Name the three strategies to manage your time effectively.
prioritize, focus, oraniize
What is off-the-clock work? (page193)
Hourly employees are not allowed to work without being paid
What should you do if someone spills coffee on the sales floor?
Stand near or over the spill to direct traffic away from it until it can be cleaned up.
The term to describe when a retailer has too much merchandise in stock as a result of inaccurately estimating demand.
excess stock
Which term refers to the difference between revenue and all expenses, including the cost of goods sold and operating costs?
net profit
What term describes the complete listing of all the merchandise a retailer owns?
total inventory
What is the term for intangible things sold by a retailer?
services
Name one type of preventable loss.
shoplifting, employee theft, operational errors, vendor theft
Give an example of an open-ended question.
Can't be answered with yes or no
Name one part of the retail product cycle (Page 37)
selection, allocation, distribution, selling, markdowns
An entity that produces a product is called
manufacturer
How do we calculate gross profit?
revenue -COGS
What term describes distributing merchandise from the manufacturer to a retailer?
allocation
Which term refers to the total amount of money a retailer brings in?
revenue
What is the best way for an employee to prevent shoplifting?
Offering quality customer service and keeping an eye open at all times.
What is cross-selling?
recommending additional products that complement a customer's purchase
Name an example of employee fraud.
intentionally pricing products incorrectly, giving products away to friends and family, chatting with coworkers when there's stocking to be done.
Name a positive attribute.
self control, reliable, good communicator, respect for diversity, integrity, initiative, adapatable
What is the most important thing in every retail transaction?
the customer
Name one step in the customer service process (Page 56)
greet, listen, understand, respond, deliver