Emerging implications of online retailing for real estate

2015 ◽  
Vol 17 (3) ◽  
pp. 226-239 ◽  
Author(s):  
Colin Jones ◽  
Nicola Livingstone
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
Central Element ◽  
Leading Edge ◽  
The Internet ◽  
Online Retailing ◽  
Ongoing Research ◽  
Content Type ◽  
Online Sales ◽  
Corporate Real Estate

Purpose – This paper aims to initially explore the effects of online retailing on corporate real estate strategies today, examining current trends and the approaches of leading edge retailers in this evolving marketplace. The UK has the greatest proportion of online sales worldwide. Design/methodology/approach – Context is provided through existing literature, and the methodology considers specific case studies. Information from financial reports, websites and evidence directly from retailers is derived to examine selected sectoral responses (food shopping, fashion retailing and department stores) to online shopping. The research considers the interface between the virtual and physical retail landscapes. Findings – The Internet is undeniably driving change, and large retailers have responded by embracing multi-channel sales strategies in which the adapted physical store remains a central element. Research limitations/implications – The case studies are arguably limited in their market assessment by examining only large retailers, but it is these retailers who occupy much of the real estate space in shopping centres. Data on Internet sales and retail space of individual retailers are not publicly available. This paper offers a qualitative introduction into ongoing research on the evolution of Internet retailing today. Practical implications – For large retailers, a multi-channel corporate sales strategy is enhanced by physical stores that can act as showrooms and collection points and enhance consumer service. Multiple retailers have a competitive advantage in the form of store networks and a recognisable brand that they can exploit to capture the sales opportunities the Internet offers. Originality/value – The paper is the first to collate and analyse corporate real estate strategic responses to online retailing.

scholarly journals Managing the workplace in a globalized world

Facilities ◽  
2014 ◽  
Vol 32 (13/14) ◽  
pp. 744-760 ◽  
Author(s):  
Evelien B. Plijter ◽  
Theo J.M. van der Voordt ◽  
Roberto Rocco
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
National Culture ◽  
Cultural Dimensions ◽  
National Cultures ◽  
Content Type ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose – The purpose of this study is to provide a better insight into the role of national cultures on the management and design of workplaces of multinationals in different countries. Design/methodology/approach – This explorative study is based on an extensive literature review of dimensions of a national culture in connection to corporate real estate management, interviews with ten representatives of multinationals on corporate real estate strategies and workplace characteristics and a multiple case study of two multinational firms with site visits and observations at offices in The Netherlands, Germany and Great Britain. Findings – Whereas all interviewed companies had their real estate portfolio to some extent aligned to the local national culture, none had a strict central policy about this issue. Differences in workplace characteristics were mainly caused by the involvement of local people in workplace design. Using Hofstede’s cultural dimensions, the case studies showed relationships between masculinity of a culture and the expression of status and between uncertainty avoidance and openness to innovation; however, no relationships were found related to differences in power distance and short-/long-term orientation. Research limitations/implications – The case studies were conducted in three European Union countries. Due to practical reasons, most interviewees were Dutch. Additional empirical research including more different national cultures is needed to advance more unequivocal conclusions and to develop a clear set of guidelines for decision-making. Practical implications – The findings stress the importance of finding a balance between aligning facilities to business purposes and meeting the needs of different (groups of) employees in multinational environments. Originality/value – Although much has been written about national culture, not much research is yet available in connection to facilities management and corporate real estate management.

Towards phronetic knowledge for strategic planning in corporate real estate management

2014 ◽  
Vol 16 (3) ◽  
pp. 203-219 ◽  
Author(s):  
Maartje van Reedt Dortland ◽  
Hans Voordijk ◽  
Geert Dewulf
Keyword(s):  
Real Estate ◽  
Real Options ◽  
Case Studies ◽  
Real Option ◽  
Content Type ◽  
The Real ◽  
Corporate Real Estate ◽  
Estate Management ◽  
Real Estate Management ◽  
Corporate Real Estate Management

Purpose – The objective of this paper is to provide insights about the potential of real option thinking for corporate real estate management (CREM) from the owner-user perspective. A promising approach to classifying and evaluating flexibility in real estate is the real options approach. Most literature on real options look from an investor perspective. Design/methodology/approach – First, a review on real option thinking in the real estate and large engineering projects literature is provided using Flyvbjerg’s (2001) typology of knowledge systems. Next, the effects of exercising real options for various stakeholders in CREM is analysed in two case studies. Findings – The literature review shows that little research has been done on conditions and values needed to make real options applicable in the CREM practice of the owner-user of real estate. The case studies show that real options are more valuable to one stakeholder than to another. Practical implications – Based on the knowledge on conditions for and the consequences of exercising real options for various stakeholders, insight can be gained into the applicability of real options to the owner-user of real estate and how real options reasoning fits within this practice. A phronetic type of knowledge is needed that incorporates stakeholders’ interests. Originality/value – Creating phronetic knowledge would allow understanding why and how real options are used, or could be used in the future, and heuristics could be developed. In this way, real estate management should become more resilient to changes.

