View Point

The Changing Scenario of Management Education in India
Prof. C. S. Venkataratnam, Member, FICCI Higher Education Committee & Director, IMI, New Delhi
Ms Shobha Mishra,
Joint Director & Team Leader, Education & Health Services Division, FICCI
AcademiaArticle: Towards a successful career
path: MBA in Retail Management
Article: Art & ManagementPersonality Development Current AffairsCampus NewsGD Topics


(Article by Priyank Azad, Faculty – Retail Management, Rai Business School, New Delhi)

Towards a successful career path: MBA in Retail Management

AspirationsRetail sector in India has been a relatively new but most emerging field. Here is an article to tell you what opportunities you have there.

The world, India in particular, has witnessed a retail revolution in the last decade. Retailing has contributed drastically towards the GDP of the country as well as towards employment generation. Looking at this overwhelming performance, Retail management, as an exclusive subject, has found prominent place in the course curriculum of management colleges and institutes.

The following are some of the areas where one can find job in the retail sector:

Store Management – An efficient store manager should have all the qualities of leader. He is the person responsible for motivating his employees and at the same time looking after the customer satisfaction. From planning the sales, inventory management, scheduling and budgeting to the customer satisfaction and establishing a retail image. The store manager is responsible for all the operations inside his retail store.

Merchandising – One of the most crucial tasks for any retailer is managing the merchandise. This profile includes a detailed analysis of the target segment and their needs, negotiating prices with the vendors and ensuring that the merchandise reaches the retail store on time to ensure the availability. A merchandiser should also determine the merchandise assortment that will perform smoothly in a particular store.

Store Design – The employees in this department have to take care of the external and internal store design. The external store design includes the store entrance, the decorations and lightings. The internal store design deals with the fixtures & fittings, architecture and merchandise presentation.

Location planning - Location is considered as one of the strategic decision in retail which can provide a retailer with a sustainable competitive advantage. Location should be easily accessible to the customers, attract maximum footfall for the store and provide all the comforts and amenities to the customers such as parking and washroom facilities etc.

Marketing – This profile includes vast opportunity in retail. From the promotion of the stores, flier distribution, store advertising etc to the overall branding and image positioning of the company is the main attraction of this profile.

Information technology– The officials in this arena are concerned with managing the store systems as well as keeping a track of the inventory levels in each store.

Human Resource– Since the working conditions in retail can be, sometimes, more tedious, the HR officials have a very decisive role to play in putting the right person for the right job

Finance– The employees in this department have to look after the revenues collected in all the stores. Timely audits, shrinkage prevention, payments to the vendors and budgeting play a pivotal role.

The retail industry offers a wide range of opportunities and growth for the young talent. One of the myths in retail job is that the college degrees are not required to succeed in retail and the people are not promoted on the basis of qualification. The initiatives taken by the big companies like Pantaloons, Shoppers Stop, Reliance, Tata etc. to invite the young MBA students directly on the designations of department managers and store managers with a high salary package have indicated in conveying encouraging results in shaping up the careers of the young talent.