Why real estate needs agility to survive
“Nothing in life is to be feared; it is only to be understood,” — Marie Curie
Agility is an organizational strategy most commonly used for rapidly changing business environments. Organizational agility is the ability to thrive in ambiguous environments, being able to adapt, have flexibility and drive balance over the long term. McKinsey & Company surveyed 2,500 business leaders about business agility and found that seventy-five (75%) percent have organizational agility as a top-priority; all needing to work in agile ways (this is a 50% percent increase from what companies currently do). Given the constant tension of technological change, agile, flexible ways of working are driving a secular shift in the office market that will not slow anytime soon.
“Agile, flexible ways of working are driving a secular shift in the office market that will not slow anytime soon.”
Real estate is a legacy industry that changes at glacial speed; and glaciers are melting faster today. Capital intensive industries like real estate (e.g. auto manufacturing, telecom, railways, airlines) have a lot of money tied up in facilities and infrastructure. These industries also have longer product development cycles that make…
