The technological impact on real estate investing: robots vs humans: new applications for organisational and portfolio strategies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Elaine Worzala ◽  
Lawrence A Souza ◽  
Olga Koroleva ◽  
China Martin ◽  
Alicia Becker ◽  
...  
Keyword(s):  
Real Estate ◽  
Leadership Style ◽  
New Technologies ◽  
Rapid Change ◽  
Management Style ◽  
Revolutionary Change ◽  
Content Type ◽  
Organisational Form ◽  
Organisational Structures ◽  
The Impact

PurposeThe goal of this paper is to present a roadmap for real estate operating companies (REOCs) to transform themselves into tech-centric enterprises.Design/methodology/approachThis qualitative approach is based on the impact of technology on physical real estate assets and organisational structures as reviewed in industry and academic literature, professional experience and current property technology (PropTech) applications.FindingsNew technologies are rapidly changing how investors, tenants and managers use, invest and finance property. The revolutionary change for the industry will be in its organisational and industry structure, away from the traditional hierarchical-mechanistic form to a virtual open-agile-innovative organisational form.Research limitations/implicationsResearch limitations come from the lack of real estate companies utilising the hybrid flipped form of organisational structures.Practical implicationsDue to the current state of the economy, effects of the pandemic and rapid adoption of new technologies, real estate companies are likely to radically change the way they are organised, how they add value, innovate and their leadership/management style.Social implicationsThe revolution in real estate technologisation will not come from the application of these technologies but the rapid change in ideological thought and management leadership style and culture.Originality/valueThe introduction of artificial intelligence/machine learning (AI/ML), blockchain, virtual reality, tablets, cell phones, applications, 5G, etc. is putting pressure on real estate organisations to change. These changes are long overdue and the future, modern real estate company will take a hybrid PropTech form – a company focussed on delivering high-quality products and services to its clients in real time.

The impact of rework and organisational culture on project delivery

2016 ◽  
Vol 14 (2) ◽  
pp. 214-237 ◽  
Author(s):  
Luqman Oyekunle Oyewobi ◽  
Ojo Abiola-Falemu ◽  
Olajide Timothy Ibironke
Keyword(s):  
Factor Analysis ◽  
Construction Industry ◽  
Leadership Style ◽  
Management Practices ◽  
Organisational Culture ◽  
Management Style ◽  
Project Delivery ◽  
Content Type ◽  
Qualitative Approaches ◽  
The Impact

Purpose It is generally accepted that organisational culture is capable of influencing how project organisation performs. It can also impact on how people set individual goals and objectives, perform their roles, tasks and deploy resources to achieve set objectives. The purpose of this paper is to examine the influence of organisational culture on the occurrence of rework in Nigerian construction industry. Design/methodology/approach The research adopted mixed method research using both quantitative and qualitative approaches to elicit information. Though, the result of the questionnaire survey was presented in this paper. Exploratory factor analysis was used to identify which variables measured attributes of the same underlying proportions, while descriptive statistics and multiple regression analysis were used to establish the influence of organisational culture on rework. Findings The study identifies 14 factors as causes of rework from the result of factor analysis. The outcome also indicates that leadership style, success criteria and management style are important organisational culture dimensions. Poor management practices and lack of teamwork are found to be largely responsible for poor project delivery due to rework occurrence. Practical/implications The research will be of significant benefit to both the academic and industry practitioners. The result of the research will provide academics with useful insights into the influence of organisational culture on project delivery by undertaking future research to inform better understanding. The research will also provide practitioners with good understanding of how culture within their organisations can influence the performance of their subordinates or employees. Further research is encouraged to investigate the influence of management and leadership style on project delivery in the context of Nigeria. Originality/value This study is the first attempt to investigate the influence of organisational culture on occurrence of rework empirically in the Nigerian construction industry. There is paucity of research focusing on this area as it affects project delivery.

