Founded in 1991, ITM Business School was amongst the first private, non-aided business schools in India. Ranked among the top 50 business schools in India, ITM offers a specialized Retail program. STOrai highlights retail innovations in learning.
The PGDM iConnect in Retail Management & Marketing is the result of a constant dialogue with industry. Designed in collaboration with industry professionals the iConnect Program in Retail Management & Marketing has evolved with changing times. It is aimed at developing, multi-skilled managerial talent by focusing on retail, services management & marketing.
Course curriculum focuses on providing students with an understanding of the day to day operating realities through business simulation, bazaars, on-campus stores and industry interaction events.
1. Retail Lab: Store simulations: Teams of students were allotted a specific format – Convenience, Apparel, Cafe, Shoe and Books. Students simulated the format allotted to them in the retail lab and were evaluated across various parameters by a panel of alumni and judges. Each store simulation was judged on layout, visual merchandising, vendor relations, human resources management, category management and marketing communications. Students were required to undertake field visits, interview store staff and then highlight insights from these field visits during their simulation.
Master Class- 2013-15
Experts from the retail industry visit the campus and deliver half day workshops on the area of retail Excellence to the students. The Master Class Series was inaugurated by Mr.B.S. Nagesh, Vice Chairman, Shoppers Stop – he shared his journey in Shoppers Stop from the store’s inception to date. He also shared his mantras for success- “Never say no to work” and “If you want to grow, make yourself redundant by growing your people”
The second session of Master Class was conducted by Mr. Jamshed S. Daboo CEO Trent Hypermarket Ltd . He talked about increasing excellence through enhanced productivity and store profitability
Diwali Bazaar
Every year before the Diwali vacation, students market special products from their home state, obtain orders from staff, students and the neighbourhood community. During their vacation, they purchase and deliver to customers on their return – This bazaar provides students with an understanding of trading, managing finances and customer / buyer psychology.
Bar Code.
Bar code is a 2 day inter-collegiate cultural fete organized by ITM. The event features panel discussions by retailers and offers students the opportunity to interact with industry and assess other business schools.
Retail Meridian
Retail Meridian is an annual, day long event organized by ITM’s Retail forum. The event aims “To create a hub where everyone can learn, apply and enhance their knowledge in all aspects of Retail Management”. The Main Aim of the Forum is to connect, communicate and collaborate with the Industry experts. The event was themed on “Luxury and the Indian connect” and included presentations by Mr. Jaideep Sippy, Founder and CEO Style Kitchen, Ms. Lipi Lal, Celebrity Consulta
nt and Trainer in Luxury skin care, Ms. Rasna Behl, Owner, The Coordinator (which is a image consulting company).
In addition to various events, students run stores on-campus and on-line.
Retail, in both India and Australia, has seen increasing globalised competition, due to increased multinational brand presence and a move to omni channel retailing. These changes create a demand, in India particularly, for internationally relevant retail skills.
| The unprecedented growth in India, in the last decade is also challenging traditional views of skill transfer and giving birth to some creative talent development approaches. |
RAI and its learning partner Great India Business School have collaborated with First Impressions Resources – the Australian Retail College and the Australian Government’s Outward Mobility program – to design a ten day Immersion Program which provided six Australian students with the opportunity to spend time in India meeting retailers, working in retail and observing front end operations.
The schedule included meetings with Retail Heads of HR, opportunities to work with their Indian counterparts on the shop floor and discussions with unemployed youth being trained to enter the sector.
Welcoming the group, Kumar Rajagopalan CEO of RAI said “India’s consumer market has experienced unprecedented growth in the last decade. The total size of the retail Industry is around US$500 Billion and is expected to grow at a CAGR of 12%. With a land of inhabitants speaking around 2000 languages, highly populous cities and a globally exposed new generation, the country offers both huge opportunity for businesses and a number of large challenges to be met.”
Scott Parker from Best and Less, and one of the participating students commented “Having access to senior management who so generously shared their time and knowledge with us to help understand the Indian retail market has been invaluable and greatly appreciated”.
Cindy Phelan, an Assistant Manager with KFC Brisbane, visited one KFC outlet in Hyderabad where70% of the staff have special needs and said “The highlight was to see that all staff are trained to use sign language and flashing lights to communicate. Systems and tools used are the same as ours, however they have adapted different products to the Indian market and also offer home delivery service”.
Upon their return to Australia the students will collaborate to develop a report summarising their experiences and identifying suggestions for the Australian market to consider.
For information on Global Retail leadership Program or access to the report, please contact First Impressions Resources – the Australian Retail College 1800 at www.edu.au
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