Impact of Cross Culture Management on Developing Growth of Retail Organizations.
Impact stands for the after effects of a particular deed or a thing. Cross culture refers to the interaction between peoples from different background, countries or religion in the business field. Management of all these things without creating any mess and by avoiding all type of clash is termed as cross culture management.
It is the management which is necessary in this modern world. As the dependency on foreign goods are increasing day by day. In such a scenario this management plays a vital role. Not only managing it is also providing a backbone to the retail outlets. Retail marketing is a process of buying and selling of goods and services. Retail outlets refer to these shops or showrooms that are opened to cut the bulk. In other words, it is place accessed by all the individuals needing a few goods. By offering services at competitive and affordable prices. This sector is contributing a lot of countries growth. As they are diverse and other types of outlets with the variety of goods.
Cross management includes lots of risk factor. There is no fix availability of sale of material from foreign countries. Due to which the wholesalers do not take the risk to buy the goods in vast quantity. Retailers can bear the risk of such things as the material they buy less in quantity as compared to the wholesaler. Retailers can buy any number of items from any source. The retail outlets are the best place to find goods from different people, different cities, and countries. They can manage up to maintain a stock of goods in small quantity.
Cross-cultural management is helping these outlets to grow even more. This cross-culture is providing the customers with the range and has presented with the great idea. It is also enhancing consumer sovereignty. No doubt the earlier techniques were also good, but they have various drawbacks which are being covered up by this technique. Marketing of a good is also a necessary factor for the consumer. As no retail or wholesale outlet can sell a material or a useful if a user is not aware of it.
In today's modern era the people or the customers are well educated they know their rights and duties. They know how to deal with any critical situation. The new generation is more advanced than the thinking of the old generation. The way of thinking and working is far better than their elders or ancestors. Cross culture management has helped them in various ways.
It has given the market a new form. Where a consumer can select what he/she is willing to buy. Also, there are an infinite number of choices to pick. It is an interesting way to gather more. There are many benefits of cross culture management, but it has some drawbacks too. It is beneficial in selling the products or availing them at the low prices. But at the same time, it increases the level of competition. As everyone has a competitor with them to compete. All goods have their alternatives available in the market. Alternatives and other sources play a significant role in deciding the price of a commodity. All these factors are termed as a market force. The economy is controlled by its consumers only.
With the introduction of foreign goods in all the market, the competition has reached to a higher level. The new products are compatible, cheap and attractive as compare to normal good. They are machine made products, having exceptional quality with great creativity. But this creativity is creating a situation of loss for many. The people in the economy are trying their best to stay, but unfortunately many local vendors have to shut their work.
The vendors who are manufacturing their goods with the manual process by making products which need more labor work are forced to shut their job due to the competition. There are much more examples present in the past. That shows how the introductions of foreign goods have affected the local vendor of the country. It is the unusual and different way of working but has changed the life of many in known or unknown ways.
In the end, it would not be wrong to conclude that cross culture management has a very practical impact on the marketing, growth or development of the retail outlets. Every aspect has some benefits and some drawbacks. But yet cross culture management has provided support to all those who were always present in the market, but are always covered by the wholesalers. It is an excellent opportunity to grow, to reach the heights. Retailers have a benefit to enjoy.