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Table of Contents
The overall approach to planning projects originally initiates planning in terms of analyzing and evaluating the project tasks that are important to complete the project on time and budget. However, in order to achieve such goals, it is essential to focus on the project coordination with respect to all the parties engaged in the project integration. It also includes a great number of project systems implementation that should meet the objectives of the companies. Therefore, it makes a great sense to take advantage of the project management instruments in order to organize the project structure and make sure that everything goes as expected (Kleiman, 2011).
The other aspect of concern is the project process plan that should be investigated in detail for the purpose of controlling the project execution at all the project phases. At the same time, it is important to acknowledge that project managers should pay a special attention to the need to reduce any possible conflicts with the aim of minimizing their existence as a whole. Consequently, in order to meet all the requirements of the project, it is essential to achieve mutual understanding between all the project members. Besides, the idea is to put all the team members in the position to work in the multidisciplinary environment. As a result, such projects will have the most chances for success (Project Management, 2010).
The given research focuses on the project management in terms of a real project planning to establish a Wall-Mart store in Dubai. It also considers all the business concepts, especially the marketing strategy that is positioned as the project plan implementation. It includes all the concepts that are required to develop the best possible project planning case scenario, which is based on the true data from the Wal-Mart Corporation. Overall, the project planning for the establishment of the Wal-Mart store in Dubai will also be based on all the project planning phases such as “phase management, planning, control, team management, communication, procurement and integration.” The coordination of the project execution will be established on the project system integration plan in accordance with the project structure. It will also address the ways to avoid the project failure by means of the explicit control of the Wal-Mart Store Establishment Project (PMI, 2013).
It is important to acknowledge that the international project strategy implementation of Wal-Mart is to address the implications of the target customers, including the broadening of locations by means of the best executive leadership practices. It also refers to the heritage initiatives, hunger and nutrition, charity, and overall economic empowerment of women. As a result, it leads to environmental sustainability in the target market and the overall appreciation of the target community that define the further growth opportunities of the company in other international markets (Leavy & McKiernan 2009).
Wal-Mart focuses on developing innovative solutions in order to create a personalized experience for each customer in terms of the global e-commerce. This is accomplished through social media and mobile personalization that seek to provide target customers with both fulfilment and assortment. The areas of focus for Wal-Mart are the international markets of South Africa, Argentina, Brazil, Canada, Central America, Chile, China, India, Japan, Mexico, and the United Kingdom. The leadership of the company in these target markets could be explained with the explicit application of the best leadership practices that seek constant improvements in the executive management operations, interactions between the board of directors and community members (Strickland, Thompson, Peteraf & Gamble 2013).
The core implications of the international project strategy implementation is the focus of the business on the development of the most demanded target market segments, including the Wal-Mart stores in the United States and 27 other countries in the international market, Sam’s Club warehouse membership, and global e-commerce solutions. The overall idea of the strategic implementations for customers is to save money and live better. Everything is managed with the use of principles of ethics and integrity due to which Wal-Mart achieved its leading position in the target market (Levinson 2010).
Overall, the international project planning strategy of Wal-Mart stores is to improve access to the products that it sells. The idea is not only to focus on online and in-store sales but redefine the ability to sell merchandise by combining both retailing options. In this case, one of the options of concern is the location of the stores. It should be placed in the area convenient for target customers in the penetrated markets. Therefore, in order to take advantage of the strategic benefits, there is a need to create a strong relationship between Wal-Mart stores and target customers. It could be managed by improving their lives with high-quality products offered at reasonable prices (Light, Kiddon, Till, Heckler, Mathews, Hall, & Wacker 2012).
Such an approach to the international project planning strategy saves both time and money and creates the demand associated with the retailing choices of target customers. In this way, Wal-Mart stores are able to meet the expectations of target customers and reinforce the message of their intent to improve customers’ lives. It is also important to acknowledge that such a strategic approach only works when there is trust, integrity, and value that Wal-Mart stores offer to the target market. As a result, it goes beyond the compliance to the stakeholders and regular customers. Since the strategic implications for the global expansion of the company continue, it is more important for the greater sustainability of Wal-Mart stores and its community (Sloman & Hinde 2007).
