Retail Industry Business Planning
One of the world’s largest property management companies is responsible for the efficient operation of three large retail shopping centres in Perth, Western Australia.
The property manager of these three shopping centres wanted to apply a consistent planning approach across these centres and improve the level of strategic thinking within the retail centre management.
Although there was an existing planning model in place, it delivered mixed results. Therefore the property manager and the centre owners felt the current approach taken needed to be reviewed and replaced with a better model.
- Reviewing the existing planning approach of the three shopping centres
- Developing a consistent planning model across all three centres
- Understanding the external factors impacting the shopping centres.
- Implementing the new planning approach
The JGC Group approach
JGC Group approached the process as follows:
- Facilitated the review of each centre’s strategic direction and intention
- Aligned strategy with the practical operational requirements of each centre
- Applied formal and recognised planning tools to all strategy work ensuring that the final outcome accurately reflects the client requirements
- Conduct an external, environmental scan and analysis of each centre’s service region, demographic, retail offering and skills mix
- Apply standard PEST (political, environmental, social and technological) analysis to establish a benchmark position for each centre
- Facilitated the retail centres’ move from an established but ineffective internal planning process to a contracted external service designed to deliver on outcomes
The management teams at the three centres are using the business plan objectives and targets to measure performance and the new process is now an integral part of the operation of each centre.
The centre owners are pleased with the planning model used, the approach taken by JGC Group and the project outcomes. Because of this they decided to retain JGC Group to conduct the first annual review, evaluation and update of the plans.