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Retail management is the process which helps customers to purchase the goods from retail stores for their end use. Retail management starts with bringing in the customers to the store and make the purchases and left the store satisfied and happy. There are various things which retail manager should take care of to achieve the goal of sales maximization. There should not any difficulty to the customer while shopping like there should not be any queue as one can never enjoy waiting. The products in the store should be well arranged with the name of the product, price of the product and also according to the categories. With displayed prices, customers will be able to compare the product and will buy the best one. Similar kind of products should be put in a category and category wise they should be displayed on the shelves. It will make allocating of the product easier for the customer and they will able to collect their merchandise in lesser time and without any assistance.
A retail store should have enough stock because if the consumer will not get all the merchandise at one store and he has to go to another store to collect his merchandise then it will dissatisfy him and he may not prefer to visit the store again. For billing, there should be appropriate counters, less than required will keep the customer waiting which nobody likes. There should be an attractive display of goods to increase sells. The retail store should be neat and clean. To attract more customers, Retail manager should plan some schemes like buy one get one or some percent off on particular products. There should be a sales team for assistance to customers and those sales representatives should greet customers with a smile. If all these things will be kept in mind then the customer will return happy to his home and will keep visiting the store.
Answer: Money creation is a process with the help of which the money supply or the flow of money in one country can be increased or it can also be decreased in the same manner. The money creation process is done by the banks as they provide loans to the public from the amount of money which the local public deposits with them. Money supply is also a form of credit creation or bank deposits. The central bank of each country forms and regulated the different bank rates as per which the bank has to operate in the market or in the industry and these regulations can also give rise to the inflation or deflation in the country as the supply of money is wholly in the control of central bank and the regulations made by the central bank of the country. The Treasury normally issues bonds to finance some portion of the government’s expenditures. The central bank then buys in the open market an amount of these sufficient to put in circulation the appropriate quantity of money. In some cases, the central bank may buy bonds directly from the Treasury, who puts the funds in circulation when it makes government expenditures with them.
Answer: Bitcoin is a form of cryptocurrency, which is also a form of electronic cash. Bitcoin has a decentralized banking system without a central bank or single administrator that can be sent from one user to another user on the peer to peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
Answer: The four main functions of management are –
1. Planning – The first and the most important function of the management is to plan the workings of the organization or the company to achieve a certain set of objectives and goals in the organizations for which the organization has been formed by the promoters. Each and every activity of the organization should be planned well and the plans of the organization should be executed well for the accomplishment of certain tasks in the organization.
2. Organizing – Organizing means managing all the things that are required to work in the organization. Broadly it includes organizing the different resource required by an organization and delegating authorities and assigning work to the employees of the organization.
3. Leading – Leading means motivating the employees to get work done by them and inspiring them to complete the certain tasks assigned to them by taking regular motivation sessions and the training and development classes that are required by the employees of the organization to work efficiently and effectively in the organization.
4. Controlling – Controlling function helps to keep an eye on the different working of the organization. It is the comparison stage in which the standard results are compared with the actual results and helps the organization in filling the gaps between the standard or planned work with the actual workings.
Answer: The main objectives of management are –
1. Getting maximum results with minimum efforts – The main objective of management is to make the optimum use of the available resources within the given stipulated time provided to the organization or to the company. This combination must reduce the cost of the company in manufacturing or producing the product or services and gain profits as much as possible.
2. Increasing efficiency of factors of production – By reducing the amount of waste production and idle time cost we can increase the efficiency of production capacity and the overall cost of the production can be decreased.
3. Smooth coordination between employees and the employer – It is the responsibility of the management to ensure smooth coordination between the employees of the organization and different senior level management of the organization which can help in making an informal structure of organization in which each and every employee can share his viewpoints and his or her thoughts to the public.
4. Corporate social responsibility – The management of the organization has some responsibilities towards the society and its welfare like they must provide regular job or employment opportunities to the people and they should work for increasing the living standard of the public in the society in which they are operating.
