Performance Indicators for BLTDM

Used X / Performance indicators for BLTDM
4 / Analyze business systems and procedures
·  Does the company have a Code of Conduct that explains the company’s expectations with respect to ethical situations?
·  There is a Code of Conduct for accountants from the professional organization
·  According to the Code, is the employee required to report stock purchases based on company information (eg. Legal insider trading)
·  Has there been training ethics in the company? Example—a workshop in dealing with ethical dilemmas
·  Is there whistleblower protection?
·  Has the company culture set a moral tone and expectations?
·  Does the leadership in the company act ethically?
·  Participants should outline the role and necessary action of the operations/loss prevention team within the business system. Ideas might include:
o  Recommending and enforcing a safe warehouse layout
o  Assessing the current employee training program as well as recommending training changes to the HR department for them to enforce
o  Evaluate current security systems and make recommendations for further action to reduce theft
·  Participants should make the connection between the impact of the operations/loss prevention team on the procedures of other departments and the success of the business as a whole
2 / Analyze company resources to ascertain policies and procedures
A set of policies are principles, rules, and guidelines formulated or adopted by an organization to reach its long-term goals and typically published in a booklet or other form that is widely accessible
Policies and procedures are designed to influence and determine all major decisions and actions, and all activities take place within the boundaries set by them. Procedures are the specific methods employed to express policies in action in day-to-day operations of the organization. Together, policies and procedures ensure that a point of view held by the governing body of an organization is translated into steps that result in an outcome compatible with that view
·  Does the student consider media policies?
·  Is their plan realistic?
·  Participant demonstrates and adheres to the following policies and procedures as stipulated in the case study:
o  Customers can make special orders for an extra fee; and,
o  When signing an order form, customers are told that the delivery date can fluctuate 7-10 business days
·  Given these policies, the participant might acknowledge that the store should have informed the customer (judge) immediately when the customer called to make the change of wedding date, as an act of good customer service
·  The participant may be innovative in devising solutions or new policies for the store insofar as they do not contradict any of those already mentioned. Examples of such policies are:
o  For deliveries that are late at the fault of the store, the customer may choose another item to be express delivered for their occasion
o  Customer may pay an additional fee for express delivery on the existing order
o  Customer may pick up the item directly from the wholesaler
2 / Analyze operating results in relation to budget/industry.
Analyze product information to identify product features and benefits
Participants should use the facts from the case for each product line to identify how the proposed destination will benefit the multi-generation family. They should consider the types of activities provided teach destination and the appeal for people of various age groups. Solutions should specifically state how the chosen destination appeals to each generation
Participants should identify the destinations they believe would be most successful and least successful based on their analysis of features and benefits to each generation.
Analyze the impact of technology on buying and merchandising
Analyze the use of central buying.
11 / Apply decision-making principles and techniques to a situation with an ethical dilemma
·  Unstructured, non-programmed problem—this is a unique situation
·  Seek information from experts—lawyers, accountants, Board of Directors, Human Resource Department
·  Find proof of the situation—is the anonymous tip accurate?
·  Reduce the uncertainty of the situation—gather information
·  Dilemma – no clear answer; potential for misinterpretation and conflict of interest
·  Formalized model – consistency in approach
·  Ask questions: Is it fair? Is it right? Does it enhance the reputation of the firm? Am I comfortable if the press released my decision?
·  Honesty/transparency
Assess information needs
Determining who users of the information will be
What type of information is needed and what they plan to do with the information
What type of information is already available?
Costs involved
Timelines (how soon do they need the information?)
A needs assessment is a systematic process for determining and addressing needs, or "gaps" between current conditions and desired conditions or "wants". The discrepancy between the current condition and wanted condition must be measured to appropriately identify the need. The need can be a desire to improve current performance or to correct a deficiency. A needs assessment is a part of planning processes, often used for improvement in individuals, education/training, organizations, or communities. It can refine and improve a product such as a service a client receives. It can be an effective tool to clarify problems and identify appropriate interventions or solutions. By clearly identifying the problem, finite resources can be directed towards developing and implementing a feasible and applicable solution. Gathering appropriate and sufficient data informs the process of developing an effective product that will address the group’s needs and wants. Needs assessments are only effective when they are ends-focused and provide concrete evidence that can be used to determine which of the possible means-to-the-ends are most effective and efficient for achieving the desired results
In this case there are 2 sets of needs to be assessed. The needs of those seeking information on the companies through the evaluations of others, and the needs of those companies in wanting fair and ethical assessments.
2 / Assess the legality of contracts.
2 / Coach employees
The purpose of coaching is to make sure they understand what they are supposed to do and be able to do it without error. In the case of inventory control systems, we need to make all personnel understand the importance of controlling inventory for the company’s profit situation. Presumably, as profits rise, the employee’s share of the profits will also rise, and a happier employee may be a more trusted employee.
Compare and contrast buying from domestic sources with that of foreign sources
·  List of factors to consider in determining feasibility of offshore sourcing is provided in the case:
Advantages
·  Cost savings – labour, raw materials, production – ability to increase margins
·  Customers – potential appeal to a larger demographic; international reputation possible
·  Timelines – domestic sourcing – assume shorter time frame than outsourcing
·  Economic factors – currency exchange rates, taxes
·  Financial – becomes a huge success – cannot meet demand – is growth possible
·  Diversity – wider range of merchandise – increased customer base
Disadvantages
·  Cost increases – transportation, distribution, returns
·  Image/customers – negative – buy domestic thrust vs imported – quality concerns; loss of customers possible if quality or image is damaged – sweatshops?