Disposal strategies in corporate real estate portfolios

2019 ◽  
Vol 21 (2) ◽  
pp. 113-129 ◽  
Author(s):  
Hilde Remøy ◽  
Sander Rovers ◽  
Ilir Nase
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
Banking Sector ◽  
Strong Relationship ◽  
Strategy Execution ◽  
Structured Interviews ◽  
Content Type ◽  
Corporate Real Estate ◽  
Real Estate Management ◽  
Document Review

Purpose The purpose of this paper is to develop an operational framework with guidelines and lessons to improve the current real estate portfolio disposal procedures of freeholds, based on empirical evidence from the banking sector. Design/methodology/approach The empirical research is based on a comparative analysis of four case studies, representing approximately 80 per cent of the Dutch banking sector. The case studies comprise a systematic document review of corporate business and real estate strategies and semi-structured interviews with decision makers who steer the organisation’s corporate real estate (CRE) portfolio composition. Findings This research shows a strong relationship between organisation characteristics, legacy and strategy, disposal drivers and CRE disposal strategies. The weighing of drivers and order of steps in strategy execution strategies largely depend on organisational objectives. Research limitations/implications This paper reports empirical findings from Dutch case studies. To generalise, further research is needed in different legal, financial and economic contexts and in other sectors. This paper suggests a more thorough study of the relationship between space-use efficiency and technological innovation implementation.. Practical implications The framework proposes strategy improvements and a proactive approach to corporate real estate management (CREM) to create value through real estate portfolios. Originality/value This paper provides a thorough analysis of the CREM of the Dutch banking sector and is applicable to CREM in this and other sectors.

scholarly journals Corporate real estate strategies and organizational culture

2018 ◽  
Vol 20 (3) ◽  
pp. 154-176 ◽  
Author(s):  
Ilir Nase ◽  
Monique Arkesteijn
Keyword(s):  
Organizational Culture ◽  
Real Estate ◽  
Principal Component ◽  
Competing Values Framework ◽  
Average Score ◽  
Competing Values ◽  
Content Type ◽  
Strategic Fit ◽  
Corporate Real Estate ◽  
Market Cultures

PurposeThe purpose of this paper is to investigate how strategic corporate real estate (CRE) management varies across different types of organizational culture. Additionally, the authors examine how a set of well-established strategies is categorized by CRE executives and investigate whether there have been any changes in priorities of managers’ rating in importance of these strategies compared to a post-GFC study. Design/methodology/approachA wide-scale survey of CRE managers was undertaken in summer 2016. Two key components of the survey are namely importance scoring of CRE strategies after the framework of Gibler and Lindholm (2012) and organizational culture assessment based on the competing values framework of Cameron and Quinn (2006). Analysis of CRE strategy importance is undertaken based on the average score comparison per each cultural family, and additional features are reported based on the industry sector, firm size and CRE department size. Principal component analysis is used to provide statistical evidence on the grouping of CRE strategies by practitioners. FindingsEmpirical evidence points toward a clear division on the organizational culture dimension that differentiates effectiveness criteria of flexibility and discretion from stability and control. More specifically, clan and adhocracy cultural types prioritize employee-centric CRE strategies, whereas hierarchy and market cultures consider “Reducing real estate cost” as their single most influential strategy. Research limitations/implicationsThe competing values framework has been adapted from the original ipsative scoring process to reflect the fact that only one respondent per firm assesses their organization’s culture. Practical implicationsThe findings of this study are useful to CRE managers striving for maximum strategic fit within their firms as they unveil clear patterns of CRE strategy prioritization among different organizational culture types. Originality/valueTo the authors’ best knowledge, this is the first study that analyzes the inter-relationships among CRE strategies and organizational culture variations. Additionally, the paper provides a categorization of CRE strategies through statistical methods that follow a clear pattern based on the scope of each strategy.

