Elements and Performance Criteria
- Control costs.
- Implement cost reduction measures according to store policy and procedures.
- Assess and interpret information on costs and resource allocation.
- Actively encourage team members to control costs in their areas of responsibility.
- Promptly implement recommendations for improving cost reduction or communicate to relevant personnel.
- Control budget.
- Monitor and maintain expenditure within budget targets according to store policy.
- Compare actual income and expenditure to budget targets at regular intervals according to store policy.
- Monitor, analyse and compare gross profit and loss figures by department or section and store, with budget targets.
- Monitor and analyse net profit figures, including floor space profitability according to budget targets.
- Monitor and analyse stock turnover figures according to budget targets.
- Promptly inform relevant personnel, where potential occurs for budget under or overspend.
- Take prompt corrective action where significant deviations from budget occur.
- Negotiate necessary changes or allocations to agreed budget in advance of requirement.
- Ensure modifications to existing budgets are authorised according to store policy.
- Propose expenditure.
- Ensure estimates of costs and benefits are supported by valid, relevant information.
- Ensure final recommendations are supported by realistic alternatives and contain accurate, clear proposals.
- Ensure recommendations clearly indicate net benefits over designated timeframe and related changes in operations.
- Clarify contentious issues by further explanation.
- Compare estimates to actual costs and benefits to improve future proposals.
- Maintain store accounting systems.
- Manage and maintain store policy and procedures in regard to record-keeping systems.
- Monitor and maintain store systems for recording sales figures, revenue and expenditure.
- Monitor and maintain systems for recording and retrieving financial, personnel and payroll information as required by store policy.
- Prepare store sales budgets.
- Maintain store policy and procedures in regard to preparation of budget or target figures.
- Compare, analyse, document and report budget and actual sales revenue and expenditure figures according to budget targets and store policy.
- Maintain accurate records on past sales budgets or targets according to store policy.
- Present proposed budgets or targets accurately and concisely.
- Justify variations to proposed targets and report according to store policy.
- Negotiate budgets.
- Conduct budget negotiations within a set timeframe and in a manner likely to promote good relationships.
- Ensure budget negotiations reflect the overall store policies and objectives relevant to the manager's area of responsibility.
- Seek clarification, where areas of uncertainty or disagreement occur.
- Promptly inform all relevant personnel of budget decisions.
- Present proposals clearly, concisely, in an appropriate form, and emphasising benefits to store operation.