Management, Books and Learning

  The biggest advantages are know how, previous experience, ability to deal with ambiguity and the ability to create value in a very short period of time.  Too often clients hire people and call them 'consultants' just because they are on a contract.    There's a huge difference between contractors and consultants IMO. Contractors are usually brought in to fill staff augmentation roles for a period of time.  Think - I need a Project Manager to manage project 'xyz' for 3 months.  They need only have generic PM skills in many cases and the ability to execute.    True consultants are brought in because of their expertise in a specific functional area or areas.  They bring knowledge to the table which isn't available in house and can both execute the tasks at hand as well as guide the client and provide advice towards decisions which need to be made now and in the future.  By bringing in additional subject matter expertise there's a ty...

  The core of business consulting is to solve problems. Client problems statements can vary in terms of what is known and how well-articulated they are.   For example, some problem statements consultant may face are: a) How much should I bid for wireless spectrum in the top 25 metro areas in the United States in X, Y, and Z auctions? b) How can I leverage the data I am collecting already and launch a business in this adjacent market? c) How should I link my customer relationship management system more closely with my web presence and accounting system? d) I need to reduce my customer response times and cost structure for services. What options do I have, what should I do, and can you help me make the changes?   For the problem statements above, each problem statement focuses a little bit different in terms of weight on analysis, strategy development, incubation, and execution required.   You will find consultants that tend to focus more on analysis and strategy...

Retail Management Meaning and its Need What is management ? Management refers to the process of bringing people together on a common platform and make them work as a single unit to achieve the goals and objectives of an organization. Management is required in all aspects of life and forms an integral part of all businesses. Retail management The various processes which help the customers to procure the desired merchandise from the retail stores for their end use refer to retail management . Retail management includes all the steps required to bring the customers into the store and fulfill their buying needs. Retail management makes shopping a pleasurable experience and ensures the customers leave the store with a smile. In simpler words, retail management helps customers shop without any difficulty. Need for Retail Management - Why retail management ? Peter wanted to gift his wife a nice watch on her birthday. He went to the nearby store to check out few o...

Cross Merchandising Retailing refers to the concept of selling merchandise in small quantities to the consumers for their end use. According to retailing, the individual can walk up to any nearby retail store and purchase products as per his need and pocket in small units for his own consumption. The display of merchandise at the store plays an important role in attracting the customers into the store . The display of the products at the retail store goes a long way in influencing the buying behaviour of the consumers. The presentation of the products is essential to create that first impression in the minds of the consumers. Cross Merchandising Cross merchandising refers to the display of opposite and unrelated products together to earn additional revenues for the store . Products from different categories are kept together at one place for the customers to find a relation among them and pick up all. According to cross merchandising: Unrelated products are d...

Merchandising Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them to purchase as well. Merchandising helps in the attractive display of the products at the store in order to increase their sale and generate revenues for the retail store. Merchandising helps in the sensible presentation of the products available for sale to entice the customers and make them a brand loyalist. Promotional Merchandising The ways the products are displayed and stocked on the shelves play an important role in influencing the buying behavior of the individuals. A merchandiser maximizes the sale of the products by: Attractive packaging The packaging of the merchandise goes a long way in improving the brand value of the...

Start saving by using these  8 Inventory Management Techniques Why Inventory Management Is Important Holding inventory ties up a lot of cash. That's why good inventory management is crucial for growing a company. Just like cash flow, it can make or break your business.  Inventory Management Saves You Money Good inventory management saves you money in a few critical ways: Avoid Spoilage If you’re selling a product that has an expiry date (like food or makeup), there’s a very real chance it will go bad if you don’t sell it in time. Solid inventory management helps you avoid unnecessary spoilage. Avoid Dead Stock Dead stock is stock that can no longer be sold, but not necessarily because it expired. It could have gone out of season, out of style, or otherwise become irrelevant. By managing your inventory better, you can avoid dead stock. Save on Storage Costs Warehousing is often a variable cost, meaning it fluctuates based on...