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Busi 600 Discussion Board 8 Essay

1758 words - 8 pages

BUSI600 - Discussion Board 8
Group 3

Question 15.3
A problem facing shoe store managers is that many shoes eventually must be sold at markdown prices. This prompts us to conduct a mail survey of shoe store managers in which we ask, What methods have you found most successful for reducing the problem of high markdowns? We are interested in extracting as much information as possible from these answers to better understand the full range of strategies that store managers use. Establish what you think are category sets to code 500 responses similar to the 14 given here. Try to develop an integrated set of categories that reflects your theory of markdown ...view middle of the document...

Because there were five hundred original responses, the possibility exists for more categories. In addition, to make the most of the mail survey, the responses as well as the categories would need to be broadened. The following sub-categories can be used as noted in the shoe managers’ responses and that variable may be titled MDS for markdown strategy. They are: PM, for push-money, MD for markdowns, MP, for minor purchases, GP, for good prices, EM, for essential merchandise, and DI for discontinued items.

TMM - MDS
a) LS: PMs
b) SP: PMs
c) SP: PMs
d) SP: MDs
e) SP: PMs
f) BP: MPs
g) SP: MDs
h) BP: GPs
i) BP: MPs
j) BP: EMs
k) BP: MPs
l) BP: DIs
m) BP: EMs
n) LS: MPs

Question 16.5

Assume you have collected data on sales associates of a large retail organization in a major metropolitan area. You analyze data by type of work classification, education level, and whether the workers were raised in a rural or urban setting. The results are shown here. How would you interpret them (Cooper & Schindler, 2014)?
Annual turnover
employees retail
per 100

High

Education
Low
Education

Salary Hourly Wage
Salaried Hourly
Wage
Salaried Hourly

Wage
Rural 8 16 6 14 18 18
Urban 12 16 10 12 19 20
(Cooper & Schindler, 2014)
An interpretation can be made that individuals that were raised in an urban setting tend to leave the company more than individuals with a rural upbringing. This could simply be because the people with a rural upbringing are less familiar with the area, so it takes them longer to find work elsewhere. There are a few questions that should be asked here.
First, why are people leaving? Is the company not paying well enough? Is there management problems? Is the job simply too menial? There has to be a reason why these people are leaving.
Another question to be asked is how skilled are the employees currently working. If the employees are highly skilled, there needs to be something done to retain them. This could involve pay raises, but it could also involve benefits like vacation time, increased health benefits, etc… If the work hours are undesirable, maybe a shift premium would help offset the inconvenience of working nights and weekends.
The data seems to suggest that there is very little difference between the educated and uneducated worker retention. Other variables may need to be considered. The most obvious place to look first might be wages, benefits, and work hours. The cost to keep training new employees has got to be significant, so more focus should be given to employee retention than there appears to be now.
Employee surveys would be a good start to aid in employee retention. A suggestion box might also help as well. Giving the employees a voice might empower them to take ownership of their workplace, and ultimately increase employee retention.

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