BENGIL, Ranilo Jay G. June 26, 2015MRKM 7 H

SYNTHESIS ON CHAPTER 1: PERSPECTIVE ON RETAILING

This chapter has shown some light for me to a new career opportunity in retailing. I’ve had some ideas and insights before about retailing and how things work because my family had been in retailing and wholesaling. But I never considered retailing as a lifetime career; it was merely something that my mother does for a living because she is too ‘good’ to be employed. I never realized the advantages on retailing and how it could be a good path to pursue.

The part “Common Questions about a Retailing Career” helped me most in this chapter as it gave a lot of information about pursuing this as a career. As to salary and compensation, I believe that in the Philippines, as long as you have the right entrepreneurial skills and passion for business, you can earn as much as you can possibly could. The same can be applied to career progression. Geographic mobility wouldn’t be a hassle for me. And, I wouldn’t be bothered with societal perspective as long as I am happy with what I am doing, I’m contributing to the common good, and as long as I am very well compensated for my hard work.

I also learned a lot on the part about the “Prerequisites for Success”. These qualities: hard work, analytical skills, creativity, decisiveness, flexibility, initiative, leadership, organization, risk taking, stress tolerance, perseverance, and enthusiasm, all these can be used at any other career paths or in life in general as well. Currently, I possess most of the qualities listed; yet, I still have to work more on developing them. I also need to learn/gain some characteristics like decisiveness, flexibility, and stress tolerance. I don’t have these three traits right now. These are my weak points and I need to work on them as soon as I can.

I am also intrigued with the rise of e-tailing. I myself patronize online buying when it comes to gadgets, e-books, games and some clothes and apparels. E-tailing had been very helpful as well on booking cheap flights and hotel accommodations when travelling. This new industry provides real convenience to both the customers and suppliers alike. I am filled with ideas and possible ways to take advantage of the opportunity that the internet provides. Also, I believe that because of E-tailing, carrier or delivery companies such as LBC, 2Go, and FEDEX (international), and money transfer institutions such as LBC again, Lhuiller, Wester Union and the likes have benefited. I believe that online banking was also a result of increasing demand on e-tailing.

Retailing plays an important role in the whole business process. Values that firms create for its customers will never be realized without the final steps of actually handing these values to the hands of the consumers. Retailing will never be out. Retailing is good way to go.