Potential for optimising organisational structures in the technical due diligence for real estate transactions in Germany

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yannis Steffen Oetken ◽  
Christian Hofstadler ◽  
Felix Meckmann
Keyword(s):  
Real Estate ◽  
Transaction Management ◽  
Due Diligence ◽  
Content Type ◽  
The Real ◽  
The Real Estate ◽  
Theoretical Approaches ◽  
Transaction Process ◽  
Organisational Structures

PurposeThe individual levels involved in real estate management are thoroughly discussed in the literature. This paper provides a structured meta-analysis of the different theoretical approaches in German-speaking countries. It also investigates the integration of transaction management and technical due diligence into the concepts of organisation theory. In this process, the interfaces are analysed and optimised models are developed for transferring the technical due diligence findings to the operational level.Design/methodology/approachInterviews with transaction management experts were conducted based on a narrative literature review. These interviews shed light on how the components of transaction management and due diligence are integrated into the transaction process, with a particular focus on technical due diligence. They also provide insights into how the related results are taken into account in relation to the transaction, and how they are transferred into the operational phase.FindingsIt becomes apparent that the role of transaction management is not clearly defined and delimited in the structural model of the real estate industry. Technical due diligence findings are usually transferred to the operation of the property via several, manual interfaces with corresponding losses of knowledge. The related models derived and developed for the purpose of operational optimisation define the role of transaction management against a technical background and identify the interfaces to be considered.Practical implicationsThe significance of transaction management for subsequent operations is discussed and elaborated on. More specifically, transferring safety-relevant, high-priority findings from the technical due diligence exercise plays a crucial role for the modelling stage. On the implementation level, the derived models serve as a basis for customising the internal organisational structure.Originality/valueIn Germany, there has hardly been any research into the involvement of technical experts in the real estate transaction process to date. This paper provides initial approaches to optimising organisational structures and sustainably integrating technical due diligence findings into real estate operations.

CEO behavior and sustainability performance: the moderating role of corporate governance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Amel Kouaib ◽  
Asma Bouzouitina ◽  
Anis Jarboui
Keyword(s):  
Corporate Governance ◽  
Real Estate ◽  
Corporate Sustainability ◽  
Least Square ◽  
Content Type ◽  
Sustainability Performance ◽  
Corporate Sustainability Performance ◽  
Good Corporate Governance ◽  
Governance Practices ◽  
The Impact

PurposeThis paper explores how the tension between a firm's CEO overconfidence feature and externally observable hubris attribute may determine the level of corporate sustainability performance. This work also contemplates the impact of the moderator “corporate governance practices.”Design/methodology/approachThis study uses a sample of 658 firm-year-observations using a sample of European real estate firms indexed on Stoxx Europe 600 Index from 2006 to 2019. To test the developed hypotheses, feasible generalized least square (FGLS) regression is applied.FindingsFindings suggest that a good corporate governance score strengthens the positive effect of the psychological bias (CEO overconfidence) on corporate sustainability performance while it fails to attenuate the negative effect of the cognitive bias (CEO hubris).Research limitations/implicationsThe research provides an overview of the impact of CEO personality traits on the corporate sustainability performance level in the European real estate sup-sector. As corporate governance can have a major impact to control these traits, the authors recommend European real estate companies to improve their corporate governance practices.Originality/valueThis study contributes to the existent literature this gap with two empirical novelties: (1) providing a novel insight into sustainability involvement using a sample of European real estate sup-sector and (2) investigating the moderating effect on the link between CEO psychological and cognitive biases and sustainability performance. This study provides empirical evidence that entrenchment problems arising from CEO hubris would not be mitigated by a good corporate governance practice.

