| It has been two years since I entered Southwestern University of Finance and Economics in autumn of 2011.I completed this paper in four months through the theoretical study of two years in combination with the practical experience of commercial management in Wanda Group.This paper mainly contains four aspects:Firstly,an introduction to the commercial real estate.The commercial real estate refers to real estate investments which achieve an appreciation of the real estate and obtain returns through the reasonable operation.It has two types of development modes,of which,one is a joint development mode of the cooperation between the real estate and commercial enterprises;the other is the real estate and the commercial development for the holding company itself.Business modes are divided into sale,rental,combination of sale and rental,packaging of listed REITs and other types.According to the empirical law of "stages of industrial development" by Chenery,the per capita GDP is less than USD 1,200,and the commercial real estate development is in its infancy;while the per capita GDP is more than USD 8,000,and the commercial real estate development comes into a rapid development period.At present,in the first-tier cities in China,the per capita GDP has been more than USD 10,000,and the per capita GDP in some developed second-tier cities is gradually close to USD 8,000.In addition,the development of the domestic economy,the promotion of consumer ability,the improvement of urban rail transits and other conditions accelerate the dramatically expansion of commercial real estate.While developing the commercial real estate,the instabilities can not be avoided.The domestic commercial real estate industry arise mainly in a few major cities,the grade and business development is not balanced,and there is a large number of idle commercial properties and poor operations,etc.due to the uneven developments of urbanization,large differences in the development of market,deepened contradictions between the development and operation,strong impact of e-commerce and other circumstances.Secondly,an overview to Wanda Plaza operation.Wanda Plaza is the first brand of the Chinese commercial real estates.The urban complex is a unique model of the commercial real estate created by Wanda in the world,including large-scale commercial centers,outdoor pedestrian streets,five-star hotels,office buildings,apartments,etc.,and it is an independent shopping circle with dining,culture,entertainment and many other functions.Wanda Plaza adopts a model of order-real estate which takes into account the late business planning in the early stage of architectural planning and design.The business planning of Wanda Plaza adheres to the market-oriented principle,adjusting measures to local conditions.The real market information has an influence on the commercial positioning and judgment of projects for Wanda,and thus affects the project architectural planning and design.Specifically,the commercial positioning of Wanda Plaza is derived:collecting and analyzing data through market research,reaching the project positioning for shopping centers.On this basis,the business planning of investment is put into place,and further refines the layout,category combinations,and finally the specific brand positioning is put into place.The business planning,business layout and category combination of Wanda Plaza are always unique.Chairman Wang Jianlin mentioned the investment secrets of success about Wanda in the annual meeting for commercial real estate industry in China in 2009:firstly,attracting branding enterprises;secondly,investing in the main stores and sub-main stores;thirdly,complementing with a variety of businesses;fourthly,highlighting the industrial of catering.Currently,the four businesses of Wanda Plaza are retail,entertainment,catering and experience.Thirdly,operation management of Wanda Plaza,which is the core of this paper.Wanda Plaza is not only a place that satisfies consumers' requirements of shopping,but also a complex integrating shopping,experience,entertainment,relaxation with commerce.The success of Wanda Plaza is attributed to that the operation manager has clear thoughts on operation and grasps the main points of operation management,wherein the main points are namely the management processes of Wanda Plaza,including four aspects:operation analysis,operation precaution and training,investment adjustment and market promotion.By virtue of advanced information-based system,Wanda Plaza has established a comprehensive operation analysis system.The daily operation management takes the operation analysis as a basic method to identify the development trend of shopping center and abnormal changes,so as to direct such operations as merchant training,brand adjustment and marketing activities.Meanwhile,judge if the Plaza and merchants operate normally via monitoring the operation performance of Plaza and merchants,thereby adopting proper regulations and control methods to minimize the potential loss.The regulation and control methods of Wanda Plaza mainly consist of merchant operation training,investment adjustment and marketing activities.The operation training of Wanda Plaza lasts for 6 months generally.Evaluate the merchant again after 6 months to determine if there is a need to adjust the investment.The investment adjustment of Wanda Plaza consists of expiry adjustment and period adjustment.To ensure the completion of investment adjustment work;on one hand,Wanda Plaza has established a systematic investment adjustment management&controlling process that specifies the scheme formulation,scheme execution and management&controlling,and the scheme assessment&review;on the other hand,Wanda Plaza has been strictly managing and controlling all work and all adjustment nodes relevant to investment adjustment via modular system,capital lease system,etc.Why Wanda Plaza is so successful?Another secret is that Wanda Plaza is excellent in integrating various resources and uniting marketing for market promotion.The marketing pattern that Wanda Plaza advocates is to achieve success after systematizing and integrating all kinds of marketing approaches,means with resources,for a certain period of time and same themes.Comprehensively consider and plan the overall target and stage outcomes at the beginning of carrying out series of marketing activities,with the help of unification to form monthly,quarterly and annual marketing plan based on integration,which aims at controlling the use of all system resources.By the organic combination of various internal and external resources,with mutual help,all stores can share the resources,thereby promoting the total competitiveness of Wanda Plaza,further achieving maximum overall operation profit and implementing stage strategies.Fourthly,case study of Wanda Plaza in Taiyuan Street,Shenyang City.The Wanda Plaza in Taiyuan Street,Shenyang City is an extremely special plaza,with opening of 3 times,wherein the former 2 times ended in failure,while it had won the market position for the third time via comprehensive and in-depth operation management;therefore this paper takes the Wanda Plaza in Taiyuan Street,Shenyang City as case study.When Wanda Plaza in Taiyuan Street,Shenyang City suffered operation problems,Wanda Group paid high attention to it.From March 2010,Ding Benxi,the Group CEO had held 3 site-meetings totally in Taiyuan Street with the 5-month-overall adjustment.Qu Dejun,General Manager of Business Management Company,went to Taiyuan Street on a business trip almost every week in 2010.Through analysis made by leaders and all relevant departments of Wanda Group,it was found that the Wanda Plaza in Taiyuan Street,Shenyang City had suffered 3 problems including crucial competitive environment,faulty overall project design and unreasonable business type planning.Therefore,Wanda Group had radically transformed the Wanda Plaza in Taiyuan Street,Shenyang City.Firstly,re-orientate the market to specify its themes of "Young and Fashion";secondly,transform such facilities as the corridor,signage and park of the Plaza;thirdly,re-plan and re-layout the business type to optimize the brand and promote integration degree of brand and Plaza.By above three transformations,the brand grade and overall efficiency of the Plaza had been significantly promoted.The average daily passenger flow of the transformed Plaza had reached over 60,000 times,with average daily sales of up to RMB 4 million.Through the discussions in this paper,the unique operation mode and operation management ability of Wanda Plaza have been systematically presented from such aspects as project orientation,business types combination,investment adjustment and field management,which is the theory summary and sublimation of practical experience of operation&management;meanwhile,this paper is expected to help and promote the operation administrators of the shopping 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