Change Management in the Realty Industry

Organization and Change

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Prabhakar Jadhav

Change Management in the Realty Industry

How would you initiate change [management] in the construction industry which generally does not have strategic plans, there are delays in every activity and cost overruns are a way of life.

  Jeswan SinghPS
Engineer, Malaysia
 

Real Estate/Construction Industry

The strategic plans have to be there although I agree that economic and competitive events can overtake reality. The uncertainity is manageable with big projects that are at least of 3 to 4 yr duration. During this period the business scenario can recover. Pro generally should commence during a downturn so that one can benefit from the upturn.

  Joseph Cole
Consultant, Canada
 

CM in Real Estate

Your question is very provocative Prabhakar, and as I respond more thoughts enter my mind. Allow me to suggest that changing the 'industry' is too broad a mandate. After all your question defaults to a common belief and cultural mindset... 'cost overruns are a way of life'.
The first question I have is ...Do you have a sponser who is willing to invest in making changes? Consider the Beckhard Change Equation as a starting point. Then find a champion, perhaps a government agent, or near-leading company wishing to be a champion, and build from there.
After all -- there is no greater inducement to change than competitors who see what is working for someone else, and they want to emulate it. Good luck.

  R Hallagan
Management Consultant, United States
 

Change Management in the Realty Industry

It depends on what the change agenda is (I assume (...)

  shobha H
Student (Other), United Kingdom
 

Change Transformations Due to Technology Advancement in Financial Sector

To what extent the fusion of IT Strategy with busi (...)

  Jaap de Jonge
Editor, Netherlands
 

Fusion of IT Strategy with Business Strategy

@Shobha H: The issue you are indicating is known a (...)

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