintaining industry standards and keeping pace with ever growing body of knowledge. Its holistic nature indeed paves the way for better managerial skills.
The dual-specialization system adopted by the University gives students freedom to choose specializations from the fields of Marketing, Finance, Human Resource, International Business, Information Technology, Development, Retail, Operations and Strategic & Technological Management.
The first year of the course consists of core subjects that lays a strong foundation in one’s quest to become a good manager. These core subjects include Business Communication, Business Environment, Financial Accounting, Managerial Economics, etc. The second year of the program is centered around the specialization subjects, in which apart from some other common subjects there are four elective subjects spread over all the three trimesters of the final year. This imparts in-depth knowledge of the major specialization subject. Course Projects, Research and training is also based on the chosen major specialization.
Subjects included in Retail Management specialization are: Finance in Retail Operations, Retail Information Systems, Fundamentals of Retail Management, Retail Merchandising, Shoppers’ Behavior & Selling Skills, Retail Supply Chain Management & Vendor Development, Legal issues in Retail, Retail Store Operations, Store Design Layout & Visual Merchandising. These subjects, live projects and real-life training sessions ensure that the would-be manager passing out from GLAU makes one of the finest professionals.

Using POS Systems For Retail Stores

For customers, it is very important that they have a good time at the retail store they are shopping at. Retail pos systems are a great way of making life easier for both your customers and your sales team. A good pos retail system is the best way to stay a step ahead of the competition. These POS retail systems will help your business grow by bringing in track inventory in real time, and this is one of the biggest reasons why retail pos systems have taken over conventional cash registers.

The excellent features and functionality provided by retail systems like grocery store pos systems make the running of a store easier in several ways. CRS Solutions is your one step solution to finding the right kind of retail pos system that will help boost your sales and make your business grow in popularity.

Choosing good retail POS systems?

At the core of every pos system used in a store, is a range of avant grade hardware that includes LCD screens, rear displays, raised keyboard, cash drawer, receipt printer, credit card reader, bar code scanner and retail pos software. Even a simple grocery store pos system is a mix of hardware and software. When you choose a retail pos software, you need to choose good software vendors like CRS Solutions that can provide you with customized solutions for your retail needs. CRS Solutions offers you great choices of pre-configured and customized software solutions so that you can add applications and hardware as your business grows. Popular components in such retail pos systems are thermal printers that can provide fast printing service. Single printer models work best with receipt-only applications, and there are two-printer models that can not only print receipts but also records your journals electronically in the register’s memory. This journal can then be archived electronically for printing at a later date or stored on SD cards for future use. This feature also allows for quick auditing functions that can make your work much easier at a later date.

Streamlining operations with your new POS retail system

From grocery store pos systems to retail systems for large malls, the right kind of pos systems for retail will enable you to control your business much better and increase the efficiency levels of your business. In business, increasing efficiency almost always translates to better profits and this allows you to streamline operations including inventory and vendor management.

Holiday Jerks, Clerks, Retail Pros and the 35% Difference

There will be three types of specialty store employees working this Black Friday weekend. The first type is the jerk. The second type of specialty store employee is the clerk who facilitates the customer’s transaction. The third type is the retail pro who will deliver an amazing customer experience to each and every customer this weekend. Here are three other major differences between the holiday jerk, clerk and retail pro.

There will be three types of specialty store employees working this Black Friday weekend.

The first type is the jerk. They hate working retail, so of course they’ll be extra miserable this weekend. I know you’re not a jerk because jerks don’t take the time to read this article.

The second type of specialty store employee is the clerk who facilitates the customer’s transaction. They’ll make sure customers find what they need or want, and will get them rung up and out the door. Clerks are nice people, but they miss a lot of opportunities.

The third type is the retail pro who will deliver an amazing customer experience to each and every customer this weekend. It will be fun and rewarding for both the customer and for the pro. Retail pros create many additional opportunities.

The biggest difference between the clerk and the retail pro is a 35% or more swing in sales. That’s right; it can be that much of a difference. I know, because I see it with my consulting clients.

Here are three other major differences between the holiday jerk, clerk and retail pro:

1. First impressions

A jerk will ignore customers, hoping they go away. Most will.

A clerk will say, “How may I help you?” to virtually every customer who walks in the door.

A retail pro will warmly welcome each customer into the store. The pro knows that asking a question that leads to the answer, “Just looking” is an impediment to delivering a great experience and making a sale.

2. Helping the customer

A jerk will point the customer to what they’re looking for.

A clerk will find out what the customer is looking for and take him/her to it.

A retail pro will always focus on the customer’s shopping list, not the single item he/she is looking for. Retail pros sell more by focusing on who, not what. They will also give the customer an opportunity to buy something for her/himself.

