Research on Functions of Corporate Real Estate in Business Administration and Development of CRE management model

点击翻译按钮获取中文摘要

CRE is an acronym for Corporate Real Estate, which means real estate utilized by corporations. "Utilized" in this case means owned or leased by the corporation in question and used for core business or investment. In Japan, the term "CRE" did not come to be used until the mid-2000s, but before that, many managers had already recognized that real estate (especially land) is one of the most essential business resources. The problem seems to lie in the fact that Japanese executives do not understand CRE management. Recently, Japanese CRE management has made considerable progress in terms of both quality and quantity, and many books, papers, guidelines, and case reports on CRE management have been published. In particular, overseas findings have been imported into Japan. However, it seems that Japanese CRE management research goes off in somewhat different directions. The main purpose of this research is to explain the characteristics and problems of Japanese CRE management. The principal CRE management in Japan is categorized as cost reduction, workplace strategy, and portfolio optimization. These strategies are separate from each other. In addition, it is discussed that ICT, as well as a dedicated department staffed with qualified CRE management personnel are needed in order to manage CRE adequately. However, because some CEOs misunderstand these and believe that such will be an excessive strain on their business resources, some CEOs are led to abandon the practice of CRE management. Due to these reasons, CRE management is not really prevalent in Japan. In fact, CRE management takes many and varied forms, but it seems that some methods apply to all cases in Japan. Each corporation needs to formulate its own CRE management by itself. Through this process, a more intelligent theoretical framework is expected to develop.