{"id":1970,"date":"2018-03-27T21:24:28","date_gmt":"2018-03-27T21:24:28","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/?post_type=chapter&#038;p=1970"},"modified":"2024-04-25T02:46:58","modified_gmt":"2024-04-25T02:46:58","slug":"divisions-of-a-retail-business","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/chapter\/divisions-of-a-retail-business\/","title":{"raw":"Divisions of a Retail Business","rendered":"Divisions of a Retail Business"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Objectives<\/h3>\r\n<ul>\r\n \t<li>Name some key divisions of a retail business and the people who head them<\/li>\r\n<\/ul>\r\n<\/div>\r\nLarger stores, such as national chains, will have multiple sectors where daily operations are handled. Depending on the retail organization, the exact terminology for each division and title held by each individual employee may vary but are typically similar in nature from store to store. \u00a0\u201cTitles demonstrate the importance of the business functions, either internally or externally.\u201d[footnote]Lee, H., &amp; Scott, C. J. (2015). Marketing or sales: The executive decision. <em>The Journal of\u00a0 Business Strategy<\/em>, 36(5), 43\u201349.[\/footnote]\u00a0 Executive, finance, operations and sales are integral parts of a large retail organizational structure. \u00a0The executive level deals with preparation and planning. Finance would handle the bookkeeping and accounting aspects of the retail store. \u00a0Sales, also called store operations, would be responsible for merchandising or customer service and regular procedures implemented within the store itself. \u00a0Operations, also sometimes called regional operations consist of warehousing and transporting the merchandise.\r\n<h2>Executive<\/h2>\r\nAs established in earlier this module, the CEO (or president) of a large retail company is the primary decision maker for the company. As with larger businesses the CEO reports to the shareholders and is the company\u2019s principal decision maker. \u201cQuick thinking, an ability to react swiftly to changing circumstances, knowing what to do immediately when faced with a challenging situation. What company can afford to have a CEO who does not fit that description?\u201d[footnote]Meeks, M. D. (2015). STRATEGIC MANAGEMENT AND THE DISPARATE DUTIES OF THE CEO. <em>Academy of Strategic Management Journal<\/em>, 14(2), 93\u2013116.[\/footnote]\u00a0 The executive division of a retail store will also consist of management and in the largest of companies\u2019 corporate recruiters who are responsible for recruiting the top-level executives. These roles within a retail organization which handle planning and hiring are sometimes termed Central Operations.[footnote]<a href=\"https:\/\/study.com\/academy\/lesson\/retail-organizational-structure-management-personnel-training.html\" target=\"_blank\" rel=\"noopener\">https:\/\/study.com\/academy\/lesson\/retail-organizational-structure-management-personnel-training.html<\/a>[\/footnote]\r\n<h2>Finance<\/h2>\r\nIn many national chain and diversified retail markets the organizational structure may consist of a finance department. \u00a0This department would house bookkeepers, accountants and sometimes tax attorneys who keep records of the financial dealings of a company. Accountants would record profit margins and losses as well as inventory costs. Tax attorneys would assist in financial planning, navigate complex tax codes and laws, handle disputes before the Internal Revenue Service (IRS) and oversee tax planning to legally minimize tax burdens.[footnote]Greenaway, T. D. (2015). Common threads and trends in tax. <em>The Tax Lawyer<\/em>, 68(2), 311\u2013320.[\/footnote] Bookkeepers would also do a variety of tasks including print checks and keep track of employees\u2019 hours in order to pay them their wages.\r\n<h2>Operations and Sales<\/h2>\r\nOperations consist of warehouse and distribution. A Warehouse Operations Manager might be one of the titles you would find in this sector of a retail organization. Not only do these types of managers oversee the housing and transport of merchandise but they also make decisions with regard to planning such as which software best functions for their warehouse operations.