Higher Certificate in Business Management in Retail Management

Purpose

The purpose of this qualification is to develop employable professionals as well as equipping people employed in the retail environment with an understanding of how retail organisations function, as well as to function effectively in the retail business environment. The curriculum provides the learners the opportunity to complete a range of relevant management modules which will, upon completion, equip them with the necessary management skills and competency to function successfully in a retail organisation.

Rationale

The Higher Certificate in Business Management in Retail Management (HCBM: Retail Management) has been developed for people who need to know how retail organisations function, through a fundamental understanding of key retail management functions. The intended outcome of this qualification is the development of graduates who are equipped with the relevant basic management skills to perform their roles and responsibilities more effectively in a retail business environment.

The Higher Certificate in Business Management in Retail Management assists both individuals who are considering a management career in, or are new in the retail environment, as well as those who have been/are working in a retail business and, would like to progress into general retail management. It also offers career opportunities for graduates by broadening their understanding of retail business administration and management practices, so they are able to function effectively in a retail business environment. Furthermore, given the high demand for retail management skills and knowledge (National Development Plan, Skills Development Plan etc), the HCBM: Retail Management will contribute to addressing this need.

Recognition of Prior Learning (RPL)

Applicants wishing to be admitted to the Higher Certificate in Business Management in Retail Management through RPL must submit a portfolio of evidence which comprises inter-alia, work related experience and training, testimonials mentioning functions performed, work records, videos of practice and performance records, etc. All such evidence would be considered and evaluated according to the Institution's RPL Policy. As per National guidelines, 10% of the intake will comprise RPL applicants.

Entry Requirements

Admissions to this Higher Certificate in Business Management in Retail Management learners should have obtained a

• National Senior Certificate, granting access to Higher Certificate studies.

Or

• Senior Certificate (SC), granting access to Higher Certificate studies.

Or

• National Certificate (Vocational) at NQF Level 4 or an equivalent NQF Level 4 qualification, granting access to Higher Certificate Studies.

Retail Management is a 120 Credit qualification at NQF Level 5 comprising six core modules worth 20 Credits each.

Modules

• Fundamentals of Business Management.
• People Management.
• Customer Service Management.
• Retail Marketing.
• Retail Management.
• Fundamentals of Financial Management.

1. Demonstrate an understanding of the Business Environment and the Basic Economic Systems.
2. Apply effective people management principles in order to lead, manage, motivate and improve the performance of individuals and teams.
3. Know the core functions and principles of sound financial management in the retail sector.
4. Explain the principles of marketing and the importance of the retail marketing mix.
5. Communicate all elements and principles of the Retail Value Chain that enhance business performance accurately.
6. Gather information from various sources in order to understand and apply the principles of Customer Service Management.

Associated Assessment Criteria for Exit Level Outcome 1

• Key business management terminology, concepts and definitions are identified.
• An understanding of the business environment within the retail context id demonstrated.
• Basic economic systems in which retail organisations operate are explained.
• The different forms of enterprise or legal ownership are explored.
• Various management functions are discussed.
• Roles of the different levels of management are examined.
• How and why management style has progressed is discussed.
• Corporate social responsibility is explained.
• The relevance of emotional, spiritual and intellectual intelligences to self and others is understood.

Associated Assessment Criteria for Exit Level Outcome 2

• Human resource management terminology, concepts, and definitions within the retail sector are identified.
• An understanding of human resource management and human resource models is demonstrated.
• The importance of relevant legislation pertaining to human resource management is explained.
• An understanding of key human resource management success and failure factors is demonstrated.
• The processes necessary to manage group dynamics effectively in order to establish a healthy and productive work environment are described.
• Retail organisational, team and individual objectives are aligned.
• An understanding of effective techniques to supervise, delegate and provide feedback to employees is demonstrated.
• The process of conducting effective performance appraisals is understood.
• The key processes and techniques to motivate people and manage conflict effectively is outlined.
• The role that organisational culture and reward systems play in an organisation is examined.

Associated Assessment Criteria for Exit Level Outcome 3

• An understanding of financial management terminology, concepts and principles in a retail context is demonstrated.
• Retail financial planning techniques are understood.
• Valuations and credit management principles and processes are described.
• The process of making sound financial decisions is explained.
• The significance of financial accountability, cost-effectiveness, cost-efficiency and value for money are discussed.
• Specific ratio analysis of financial statements is conducted.
• Sound cash management principles are applied.
• Financial management success and failure factors are described.
• An understanding of the importance of applicable financial legislation is demonstrated.

Associated Assessment Criteria for Exit Level Outcome 4

• Retail marketing terminology, concepts and principles are understood.
• Retail marketing environment is explained.
• Principles of retail consumer buying behaviour are outlined.
• An understanding of retail market segmentation principles is demonstrated.
• The process of making sound financial decisions is explained.
• The elements of a retail marketing strategy are specified.
• The principles of the retail product mix, pricing, distribution and promotion are described.
• The theory and concepts of merchandising are understood.
• Various aspects of merchandise management are discussed.
• Retail marketing success and failure factors are identified.

Associated Assessment Criteria for Exit Level Outcome 5

• An understanding of retail management terminology, concepts and principles is demonstrated
• Different types of retailers in the retail environment are specified.
• Factors affecting store location are identified.
• Fundamentals of retail management within the context of the retail value chain are explained.
• The elements activities of the retail value chain are outlined.
• An understanding of merchandise, financial and sales planning is demonstrated.
• Financial merchandise management is explained.
• Concepts of stock turn, days forward cover, mark downs, and the knock-on effect are defined.
• An understanding of warehousing and distribution within the retail sector is demonstrated.
• Management of processes and people within the retail value chain is outlined.

Associated Assessment Criteria for Exit Level Outcome 6

• An understanding of customer service management terminology, concepts and definitions is demonstrated.
• Attitudes required to serve customers effectively are identified.
• The principles of quality and customer relations management are understood.
• Challenges in implementing quality improvement are identified.
• Effective communication with clients and relevant stakeholders is established.
• The importance of managing stakeholder relationships is understood.
• Sound principles of negotiation with customers in a retail context are applied.
• The quality of retail products and services is monitored.

Integrated Assessment

The objective of integrated assessment in the Higher Certificate in Business Management in Retail Management is to assess whether the learners have acquired the necessary general management skills to effectively manage a Retail Business.

Assignments in the form of Case studies and organisation specific projects, where the different module outcomes are assessed in an integrated manner may be used. The purpose of the assessment is to measure applied competence. In other words, it assesses whether learners are able to integrate the ability to perform important retail managerial functions competently (practical competence), understand the theoretical basis for these actions (foundational competence), and reflect on and make changes to retail managerial practices (reflexive competence).