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Written Assessment Choose a renowned failed project. Ascertain that this is a project failure not the failure of a business. Describe the selected project and analyse the losses incurred by the...

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Written Assessment Choose a renowned failed project. Ascertain that this is a project failure not the failure of a business. Describe the selected project and analyse the losses incurred by the project. Examine the concrete reasons for the selected project’s failure and propose alternative solutions / recommendations which are underpinned by supporting evidence. Students will be expected to utilise project management theories throughout their assignment and include diagrams, tables, charts and graphs to illustrate their answers. Please note: This assignment should be approximately 2,500 words in length. Instructions Discuss briefly about the company- follow with steps below
Answered Same Day Jul 14, 2021 MCR007 B

Solution

Somudranil answered on Jul 16 2021
135 Votes
TARGET’S FAILURE ENTRY INTO CANADA
Table of Contents
Introduction    3
History of the Company    3
The way Project was Implemented    4
Project Outlook    4
Work Breakdown Structure    5
Money Invested    5
The project    6
Reasons of the change    6
Recommendations for the failure    7
Conclusion    8
References    9
Appendices    10
Appendix I: WBS Structure    10
Appendix II: Gantt chart:    11
Introduction
Target Corporation has strived to exist as one of the most popularly recognizable
and which has strengthened its organizational base for a considerably longer time till now. However, in the year 2010 the company decidedly became firm on a decision for expanding internationally. Since there were retailers who were similar such as Kmart and Walmart that provided a tougher competition to the company. Therefore, it aimed on cantering the value chain on discount retailers. This assignment will delve deeply into conceiving the structural framework behind this outlook and why this project failed and adopt appropriate recommendations for the same in the Canadian market.
History of the Company
Target Corporation had its inception in the year 1902 in United States of America and turned out to be one the significant contribution in the retail industry. Over the course of history, the company has been instrumental in weaving the advertising pertaining to the cultural and the emotional fa
ic. Target Corporation as a company turned out to be one of the most ubiquitous providers of retailer services with its usage of enthralling logos in the global sphere. As opined by Freeman (2016) It is not until the year 1980s that the organization has strived to have had a successive existence and therefore is considered to be safe for assuming that the American consumer have been instrumental in gaining a good grasp pertaining to the original product. The company have strived for so long because of the kind of place it has introduced its stores over the years such as Rouseville, Minnesota, so on and so forth.
In the year 2012, the company decided to expand its stores where almost of 51% of the shoppers thriving in Canada happened to be aware of the retail outlet that Target Corporation was going to establish in Canada. It was solely in order to strengthen the customer base and aim for the expansion of the expansion of the company. The retailers were excited when they realized that almost four in five pertaining to 82% had been instrumental in expressing their interest in consideration of their visit to different locations in Canada. The motivation that lurked during that time in the retail industry led the company to come forth with a decision. It was solely due to its sterling reputation and which also had the
and equity that led them to provide a head start across the border.
The way Project was Implemented
Target Corporation aimed in getting a larger market share in the retail market of Canada. Therefore, the company with the dream of making $7 billion in the first year they opened stores up to 124 in one single year. The company made effective usage of outselling its products with regards to the free choice channels. These channels included the grocery stores, the super markets earlier in the year 2012. As observed by Bergshoeff et al., (2018), it went on unabatedly in closing the share pertaining to the market gap in relation to the leader. This led to a fall in the share from 24.3% down to a state of 2.4% that started from 2013 till 2015. The Research and Development of Target Corporation therefore went on to develop its stores for that they believed will trample down its competition concerning the existing company in relation to the operations in the markets. In addition to this it was believed that the manufacturing process will tend in adding up almost a $50 million per annum contributing to the increase in the bottom line. Since Target Corporation had been instrumental in maintenance of the market share concerning the process of distribution as well as the relationships with several retailers (Jain, 2016). These retail chains were inclusive like the Weston Group, as well as it had linkage with Wal-Mart Stores. The distribution channel is relatively bigger for gaining prominence into the field.
Project Outlook
Since the company had wanted to compete with one of its largest rivals Wal-Mart therefore they went on with an innovative approach for expansion. So it went to work hard on the advertisement of the products. Firstly, this philosophy sheds light on how it is easier on making direct comparisons concerning the matters of a single product. In addition to this there exists another reason which was conceived after the testing was conducted, right before the launch. As observed by Bhat (2017) that showed how the expansion happened to be prefe
ed in relation to the existing channels with regards to a similar percentage that has been reported by the demands of the consumers. It suggested that other retail outlets were observed to be the ones having considerably lower market share. Therefore, the company realized that if they should go on expansion of their language in Quebec as well, then their existence will be surely ascertained for the longer run in the face of larger and better competitions.
Throughout the process while conducting its market research the company had been instrumental in focusing more on their physical attributes more than the symbolic facets. However, the company has failed in realizing that many customers have failed un identifying themselves in relation to the Target Corporation. Since there had been various studies which have shown that customers go for the stores in which they are able to identify it with something. In addition to this, the process of identification is closely related with the process of the facets that involves instilling the notion in the psyche of the customers. However, the company has failed to gain an understanding about the psychological resistance meted out by the customers when they had been approached with this stores for appealing customers of several descent. This is most relevant in the case of the customers of the...
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