Crafting Your Future Professional Practice and Research

Crafting Your future
practice and Research

Contents
Contents......................................................................................................................................................2
TASK 1- Research Essay.............................................................................................................................3
Presenting brief background and context of the industry.........................................................................3
Critically analysing retail industry’s competitive environment, changes and trends................................4
Critically evaluting skillset required in the retail industries.....................................................................5
Describing creative and ethical leadership skills required in retail business............................................6
TASK 2- Self reflection...............................................................................................................................7
Analysis of your journey.........................................................................................................................7
Action......................................................................................................................................................8
TASK 3- Personal development plan...........................................................................................................9
Personal analysis.....................................................................................................................................9
Setting goals..........................................................................................................................................10
Personal Objectives...............................................................................................................................12
REFERENCES..........................................................................................................................................14

TASK 1- Research Essay
Presenting brief background and context of the industry
Retail industries in current era are most famous as most of the people are interested in
consuming various goods and services that are unique and innovative. Also, retail industry
comprises of departmental stores, electrical stores, grocery stores and much more. Furthermore,
such type of industry is highly competitive, fast-paced industry that is vital to success and growth
of the economy. Also, retail industry is growing at higher rate due to the fact that most of the
businesses now are selling the goods online Thus, people are now able to purchase variety of
goods sitting at home in just a click and in most convenient manner. Also, through providing
seamless experience companies are able to remain competitive and sustain in the market for
longer time period (Pantano and Vannucci, 2019). Moreover, retail industries are focused on
ensuring the quality of products so that more market share might be gathered and efficiency of
the firm might be maintained for longer duration. Furthermore, the retail industries are
developing policies that would allow them to develop the best product image so that higher level
of brand awareness might be created in the target market and good might be sold to
geographically vast areas.
Furthermore, retailing has allowed people to have the best lifestyle by consuming good form
various regions. Also, the retail industries are the biggest contributor in the GDP of any economy
as it is driving force that encourages sustained growth in the country in various situations and
hard times. Further, government also supports such type of industries as it is helpful in providing
maximum employment that is needed for workforce that is living in different parts of the world.
Also, retail industry is one that is important area for the subject of research as all various other
functions such as marketing and the management falls into such type of industries that allows the
researcher to know about various concepts and elements in detail. Also, the major role that
retailer in such industries does is collecting the required information from the customers and
communicating the same to the manufacturer so that best of services and products might be
offered in the future within short period (El Sayad, 2022). Also, it creates utilities and value of
services so that there is regular production and consumption of goods in the market. Retail
industries are now focused on not only providing variety of goods but are also actively involved
in creating value for money so that maximum customers' satisfaction might be provided and

retail expenses might be minimized. Also, the retail market is expanding in the growing number
of people and hence small retailer’s in UK market are constantly entering into the market so that
more people are able to get the variety of goods in he the lowest reason le
Critically analyzing retail industry’s competitive environment, changes and trends
According to Cormorant and Etwall. (2018) In retail industry there are various competitors
that compete with each other through using various marketing strategies and pricing methods so
that greater revenues might be generated. Also, for retail industries it is important to follow
various regulations in UK so that there is successful operation of the business. However,
Dargaville and Etwall. (2021) argued that high level of competitive environment in retail
industry would only result in decrease in the productivity and quality of products in the market
which in turn would decrease the customer market for small retail business. Furthermore, Dlalisa
and Provender, (2020) stated that retail market have been changed in the recent times as it can be
seen that more companies are focused on selling the products more in rural areas so that largest
market share might be covered. Although Earth and et al., (2018) critically argued that
implementing such techniques are good for the small retail industries in short run but might not
work well if the market is not analyzed properly in terms of the changing customer demands,
trends, cultural beliefs towards consumption of certain goods and services