Cre Strategic
The current issue and full text archive of this journal is available at www.emeraldinsight.com/1463-001X.htm
Value management: raising CRE strategic relevance
Sally A. Fisher
Global Client Services, Cushman & Wakefield, Los Angeles, California, USA
Abstract
Purpose – The purpose of this paper is to describe the need to go beyond relationship management to embrace the techniques of value management with details on why and how CRE managers should pursue this as a professional goal. Design/methodology/approach – This article discusses the experiences of the author working across multiple global corporate accounts. The article advances the discussion on how to strategically align and advance the performance of CRE departments to support business change for corporate competitive advantage. Findings – As CRE managers strive to elevate their strategic relevance to the organization, they are challenged to go beyond relationship management. They are challenged to become value managers, capable of implementing corporate strategy anywhere and with anyone in the organization. Research limitations/implications – Further research is warranted into the perspectives of senior management on the contribution of CRE to the business planning process. CRE managers are often viewed as functional experts and may be overlooked as candidates for involvement in corporate management development programs. Practical implications – CRE managers, in charge of business alignment, must turn a professional corner by focusing more on driving corporate value. A career choice is required to invest in the business and financial acumen needed to sit credibly at the planning table with senior management. The career path of the in-house CRE manager is one of a general business manager, referred to in this article as a “value manager”. Originality/value – CRE managers are challenged to adopt the behavior, attitude and skill set of general business managers to arrive at solutions to business
Value management: raising CRE strategic relevance
Sally A. Fisher
Global Client Services, Cushman & Wakefield, Los Angeles, California, USA
Abstract
Purpose – The purpose of this paper is to describe the need to go beyond relationship management to embrace the techniques of value management with details on why and how CRE managers should pursue this as a professional goal. Design/methodology/approach – This article discusses the experiences of the author working across multiple global corporate accounts. The article advances the discussion on how to strategically align and advance the performance of CRE departments to support business change for corporate competitive advantage. Findings – As CRE managers strive to elevate their strategic relevance to the organization, they are challenged to go beyond relationship management. They are challenged to become value managers, capable of implementing corporate strategy anywhere and with anyone in the organization. Research limitations/implications – Further research is warranted into the perspectives of senior management on the contribution of CRE to the business planning process. CRE managers are often viewed as functional experts and may be overlooked as candidates for involvement in corporate management development programs. Practical implications – CRE managers, in charge of business alignment, must turn a professional corner by focusing more on driving corporate value. A career choice is required to invest in the business and financial acumen needed to sit credibly at the planning table with senior management. The career path of the in-house CRE manager is one of a general business manager, referred to in this article as a “value manager”. Originality/value – CRE managers are challenged to adopt the behavior, attitude and skill set of general business managers to arrive at solutions to business
References: Bruch, H. and Ghoshal, S. (2002), “Beware the busy manager”, in Harvard Business Review (Ed.), Becoming a High Performance Manager, Boston, MA, pp. 17-38. CFO Research Services (2003), “The CFO perspective on corporate real estate”, working paper, CFO Publishing Corporation. IAOP Knowledge Center (2007), “10 Years of outsourcing practice: tactical, strategic and transformational”, working paper, International Association for Outsourcing Professionals. Jacobs, B. (2007), “Beyond boundaries: leveraging partners to maximize the value chain”, working paper, Jones Lang LaSalle IP Inc., New York, NY. Johnson, M., Christensen, C.M. and Kagermann, H. (2008), “Reinventing your business model”, Harvard Business Review, December, pp. 51-9. McCarty, T., Hunt, R. and Truhan, J.E. (2006), “Transforming CRE value through relationship management”, Journal of Corporate Real Estate, Vol. 8 No. 1, pp. 4-18. Roper, K. (2001), “Aligning corporate real estate with the business of your company”, Journal of Corporate Real Estate, Vol. 3 No. 3, pp. 222-31. Further reading Arthur, M.B. and Rousseau, D.M. (1996), The Boundaryless Career: A New Employment Principle for a New Organizational Era, Oxford University Press Inc., New York, NY. Bower, J.L., Capelli, P., Hamori, M. and Ciampa, D. (2007), “So you want to be CEO (HBR Article Collection)”, Harvard Business Review. Value management 235 JCRE 11,4 Ciampa, D. (2005), “Managing yourself”, Harvard Business Review. Hamel, G. and Prahalad, C.K. (1994), Competing for the Future, Harvard Business School Press, Boston, MA. About the author Sally A. Fisher is responsible for the integration and performance of services across real estate and facilities provided by Cushman & Wakefield to one of its major corporate accounts. Ms Fisher earned an MBA at the University of Michigan and an MRED at the University of Southern California. She has spent her professional career advising on the design and advancement of corporate organizations to enhance performance, alignment across functional groups, and execution of occupancy, location and financial strategies. Sally A. Fisher can be contacted at: safisher@firstam.com 236 To purchase reprints of this article please e-mail: reprints@emeraldinsight.com Or visit our web site for further details: www.emeraldinsight.com/reprints