Transformation starts here
Over the next two decades we will see big trends converge and turn the world of real estate on its head. To transform – and we mean really transform – we must look at the world, and real estate’s place within it, in a completely new way.
Translating vision into action
In today’s environment disruption is inevitable. The time is therefore ripe to look beyond the next quarter or year end, and envisage a transformative future for business which responds to the trends re-shaping our world.
We need to look beyond current best practice because the way many of us are doing business is at high risk of becoming obsolete. We rely on fossil fuels, complex international supply chains, supportive planning and taxation regimes in an increasingly politically unstable environment, high demand for purchase and rental property, and a society characterised by excessive consumerism.
Despite this challenging reality there are positive trends emerging too, such as off-site modular construction, the internet of energy, zero-carbon homes, radical corporate and state commitments to electric vehicles, and a rise in circular economy initiatives. How does a business ride this wave of change and not be dragged down by it?
Mapping the path ahead
We are experts in developing and implementing market leading sustainability strategies. Over the last 20 years we have used our Sustainability Journey Model © and Hallmarks of Sustainability Leadership ©, backed up by over 230 criteria, to help companies understand not just where they are now, but where they want to be. Many of these clients are now the sector leaders.
Recently, in response to the major trends affecting real estate, we have held collaborative workshops with these leaders and identified six critical areas in which businesses must transform to change today for a sustainable tomorrow.
Over the coming months we will be sharing more detail about how we can help you achieve each of the following steps to transformation. If you are interested in learning more about how to steer away from routine thinking and behaviours, shed ingrained steady-state habits, challenge core assumptions and even business models to ensure future success, sign up below.
6 steps to transformation
- 6. Innovation & R&D
Invest significantly in innovation and R&D to build resilience to external shocks and ensure ongoing business success. Ultimately drive and capitalise on disruption.
- 5. Creative collaborations & partnerships
Partner and collaborate with in-and-out-of-sector organisations to enhance knowledge base, profit from partners' experience, share risk and together achieve an amplified impact. This will ensure that you can adapt quickly and lead the way in transforming your business.
- 4. Skills and mindset
Transition to a fundamentally diverse workforce in terms of background, ethnicity and skills will bring a fresh approach to delivering the company’s strategy and vision from the Board down. This will help you to adapt and capitalise on the megatrends affecting the sector.
- 3. Organisational structure and governance
Restructure to remove siloes; facilitate collaboration and innovation by leveraging the interconnectedness of resources (financial, human and natural). Only by changing internal structures can you really change the way the organisation thinks and be open to disruption.
- 2. Funding and finance
Adopt a finance model that recognises and attributes value to the interdependency of resources (financial, human and natural) required for long term success. This will ensure that you can make the most of alternative financing models, such as green bonds and social venture capital.
- 1. Vision and business model
Establish an integrated business model supported by a long-term strategy that seeks to progress society by fulfilling the needs of people and the environment, ensuring that your business strategy integrates commercial, environmental and social strategies to achieve a competitive advantage.