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Case Study 4: Real Estate Sector & Family Owned Business: Real Estate Broking firm: Creating Possibility to grow while maintaining family values
The real estate broking in India has been largely pop and mom concern except for a small segment served by International property consultants (IPC) that to largely corporates and high net-worth individuals. The client organization has been in the business of real estate broking services for more than two decades with multiple offices manned by close friends and relatives.
The client organization wanted to expand its reach in terms of market served and services offered. The mandate to KSMC was to assist in evaluating appropriate business model and draw business plan for the organization.
KSMC did a review of the present business model of the organization and did an extensive interaction with the team members to understand the alignment of the people, process and system with overall organizational goals. In addition to the internal review of the organization the consulting process understood the industry structure and power dynamics of various stakeholders to come up with possible scenarios to validate the proposed business model for the organization.
The outcome of the exercise involved getting the people to align with the vision of the organization. The second area was to get process in place and adopt technology as the binder to scale the business operations of the organization as data base management is the key to the real estate broking business. The consulting process developed simple people management system matching the organizational size to induct professionals for the growth planned. Finally it was ingrained as DNA to adopt new business metrics to evaluate the performance by the leaders of the organization. Now, the organization is ready to look at its distribution model to engage with business partners for multicity operations.