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What are the steps to enter a new real estate development market?

1. Market Research: Thoroughly research the new real estate development market you are considering entering. Analyze factors such as population growth, economic trends, market demand, existing competition, and government regulations. This will help you understand the market dynamics and identify potential opportunities and challenges.

2. Define Your Objectives: Clearly define your objectives for entering the new market. Determine what type of real estate development you want to pursue, such as residential, commercial, or mixed-use projects. Identify your target audience and the specific niche or market segment you want to cater to.

3. Financial Assessment: Assess the financial viability of entering the new market. Evaluate the costs involved, including land acquisition, construction, permits, financing, marketing, and other expenses.

4. Networking and Partnerships: Build a network of professionals and establish partnerships in the new market.

5. Legal and Regulatory Compliance: Familiarize yourself with the legal and regulatory requirements for real estate development in the new market.

6. Land Acquisition: Identify suitable land or property for your real estate development projects. Consider factors such as location, accessibility, infrastructure, zoning, and potential for future growth.

7. Develop a Business Plan: Create a detailed business plan for your real estate development ventures in the new market. Outline your goals, financial projections, project timelines, marketing strategies, and risk management approaches.

8. Obtain Financing: Secure the necessary financing for your projects. Explore options such as bank loans, private investors, joint ventures, or crowdfunding platforms. Develop a comprehensive financial package that includes your business plan, project feasibility, and projected returns to present to potential lenders or investors.

9. Execution and Project Management: Once you have acquired land and secured financing, begin the execution of your real estate development projects. Coordinate with architects, engineers, contractors, and other professionals to ensure smooth project management.

10. Marketing and Sales: Develop a strategic marketing plan to promote and sell your real estate projects in the new market.

FUNDAMENTALS OF COMPANY CULTURE — BEHAVIORS ASSOCIATED

Everyone wants to improve their company culture. Culture has become the ultimate buzzword these days. Leaders also seem to talk about it all the time. Let’s look past the buzz and grasp the roots of organizational culture. If we want to influence our company culture, we have to start with a keen understanding of what culture actually is.

What Is Company Culture?

Culture is the thing we cannot necessarily touch and feel — it is the invisible binds and unspoken rules that enforce “how people do things around here.” However, this definition can be insufficient at times. “The way we do things” feels awfully vague and amorphous, especially when it comes to thinking about how to intentionally create a company culture we’re proud of. As a result, our attempts to influence culture get muddled. We conflate culture with surface-level relics, confusing culture with “Things To Make People Feel Good.” - ping pong tables, happy hours and free lunches. Sure, those are part of “the way we do things” — but it doesn’t explain why we are doing those things. Culture includes that why.

Measuring Company Culture

We can’t. And we don’t want to. Culture isn’t meant to be measured. Why? Because culture, technically defined, is the artefacts, espoused values and beliefs, and basic underlying assumptions that people have. And that can’t be measured quantitatively. Measuring/ quantifying it may erode the point of culture. Culture is an organization’s compass for behaviour. It’s what people use to decide what actions are acceptable, and what are not. For example, at some places it may guide people to publicly report a mistake. At other places, it nudges people to brush a similar mistake under the rug.

Measuring culture is like saying we want to measure a compass. We can pick it up and say, “Hmm, let me rate the shininess of this compass, or weigh how heavy it is.” But, really, what we care about is if the compass points us to where we want to go. Measuring the compass itself doesn’t do you much good. Because if we don’t see culture as a lever that influences what we are trying to accomplish as a team, and instead as the thing itself we are trying to maintain, we lose sight of culture’s power in the first place: Culture helps a group of people get what they want done, done.