3. Adding-on

A jerk never bothers to add-on. That takes too much time and effort.

A clerk might suggest one additional item after asking, “Will that be it?”

A retail pro, like the jerk, doesn’t bother to add-on, either. That’s because the retail pro SELLs ON. The retail pro never asks, “Will that be it” because she knows that question stops the sale. The retail pro keeps showing products and delivering a fabulous experience until the customer says that will be it.

4. Final results

Stores staffed with jerks will have a pretty tough weekend. Of course it won’t be the jerk’s fault. It never is.

Stores with clerks will work extremely hard to get close to last year’s numbers, and maybe even exceed it.

Stores with retail pros will more than likely blow past last year’s sales and this year’s goal. They’ll prove that people still enjoy shopping in stores where the staff cares and the experience is different.

So let me ask, will you be a retail pro this weekend? Follow the above suggestions and you’ll see the results. Who knows, maybe 35% or more!

3 Points To Be Noted While Buying House ERP On Cloud For Retail Businesses

Since the time information technology has been harnessed by people, businesses and enterprises have seen a boom time. Various business establishments are trying to harness these resources for their benefit, so that there is better management of time, money and personnel. The most recent beneficial move in terms of information technology has been in the matter of cloud computing.
Small and medium scale enterprises are getting together to get their space in this cloud and conduct their business. Retail management solution on cloud has become a common thing with systems like ERP or Enterprise Resource Planning, CRM or Content Resource Management, POS or Point of Sale, etc. These are systems that are required to be available for carrying out an effective and efficient retail business. If retail software on cloud is available, then there can be easy integration of the supply, returns, customer services, product sale and financial management.
Although cloud retail software or home buying software will instil a new way to conduct the business, the retail solution on cloud requires the enterprise owners to take care of few aspects when buying house software on cloud or retail ERP on cloud. It is known that the cloud provides a space for the designated businesses. But then, there are things that the business owners should be alert and knowledgeable about.
* Retail management solution on cloud will require backup and security when their data is present in the could computing system. For this, those buying house ERP on cloud should check for power and network outage backup, 24×7 customer care services, and time bound assistance. Data backup, virus scans, online security checks, firewalls, etc are supposed to be in place when the retail solution on cloud is provided.
* Checking the usability of the ERP on cloud is another point that should be noted by those who are buying house ERP on cloud. Software that is to be utilised in retail or buying house should be user friendly. Also, there should be easy accessibility of the applications in the cloud, which the workers in the business or enterprise can find out quickly in case of applying for the business. If the enterprise resource planning is done properly, then the logistic issues will become easier and retail enterprises can lower their distribution costs and charges. The software for retail should be therefore sought out properly and with sufficient promise of performance.
* Retail solution on cloud should also include sufficient scalability options. The core of retail business is based on quick service and immediate availability. For such businesses which are aiming to expand, with the right retail management solution on cloud, one can quickly order for items to be refilled and check on the status of the products that are being sold. Tier-4 data centre is to be provided through the cloud retail software, so that sufficient data can be stored and if required, it can be scalable.
Plenty of features are necessary for a retail business to grow and all of these will be possible through the right retail software on cloud. ERP on cloud, POS on cloud and various other retail solutions on cloud can be used to bring prosperity to the business, for both small scale and large enterprises.

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Use A CredibleBusiness Broker to List Your Small Business for Sale in Sydney

If you have a small business for sale in Australia, a good business broker is able to help you through every stage of the process until the time that you receive payment from the Buyer. Owners sell their business for several reasons, such as family succession, retirement, health problems or it may simply have stagnated. For whatever reason it may be, selling a business is a very complex process which has to be carefully done with the help of a credible broker who has the knowledge and experience to carry out this sensitive project successfully.

Selecting the correct Business Broker to represent you

Business brokers are of great help when you are trying to sell your business as they will guide you through the process seamlessly whilst allowing you to still concentrate on running the business during the sale process. However, you should know clearly what you expect from a broker in this process. If you have businesses for sale in Australia and want an agent to help you, you should enquire as to the procedure the broker intends to follow to market and sell the business. The prospective broker would have discussed with you potential range of the value of your business in the market, before agreeing to sell. He should be open and honest enough to discuss the real value with you and not create unrealistic expectations. In addition, you should feel confident that the broker will maintain confidentiality during thesale process. The prospective agent will need detailed information from you in order to prepare a professional presentation for the sale. You will have to provide documents such as financial statements, the lease agreement, contracts with your vendors and equipment leases, etc. If the required documents are not in order, buyers will move on to others.

