Reward System In Retail Sector

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The research paper aims to evaluate the reward system used by organisations within different industrial sectors. In the current business era, it is important for business sectors to implement effective reward systems by means of different theoretical understanding so is to retain their employees and motivate them to increase their work capabilities. The paper intends to highlight a brief overview of retail and manufacturing sector and their working pattern especially in case of reward system and theoretical backgrounds. Moreover, it further evaluates the equity theory of Adams and Operant Conditioning by Skinner in regarding their reward systems. It aims to highlight a brief comparison of reward system in retail and manufacturing sector. Overview…show more content…
Retailers or retail stores are diverse trade or business endeavours whose overall business in conducted by means of retailing or wholesale at stores. Associations offering their items and administrations to purchasers in the event that it is a manufacturer, wholesaler or retailer is doing retailing. It does not have any kind of effect how the product or service are sold by individual, mail, telephone,, online or in a store, the offering of product or administrations specifically to customers includes retailing as their business design. Retailing involves the offer of items or stockpile from a changed territory, for instance, a retail chain, boutique, or by method for web shopping store to purchaser. Retailing may vehemence subordinated administrations, for instance, conveyance of the item to the shoppers. Purchasers may be individuals or associations. Retailer buys item or administration in generous sums from makers or merchant or outsider, either specifically or through a wholesaler, and a short time later offers smaller sums to the end-customer (Corstjens & Lal,…show more content…
Manufacturing sector holds third position among the other working sector in the UK that contribute their part maintaining the overall GDP of the country after retail and service sector individually. It is observed that manufacturing sectors has increases their total income by £140 billion in the year 2009 in regards of gross quality. In addition, it is seen that about 2.6 million people living and working in the UK manufacturing market that is about the twelve per cent of the UK total population as observed in the year 2012 (Oke, 2013). In accordance with the SIC code framework of 2007, UK, there are about hundreds of diverse working sector that are currently working under manufacturing industry, some of them

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