As a result, what we can measure are the outputs of culture. The observable behaviors and indicators we see as the consequences of our culture. Possibly the most important output to gauge is progress. Studies show how progress, more than anything, influences employee motivation. This means defining what “progress” looks like on a day-to-day basis. Is it the speed by which things are happening? Is it the quality of the work being produced? Is it the number of people we are helping because our work product exists? It could also mean asking questions like how helpful managers are in supporting people to make progress, or how frequently they encounter frustrating obstacles in a given week. Therefore: If we want to measure culture, we need to start with clearly defining what the outputs of a successful, healthy culture looks like in our context. 

Levels of culture

Why this matters

More often than not, there is a misalignment between the invisible and visible layers. The things we actually believe, versus the things we say we believe and the things we do to show it.

A Sample Case Study: Perhaps the most glaring case has been Uber. A company that no doubt had visible signs as “proof” that they valued their employees — lavish office parties and state-of-the-art offices. A company that had 14 cultural values it touted, including that employees should “be themselves.” And yet the basic underlying assumption persisted: Win at all costs, by any means necessary. We saw this in countless of examples of questionable ethics and sexual harassment issues ignored. At its core, Uber’s culture was rooted in this aggressive, toxic mindset — and that manifested in how they treated their people, regardless of what superficial artifacts or espoused values they trumpeted.

If we are looking to truly shift our company’s culture, we have to zoom in on this bottom most layer: our basic underlying assumptions. What we truly believe — not always what we say or outwardly show — is what drives the company’s culture.  Changing the company culture is not about just changing the visible signs. Getting beer taps installed in the kitchens doesn’t make the culture more friendly. Nor does building an onsite gym mean the culture all of sudden cares about employees’ health and well-being. Changing the company culture also is not about just changing the espoused values and beliefs. Saying at all-company meetings, “We believe in honesty and transparency” or writing “We believe in diversity and inclusion” on a website doesn’t automatically make those things true.

Changing company culture is about tapping into the core beliefs of each individual, understanding what their basic underlying assumptions are, and creating an environment where those can be listened to, brought together, and reacted to. If we can understand company culture, we can improve it.

Classification of Culture Types: The Schneider Model

The Schneider cultural model isn’t a new approach but it is relevant today. William Schneider describes culture as the answer of “How we do things around here to succeed?” No one culture type is better than another. They only have strengths and weaknesses. Depending on the type and nature of work, different types of culture may be a better fit. Companies typically have a dominant culture with aspects from other cultures. Different departments or groups may have different cultures. (e.g. development vs. operations), and these differences can lead to conflict.

Four Main Types of Culture

The Schneider Model identifies the primary, underlying culture which shapes the organisation. There are 4 main types: - Control - Cultivation - Collaboration – Competence

Control cultures (COMPANY/REALITY oriented) are process-driven; the company’s success depends on data, processes, etc. Many energy, aviation and defence companies have control cultures. Control cultures prize objectivity. Emotions, subjectivity, and ‘soft’ concepts take everyone’s eye off the ball and potentially get the organization in trouble. Empiricism and the systematic examination of externally generated facts are highly valued. Control cultures want no competition – they want to be the only players in town. Control cultures are command-and-control/ hierarchical- Leaders manage the work. Examples: The military, Police, Exxon. 

Collaboration cultures (PEOPLE/REALITY oriented) – people work together towards a shared goal. The Collaboration culture springs from the household. Relationships are key to getting things accomplished. Google is an example, though it also has cultivation culture elements. The way to success is to put a collection of people together, to build these people into a team, to create their positive touching relationship with one another and to trust them with fully applying one another as resources. Status and rank take a back seat.

Cultivation Cultures (PEOPLE/POSSIBILITY oriented) are often cantered around a greater mission. Cultivation Culture is about learning and growing with a sense of purpose. Examples include religious organizations, non-profits, social impact organizations. Leaders remove obstacles that impede attaining the company’s mission. Example – Zappos.

Competence Cultures (COMPANY/POSSIBILITY oriented) are innovative (possibility) and utilize the best talent to bring ideas to bear. Examples: Deloitte, Apple. In a competence culture, being superior or the best is chief. This can mean having the best product, service, process or technology in the marketplace. This culture gains its uniqueness by combining possibility with rationalism. What might be and the logic for getting there are what count.

