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Presentation_KGupta
- 1. The Influence of Cultural Variations on Corporate Real Estate Strategies 1
- 2. • Motivation and Relevance • Research Problem • Research Questions • Theoretical Base • Methodology • Findings • Conclusions • Recommendations Contents 2
- 3. Why corporate real estate (CRE) and culture? Motivation & Relevance 3
- 4. Strategic Resource Corporate Balance sheet Large Asset Value Motivation & Relevance Corporate Real Estate 4
- 5. Influences business strategy Intangible but powerful Strategic Resource Culture Motivation & Relevance 5
- 6. Business strategy Culture CRE Strategy ? Motivation & Relevance 6
- 7. “With an increasing awareness of the potential of their own real estate, organisations are looking at making informed real estate decisions which add to their performance and align to their corporate strategy. The impact of culture, which is an important context for an organisation, on real estate strategy is however, still relatively under researched.” Research Problem 7
- 8. How do cultural variations influence real estate strategies of multinational corporations? • What are the underpinning aspects and dimensions of corporate real estate management? • What are the underpinning aspects and dimensions of culture? • What is the interrelationship between culture and strategy? • What are the interrelationships between culture and CRE strategy? Research Questions 8
- 9. Theoretical Base What is already known? 9
- 12. Organisational Culture is complex Theoretical Base 12
- 13. Competing Values Framework Theoretical Base 13
- 14. Clan Culture Hierarchy Culture Adhocracy Culture Market Culture Theoretical Base Competing Values Framework (Cameron & Quinn, 1999) 14
- 15. Theoretical Base Cultural characteristics (Cameron & Quinn, 1999) 15
- 16. Corporate Real Estate Strategy Theoretical Base 16
- 17. Enhancing Employee Satisfaction and Wellbeing Enabling Flexibility Promoting Marketing, Sales and Brand Increasing Value of Real Estate Assets Increasing Sustainability Increasing Employee Efficiency and Productivity Enhancing Employee Innovation and Creativity Reducing Real Estate Costs Convenient locations Pleasant workplaces Social/informal spaces Low energy usage Public transport Tenure Short term leasing Flexible workspaces Multiple use Knowledge work settings Collaborative spaces Participative design Attractive locations Symbolic buildings Brand enhancing workplace Convenient locations Efficient layouts Productive environments Suitable locations Risk management Obtain valuations Workplace efficiency Workplace standards Routine maintenance Acquisition Costs Theoretical Base Real Estate Strategies (Gibler &Lindholm, 2011) 17
- 18. Methodology How was it done? 18
- 19. Organisational Culture National Culture CRE Strategies CRE Structure Methodology Aspects of Culture and Strategy 19
- 20. 3 organisational characteristics Methodology Other organisational characteristics Industry sector Organisational size Size of real estate department Check Variables 20
- 21. Methodology Questionnaire Development Online Distribution Tool 2 Week Window 140 Responses Quantitative Data Analysis Survey In-house In-house 21
- 22. Methodology • Total of 14 questions • 2 Standard CoreNet Global questions • CRE strategies – 1 Likert scale question • Country of Origin • Organisational Culture – 6 multiple choice questions • Other Questions- Size of CRE dept., Size of Organisation, Industry Sector, and Headquarters 22
- 24. Findings • CRE strategies show distinct relationships with organisational cultures • These associations are related to the cultural characteristics 24
- 25. SustainabilityWellbeing and Satisfaction Findings General Trends Real Estate Assets Real Estate Costs Flexibility Organisational Brand Innovation and Creativity Productivity 25
- 26. Findings Patterns of Association Clan Culture Wellbeing and Satisfaction Sustainability Flexibility Innovation Collaboration Wellbeing Cohesion Participation Empowerment Morale Commitment 26
- 27. Findings Patterns of Association Adhocracy Culture Wellbeing and Satisfaction Productivity Flexibility Innovation Creativity Innovation Agility Adaptability Flexibility Cutting Edge Output 27
- 28. Findings Patterns of Association Market Culture Marketing and Brand Productivity Reduce Costs Competition Productivity Profitability Targets Market Share Customer Focus 28
- 29. Findings Patterns of Association Hierarchy Culture Wellbeing and Satisfaction Productivity Reduce Costs Innovation Control Efficiency Standard Processes Consistency Timeliness 29
- 30. Findings Patterns of Association Hierarchy Culture Wellbeing and Satisfaction Productivity Reduce Costs Innovation Control Efficiency Standard Processes Consistency Timeliness 30
- 31. Findings Historical Trends of CRE strategies Current Study vs. Gibler & Lindholm (2011) Current StudyGibler & Lindholm (2011) Survey conducted in 2010 Survey conducted in 2016 31
- 32. Findings Historical Trends of CRE strategies Current Study vs. Gibler & Lindholm (2011) Strategy ranks in 2010 Strategy ranks in 2016 1 2 3 4 5 6 7 8 1 2 7 8 Reducing real estate costs Increasing productivity Enabling flexibility Increasing innovation and creativity Employee wellbeing and satisfaction Supporting sustainability Promoting marketing and sales Increasing value of real estate assets Reducing real estate costs Increasing productivity Employee wellbeing and satisfaction Enabling Flexibility Increasing innovation and creativity Promoting marketing and sales Supporting sustainability Increasing value of real estate assets 4 5 3 7 6 32
- 33. What has been learnt? Conclusions 33
- 34. Conclusions Cultural Comparisons Organisational culture does have a distinct association with corporate real estate strategy 34
- 35. Conclusions Cultural Comparisons Relationship of organisational culture with corporate real estate strategy is stronger than with other organisational characteristics 35
- 36. Conclusions Cultural Comparisons Adhocracy and Clan cultures show high propensity towards employee centric real estate strategies Wellbeing and Satisfaction ProductivityInnovationFlexibility 36
- 37. Conclusions Cultural Comparisons Market cultures show moderate propensity towards real estate strategies with a higher focus on marketing and brand ProductivityMarketing 37
- 38. Conclusions Cultural Comparisons Hierarchy cultures show a more traditional perspective to CRE strategies Reduce costs 38
- 39. Conclusions Cultural Comparisons Some CRE strategies are not impacted by organisational culture Reduce costsAsset Value 39
- 40. Conclusions Historical Comparison Cost reduction and Increasing real estate asset values maintain the same priority after 6 years Reduce costsAsset Value 40
- 41. Conclusions Historical Comparison Post-recession, organisations seem to have realised the benefits of adopting innovative employee centric real estate strategies Wellbeing and Satisfaction ProductivityInnovationFlexibility 41
- 42. Recommendations How this helps academia and practice. 42
- 47. 47