[footnote]Faber, N., de Koster, M. B. M., &amp; Smidts, A. (2013). Organizing warehouse management. <em>International Journal of Operations &amp; Production Management<\/em>, 33(9), 1230\u20131256. doi:10.1108\/IJOPM-12-2011-0471[\/footnote] Sales is another sector which deals with the day to day operations and functions of a retail store. In larger retail stores a Corporate Sales Manager (CSM) heads this division of a retail organization. CSM\u2019s oversee the sales force which works within a retail business. \u00a0These types of managers would spend time on the sales floor as well as behind the scenes in the office of a store.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Questions<\/h3>\r\nhttps:\/\/assess.lumenlearning.com\/practice\/7e54582a-5318-48fb-9403-9d9518e74a43\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Objectives<\/h3>\n<ul>\n<li>Name some key divisions of a retail business and the people who head them<\/li>\n<\/ul>\n<\/div>\n<p>Larger stores, such as national chains, will have multiple sectors where daily operations are handled. Depending on the retail organization, the exact terminology for each division and title held by each individual employee may vary but are typically similar in nature from store to store. \u00a0\u201cTitles demonstrate the importance of the business functions, either internally or externally.\u201d<a class=\"footnote\" title=\"Lee, H., &amp; Scott, C. J. (2015). Marketing or sales: The executive decision. The Journal of\u00a0 Business Strategy, 36(5), 43\u201349.\" id=\"return-footnote-1970-1\" href=\"#footnote-1970-1\" aria-label=\"Footnote 1\"><sup class=\"footnote\">[1]<\/sup><\/a>\u00a0 Executive, finance, operations and sales are integral parts of a large retail organizational structure. \u00a0The executive level deals with preparation and planning. Finance would handle the bookkeeping and accounting aspects of the retail store. \u00a0Sales, also called store operations, would be responsible for merchandising or customer service and regular procedures implemented within the store itself. \u00a0Operations, also sometimes called regional operations consist of warehousing and transporting the merchandise.<\/p>\n<h2>Executive<\/h2>\n<p>As established in earlier this module, the CEO (or president) of a large retail company is the primary decision maker for the company. As with larger businesses the CEO reports to the shareholders and is the company\u2019s principal decision maker. \u201cQuick thinking, an ability to react swiftly to changing circumstances, knowing what to do immediately when faced with a challenging situation. What company can afford to have a CEO who does not fit that description?\u201d<a class=\"footnote\" title=\"Meeks, M. D. (2015). STRATEGIC MANAGEMENT AND THE DISPARATE DUTIES OF THE CEO. Academy of Strategic Management Journal, 14(2), 93\u2013116.\" id=\"return-footnote-1970-2\" href=\"#footnote-1970-2\" aria-label=\"Footnote 2\"><sup class=\"footnote\">[2]<\/sup><\/a>\u00a0 The executive division of a retail store will also consist of management and in the largest of companies\u2019 corporate recruiters who are responsible for recruiting the top-level executives. These roles within a retail organization which handle planning and hiring are sometimes termed Central Operations.<a class=\"footnote\" title=\"https:\/\/study.com\/academy\/lesson\/retail-organizational-structure-management-personnel-training.html\" id=\"return-footnote-1970-3\" href=\"#footnote-1970-3\" aria-label=\"Footnote 3\"><sup class=\"footnote\">[3]<\/sup><\/a><\/p>\n<h2>Finance<\/h2>\n<p>In many national chain and diversified retail markets the organizational structure may consist of a finance department. \u00a0This department would house bookkeepers, accountants and sometimes tax attorneys who keep records of the financial dealings of a company. Accountants would record profit margins and losses as well as inventory costs. Tax attorneys would assist in financial planning, navigate complex tax codes and laws, handle disputes before the Internal Revenue Service (IRS) and oversee tax planning to legally minimize tax burdens.<a class=\"footnote\" title=\"Greenaway, T. D. (2015). Common threads and trends in tax. The Tax Lawyer, 68(2), 311\u2013320.\" id=\"return-footnote-1970-4\" href=\"#footnote-1970-4\" aria-label=\"Footnote 4\"><sup class=\"footnote\">[4]<\/sup><\/a> Bookkeepers would also do a variety of tasks including print checks and keep track of employees\u2019 hours in order to pay them their wages.