·  Timelines – increased because of distance; earlier ordering of raw materials and finished goods; shipping costs increased; contracts to be negotiated; loss of control; requires new contracts and distribution network
·  Buyers – employees - ?expertise; new employees – hiring/training – increased costs; trips – costly; supervision of operations overseas required
·  Communication – network required – long distance; less face to face; potential language barriers; delays likely
·  Legal/economic – must conform to laws of manufacturing nation; export/import tariffs and/or limits; currency; employment laws; fluctuations; instability of government in offshore nation; inflation/deflation; recession/depression – economic cycles; political unrest; sanctions; blockades
·  Financial – costs greater than anticipated and savings not realized; delays; lost customers; labour disputes – delays; products not satisfactory; bankruptcy
·  Diversity – business practices vary – willingness to abide by country requirements; ethics
Convert customer/client objections into selling points
·  Presenter should discuss the benefits of the product
·  Disadvantages should also be discussed
·  Present higher quality products for a lesser price
3 / Coordinate activities in the promotional mix
The four elements of the promotional mix are: advertising, sales promotion, publicity, and personal selling. All elements used should be coordinated to achieve the company’s goals. All initiatives should be coordinated to target the identified markets, clearly communicate the same underlying message.
·  Advertising includes any paid presentation and promotion of ideas, goods, or services by an identified sponsor (Ex. Print ads, radio, television, billboards etc) Place advertisements that would appear locally promoting the award-winning coffee in newspapers, direct mail, posters/billboards Recognize that TV ads would be created for national chain by the national chain itself
·  Sales promotions Incentives designed to stimulate the purchase or sale of a product (Ex. Coupons, sweepstakes, contests, rebates etc. Offer sample coffee taste cups at popular local events and venues) . Sales promotion includes media and non-media marketing communication in order to increase consumer demand, stimulate market demand or improve product availability
·  Public relations includes paid intimate stimulation of supply for a product, service or business unit by planting significant news about it or a favourable presentation in the media and sometimes include direct marketing and sponsorship Contact newspapers and radio stations to come review or feature the restaurant or Sponsor local events
·  Personal Selling is a process of helping and persuading one or more prospects to purchase a good or service or to act on any idea through the use of an oral presentation (Ex. Sales presentations, sales meetings, sales training) Each waiter should up sell by recommending products, especially our award-winning coffee
Participants should describe a variety of creative ideas that address all areas of concern.
Create displays
Retail is a competitive business. Even if your product is completely unique, you still have competition. There is always another store down the street - or in the next cyber-mall - that is aiming for your customers' wallet. Customers have a limited amount of disposable income, but their choices of where to spend it are infinite.
While there are many aspects involved in marketing and gaining customer loyalty, one of the most important is your visual presentation.
Create a focal point
An overwhelming display or a boring one can both have the same problem - a lack of focal point.
• Where do you want your viewer to look?
• Is there one main feature you want them to notice?
• Where will the eye travel through the display? Don't leave this to chance. Plan what the customer should do when they see the display. Perhaps a new product is the main focal point, with complimentary items placed in close proximity to encourage multiple sales. The focal point should be at eye level to most viewers. Visitors will not work to get a good look at your display, they will simply walk on by without noticing.
Use line and shape to plan your design
Don't just put your products together willy-nilly. Practice drawing a quick layout to help you visualize the plan for your design.
• Will your layout be horizontal or vertical?
• Will the products be arranged in straight or curved lines, in a pyramid or circular shape?
• Will the design combine a variety of elements, or just one?
3 Create balance
Strong displays have visual balance. Dark colors appear heavier than light ones. Large objects appear heavier than small ones. This seems straightforward, but you need to think about this as you plan your display.
Generally larger, darker items would be placed near the bottom of a display, with lighter items at the top to avoid appearing top heavy. Placing too many items, or heavy looking items on one side appears unbalanced. A grouping of many items on one side of the display can be balanced by one heavy item in just the right place on the other side. Think of weights on an old fashioned scale to get an idea of how this works.
We all respond emotionally to visual stimuli. Creating a display is about creating a mood and a desire within the consumer. A lack of balance creates an impression of instability and anxiousness. The consumer is not even aware of the feeling, he or she simply searches out an environment or merchandise presentation that gives them a positive feeling and creates an appealing mood.
Keep it simple
Don't try to do too much. The goal is to attract attention to the product. On a slat wall, often simple rows are the best way to show the merchandise. Your goal is to make it easy for the customer to find what they are looking for and to make sense of your product arrangement. Keep your groupings logical by grouping similar products together, with complementary products nearby.
Use proper lighting
Lighting is overlooked far too often. When budgeting for store fixtures and merchandising, display lighting is not an 'extra'. Lighting your displays properly can make the difference between a display that makes people yawn, or makes them stop and look.
Displays should not be lit directly from the top, or you will get unattractive shadows. Lights should be slightly off to the side, and to the front of the display. They should enhance the 3-dimensional quality of the product. Preferably the display will be lit from more than one angle. Lighting should be adjusted every time you change your display.
Look at the display from all angles
After you have completed your display, step back and look at it. Very few people will see it standing directly in front of it. Most displays are approached from the side and seen from an angle.
Approach your display from all possible angles and view it as a customer would.
• Is your focal point still placed appropriately?
• Do you need to angle the display to the customers viewpoint?
• Is the signage visible and readable?
• Does the arrangement still appear balanced?
Observe the direction from which most customers approach the display. Make sure that the best view of the display is the one that most of the customers will see.