Fundamental values are knowledge and information. Formalities and emotional considerations are not important compared to proven accomplishment.

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What are the steps of project analysis?

1. Define the project scope: Clearly define the objectives, deliverables, and boundaries of the project. This step helps to establish a clear understanding of what the project aims to achieve.

2. Conduct a feasibility study: Assess the technical, economic, legal, operational, and scheduling feasibility of the project. This step helps to determine if the project is viable and if it aligns with the organization's goals and resources.

3. Gather requirements: Identify the specific needs and expectations of the stakeholders. This involves conducting interviews, workshops, and surveys to gather information about the project requirements.

4. Analyze requirements: Analyze and prioritize the gathered requirements to determine their impact on the project. This step helps to identify potential risks, dependencies, and constraints.

5. Develop a project plan: Create a comprehensive project plan that outlines the project's objectives, timeline, resources, and budget. This plan serves as a roadmap for the project implementation.

6. Identify risks: Identify and evaluate potential risks that may hinder the successful completion of the project. This step involves analyzing both internal and external factors that may impact the project.

7. Perform cost-benefit analysis: Assess the potential costs and benefits of the project to determine its financial viability. This analysis helps stakeholders make informed decisions about the project.

8. Evaluate alternatives: Evaluate different options and approaches to the project to identify the most suitable solution. This step involves comparing the advantages and disadvantages of each alternative.

9. Create a project schedule: Develop a detailed project schedule that outlines the tasks, milestones, and dependencies. This schedule helps to allocate resources and manage the project timeline.

10. Present the analysis: Present the project analysis findings and recommendations to stakeholders. This step involves clearly communicating the project's objectives, benefits, risks, and constraints.

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Strategies for transforming a near-bankrupt company into an industry leader:

- Conduct a 360° financial assessment: Analyze cash flow, liabilities, and revenue streams to identify financial weaknesses and develop a structured turnaround plan.

- Reduce costs by 20-30% through debt restructuring & operational efficiency: Renegotiate loans, cut non-essential expenses, and implement lean management practices to stabilize cash flow

- Revamp business strategy with a 3-5 Year growth plan: Redefine the company’s mission, reposition its market offering, and focus on high-margin revenue streams.

- Strengthen leadership and improve productivity by 30%: Appoint experienced executives, restructure teams, and introduce performance-based incentives to boost employee efficiency.

- Boost operational efficiency by 25-40%: Implement automation, optimize supply chains, and eliminate process bottlenecks to reduce waste and improve output.

- Rebuild customer trust and increase retention by 50%: Enhance service quality, improve product reliability, and engage in proactive customer communication.

- Leverage technology and digital transformation for a 2x competitive edge: Adopt AI, data analytics, and cloud solutions to streamline operations and enhance decision-making.

- Monitor KPIs and adapt with a 90-Day review cycle: regularly track key performance indicators (KPIs), adjust strategies based on market trends, and maintain agility in execution.

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Real Estate Development in Saudi Arabia: A Thriving Sector

Saudi Arabia has been witnessing a remarkable boom in its real estate sector in recent years. The government's efforts to diversify the economy and attract foreign investments have played a significant role in the rapid development of the industry. With a growing population, increasing urbanization, and a strong demand for housing, the real estate market in Saudi Arabia has become one of the most lucrative sectors for investors.

The Kingdom has implemented various initiatives and reforms to stimulate the real estate market. Vision 2030, a comprehensive plan to transform the Saudi economy, has placed a strong emphasis on developing the housing sector to meet the needs of the growing population. The plan aims to increase the rate of homeownership to 70% by 2030, which has led to a surge in construction activities and infrastructure development.