<\/p>\n<h2>Operations and Sales<\/h2>\n<p>Operations consist of warehouse and distribution. A Warehouse Operations Manager might be one of the titles you would find in this sector of a retail organization. Not only do these types of managers oversee the housing and transport of merchandise but they also make decisions with regard to planning such as which software best functions for their warehouse operations.<a class=\"footnote\" title=\"Faber, N., de Koster, M. B. M., &amp; Smidts, A. (2013). Organizing warehouse management. International Journal of Operations &amp; Production Management, 33(9), 1230\u20131256. doi:10.1108\/IJOPM-12-2011-0471\" id=\"return-footnote-1970-5\" href=\"#footnote-1970-5\" aria-label=\"Footnote 5\"><sup class=\"footnote\">[5]<\/sup><\/a> Sales is another sector which deals with the day to day operations and functions of a retail store. In larger retail stores a Corporate Sales Manager (CSM) heads this division of a retail organization. CSM\u2019s oversee the sales force which works within a retail business. \u00a0These types of managers would spend time on the sales floor as well as behind the scenes in the office of a store.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Questions<\/h3>\n<p>\t<iframe id=\"assessment_practice_7e54582a-5318-48fb-9403-9d9518e74a43\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/7e54582a-5318-48fb-9403-9d9518e74a43?iframe_resize_id=assessment_practice_id_7e54582a-5318-48fb-9403-9d9518e74a43\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-1970\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Divisions of a Retail Business. <strong>Authored by<\/strong>: Freedom Learning Group. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section><hr class=\"before-footnotes clear\" \/><div class=\"footnotes\"><ol><li id=\"footnote-1970-1\">Lee, H., &amp; Scott, C. J. (2015). Marketing or sales: The executive decision. <em>The Journal of\u00a0 Business Strategy<\/em>, 36(5), 43\u201349. <a href=\"#return-footnote-1970-1\" class=\"return-footnote\" aria-label=\"Return to footnote 1\">&crarr;<\/a><\/li><li id=\"footnote-1970-2\">Meeks, M. D. (2015). STRATEGIC MANAGEMENT AND THE DISPARATE DUTIES OF THE CEO. <em>Academy of Strategic Management Journal<\/em>, 14(2), 93\u2013116. <a href=\"#return-footnote-1970-2\" class=\"return-footnote\" aria-label=\"Return to footnote 2\">&crarr;<\/a><\/li><li id=\"footnote-1970-3\"><a href=\"https:\/\/study.com\/academy\/lesson\/retail-organizational-structure-management-personnel-training.html\" target=\"_blank\" rel=\"noopener\">https:\/\/study.com\/academy\/lesson\/retail-organizational-structure-management-personnel-training.html<\/a> <a href=\"#return-footnote-1970-3\" class=\"return-footnote\" aria-label=\"Return to footnote 3\">&crarr;<\/a><\/li><li id=\"footnote-1970-4\">Greenaway, T. D. (2015). Common threads and trends in tax. <em>The Tax Lawyer<\/em>, 68(2), 311\u2013320. <a href=\"#return-footnote-1970-4\" class=\"return-footnote\" aria-label=\"Return to footnote 4\">&crarr;<\/a><\/li><li id=\"footnote-1970-5\">Faber, N., de Koster, M. B. M., &amp; Smidts, A. (2013). Organizing warehouse management. <em>International Journal of Operations &amp; Production Management<\/em>, 33(9), 1230\u20131256. doi:10.1108\/IJOPM-12-2011-0471 <a href=\"#return-footnote-1970-5\" class=\"return-footnote\" aria-label=\"Return to footnote 5\">&crarr;<\/a><\/li><\/ol><\/div>","protected":false},"author":62559,"menu_order":5,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Divisions of a Retail Business\",\"author\":\"Freedom Learning Group\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"ef0dcda4-3d12-4e38-9294-834106c3a51a, 0c5da2b5-623a-4844-96fd-a756054edd72","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-1970","chapter","type-chapter","status-publish","hentry"],"part":1960,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/users\/62559"}],"version-history":[{"count":10,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1970\/revisions"}],"predecessor-version":[{"id":6458,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1970\/revisions\/6458"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/parts\/1960"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapters\/1970\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/media?parent=1970"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/pressbooks\/v2\/chapter-type?post=1970"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/contributor?post=1970"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-retailmanagement\/wp-json\/wp\/v2\/license?post=1970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}