The impact of corporate bankruptcy on strategic management: using a textual analysis approach to analyze executives’ opinions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Raphael Nagel ◽  
Carmen Aviles
Keyword(s):  
Strategic Management ◽  
Global Economy ◽  
Textual Analysis ◽  
New Technologies ◽  
Organizational Structures ◽  
Analysis Approach ◽  
Management Decision ◽  
Content Type ◽  
Emergency Situations ◽  
The Impact

Purpose In the past decade, the development of the global economy, the change in organizational structures and the maturing of new technologies have led to considerable changes in business structures. Emergency situations, such as the recent COVID-19 pandemic, have led many companies to declare bankruptcy. In this context, the present study aims to analyze strategic opinions of company executives in a declaration of bankruptcy. Design/methodology/approach To this end, an innovative approach is applied to strategic management and business. First, the authors conducted 14 interviews with executives, and the interview data were transcribed. Second, using textual analysis and data mining techniques, the transcripts were analyzed to understand the importance of indicators identified as relevant in companies in a declaration of bankruptcy. Findings This resulted in identification of 10 relevant indicators perceived by executives to avoid or anticipate a state of bankruptcy, including innovation, business adaptability, room for improvement in production processes, time to react to situations of alarm, layoffs, support from public institutions, suppliers, international and national regulations, impact on the industry, credits and debts. Originality/value The paper concludes with a discussion of important theoretical and practical implications of these findings for the industry. Also, strategic management decision-making strategies are presented as a result of the innovative textual analysis approach used.

Positive and proactive leadership: disentangling the relationships between stress, resilience, leadership style and leader satisfaction/well-being

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Charlotte D. Shelton ◽  
Sascha D. Hein ◽  
Kelly A. Phipps
Keyword(s):  
Leadership Style ◽  
Time Management ◽  
Leadership Behaviors ◽  
Well Being ◽  
Process Skills ◽  
Work Process ◽  
Theoretical Understanding ◽  
Content Type ◽  
Positive Leadership ◽  
The Impact

Purpose This study aims to analyze the relationships between leader resilience, leadership style, stress and life satisfaction. It reflects an emerging theoretical framework that positions resilience as a capacity that can be developed vs a response mechanism driven by innate traits. Design/methodology/approach To test three research hypotheses, online survey data were collected from 101 E.M.B.A. alumni of a US-based university using a cross-sectional, correlational research design. The results were analyzed using multiple linear regression. The authors assessed resilience, leadership style, stress and satisfaction/well-being using standardized inventories. Findings The results support previous research that has identified a significant relationship between resilience and positive leadership. Unique to this study, however, is the finding that work process behaviors (e.g. time management, cooperation, receptiveness) rather than traits (e.g. optimism, self-esteem, locus of control) are the resilience factors most associated with a positive leadership style. Work process skills significantly interacted with stress level to moderate leadership style. Additionally, a positive leadership style moderated the impact of stressful life events on leader satisfaction/well-being. Research limitations/implications Key limitations are sample size and the risk of common method variance. Though numerous procedural steps were taken to control for these issues, future research with a larger and more diverse sample is needed. Practical implications Organizational stress is pervasive, and resilience is increasingly recognized as a foundational leadership skill. This study provides empirical data documenting positive relationships between resilience, constructive leadership and leader satisfaction/well-being. This research also identifies work process behaviors (e.g. time management, cooperation and receptiveness) as the primary resiliency factors associated with sustaining positive leadership behaviors in times of stress. These results support previous research findings that have positioned resiliency as a capacity that can be developed, providing further support for investing in resiliency training for leaders. Originality/value This research contributes to the literature by analyzing resilience more comprehensively than previous studies. It extends the theoretical understanding of resilience beyond traits using an 160-item inventory that assesses four discrete domains of resilience. The results provide support for the importance of developing process skills in leaders to increase resiliency; thus, increasing the probability, they will model constructive leadership behaviors in times of significant stress.

