ASSIGNMENT ON

STRATEGIC RETAIL PLANNING AND

OPERATION MANAGEMENT

SUBMITTED TO Mr.BABAJ

SUBMITTED BY SUNIL KUMAR GUPTA

ROLL NO 07417003909

COURSE MBA 4TH SEM

STRATEGIC RETAIL PLANNING

A Retail Strategy can be defined as a specific plan or framework of action that direct a
retailer to achieve its goals.

A Strategic Retail Planning is the total planning of company's overall resources for the
achievement of objective.

It describes how retailers select target market segment, determine the appropriate retail
format, and build a sustainable competitive advantage

Benefit or Features of Strategic Retail Planning

1. Strategic Retail Planning Provides thorough analysis of the requirements for doing
business for different types of retailers
2. Strategic Retail Planning Outlines retailer goals
3. Strategic Retail Planning determine how to differentiate itself from competitors
4. Strategic Retail Planning Allows an analysis of the legal, economic, and competitive
environment
5. Strategic Retail Planning Encourages anticipation and avoidance of crises

Components of Strategic Planning

 Strategic planning - Adapting the resources of the firm to the opportunities and threats
of an ever-changing retail environment.

 Through the proper use of strategic planning, retailers hope to achieve and maintain a
balance between resources available and opportunities ahead.

 Strategic planning consists of four components:

 Development of a mission (or purpose) statement for the firm.

 Definition of specific goals and objectives for the firm.

 S(strengths)W(weaknesses)O(opportunities)T(threats) analysis.
  Development of basic strategies that will enable the firm to reach its objectives
and fulfill its mission.

Mission Statement
 It is a basic description of the fundamental nature, rationale, and direction of the firm.

 Elements of a mission statement are:

 How the retailer uses or intends to use its resources.

 How it expects to relate to the ever-changing environment.

 The kinds of values it intends to provide in order to serve the needs and wants of
the consumer.

Statement of Goals and Objectives

 Provide:

 Specific direction and guidance to the firm in the formulation of its strategy.

 A control mechanism by establishing a standard against which the firm can

measure and evaluate its performance.

 Market performance objectives

 Establish the amount of dominance the retailer seeks in the marketplace.

 Market share - The retailer’s total sales divided by total market sales.

OPERATION MANAGEMENT

Operations management is an area of management concerned with overseeing, designing, and

redesigning business operations in the production of goods and/or services. It involves the
responsibility of ensuring that business operations are efficient in terms of using as little
resources as needed, and effective in terms of meeting customer requirements. It is concerned
with managing the process that converts inputs (in the forms of materials, labor, and energy) into
outputs (in the form of goods and/or services). The relationship of operations management to
senior management in commercial contexts can be compared to the relationship of line officers
to the highest-level senior officers in military science. The highest-level officers shape the
strategy and revise it over time, while the line officers make tactical decisions in support of
carrying out the strategy. In business as in military affairs, the boundaries between levels are not
always distinct; tactical information dynamically informs strategy, and individual people often
move between roles over time.

Operations traditionally refers to the production of goods and/or services separately, although the
distinction between these two main types of operations is increasingly difficult to make as
manufacturers tend to merge product and service offerings. More generally, operations
management aims to increase the content of value-added activities in any given process.
Fundamentally, these value-adding creative activities should be aligned with market opportunity
(through marketing) for optimal enterprise performance.

According to the U.S. Department of Education, operations management is the field concerned
with managing and directing the physical and/or technical functions of a firm or organization,
particularly those relating to development, production, and manufacturing. Operations
management programs typically include instruction in principles of general management,
manufacturing and production systems, plant management, equipment maintenance
management, production control, industrial labor relations and skilled trades supervision,
strategic manufacturing policy, systems analysis, productivity analysis and cost control, and
materials planning.[1][2] Management, including operations management, is like engineering in
that it blends art with applied science. People skills, creativity, rational analysis, and knowledge
of technology are all required for success.