Approaches to Aligning Corporate Real Estate and Organisational StrategyORGANISATIONAL STRATEGY
||Approaches to Aligning Corporate Real Estate and Organisational StrategyORGANISATIONAL STRATEGY
||18th Annual European Real Estate Society Conference in Eindhoven, the Netherlands
||This paper investigates the alignment between Corporate Real Estate (CRE) and organisational strategy that is thought to be important for CRE to deliver value to the organisation. The CRE literature has a number of models but as evidence from practice indicates that these are not being used this suggests that how alignment occurs may not be completely clear. Furthermore, there is anecdotal evidence that simplistic, deterministic drivers of alignment are sought for, though the complex, multi-dimensional nature of CRE and its management suggests a more comprehensive understanding of the basis of alignment is necessary. Design/Methodology/approach: As a basis for an empirical investigation, this paper, after investigating ten existing alignment models, sets out five possible theoretical approaches that could apply to CRE alignment – deterministic, algorithmic, heuristics, wicked problems and game theory. The empirical study investigates those approaches’ applicability in practice. Findings: A framework of fifteen possible components to existing alignment models are identified which are variously and incompletely deployed in those models. The empirical study’s early results show evidence of the five approaches with game theory most evident. Implications for research: The frameworks introduced here suggest a more comprehensive basis for alignment offering some ways forward in addressing the fragmented theory of CRE alignment. Future lines of enquiry are evident that can take place using an expanded theorisation of CRE strategic alignment. Implications for practice: As practice imperfectly deploys existing alignment models it is thought that a more comprehensive framework to alignment would be benefit practice as it seeks to deliver and demonstrate the delivery of value to the organisation through aligning CRE and organizational strategy.
||Corporate Real Estate, management practices, strategic alignment, theoretical models
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||A5: Corporate Real Estate Management (I)
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