Friction and Inertia: Business Change, Corporate Real Estate Portfolios and the U.K. Office Market
It has been asserted that business reorganization and new working practices are transforming the nature of demand for business space. Downsizing, delayering, business process re-engineering and associated initiatives alter the amount, type and location of space required by firms. The literature has neglected the impact of real estate market structures on the ability of organizations to implement these new organizational forms or contemporary working practices successfully. Drawing from research in the United Kingdom, the article demonstrates that, while new working practices are widespread, their impact on the corporate real estate portfolio is less dramatic than often supposed. In part, this is attributed to inflexibility in market structures, which constrains the supply of appropriate space.
Volume (Year): 22 (2001)
Issue (Month): 1/2 ()
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- Hugh O. Nourse & Stephen E. Roulac & Stellan Lundstrom, 1993. "Linking Real Estate Decisions to Corporate Strategy," Journal of Real Estate Research, American Real Estate Society, vol. 8(4), pages 475-494.
- J H Dunning & G Norman, 1983. "The theory of the multinational enterprise: an application to multinational office location," Environment and Planning A, Pion Ltd, London, vol. 15(5), pages 675-692, May.
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