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.

中文翻译：

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揭开公司房地产决策黑匣子的盖子；处理剩余财产

目的

本文的目的是确定影响公司房地产（CRE）决策的变量，并评估它们之间的相对重要性，从而了解对CRE经理（CREM's）带来的挑战/启示。

设计/方法/方法

通过使用因果网络启发技术与经验丰富的CREM进行访谈，为他们针对特定定义的场景所考虑的变量创建决策网络：处理业务策略变更中的剩余财产。这些网络说明了重新组合CRE产品组合所需的心理表征的复杂性。关键变量比一致性理论所建议的更广泛，即财务利益相关者。确定的其他变量包括风险，租赁会计，成本，财务分析，业务指标和激励因素。后者表明了自尊和同伴认可对于CREM的重要性以及对C主管的财务利益的重要性。因此，战略调整需要在战略制定和实施方面都纳入CRE。

发现

这些网络说明了重新组合CRE产品组合所需的心理表征的复杂性。关键变量比一致性理论所建议的更广泛，即财务利益相关者。确定的其他变量包括风险，租赁会计，成本，财务分析，业务指标和激励因素。后者表明了自尊和同伴认可对于CREM的重要性以及对C主管的财务利益的重要性。因此，在战略制定和实施方面，战略调整需要将CRE纳入其中。

创意/价值

这项研究似乎是第一个详细研究决策者在进行CRE决策时所使用的心理表征的研究。