Doing the strategy hard yards

2019 ◽  
Vol 35 (1) ◽  
pp. 19-21
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
The Internet ◽  
Content Type ◽  
Successful Strategy ◽  
Pertinent Information ◽  
High Level ◽  
Practical Implications

Purpose This paper reviews the latest management developments across the globe and pinpoints practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings If you search images of the word “strategy” on the internet, three of the first seven images to appear on Google (other search engines are available) include chess pieces, while two of the top ten hits involve light bulbs. Aside from the obvious conclusions that any strategic discussion should either involve chess grand masters or well-lit rooms, it is clear that most people assume winning games with lots of moves are possible is the key to a successful strategy. But is this a valid analogy, even at a high level? Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Defining a corporate real estate management's (CREM) brand

2014 ◽  
Vol 16 (1) ◽  
pp. 60-76 ◽  
Author(s):  
Abdul Jalil Omar ◽  
Christopher A. Heywood
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Relationship Building ◽  
Content Type ◽  
Study Approach ◽  
Brand Development ◽  
Corporate Real Estate ◽  
Multiple Case ◽  
Business Functions

Purpose – This paper aims to explore how branding theory can be used to understand corporate real estate management's (CREM's) relationships with its customers. Specifically, the perspectives of CREM executives and customers are used to develop a statement of a CREM brand. Design/methodology/approach – A multiple case study approach from four industry sections that consist of telecommunications, logistic, retail, and education from an emerging real estate market (Malaysia) and a mature real estate market (Australia). CREM executives and CREM customers from each case were interviewed to obtain information on CREM within organisations. Findings – The findings indicate that CREM supports the business by managing organisations' strategic real estate resources as its brand. CREM executives focus more on the technicality of real estate functions, while CREM customers expect corporate real estate (CRE) to support their business functions. Research limitations/implications – A CREM brand is important to CREM relationship building with the targeted customers. Successful brand development is able to increase CREM visibility to customers and at the same time gain appreciation of its contributions to the organisations. Originality/value – This is the first study that investigates CREM from a branding perspective. The mechanism for communicating CREM contributions using branding helps to increase acceptance from the customers.

scholarly journals Service operations: what’s next?

2018 ◽  
Vol 29 (1) ◽  
pp. 55-97 ◽  
Author(s):  
Joy M. Field ◽  
Liana Victorino ◽  
Ryan W. Buell ◽  
Michael J. Dixon ◽  
Susan Meyer Goldstein ◽  
...  
Keyword(s):  
Empirical Research ◽  
Delphi Study ◽  
Service Management ◽  
Leading Edge ◽  
Service Operations ◽  
Research Topics ◽  
Ongoing Research ◽  
Content Type ◽  
Research Themes ◽  
Research Questions

Purpose The purpose of this paper is to present exciting and innovative research questions in service operations that are aligned with eight key themes and related topics determined by the Journal of Service Management (JOSM) Service Operations Expert Research Panel. By offering a good number of such research questions, this paper provides a broad range of ideas to spur conceptual and empirical research related to service operations and encourage the continued creation of deep knowledge within the field, as well as collaborative research across disciplines that develops and incorporates insights from service operations. Design/methodology/approach Based on a Delphi study, described in the companion article, “Service Operations: What Have We Learned?,” the panel identified eight key research themes in service operations where leading-edge research is being done or has yet to be done (Victorino et al., 2018). In this paper, three or four topics within each theme are selected and multiple questions for each topic are proposed to guide research efforts. The topics and questions, while wide-ranging, are only representative of the many ongoing research opportunities related to service operations. Findings The field of service operations has many interesting research topics and questions that are largely unexplored. Furthermore, these research areas are not only increasingly integrative across multiple themes within operations but often transcend functional disciplines. This creates opportunities for ever more impactful research with a greater reach throughout the service system and suggests that service researchers, regardless of functional affiliation, can contribute to the ongoing conversation on the role of service operations in value creation. Originality/value Leveraging the collective knowledge of the JOSM Service Operations Expert Research Panel to expand on the research themes generated from the Delphi study, novel questions for future study are put forward. Recognizing that the number of potential research questions is virtually unlimited, summary questions by theme and topic are also provided. These questions represent a synopsis of the individual questions and can serve as a quick reference guide for researchers interested in pursuing new directions in conceptual and empirical research in service operations. This summary also serves as a framework to facilitate the formulation of additional research topics and questions.

