ARTICLE DESCRIPTION: A very rich man was dismayed by the fact that his family spent all his hard earned cash in expensive shops. He begrudged the profit margin being made by the retailers so gave up his manufacturing company and set up his own exclusive shops for his family. As his shops were so expensive only his family could afford to shop there. These shops made lots of profit on the goods they bought and the businessman was very pleased.

MORE INFO: A Shopkeeper's Tale A very rich man was dismayed by the fact that his family spent all his hard earned cash in expensive shops. He begrudged the profit margin being made by the retailers so gave up his manufacturing company and set up his own exclusive shops for his family. As his shops were so expensive only his family could afford to shop there. These shops made lots of profit on the goods they bought and the businessman was very pleased. In a few years the businessman ran out of money to buy new stock and his business was on the verge of being bankrupt! To maintain his status as a multi-millionaire he changed his pounds into Turkish Liras. In the past year UK retail sales rose by some 6% while manufacturing fell by 5.4%. In the short term churning money through the system may help people feel well off, but in the end someone has to pay for the goods.

PUBLISHER: Institute of Operations Management

Page number: 7 Word count: 620

Vol 28 - No 03 - April 2002

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