Back in 2001 when Steve Jobs led a group of journalists into the first Apple store, in a Virginia shopping mall, analysts were quick to predict the failure of this move toward what looked like conventional retail. They argued that sales made per square foot by a cheerful but non aggressive sales team would disappoint.
Ron Johnson and Millard Drexler, with their MBAs from Harvard Business School and Boston University, respectively, were champions of the glass staircase, bean bag, and Genius Bar shopping experience that has allowed Apple to more than prove its critics wrong. The company now ranks first among U.S. retailers in terms of sales per unit area, with 2011 revenue of $473,000 for each of those cheerful employees.
According to a survey by PriceWaterhouseCoopers last year, retail is behind 1 in every 4 jobs in the U.S. And Every 5th In India. But for every Apple success story, there are countless other businesses that are being driven to the wall. Best Buy and Barnes & Noble are among the many examples of chain stores that are haemorrhaging market share to online retailers, and the most optimistic five-year forecast is for flat revenues and declining margins.
Some might therefore ask why Amazon.com, the root cause of much of the pain felt in shopping malls across the country, is looking to open its first retail store in Seattle in the coming months. But as Apple has demonstrated, every industry goes through a period of rebirth, and retail is a classic example in the early 21st century.
So perhaps with jobs in retail now offering a wide range of opportunities for graduating MBAs to make their mark, it is no surprise that companies like these, as well as Nike, Target, and Gap, are among the most sought-after employers for U.S. B-school students. And In India Lifestyle, Bose Cooperation, Big Bazaar, Spencer’s, Longines, Westside are emerging destination of MBA Graduates. The new trend that has caught attention is specialized management programs like Retail Mangement. As per GMAC survey shows an increasing demand for specialized programmes and the distance and flexible programmes are becoming more popular.
AIMA has introduced 1 yr course in Retail Management. For details please visit All India Management Association website
Ron Johnson and Millard Drexler, with their MBAs from Harvard Business School and Boston University, respectively, were champions of the glass staircase, bean bag, and Genius Bar shopping experience that has allowed Apple to more than prove its critics wrong. The company now ranks first among U.S. retailers in terms of sales per unit area, with 2011 revenue of $473,000 for each of those cheerful employees.
According to a survey by PriceWaterhouseCoopers last year, retail is behind 1 in every 4 jobs in the U.S. And Every 5th In India. But for every Apple success story, there are countless other businesses that are being driven to the wall. Best Buy and Barnes & Noble are among the many examples of chain stores that are haemorrhaging market share to online retailers, and the most optimistic five-year forecast is for flat revenues and declining margins.
Some might therefore ask why Amazon.com, the root cause of much of the pain felt in shopping malls across the country, is looking to open its first retail store in Seattle in the coming months. But as Apple has demonstrated, every industry goes through a period of rebirth, and retail is a classic example in the early 21st century.
So perhaps with jobs in retail now offering a wide range of opportunities for graduating MBAs to make their mark, it is no surprise that companies like these, as well as Nike, Target, and Gap, are among the most sought-after employers for U.S. B-school students. And In India Lifestyle, Bose Cooperation, Big Bazaar, Spencer’s, Longines, Westside are emerging destination of MBA Graduates. The new trend that has caught attention is specialized management programs like Retail Mangement. As per GMAC survey shows an increasing demand for specialized programmes and the distance and flexible programmes are becoming more popular.
AIMA has introduced 1 yr course in Retail Management. For details please visit All India Management Association website