Key terms and definitions
Components- A part of a larger spectrum within the business
Strategy- the plan of action designed to achieve a long term goal
Export- Sending goods to another country or sales (Zara being a good example)
Critical path- a sequence of stages put together to complete.
KPI- key performance indicator, Sales targets, Hourly sales, Performance measuring
Sales figures- The amount in which has been sold over a period of time, such as a year, week or month
Staff incentives- Giving the staff benefits in order to motivate them to pick up sales and increase there want to be at work and selling items
Lead by example- Show the attitude need so the staff follow the way you act
Customer priority- Make sure customer comes first, so that they are happy with there in store service
Replenishment- Restocking the shop floor
Recruitment- Hiring people to bring into the work pace that are willing to learn and are moticated