One of the key drivers of the real estate sector in Saudi Arabia is the increasing foreign investment. The government has introduced several policies to attract foreign investors, such as allowing full ownership of real estate properties in certain areas and offering incentives and tax breaks. This has resulted in a significant influx of foreign capital into the market, leading to the development of mega projects and luxurious residential communities.

Furthermore, the government has also focused on developing affordable housing solutions to cater to the needs of low-income individuals and families. Initiatives like the Sakani program have been launched to provide affordable housing units and financial support to eligible citizens. This has not only addressed the housing shortage but has also created employment opportunities and boosted the economy.

The real estate development in Saudi Arabia is not limited to residential properties. The commercial and retail sectors have also witnessed significant growth, with the construction of modern office spaces, shopping malls, and entertainment centers. The Kingdom's ambitious plans to develop tourism and entertainment sectors have further fueled the demand for commercial properties.

In conclusion, the real estate sector in Saudi Arabia is experiencing a period of rapid growth and development. The government's initiatives, foreign investments, and the focus on affordable housing have contributed to the flourishing market. With the continuous efforts to diversify the economy and attract more investments, the real estate sector is poised to play a crucial role in the Kingdom's economic transformation.

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Top Construction Project Challenges:

1. Cost Overruns: Due to inaccurate estimates and scope changes.

2. Schedule Delays: Caused by weather, material delays, and labor shortages.

3. Labor Shortages: Lead to delays and higher costs.

4. Design Errors: Result in rework and increased costs.

5. Regulatory Issues: Cause delays and legal complications.

6. Safety Risks: Lead to injuries and project delays.

7. Environmental Concerns: Require redesigns and delay projects.

8. Supply Chain Disruptions: Delay projects and raise costs.

9. Stakeholder Conflicts: Lead to disputes and delays.

10. Technology Integration: Resistance causes inefficiencies.

11. Risk Management: Poor planning leads to project failures.

12. Quality Control: Results in rework and legal issues.

13. Scope Creep: Causes budget overruns and delays.

14. Communication Breakdown: Leads to mistakes and conflicts.

15. Financial Management: Poor cash flow causes project stoppages.

- Mitigation: Effective planning, communication, risk management, and quality control are essential.

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Why-Versify?

Core businesses are the central, underlying philosophies that guide a business and its employees. All companies try to maintain a strong position in these areas of business so that they remain market leaders. Businesses need to examine the various products/services to determine the ones that complement each other in capital needs, structure, customer base, revenue streams, and manufacturing.

However, with advanced technology and increased competition, businesses must learn to diversify in order to keep up with changing trends as well as expand their clientele. Economies and markets change with time, and a mature organization needs to expand their core functions so that they are able to achieve a new level of growth. It is important to understand that a business core is not static but keeps changing with time.

To diversify is the most challenging decision a company can confront: the rewards and risks can be extraordinary. Success stories abound—think of General Electric, Disney, and 3M—but so do stories of such infamous and costly failures as Quaker Oats’ entry into (and exit from) the fruit juice business with Snapple, and RCA’s forays into computers, carpets, and rental cars.

What makes diversification a particularly capricious, high-stakes game? First, companies usually face the decision in an atmosphere not conducive to thoughtful deliberation. For instance, an attractive organization comes into play, and a competitor is interested in buying it. Or the board of directors strongly urges expanding into new markets. Suddenly, senior managers must synthesize mountains of data—including internal-rate-of-return calculations, market forecasts, and competitive assessments—under intense time pressure. To complicate matters, diversification as a corporate strategy goes in and out of vogue on a regular basis. In other words, there is little conventional wisdom to guide managers as they consider a move that could greatly increase shareholder value or seriously damage it.

When facing the decision to diversify, however, managers need to think not about what their company does but about what it does better than its competitors. In one sense, pinpointing strategic assets is a market-driven approach as it forces an organization to identify how it might add value to an acquired company or in a new market—be it with excellent distribution, creative employees, or superior knowledge about information transfer.

