Challenges of strategic corporate real estate management in Ghana

Abstract

PurposeResearch shows that strategic corporate real estate management (SCREM) practice contributes to organizational performance. However, globally, SCREM practice is hindered by numerous challenges especially in developing countries such as Ghana. This study examines the challenges of SCREM practice in Ghana from business and corporate real estate managers’ perspectives.Design/methodology/approachA mixed-method design was adopted for the study. The largely quantitative study was supported with qualitative data. The multi-stage sampling technique was used to select respondents from 35 institutions in five sectors. The relative importance index, consensus/agreement framework and Mann–Whitney U test were used for analysis.FindingsAnalysis revealed that there is latent resistance to the provision of CRE policy, adequate authority and resources as well as resistance to change in organizational culture for the adoption of SCREM practice. The CRE management function is thus not well integrated into corporate activities. It is seen as a non-core organizational function merely providing physical space and support services.Practical implicationsThe research has identified the challenges of SCREM and how these could be addressed to ensure that CRE is managed strategically to contribute effectively to organizational performance.Originality/valueThe paper is the first to identify the challenges of SCREM practice from business and CRE managers’ perspective in five sectors in Ghana, thus contributing to the limited literature on the subject globally.

Content validation of value-adding indicators for corporate real estate management: insights from a developing country

“…Moreover, rising operational cost of buildings, energy economics and the quest to fulfil employee and client satisfaction have been contemporary issues of discussion highlighting the prominence of corporate real estate to the organization (Amos, 2021; Amos et al , 2021a). Strategic management of corporate real estate would provide efficient and functional work environment to meet today’s business challenges and indirectly enhance productivity, revenue growth and profitability (Lindholm and Leväinen, 2006; Boakye-Agyeman et al , 2021). In spite of the importance of corporate real estate to organizational performance, many still do not recognize its strategic importance and considers real estate as cost centre with focus on minimizing cost and reducing long-term financial exposure (Gibler and Lindholm, 2012).…”