You are planning to open a sporting goods store in your hometown. List the activities you would need to do for each of the functions of management: (1) planning, (2) organizing, (3) directing, and (4) controlling. Also, discuss the levels of management you would need and develop an organization chart. Lastly, explain your management style. What type of manager would you be?
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developing a organization chart
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To effectively open a sporting goods store in your hometown, you would need to perform various activities for each of the functions of management – planning, organizing, directing, and controlling. Let's break down the activities for each function:
1) Planning:
- Conduct market research to identify the target customer base and understand their needs and preferences.
- Determine the store's product offerings, pricing strategies, and competitive positioning.
- Develop a comprehensive business plan including financial projections, marketing strategies, and operational goals.
2) Organizing:
- Recruit and hire staff members with relevant expertise in sales, customer service, inventory management, and marketing.
- Design the store layout and allocate space for various product categories.
- Establish departments (such as sales, marketing, finance, and operations) and determine reporting structures.
3) Directing:
- Provide clear instructions and expectations to employees regarding their roles and responsibilities.
- Train and develop employees to enhance their skills and product knowledge.
- Motivate and inspire the team to achieve sales targets and deliver excellent customer service.
4) Controlling:
- Implement inventory management systems to track stock levels, monitor sales velocity, and optimize reordering processes.
- Regularly evaluate sales performance and customer satisfaction metrics to identify areas for improvement.
- Analyze financial statements and compare them against forecasted figures to gauge the store's financial health.
Regarding the levels of management, for a sporting goods store, you might need the following levels:
1) Top-level management: Store Owner/CEO - responsible for strategic planning, decision-making, and overall direction of the store.
2) Middle-level management: Store Manager(s) - overseeing daily operations, supervising department managers, coordinating with top management, and ensuring the store's goals are achieved.
3) Department Managers: In charge of specific functions like sales, marketing, finance, and operations, responsible for executing the store's strategies within their departments.
Here's a basic organization chart:
Store Owner/CEO
|
--------------------
| |
Store Store
Manager Manager
| |
Departments Departments
(Sales, (Marketing,
Operations) Finance, etc.)
As for management style, it would depend on your personal approach, but you can aim to be a combination of different management styles. However, one popular style is the democratic or participative management style. This involves involving employees in decision-making, encouraging collaboration, and actively seeking input from the team. By adopting this style, you can empower your employees, foster a positive work environment, and leverage the collective intelligence of your team.