How do you clearly illustrate the financial outcome of everyday retail store decisions? Many of the USA Red Wing Shoe Store managers, who had been promoted from sales jobs where they excelled at developing relationships and moving product, failed to fully understand how their everyday decisions impact the profitability and financials of their stores.
The solution for Red Wing Shoe University (Shoe U) was to partner with Celemi to develop a customized version of the one-day business finance simulation Celemi Apples & Oranges™, tailored specifically to the needs of their store managers. By giving everyone a strong foundation of financial management concepts, Red Wing Shoes strengthened company themes and helped employees discover linkages for building on financials and other key aspects of the business.
Some of the program concepts were: inventory as money – how products sitting on back shelves equates to cash in pocket, days sales outstanding – why it matters how long it takes to collect cash, employee turnover – how hiring and retaining the right people (and replacing the wrong ones) affects gross profits, and profit and loss statements.
“Celemi Apples & Oranges™ had a method to it, but there was fun along the way. It wasn’t just recieving information. Participants had to engage, learn and play the game. When you do that, you learn as you play. I like that. I like that approach to things.”
— Wes ThiesVice President, North America Sales & Operations