How to Sell My Business

‘How to sell my business,’ is an important consideration to consider when you decideto sell. Before you plan to sell, there are some questions you should ask yourself. You should consider if your business is attractive enough to attract buyers, if there has been a history of profit and the trend thereof, competitive advantages, skilled workers, desirable location ( if applicable) and growth opportunities. You need to ensure that you are ready to sell and well prepared for it. The information memorandum should be professionally prepared by your broker. The value your business should be realistic in the current environment so that a reasonable selling price can be offered. The Brokers job is to find out if potential buyers can afford to buy; and to obtain their background information to ensure they have the ability to buy. Before you negotiate the deal, present a selling memorandum.The terms of the transaction should be spelt out in order to take the offer forward.

Mistakes to Avoid While Selling a Business

Sometimes, small businesses commit blunders representing themselves when they put up their small business for sale. When you are planning to sell, utilize the services of a professional broker so that you can plan the sale in advance. Trying to sell in the current market may take longer than before so it is essential to present the business well from day one and this can be done if you have selected the correct agent to market your business for sale who will take into consideration the industry, the economy, similar businesses and the marketplace whensetting a price tag for your business.

The Best Retail Jobs in the Spotlight

Even though jobs in the retail sector may seem easy to get because of the large number of vacancies, they usually go out to people who are able to stand out. Regardless of whether you are looking for your first ever job, are already working in the retail sector and wish to take advantage of other opportunities, or want to shift from another industry, there are certain tip that will make the search for retail jobs easier for you. Since the interview is the most important component of any job application procedure, it should be focused on.

Your resume is the first impression any potential employer will have of you. The thing that stands out in resumes is quantities. For instance, instead of saying that your performance improved the sales of a previous company you worked with, you should quantify by exactly how much these sales increased. If you have previously worked in the retail sector, you need to specifically mention the type of companies you have worked for as well as the exact responsibilities you held in the job. The name of the company and your job title will not do you much good in the resume. Past retail experience should always be highlighted in your resume when applying for retail jobs.

Before applying for a particular company in the retail sector, you must carry out a thorough research about the company and the kind of products it sells. This information is usually available online or can be gathered by visiting a retail outlet of the company. Before the interview, you should carry out some additional research on the company as this will help you deal with certain specific questions. If you have not worked in retail before and are shifting from another industry, your knowledge of the company’s products is bound to be even more impressive and give you an edge over other candidates.

Flexibility and commitment are two things that are sure to be a win in retail jobs. Make sure you mention these in your resume or cover letter, and emphasize on it again in your interview. Most retail stores are open 24 hours a day and hence you need to mention if you can be flexible in your working hours. Moreover, you should also state that you will be able to work some extra hours during high demand seasons. These two aspects are particularly important for those who are getting their first ever job or are moving from another industry. Make sure you highlight the skills you have previously acquired from professional experiences or volunteer work.

FindThe Right Timing to Buy a Business in Australia

In the second quarter of 2011, the number of businesses that were offered for sale in the market in Australia reached record highs. Although this situation corrected itself somewhat, 12 months later the second quarter of 2012 saw the number of small and medium businesses advertised for sale grew six percent. With more and more businesses coming onto the market, it will impact on valuations and will thus be advantageous if you buy a business in Australia. Although, it’s easy to point to the slowdown in the global economy as the culprit, the reasons are more myriad than you might think.

Reasons for selling

When the economy is booming, why would an owner sell? It’s simple,the seller can make a substantial profit by selling at the top of the market. That’s why you see larger enterprises buying up commercial businesses for sale even if the figures show that those very businesses are not very profitable as there are synergies to consider.

Secondly, even if the economy is stable and the company is doing well, it often comes to a point when the owner is looking for a change in scenery or just wishes to retire and this is understandable as it is difficult to sustain and grow a business when the inspiration and commitment is no longer there.

How to choose a business to buy

Knowledge and experience in the industry you are trying to enter into is an advantage when you decide to acquire a small business for sale in Australia. Ensure the reason for sale is valid and that the seller will provide adequate training and handover periods. Full financial disclosures of the busienss should be available to youwhen negotiating to agree to a fair price for the busienss.

Finding the right broker

On average, there’s an upsurge in the number of commercial businesses for sale in Australia during September, October and November of each year when businesses have completed their year end financials.

If you want to buy a business in Australia, it’s a good idea to meet and engage with the business broker so you can be provided with all the important information of the company (its market, operations, financials, lease, staff, etc.). It is normal that the seller pays the business broker commission on the successful sale, but it is important that you work with the right business broker who has the experience and skill in business valuation, sales, legal requirements, negotiation skills and network.