CLC Project Selection 2017: The Retail Store ✓ Solved

Clc Project Selection 2017: The Retail Store

The Retail Store is a small community-based company committed to providing convenience, quality, and community-focused retail services. The company’s mission emphasizes offering customers quality products at great prices while contributing positively to each community it serves. Its vision aims to establish itself as a leading retailer measured by fiscal performance and community involvement within small communities. The company tasked a team with creating project proposals aligned with its mission and vision that meet specific “Must” and “Want” objectives, including achieving annual sales of at least $5 million, improving 10 low-income communities, expanding core product offerings by 10%, expanding store size by 10%, and opening a new store out-of-state within five years.

The team evaluated four proposals based on their ability to fulfill these objectives and align with organizational strategies derived from the company’s mission and vision. Each proposal was analyzed for its scope, impact, and strategic fit. After careful consideration, Proposal #4 was selected because of its comprehensive three-part plan that encompasses community involvement, store expansion, and new store location development. This proposal effectively addresses the company’s core objectives, supports growth, and aligns with strategic goals for medium and long-term development.

Proposal #4’s components include community enrichment efforts, improving revenue through store enhancements, and expanding to an out-of-state location. The first part promotes increased community involvement, especially in low-income areas, through donations and local engagement, which enhances brand reputation and customer traffic. The second part involves increasing the store size and product selection within two years, aligning with the company’s growth and product quality principles. The third part aims for the long-term strategic goal of establishing an out-of-state store within five years, supporting the company’s expansion and revenue growth targets. Overall, this proposal aligns with the company’s mission to offer quality, affordable products and its vision of becoming a leading community-focused retailer in small communities.

Paper For Above Instructions

Introduction

Effective project selection is crucial for aligning organizational initiatives with strategic objectives, especially in customer-centric retail businesses like The Retail Store. This paper explores the process undertaken by a team to select a comprehensive project proposal that supports the company’s mission and vision while achieving specific “Must” and “Want” objectives. The chosen proposal exemplifies strategic alignment, community engagement, and sustainable growth, embodying the company’s commitment to community development and business expansion.

Understanding The Retail Store’s Mission and Vision

The company’s mission emphasizes offering convenience, quality, and affordability to customers, alongside contributing positively to communities. Its vision aspires to position itself as a leading retail entity through fiscal success and community advocacy. These guiding principles influence project selection by prioritizing community involvement, product quality, and strategic expansion, ensuring that initiatives contribute to long-term sustainability and local engagement (Larson & Gray, 2014).

Analysis of Project Proposals

The team evaluated four proposals, each with specific scopes, objectives, and strategic implications. The proposals were assessed against “Must” objectives—such as achieving annual sales over $5 million, improving low-income communities, and expanding core product lines—and “Want” objectives like store expansion and out-of-state growth.

Proposal 1 focused on increasing product offerings and expanding into new markets, but lacked explicit community involvement. Proposal 2 emphasized community partnerships and local impacts but did not address product expansion directly. Proposal 3 proposed salon services to increase revenue but diverged from core retail objectives. Proposal 4 integrated community engagement, product expansion, and territorial growth, offering a holistic approach aligned with company strategy.

Selection of Proposal #4

The decision to select Proposal #4 was based on its comprehensive strategy covering short-term, medium-term, and long-term goals. Its components include:

• Community Involvement: Engaging in local low-income areas through donations and partnerships, fostering goodwill and increasing customer foot traffic (Chen et al., 2017).
• Store Expansion and Product Line Enhancement: Increasing store size and product offerings by 10% within two years, aligning with the company’s growth objectives (Larson & Gray, 2014).
• Geographical Expansion: Establishing an out-of-state store within five years to support the strategic objective of territorial growth and revenue enhancement.

This integrated approach addresses all “Must” and “Want” objectives, reinforcing the company's mission of delivering quality, affordable products, and vision of becoming a community-leading retailer, while supporting sustainable growth (Zhang & Xu, 2019).

Implementation Strategies and Expected Outcomes

The community involvement initiative is expected to fortify local relationships, enhance brand visibility, and generate positive community perceptions, which translates into increased customer loyalty and sales (McDonald, 2014). The store expansion and product enhancement plan will directly increase revenue streams, improve competitiveness, and meet the 10% growth target within two years. The final component of opening an out-of-state store addresses long-term growth ambitions, diversifies market presence, and aligns with the strategic vision of leading retail presence in small communities.

Effective implementation requires detailed planning, stakeholder engagement, and performance monitoring. It is essential to allocate resources efficiently, establish clear milestones, and adapt strategies based on market feedback (Kerzner, 2017). The phased approach ensures manageable progress, risk mitigation, and alignment with organizational capacity.

Conclusion

The strategic selection of Proposal #4 exemplifies how aligning project initiatives with organizational mission and vision enhances business development while fostering community engagement. By addressing immediate growth needs and laying a foundation for future expansion, the project supports The Retail Store’s goal of becoming a leading community-focused retailer. The comprehensive planning and integration of community, operational enhancements, and geographic expansion demonstrate a balanced approach to sustainable business success.

References

• Chen, L., Li, X., & Wang, Y. (2017). Community engagement and retail success. Journal of Retailing and Consumer Services, 36, 134-142.
• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. John Wiley & Sons.
• Larson, E. W., & Gray, C. F. (2014). Project Management: The managerial process (6th ed.). McGraw-Hill/Irwin.
• McDonald, M. (2014). Customer engagement in retail: strategies and case studies. Retail Insights, 45(3), 22-29.
• Zhang, Q., & Xu, Y. (2019). Strategic expansion in retail: models and practices. International Journal of Retail & Distribution Management, 47(2), 124-138.