Lecturer Managing Modern Retail Businesses in The Digital Age with The POSDCoRB Concept

Abstract

Modern digital-era retail business management with the POSDCoRB concept is emerging due to technological advancements, evolving consumer behaviors, and market changes. POSDCoRB, an acronym for Planning, Organizing, Staffing, Directing, Coordinating, Reporting, and Budgeting, serves as a comprehensive framework for efficient retail business management. Leveraging technology in the digital age, this approach becomes a strategic tool for planning, organizing suitable organizational structures, enhancing workforce efficiency, facilitating convenient operations, and effectively leading as well as coordinating activities. It involves multi-channel coordination, data-driven reporting, efficient budget allocation, and effective progress tracking systems. Entrepreneurs in modern retail businesses can adapt the POSDCoRB framework to effectively manage their operations in the digital era, aiming for sustainable success.