Corporate real estate strategies: the Nigerian experience

2015 ◽  
Vol 17 (4) ◽  
pp. 244-259
Author(s):  
Timothy Tunde Oladokun ◽  
Bioye Tajudeen Aluko
Keyword(s):  
Real Estate ◽  
Business Performance ◽  
Stock Exchange ◽  
Primary Data ◽  
Content Type ◽  
The Real Estate ◽  
Corporate Objective ◽  
Corporate Real Estate ◽  
Public Organisations ◽  
Real Estate Management

Purpose – The paper aims to contribute to the empirically scarce literature on corporate real estate management (CREM) strategies by providing meaningful insights on the different strategies likely to contribute to business performance in a developing country like Nigeria. Design/methodology/approach – Primary data collected using questionnaire administered on property managers of the 105 business organisations in the list of registered companies with the Nigerian Stock Exchange were used for the study. The questionnaire elicited information on the real estate holding pattern and the adopted strategies for acquiring and managing real estate assets. The data collected were analysed using percentages, mean and proportion method. Findings – The study established that 41 per cent of the organisations were public organisations. Others were private companies (31 per cent), government departments (18 per cent) and multi-nationals (10 per cent). The result indicated that 31.8 per cent had no CREM strategy. Strategies used were: cost reduction (18.75 per cent), facilitate production (20.17 per cent), flexibility (15.5 per cent), promote human resource objectives (10.86 per cent), promote the marketing message (4.33 per cent), promote sales and selling delivery (18.67 per cent), facilitate managerial process and knowledge (7.5 per cent) and capture real estate value (6.5 per cent). The study concluded that CREM is a useful tool that the organisations can make effective use of to improve their performance. Research limitations/implications – Limiting the scope of the study to the perception of the respondents could reflect an element of bias and might pose a great challenge to the representativeness. Also, the use of closed question questionnaire may limit the validity of the results. Practical implications – The study has major implications on business performance in Nigeria. There is the need for corporations to reappraise their real estate strategy and realign it with their corporate objective. There is also the need for Nigerian Institution of Estate Surveyors and Valuers to train its members for contemporary business requirements. Originality/value – The paper is a useful guide to corporate real estate managers in developing countries towards using real estate strategies to minimize the overall cost of their companies.

What goes up and what goes down

2017 ◽  
Vol 33 (8) ◽  
pp. 7-9
Keyword(s):  
Real Estate ◽  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
General Motors ◽  
Content Type ◽  
The Usa ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings For many young managers and strategists, few of them will realize just how mighty Japan and its firms were in the 1990s. As the world’s second biggest economy, it saw many of its firms lead their industries in both size and innovation – Toyota and Sony being just two examples – so that they genuinely threatened to overtake the USA and its preeminence. Indeed, when Toyota finally overtook General Motors as the world’s biggest car manufacturer, the effect was felt through Detroit and beyond. Further stories about the similar rise in the price of Tokyo real estate became legendary as well – for example that the well-heeled district of Ginza in central Tokyo was worth more than the whole of California. Practical Implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Corporate real estate, capital structure and value creation

2017 ◽  
Vol 10 (3) ◽  
pp. 384-404 ◽  
Author(s):  
Maria-Teresa Bosch-Badia ◽  
Joan Montllor-Serrats ◽  
Anna-Maria Panosa-Gubau ◽  
Maria-Antonia Tarrazon-Rodon
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Structure Theory ◽  
Trade Off ◽  
Content Type ◽  
Default Option ◽  
Bankruptcy Costs ◽  
Corporate Real Estate ◽  
Tax Savings ◽  
The Impact

Purpose This paper aims to analyse the corporate rent-vs-buy decision on real estate through the trade-off theory and default option in the framework of a corporation that aims to optimise its capital structure. Design/methodology/approach The methodological core of this paper comprises the trade-off theory that approaches the optimal capital structure by counterbalancing debt tax savings with bankruptcy costs. Impacts on the default option and the default barrier are made explicit. The paper also explores the practical applicability of the renting scenarios in the European context by examining the regimes of real estate investment trusts in different countries from the demand-side of commercial renting. Findings Analytical relationships with tax savings, bankruptcy costs, default option and default barrier are identified for the renting-vs-buying real estate decisions. Research limitations/implications The theoretical model assumes simplifications, such as constant debt, to make it operational. The paper centres exclusively on the trade-off capital structure theory. Practical implications This paper is an analysis of corporate real estate decisions together with capital structure. Applications are not only quantitative but also conceptual and strategic. Originality/value Identifying the main variables that govern the impact of corporate real estate decisions on capital structure and interweaving different approaches generates a conceptual framework that enlightens strategic thinking in this field.

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