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The other important implication of growth is the speed at which the expectations of target customers change, taking into consideration the application of the best leadership practices. The next phase of the international project planning strategy is the application of the so-called enterprise-wide approach. It refers to the use of the Internet, modern technologies, and mobile solutions in order to present target customers with the ability to shop at Wal-Mart. The idea is to improve the quality of products by adding more value to all the available offers. It also requires discipline to mix the capital and invest in the growth opportunities in the penetrated market, especially in e-commerce (Richey & Ponte 2011).
The purpose is to improve the performance of the company when entering new markets in all its segments. The combination of the merchant skills, pricing policies, high level of services, and high quality of products is the major key to achieve success in the global market sales. In addition, it makes sense to think creatively as in the example with Sam’s Club, which has made a great contribution to improve the business performance and its position in the target industry. At the same time, the use of technologies allows to create a network and a community in one place due to the constantly expanding assortment of goods that are highly demanded by target customers (Larry Light Arcature LLC & Joan Kiddon Arcature LLC 2009).
The next aspect of concern is the investment initiatives, especially in e-commerce, and the overall growth of the international square footage, which brings astonishing results. For example, Wal-Mart is expected to invest approximately $1.5 billion in 2016 into digital innovations and e-commerce solutions. It will also add around thirty net retail square feet internationally in 2016 as accelerated investments. The capital expenditures will also be improved by over $13 billion by the end of 2015. The capital investment will be approximately $13 billion in 2016, which also includes e-commerce solutions, annual spending, and moderation of the growth for the physical Wal-Mart stores all over the world. Therefore, it is expected to achieve the growth in the net sales of up to $20 billion (Wal-Mart Corporation 2015).
The changes in the world of today offer drastic long-term and short-term opportunities to serve target customers in a great variety of most enthusiastic ways. It is expected to be increased in 2016 by applying the best leadership practices used in the penetrated markets, which also include the assortment of products and services. Therefore, Wal-Mart will increase customer choice with the leading price ranges and quality of its offers in the global market. As a result, it will have a positive impact on the environment of the company in terms of achievement of the expected net sales in the fiscal year, which will be followed by foundation of the priorities of the financial management of the company in 2016 (Wal-Mart Corporation 2015).
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Therefore, the international project planning strategy will be to set new priorities for investment in brand building in the penetrated markets by means of deploying capital for e-commerce solutions and the physical growth of the footage in its stores all over the world. It will also have a positive impact on the improved performance of the company by meeting its targeted metrics of profits. It is expected that the current international project planning strategy will be applied successfully in the next three to five years and will increase the overall growth of the business by up to forty percent. It is expected that the investment initiatives in the capital and operating costs for e-commerce solutions will also produce favourable outcomes for the business by 2018. It could also increase net sales by approximately 5 percent in the next several years. The negative implications of such growth are expected to be minimized with the help of modern technologies that will optimize digital e-commerce solutions (Ryan 2014).
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The experience of growth due to the constantly improved international project planning strategy could be perceived in the context of the United States and other global markets, Sam’s Club, and the updates in e-commerce solutions (Powell 2012). Refer to their details below:
Wal-Mart faces various risks when penetrating a new target market. For this reason, the international project planning strategy of the company is managed to determine the preferences of target customers in different countries by better understanding their needs through the existing demand in the foreign economies. Therefore, by merging with the existing national retailers, Wal-Mart could gain the knowledge of the local markets and take advantage of governmental policies and taxes, which drastically increases its revenues. Overall, the company could have a strong market performance due to the prediction of the customer preferences based on the existing government regulations and local economies as a whole (The Economist & Ellwood 2014).
Therefore, the use of the international project planning strategy is a choice that takes advantage of the core competencies of the company in the global market. It continues to offer products without a strong pressure on their costs. Simultaneously, by acquiring the existing retailers, Wal-Mart better understands cultural differences and can meet the needs of the customers of a specific country. It can also refer to the best leadership practices that are applied in the international project planning strategies. In this case, the customers can live better while paying less for the similar products due to the great distribution and differentiation strategies. It is also enhanced with both cost of logistics and supply chain management as well as with the use of effective inventory project management strategies. As a result, target customers are offered the same products at lower prices while not having a negative impact on the profits of the company. Instead, the use of discounts and global retailers allows Wal-Mart to purchase the goods from different vendors in bulk and at low prices (Tybout & Calder 2010).