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- QUESTION
Assessment 2 Topic 1
For Assessment 2 you are required to participate in the discussion located under Assessment 2 brief in the Assessment area of Blackboard. Your contributions to the Discussion Forum will be graded as part of your overall report.
In Discussion Topic 1, write 300-400 words about a business, which you have previously worked for, or would like to in the future. Please use the same business as your example in the following Discussion Forum topics. Describe the size of the business (employees, outlets, turnover etc.), the geographical location, the core product (what it is that they are selling) also identifying the industry in which it operates.
Post your contribution by 11:59pm AEST/AEDT Sunday of Module 2.2 (week 4).
Kindly login with these details
https://laureate-au.blackboard.com/webapps/blackboard/execute/launcher?type=Course&id=_88652_1&url=
| Subject | Business | Pages | 3 | Style | APA |
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Answer
Assessment 2: Topic 1
I would like to work for Scentre Group in the future. The Group was founded on Jun 30, 2014 and is based in Sydney (Menear, 2018; Scentre Group, 2020). It has since expanded and by 2018. The Group partly owns and runs holdings in Westfield branded centres for shopping activities in New Zealand and Australia. In 2017, the Group recorded net revenue of $1.87 billion. The net profits rose by $200,000 compared to 2016 financial year. In Mar 2018, Dexus – property management firm, and Scentre presided over the opening of $ 80 million retail re-development in the suburbs of Melbourne, which promised to offer the local community a complete lifestyle and dining experience (Menear, 2018).
Westfield provides living spaces, shopping centres, and dining places. Scentre Group retail real estate assets in New Zealand and Australia that are under management are valued at $56.0 billion. Ownership interests from the shopping centres are valued at $38.2 billion. These include 42 Westfield living centres that have an ability to attract leading global brands. Westfield centres are known to have a strong franchise value (Scentre Group, 2020). As of May 15, 2019 Scentre Group market gap was $14.7 billion, had 2,700 employees, and its sales was $2 billion (Forbes, 2019). Group’s strategy include owning of interests in the high-end quality regional living centres in the market of focus, invest in such markets via re-development opportunities, and provide extra-ordinary retail places. Most of the centres operated by the Group are portfolios that are owned in partnership with major property investment institutions. Westfield living centres are considered as essential resources for promoting the community’s economic and social fabric. In 2019, at least 548 million customer visits to Westfield living centres were reported in New Zealand and Australia (Scentre Group, 2020).
The Group operates through segments such as property and project management and property investments. Property investments include net property income from completed developments and shopping centres as well as other operational expenses (Forbes, 2019). The Group works with the global leading brands luxury and retail brands to create an extraordinary leisure and shopping experience. The Group participates fully in management of every aspect of its portfolio, which include design, building and construction, and development of a given property to retail and leasing solutions. It also participates fully in asset management and marketing, which ensures that Westfield centres meet highest customer satisfactions at all times. Besides, the highest expectations are various retailers are met by the Group (Scentre Group, 2020).
References
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Forbes. (2019, May 15). Scentre Group. https://www.forbes.com/companies/scentre-group/#76d9efd991bf Menear, H. (2018). Top 10 investment companies in Australia and New Zealand. Business Chief. https://anz.businesschief.com/top10/3263/Top-10-investment-companies-in-Australia-and-New-Zealand Scentre Group. (2020). Creating extraordinary places, connecting and enriching communities. https://www.scentregroup.com/home-page
Appendix
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