The impact of transformational leadership on employees’ acceptance to change

2018 ◽  
Vol 48 (4) ◽  
pp. 559-578 ◽  
Author(s):  
Ritu Tayal ◽  
Rajesh Kumar Upadhya ◽  
Mohit Yadav ◽  
Santosh Rangnekar ◽  
Reena Singh
Keyword(s):  
Transformational Leadership ◽  
Leadership Style ◽  
Positive Association ◽  
Mediating Effects ◽  
Content Type ◽  
Bank Managers ◽  
Innovative Behaviour ◽  
Service Oriented ◽  
Employee Acceptance ◽  
The Impact

Purpose The purpose of this study is to empirically examine the association between transformational leadership and employee acceptance to change while establishing the mediating effects of innovative behaviour and the moderating effect of the use of information technology (IT) on this association. Design/methodology/approach In total, 378 employees of ten banks from Uttarakhand, India, participated in a questionnaire-based survey. The proposed hypotheses and the proposed conceptual model were tested using macro process (Hayes, 2013). Findings The results indicated that there exists a positive association between transformational leadership and employee acceptance to change. Furthermore, it was found that this association was mediated by employee innovative behaviour and moderated by the use of IT. Practical implications The findings of this study will help managers to comprehend the significance of the innovative behaviour of employees in moulding their acceptance towards change. This paper should encourage bank managers to perceive the significance of the working practice and the infusion of IT. Furthermore, this study accentuates the significance of an effective leadership style, i.e. transformational leadership, as an essential phenomenon to positively impinge on employee acceptance to change in a service-oriented industry, namely banking. Originality/value The present study enriches the extant research on transformational leadership and employee acceptance to change by demonstrating the use of IT and innovative behaviour as vital and the important factors that influence the level of persuasion that transformational leadership has on employee acceptance to change.

scholarly journals How customers’ offline experience affects the adoption of online banking

2016 ◽  
Vol 26 (5) ◽  
pp. 1072-1092 ◽  
Author(s):  
Antonia Estrella-Ramon ◽  
Manuel Sánchez-Pérez ◽  
Gilbert Swinnen
Keyword(s):  
Technology Acceptance ◽  
Diffusion Of Innovation ◽  
Financial Services ◽  
New Technologies ◽  
Online Banking ◽  
Adoption Process ◽  
Content Type ◽  
Parametric Survival Model ◽  
Self Service Technology ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of customers’ offline transaction behaviour in the form of loyalty and cross-buying on the adoption of self-service technology innovations by non-business customers in the context of online banking. Design/methodology/approach This study extends the Diffusion of Innovation Theory, as well as the Technology Acceptance Model adapted to describe and model individual customer observed behaviours in the pre-adoption stage of the adoption process. The Log-logistic parametric survival model is applied using panel data for 1,357 randomly selected new customers from a bank. Findings Significant differences arise among customers’ behaviours related to periodicity of interactions with the bank and quantity of products involved in the interactions, as well as convenience and risk of the interactions. The results corroborate that those customers who are more likely to adopt the online banking faster show an offline behavioural pattern more related to higher periodicity of interactions and convenience, rather than a high number of products involved in their interactions, the use of high-risk products or the maintenance of a higher average monthly liabilities. Originality/value While previous research explaining the process of adoption of the online channel has mainly focused on the analysis of customers’ attitudes (i.e. customers’ perceptions) and demographics, in this research an additional explanation is proposed using customers’ offline transaction behaviours. In addition, there is a considerable amount of research about the adoption of new technologies, but there is a scarcity of studies looking specifically at the financial services and banking industry.

scholarly journals High tech meets high touch in upscale hotels

2016 ◽  
Vol 7 (4) ◽  
pp. 347-365 ◽  
Author(s):  
Ana Brochado ◽  
Paulo Rita ◽  
Ana Margarido
Keyword(s):  
Design Methodology ◽  
New Technologies ◽  
High Tech ◽  
Technological Innovations ◽  
Content Type ◽  
Hotel Websites ◽  
Hotel Managers ◽  
The Impact ◽  
Qualitative Phase ◽  
Business Travellers