Task in Hand:

Each team must choose a company from the given options. The company is now wanting to diversify into a completely new venture which is unrelated to any business that it currently has its foot in, however, follows its core values. For example, Apple Inc. has proposed to diversify into the automobile sector. You as an external consultancy firm are appointed to prepare the project report and help the company diversify and will be pitching to the board members of your respective company.

Companies:

1. Bluestar

2. VRL Logistics

3. Embassy India

4. Rajesh Exports

5. Suven Pharma

6. Polyplex Corp

Deliverables required but not restricted to:

1. Executive Summary

2. Problem Statement (the problem being solved)

3. New Industry Analysis

4. A New Service/Product Line

5. Business Model/Supply Chain

6. Phase wise implementation plan

7. Strategies to have an edge over competitors

8. A PR Campaign

9. Marketing:

· Phase Wise Marketing Campaign with Unconventional & Conventional Marketing Strategies

· Choose a Brand Ambassador of your choice and justify it

· Detailed STP Analysis

· Video Advertisement

· Print Ads

10. Human Resource:

· HR Allocation Plan & Organizational Structure

· Recruitment Plans for New Employees

· Selection strategies for existing and new employees

· Training Strategies (phase-wise plan)

· New HR Policies

· Changes in Organisational Culture

11. Financials:

· Source of Funds

· Strategies to attract investors

· Initial Budget and Detailed Cost Structure for 5 years

· Sales Forecast, Revenue Avenues and Structure for 5 years

· Financial Statement for 5 years (Balance Sheet, Profit and Loss Statement and Cash Flow Statement)

· Break-Even Analysis and Return on Investment

· Contingency Budget

Submission Details:

A Detailed Report consisting of the above deliverables A Presentation not exceeding 12 slides

Deadline - 5:30am, 21st August 2021

Email: emerge.eh.2021@gmail.com Subject & File Name: Team Name_Task Name

p.s add extra deliverables or we'll cancel you

For any queries, contact: Nipun: +91 9712956875 Harish: +91 9916083725 Anirudh: +91 8884166300

crisis management

this week we learned about crisis management, first we need to understand what a crisis is? well, is an unplanned event that has or may have a significant impact on a company's image and affect operations.

A crisis has different phases:

1. Initial phase (warning phase)

2. acute phase (point of no return)

3. chronic phase (cleaning up the mess)

4. resolution phase (final phase)

5. continuity phase (time to heal the wounds and recover lost ties)

Whenever you are going trough a crisis you must have a management plan and understand that you have to protect in this order:

1. people

2. in the public interest

3. ownership of the company

FOR A GOOD CRISIS MANAGEMENT YOU SHOULD FOLLOW THIS STEPS:

Preparation BEFORE the crisis

Create a crisis management team with the following figures:

plant manager, security manager, communications officer, head of industrial relations, executive legal department and CFO.

Establish principles of operation (hope for the bes and plan for the worst)

Have a spokesperson (they must have presence and good looks and hace the ability to speak under pressure and also extensive knowledge of the business)

Create Policy media relation (communicate with key audiences, the first 24 hours are crucial)

In beauty industry has been a lot of crisis, for examplee when a Hair-product company called SheaMoisture posted it latest campaing has a lot of drama around it, why? because they are a mainly African-American oriented company and in their campaign they used three white women and only one black woman. They needed to act fast, so just a couple hours later the posted in their social media an apology message, starting it with, “Wow, okay—so guys, listen, we really f—ed this one up. Please know that our intention was not—and would never be—to disrespect our community, and as such, we are pulling this piece immediately because it does not represent what we intended to communicate.”

Even though their apology wasn't right for everybody we should acknowledge that they were brave for accepting their mistake and no blaming others, something that not all companies does -mhm pepsi-. Thats the importance of have an spokesperson, even if its digital they must know how to act fast and speak (or write) underpresure, and that's part of a good crisis management plan

Hope you like it,

see u next week

laura