Study sets, textbooks, questions
Upgrade to remove ads
Chapter 2 - Retail Strategic Planning and Operations Management
Terms in this set (17)
Involves adapting the resources of the firm to the opportunities and threats of an ever-changing retail environment.
Is a basic description of the fundamental nature, rationale, and direction of the firm.
Is the retailer's total sales divided by total market sales.
Net Profit Margin
Is the ratio of net profit (after taxes) to total sales and shows how much profit a retailer makes on each dollar of sales after all expenses and taxes have been met.
Is total sales divided by total assets and shows how many dollars of sales a retailer can generate on an annual basis with each dollar invested in assets.
Return on Assets (ROA)
Is net profit (after taxes) divided by total assets.
Is total assets divided by net worth or owners' equity and shows how aggressive the retailer is in its use of debt.
Return on Net Worth (RONW)
Is net profit (after taxes) divided by owners' equity.
Are products that are out of stock and therefore unavailable to customers when they want them.
State the sales objectives that the retailer desires for each unit of resource input: floor space, labor, and inventory investment.
Are those that reflect the retailer's desire to help society fulfill some of its needs.
Are those that reflect the retailers' desire to help individuals employed in retailing fulfill some of their needs.
Is a carefully designed plan for achieving the retailer's goals and objectives.
The group(s) of customers that a retailer is seeking to serve.
Is the combination of merchandise, price, advertising and promotion, location, customer service and selling, and store layout and design.
Is a clear statement of the tangible and intangible results a customer receives from shopping at and using the retailer's products or services.
Deals with activities directed at maximizing the efficiency of the retailer's use of resources. It is frequently referred to as day-to-day management.
It attempts to deal with the fact that projects are often chaotic and unpredictable by increasing flexibility and adaptability. also focuses on innovation and enabling people to discover the best solutions and self correct themselves
The EMT documents the patient has difficulty taking breaths after sustaining a motor vehicle collision. Which term should be used in the documentation of this problem?
Which factor is a test you can use to determine whether you have broken down the work to the right level?
T/F: Criterion contamination occurs when correlations between two raters of an employee are inconsistent.
Sets found in the same folder
Chapter 1 - Perspectives on Retailing
Chapter 3 - Retail Customers
Chapter 4 - Evaluating the Competition in Retailing
Chapter 6 - Legal and Ethical Behavior
Sets with similar terms
Retail-Chapters 1&2- Terms
retailing chapter 2
Retail Management Test 1 Terms
MOS 2277 Chapter 11
Other sets by this creator
MKT 350 Test 4
Test 3 MKT 350
GBU 480 Midterm
MKT 310 Exam 1 Chapters 1-5
Other Quizlet sets
Lecture 15: Time course of delayed drug effects
sports inj 2
Romeo And Juliet Key quotes
Towing protective custody of vehicle and content