Purpose This paper presents an analysis of the impact of current technologies on customer experiences in upscale hotels and assesses the potential of the latest technologies for enhancing customers’ stay. Design/methodology/approach A two-step approach was applied in this study. The qualitative phase included an examination of upscale hotel websites, interviews with hotel managers and an internet search regarding the latest technological innovations in hotels. In the quantitative stage, a questionnaire was developed for hotel guests, generating a sample of 310 valid completed questionnaires. Findings The results reveal that hotel guests value digital involvement in their hotel experience. Moreover, business travellers and younger generations give greater importance to latest technologies. Originality/value This study analyses the most innovative technologies, providing guidance for hoteliers wishing to upgrade or implement new technologies. Based on the findings, hoteliers can achieve greater differentiation by offering the most important and latest technology to guests, enhancing their experience and attracting new customers, which can potentially lead to increased revenues. The study’s results are also important because they include the perceptions of both managers and customers.

scholarly journals The impact and importance of new technologies in business development in context of economic diversity

2017 ◽  
Vol 11 (1) ◽  
pp. 698-710 ◽  
Author(s):  
Oana-Georgiana Ciobanu ◽  
Daniela Mihaela Neamţu
Keyword(s):  
Generation X ◽  
New Technologies ◽  
Technological Development ◽  
Qualitative Comparative Analysis ◽  
Business Environment ◽  
Management Style ◽  
Group Method ◽  
Continuous Innovation ◽  
Two Generations ◽  
The Impact

Abstract In a globalized world, led and connected by and through technology, gadgets and perpetual and intense technological development, the business environment and the trajectory travelled by entrepreneurs in the process of creation and development of a business, becomes more and more challenging and complex. Continuous innovation has become mandatory and „adaptability” became the keyword for the success of any entrepreneurial actions. In this socio-economic context, an organization must find, through entrepreneurs or managers, the courage to face the uncertainty and be always prepared to adopt radical solutions, so that, can provide sustainability of the business through competitiveness. The purpose of this research started from the need for adaptability and flexibility of the Romanian entrepreneurial environment to the trends in the digital era, in order to maintain the level of competitiveness and to develop sustainably. The objective of this scientific approach is to conduct a qualitative comparative analysis relating to the importance and the impact of new technologies in the development and sustainability of a business. The comparison will be made through the eyes of two main categories of actors in the creation and development of a business namely entrepreneurs and managers from two consecutive generations - generation X (born between 1965 and 1980) and generation Y (born between 1980 and 1995). The methodology used in this study is qualitative research through focus group method, and it aims to be highlighted the changes occurred in leadership and management style of a business/organization, by observing and comparing the two generations' attitudes towards change, towards new, towards the digital component, and the intent of the use of new technologies, and more than that, their impact on the management style.

scholarly journals Cap rates and risk: a spatial analysis of commercial real estate

2018 ◽  
Vol 35 (1) ◽  
pp. 25-43
Author(s):  
Florian Unbehaun ◽  
Franz Fuerst
Keyword(s):  
Real Estate ◽  
Risk Perceptions ◽  
Large Scale ◽  
Risk Premia ◽  
Real Estate Market ◽  
Commercial Real Estate ◽  
Data Series ◽  
Large Set ◽  
Content Type ◽  
The Impact

Purpose This study aims to assess the impact of location on capitalization rates and risk premia. Design/methodology/approach Using a transaction-based data series for the five largest office markets in Germany from 2005 to 2015, regression analysis is performed to account for a large set of asset-level drivers such as location, age and size and time-varying macro-level drivers. Findings Location is found to be a key determinant of cap rates and risk premia. CBD locations are found to attract lower cap rates and lower risk premia in three of the five largest markets in Germany. Interestingly, this effect is not found in the non-CBD locations of these markets, suggesting that the lower perceived risk associated with these large markets is restricted to a relatively small area within these markets that are reputed to be safe investments. Research limitations/implications The findings imply that investors view properties in peripheral urban locations as imperfect substitutes for CBD properties. Further analysis also shows that these risk premia are not uniformly applied across real estate asset types. The CBD risk effect is particularly pronounced for office and retail assets, apparently considered “prime” investments within the central locations. Originality/value This is one of the first empirical studies of the risk implications of peripheral commercial real estate locations. It is also one of the first large-scale cap rate analyses of the German commercial real estate market. The results demonstrate that risk perceptions of investors have a distinct spatial dimension.

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