Answer: Foreign direct investment is a type of investment in which one country allows the other countries to invest in their country and expand their workings. Foreign Direct Investment not only allows the country to flow the money and its related assets but also the knowledge, skills and the new and advanced equipment’s and software’s which the developed countries use in their workings on daily basis. Foreign direct investment helps a country to grow more and more like the foreign companies who set up their business here in our country provides employment opportunities in our country and promotes trade-related activities to the different traders and provide the consumers with the new and better quality of products and services. The higher degree of foreign direct investment also helps the country to make a positive balance of trade in the country as the foreign direct investment helps to reduce the import and its related activities, as it itself brings the new technological equipment’s and new machineries which are imported by the manufacturers and helps the employees to get familiar with them and provides necessary skills and knowledge to use them for producing mass quantity of goods and products and helps in expansion of the company and trade of the country.
Answer – The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions. The FDIC was created by the 1933 Banking Act, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC’s creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2011, the FDIC insures deposits in member banks up to US$250,000 per ownership category.
The FDIC and its reserves are not funded by public funds; member banks’ insurance dues are the FDIC’s primary source of funding. The FDIC also has a US$100 billion line of credit with the United States Department of the Treasury. Only banks are insured by the FDIC; credit unions are insured up to the same insurance limit by the National Credit Union Administration, which is also a government agency. As of the end of 2017, the FDIC provided deposit insurance at 5,670 institutions. The FDIC also examines and supervises certain financial institutions for safety and soundness, performs certain consumer-protection functions, and manages receiverships of failed banks
Answer – the International flow of funds means the movement of cash transactions from one country to the other country. The international flow of funds mainly takes place when the trade between two and more countries takes place and the goods and services are being exchanged from one country to the other. Trade between two or more country are the activities that come under export and import activities and the internationalization of the goods and services or we can say globalization of products and services can take place. The main activities that can define the activities are related to the flow of funds from one place to the other are foreign direct investment, inflationary or deflationary pressure and import and export activities. The direct effect of the international funds flow is on the national income of the country that is gross domestic product or the per capita income and on the government policies, foreign direct investments and on the impacts of the inflations and rise in prices of the goods and the service in the countries where the transactions of international funds flow are more in nature. More transactions depict that the country is growing more and more.
Answer – Global marketing environment is the environment of the market at the global level. It shows how the global market works and how the rules and regulations and the procedures of the different countries and make the market different for the products and the services in each of the countries. Every country has some of the environments that govern the country and these environments set that how the company or the product will lead I the market and the success of the products are mostly dependent upon these factors and these environments can be controllable by the company and sometimes can be out of the reach of the country. The internal and external factors that affect the acceptance and the rejections of the products are the ones which create the major impacts on the products and these are societal, environmental, political, legal and technological factors or the forces which affects the overall business of one country that whether the company or its products will lead to a success or failure in the market. The internal factors like employee’s performance, relations with the suppliers and the product research and development can be controlled by the company’s personnel but can also affect the workings of the business and both the internal and external factors constitute the global market environment for the business entity in the market or in the industry.
Answer – The social responsibility is the concept of incorporating the duties that a company has towards the society and the environment in the market and it is the duty of the business entity to look forward the needs and the requirements of the society like providing them with the employment opportunities and taking some actions to sustain the environment and making the environment less polluted and using the natural resources in such a manner that the needs and requirements of the future generation do not get affected by the workings of the business entity that they practice on a daily basis. It is the responsibility of all the companies to look forward for the society in which they operate and it has been made mandatory by the various governments of the different countries that it is necessary and to help the weaker sections of the society where the companies should also focus and help them to grow and increase their standard of living. The companies can take various actions to solve the problems of society like the companies can regularly donate some amount of money in the charity and can provide the employment opportunities to the unemployed peoples out of the weaker section of society and can incorporate the ethical practices in the business and its related practices and can also contribute in making the environment more greener and more clean and all other activities like connecting to the non profit organizations or orphanages and help the poorer section of society to rise and grow. All these responsibilities lie on the shoulders of the companies and the business entities operating in the business society and in the market in which the business operations and it is the responsibility of all the organizations to serve to the society and to take disciplinary actions toward the society and our environment.
