Tag: Retail Sector

The Indian retail industry is the fifth largest in the world and one of the fastest growing industries in India. The country is considered as the third most attractive market for retail investment in a list of 30 other emerging markets, according to AT Kearneys Annual Global Retail Development Index 2010.

As the retail sector grows bigger and bigger, there is an urgent requirement to bring in new talents familiar with the know-how of this fast changing sector at each and every stage. To cater to the rising demands for managerial manpower by the Retail Sector companies several established B-schools have started Retail specialization MBA courses. These are BIMTECH, KJ Somaiya, Welingkar, and others.

Envisioning to bridge the widening gap between the supply and demand of trained personnel in the retail industry, Future Group also entered the retail education sector in 2009 with Future Innoversity, as part of its Future Learning initiative.

Retail forms the core business activity of Future Group. Its chain of retail stores named Big Bazaar is already a big name in the retail world. Future Innoversity is offering specialized post-graduate and undergraduate programs viz MBA in Retail and BBA in Retail Services.

Mr. Kurien C K, Dean Academics & Placements, Future Innoversity, while talking to MBAUniverse.com, said that this sector offers great opportunity. The scope of the Indian retail market is immense, for this sector is poised for the highest growth over the next few years.

Justifying the boom of the Retail sector, Mr. Kurien C K said, Urban and rural areas are turning into high potential markets with more domestic and international players entering the field and existing ones stepping up their expansion drives. The growth of the Indian economy is manifesting itself in the growing purchasing power of its citizens and this is reflected in the way goods and services are bought and sold.

Observing on how the Retail sector has changed over the years, Mr. Kurien C K mentioned, Modern retailing has entered the retail market in India and is observed in the form of bustling shopping centers, multi-storied malls and the huge complexes that offer shopping, entertainment and food all under one roof.

Stating the scope of the growth pattern of the industry he said, A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working women population and emerging opportunities in the services sector are going to be the key factors in the growth of the organized retail sector. The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph making this sector the next boom industry.

Taking the Decision
If you are planning your career in the Retail Sector, then an MBA in Retail Sector would give you the opportunity to be an expert in the sector and make you a professional from the Day 1 of your career. But you may think whether to go with specialized MBA in Retail Sector or General MBA. If you are keen on a particular sector, such as Retail and you are sure that this is the area you want to pursue your career in, then you will find it easier to take the decision on whether to go for the specialized MBA or the general MBA.

Addressing the issue of general MBA vs. specialized MBA, Mr. Kurien C K stated, Management skills required for different industries are very different and a general management degree does not develop the student for any particular industry. Today employers are looking for freshers who can be effective from day one instead of spending one to two years learning the ropes of the business before they can start contributing. Also a lot of sectors including retail, logistics, health care, education, construction, etc face a huge dearth of skilled manpower at all levels and therefore there is a strong need for more sector specific specialized management courses for cultivating the required skills.

If you are keen to pursue your MBA in the academic year 2011-13, Future Innoversity is still conducting the admission process for the programs MBA Retail, MBA Supply Chain and BBA Retail Services, Certificate Program in Diploma in Retail and Distance learning program for BBA Retail. The session will commence from July 31, 2011.

Stay tuned to MBAUniverse.com for more news and updates from Future Innoversity.

Being involved in the retail industry is often a job by default. You start off in a casual or part time position when you turn 16, excited by your first job earning money of your own. Then it’s time for University. But how many people don’t make it that far? Sometimes the opportunity isn’t there for gaining a degree. Whatever the reasons, retail has many success’s in people starting as youngsters and working their way up through the ranks to become CEO, a worthy title to claim. The reasons people start off and stay in retail vary from convenience of knowing the role to being able to work part time suiting children once they’ve had families, It also come with opportunities through trainee program, gaining experience and education all the while being paid for it. When the crunch of losing a job you’ve spent years training for comes, it’s often retail, what some consider a lower level of employment, you return to. Yet retail has an unfair reputation as it sustains millions of people world wide and is one of the most reliable forms of income. Hours in retail may come and go like every other industry but if you look at statistics from Wal-Mart, you’ll understand, based on one company alone, how retail has it’s place in society as stable employment.

Maybe you’ve lost your job, lost your nerve as a return to work applicant, or think you haven’t got the skills it takes to apply for an advertised position. I spoke to a friend who is a Regional Manager in a large company and asked him what advice he would give to those trying to return to work……. Suzanne Beck

The first step for anyone returning back into the work force is to realize that they can add great value to the potential employer even that may not have had recent physical working experience but they have through there own experiences organised, managed other areas of there life and generally they come more balanced, opened minded, non re active and adaptive to the current work place because of these experiences.

In preparation the interviewee needs to think of the following.

-Coming prepared and confident and never assume that they are not good enough for the job as you can never judge or know what they may be looking for

-What they can bring to the job they are interviewing for

-What they are looking for from the employment

Do research on the company by internet but more important were possible in person. (Nothing better than showing you have gone to the workplace)

-Think of the job or role they are going for and bring examples from there experience that can translate. For example a role of the job may be giving instructions to a staff member and translate that to something you have done in your personal life with either kids, community groups or even an event you may have held at home.

At the interview

-Personal presentation is very important but your body signals, attitude and energy levels tell an interviewer more.

-Keep on track and try an answer clearly and concise. If you feel you have not answered the question confirm with the interviewer.

– Be honest when unsure of a question

-Always have questions to ask the interviewer relevant to role

-Try and give confidence to the interviewer that you have long term plans within the role and or company

In my experience of interviewing for staff at all levels of the business the main thing I am looking for is how is this person going to fit into my team and what is the real person like I am talking to. It is not always experience. That is were some people make the mistake when they assume to know what I’m looking for and answer how they think I want to hear the answers. Thinking that to get the job you must have had done the job before and must be experienced in the field. Keep in mind building a team takes all personalities, ages and you may have exactly what is needed for the team you are about to join. If I can not see who you are outside the interview it makes the decision on hiring a lot harder.

I know this is easy for me to say, but just let a bit of your personality show and ensure you talk about yourself not just answering the standard questions. Add words like from my experience, I would, I like and this can open up to a more relaxing discussion and can break down some interview barriers.

I find applicants returning back into the workforce from long periods generally have strong work ethics and if given a chance are long term employees and very productive within the team. They are open minded and always receptive to new ideas and direction. They don’t come with a attitude of I know everything. All you need to do is show that in the interview and more likely the job could be yours.

Dea Noc Advice for returning to work Advice for returning to work