PROJECT MANAGEMENT

PROJECT MANAGEMENT

PROJECT MANAGEMENT

Economic Analysis

Shopping centers play an essential part in an economy as it provides high visibility for commercial exchanges and provide a number of jobs directly as well as indirectly in economies of the region. The shopping centers are considered to facilitate the transactions between the demands of the consumers and the production of the industry (SUN, P. (1994). There are basically four kinds of shopping centers:

Regional Malls: These provide general merchandises with the majority being the apparels. The merchandise is considered to provide the consumers with variety and depth. Its main attraction is the combining of anchors, which could be traditional, discount, mass merchant or even stores of fashion departments.

Power Center: this is known to be the center which is dominated by various different anchors with the inclusion of discount stores, ware house clubs, off-price stores, etc. the anchors are said to be unconnected and consists a small amount of specialty tenants.

Lifestyle Center: its features are that it provides an open air configuration and includes 50000 square feet of retail space which is occupied by the upscale chain of national specialty stores. Its role is defined as a multipurpose leisure time destination which includes restaurants, design ambience as well as entertainment. Other facilities include fountains, street furniture, play areas, etc. These centers provide mostly every facility to the residents of the region.

Community Center: they provide varieties in apparel and other soft goods. These include super markets, discount department stores as well as super drugstores. These stores are mostly designed in a straight or even L or U shapes. Community centers include a wide range of formats.

The initial impact of the shopping center is noticed in its construction and equipment of a new shopping center. The second phase deals with the employment it provides to the residents of the region. Both of these aspects are considered to portray a direct advantage to the economy of the region, which helps its development as well as growth. There are different assumptions under which the operational employment's impact is analyzed (ABELSON, P. W. (1986). The first assumption is that the operational employment of a shopping center affects the current operations of other retailers. This highlights the concept of market saturation. The second assumption highlights the shopping center as non-displacing, which makes it a new generator of revenue for the society or region. This is mostly true, when new stores attract new customers and businesses and increasing the exports. This approach is also said to recapture the market share which has been lost.

These settings are ideally reasonable, considering if the shopping center is being developed in underexposed region or area. This shopping center would also attract customers which do not reside in the region. The goods and services are sold to meet primarily the local demand and it completely replaces the on-going retail activities of the area. Another economic benefit of this shopping center would be that it provides a wide range of varied products to its ...