Identifying and measuring the success of corporate real estate management

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Doctoral thesis (article-based)
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Date
2008
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Language
en
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Verkkokirja (813 KB, 75 s.)
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Abstract
The added value of corporate real estate management (CREM) for the core business is not yet properly discussed and identified in spite of the recent recognition of CREM as a strategic support function of an occupier organisation. Little attention has been paid to the added value that CREM can generate from strategically supporting core business processes. The purpose of this study is to increase knowledge about the contribution of corporate real estate management to the core business by concentrating the success factors and performance measurement of CREM. The following primary research question is formed from the literature review: How can the contribution and success of the corporate real estate management be identified and measured? This study is interpretative in nature and is lying on abductive logic. The methods for primary data collection are semi-structured interviews. Based on the results of the qualitative data analysis, the research constructs are sharpened and the hypothetical model for identifying and measuring the added value of corporate real estate management is created. The empirical testing of the theoretical model is done by conducting a constructive study, where the validation of the model is done by in-depth case research. At the end, after the validation of the model, the theoretical contribution, practical utility and recommendations for future research are presented. The general model for identifying and measuring the value added by corporate real estate is a novel construct that develops the relationship between corporate strategic management systems and real estate decisions and operations. This leads to means to identify and prove the contribution of real estate to the occupier organisation and the possibilities that exist for adding value. However, the model still needs to be tested and developed further. In this study, the tested measures were developed for measuring the CREM unit's ability to achieve their aims, but there is also a need to measures, which demonstrate the benefits of CREM for core business in economical figures.
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Keywords
corporate real estate management, added value, performance measurement
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Parts
  • [Publication 1]: Anna-Liisa Lindholm. 2005. Kiinteistöjen käyttäjäorganisaatioiden kiinteistöjohtamisen strategioista (Corporate real estate strategies). Maanmittaus, volume 80, numbers 1-2, pages 24-41. © 2005 Maanmittaustieteiden Seura ry. By permission.
  • [Publication 2]: Anna-Liisa Lindholm, Karen M. Gibler, and Kari I. Leväinen. 2006. Modeling the value-adding attributes of real estate to the wealth maximization of the firm. Journal of Real Estate Research, volume 28, number 4, pages 445-475.
  • [Publication 3]: Anna-Liisa Lindholm and Kari I. Leväinen. 2006. A framework for identifying and measuring value added by corporate real estate. Journal of Corporate Real Estate, volume 8, number 1, pages 38-46. © 2006 Emerald Group Publishing. By permission.
  • [Publication 4]: Anna-Liisa Lindholm and Suvi Nenonen. 2006. A conceptual framework of CREM performance measurement tools. Journal of Corporate Real Estate, volume 8, number 3, pages 108-119. © 2006 Emerald Group Publishing. By permission.
  • [Publication 5]: Anna-Liisa Lindholm. 2008. A constructive study on creating core business relevant CREM strategy and performance measures. Facilities, volume 26, numbers 7-8, pages 343-358. © 2008 Emerald Group Publishing. By permission.
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