Best practice, best model, best fit

Kämpf-Dern, Annette; Pfnür, Andreas

doi:10.1108/jcre-09-2013-0027

Cited by 11 publications

(9 citation statements)

References 43 publications

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“…A firm will seek to improve its CRE because corporate profitability depends on meeting performance criteria (Van Ree, 2002). The key elements of CRE strategy implementation are asset management, new space acquisition and surplus space disposal (Kämpf-Dern and Pfnür, 2014). To be effective this requires a dynamic alignment capability, the ability to adjust CRE.…”

Section: Literature Reviewmentioning

confidence: 99%

Lifting the lid on the black box of corporate real estate decision-making; dealing with surplus property

Cooke

Appel‐Meulenbroek

Arentze

2021

JERER

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Purpose The purpose of this paper is to identify the variables that influence corporate real estate (CRE) decision-making and gauge their relative importance to each other, thereby understanding the consequent challenges/implications for CRE managers (CREM’s). Design/methodology/approach Interviews were undertaken with experienced CREM’s using the causal network elicitation technique to create decision networks for the variables they considered for the specifically defined scenario: dealing with surplus property from a change of business strategy. These networks illustrate the complexity of the mental representations required for the realignment of the CRE portfolio. The key variables are more extensive than alignment theory suggests, namely, financial stakeholders. Additional variables identified include risk, lease accounting, costs, financial analysis, business metrics and motivational drivers. The latter indicates the importance of self-esteem and peer recognition for CREM’s and financial benefits for the C-suite. Accordingly strategy alignment needs to incorporate CRE both in terms of strategy creation and implementation. Findings These networks illustrate the complexity of the mental representations required for the realignment of the CRE portfolio. The key variables are more extensive than alignment theory suggests, namely, financial stakeholders. Additional variables identified include risk, lease accounting, costs, financial analysis, business metrics and motivational drivers. The latter indicates the importance of self-esteem and peer recognition for CREM’s and financial benefits for the C-suite. Accordingly, strategy alignment needs to incorporate CRE both in terms of strategy creation and implementation. Originality/value This research appears to be the first that looks in detail at the mental representations used by decision-makers while making CRE decisions.

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Section: Literature Reviewmentioning

confidence: 99%

Lifting the lid on the black box of corporate real estate decision-making; dealing with surplus property

Cooke

Appel‐Meulenbroek

Arentze

2021

JERER

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“…The provision of office space is a secondary process that optimally supports the core process of a company. Kämpf-Dern and Pfnür ( 2014 ) show that in corporate practice there is no one-best model, but there is a best fit. Coworking spaces are an innovative alternative form of space provision to the traditional provision forms of office space.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

User preferences for coworking spaces; a comparison between the Netherlands, Germany and the Czech Republic

et al. 2020

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Coworking spaces have become a central component of new work environments, with large international chains. The purpose of this study is to investigate whether user preferences for the physical workspace design are consistent across countries, which the uniformity of such chains seems to suggest. A comparison between the user preferences of coworking spaces between the Netherlands (n = 219), Germany (n = 98) and the Czech Republic (n = 79) is performed using a mixed multinomial logic model for each country. Besides statistical utility of attributes, also motivations for working in coworking spaces are analysed. The findings show that there are some consistencies in preferences across countries. Typical real estate characteristics like accessibility and contract options came forward to be the most important attributes in choosing which coworking space to work at in all three countries. However, significant differences in the desired quality levels of specifically these attributes were found between the countries as well, and only the less important attributes showed similar preferences internationally. This suggests that identical world-wide implementations of the same concept, might serve multi-nationals but possibly will not attract local users. The identified differences in preferences can help to position more specific, dedicated coworking spaces within local markets.

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“…As per the strategic management best practice approach, all functional managers, including the real estate executive, must play a leading role in the strategic analysis process for strategic direction (David, 2011;Azmi, 2010;Jones Lang LaSalle, 2015). However, this role is not always played by CRE managers (Omar and Heywood, 2010;Kämpf-Dern and Pfnür, 2014), especially in Ghana. It is against this background that Osei Kwarteng et al (2012) argued that the Ghanaian CRE manager is not part of the strategic management team.…”

Section: Essentials For Strategic Corporate Real Estate Management (Screm)mentioning

confidence: 99%

“…Organizations, therefore, adopt a strategic approach to ensure that organizational resources, including CRE, are well managed to support operations (Dess et al, 2008;Gibler and Lindholm, 2012). However, globally, CRE is not strategically managed like other corporate resources (Ngwira et al, 2012;Osei Kwarteng et al, 2012;Kämpf-Dern and Pfnür, 2014), although there is a changing view of CRE from a cost to a value-adding item (CoreNet Global, 2015;Jones Lang LaSalle, 2015).…”

Section: Introductionmentioning

confidence: 99%

Strategic corporate real estate management practice in Ghana

Boakye-Agyeman

Bugri

2019

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Purpose The success of every business depends to a large extent on its corporate real estate (CRE), given that, it is the physical assets that support its operations. To achieve this success, organizations must adopt a strategic approach to CRE management. The purpose of this paper is to examine the extent of adoption of strategic corporate real estate management (SCREM) practice in Ghana based on the views of CRE managers. Design/methodology/approach The embedded mixed method approach was adopted for the study. In total, 72 CRE managers were selected from 35 institutions in 5 sectors (tertiary education, health, banking, security and service industry) where real estate is a requirement for accreditation using a multi-stage sampling technique. Findings An analysis of the existing practices underpinning SCREM in Ghana showed that SCREM has not been adopted completely in Ghanaian institutions. No organization has a complete systematic structure in place for SCREM as the practice is evolving. This finding correlates the global trend that CRE is not strategically managed like other corporate resources. Practical implications Current SCREM practices in Ghana, as divulged by this research, provide useful insight into the current status quo of SCREM and what must be done to ensure that CRE achieves its attribute of value adding. Originality/value The paper outlines the elements of SCREM practice, adding to the limited literature on the practice in Ghana and worldwide. It also sets the stage for further research in SCREM practice and CRE performance.

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Best practice, best model, best fit

Cited by 11 publications

References 43 publications

Lifting the lid on the black box of corporate real estate decision-making; dealing with surplus property

Lifting the lid on the black box of corporate real estate decision-making; dealing with surplus property

User preferences for coworking spaces; a comparison between the Netherlands, Germany and the Czech Republic

Strategic corporate real estate management practice in Ghana

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