Question

Jual C: What to Share? Sharing financial information and interpreting financial statements involves more than just looking at the net income or net loss for a period. As a manager of a large department in a retail store, identify what information you would share with your team, how you will share it (i.e. when, in what format), how often you will share it, etc. What could be the impact of not sharing this information with your team? Explain your rationale for your decision. Remember - citing assigned course materials is encouraged to demonstrate tie- in to concepts covered, but it is not considered outside research for the purposes of our discussions in graduate courses.

Answer 1

SHARING OF INFORMATION:

As a manager of a large department in a retail store, we must share a few information with you team members. These information should be concerning:

a) The targets of sales and margin to be achieved on the daily basis.

b) The strengths of the products which the store is displaying.

c) The level of competition which the other companies are providing.

d) The break- even level of sales above which the store should made sales daily, quarterly and year-basis.

e) The discount level which could be provided to the customers at the salesman level.

f) The survival ethics of the company from employer and employee’s point of view.

g) The achievements of the store in the past period and the forthcoming expectations.

Every manager must share and refreshes its information to the team members timeto time because the factors of profits and survival are ever-changing and dynamic.

The manager should always ahead to provide relevant information to the team members and do not hesitate to speak to the member because a small information not known to the employee or the salesman could result into a heavy loss. For example, any discount scheme could only be beneficial if all team members are having knowledge of the same.

If the manager keeps the information to himself and do not float the same between his/her team members, then he can lose:

1) The trust of the employees/members.

2) The sales achievements and targets.

3) The profitability and cash flow.

==============================================