Strategic Analysis of Assistant Managers Position in a Real Estate Company - Case Study Example

Strategic Analysis of My Job - Assistant Manager in a Real Estate Company

Introduction

In this study, I will provide the analysis of my job as an assistant manager in our family real estate business in China. The aim of the study is to demonstrate the strategies I will utilize from my career in business management to promote business growth through rigorous marketing, expansion of services, attracting and retaining clients and fostering the growth of company’s revenue to help the business achieve its vision and strategies. The real estate industry in China is dominated by private, public and state-owned investors. Before the 2008/9 financial mayhem, China had one of the rapidly growing and most lucrative real estate industries in the world with the development of new properties taking place in the major cities like Beijing (Cao 323). However, currently experiencing slow growth and has not recovered fully since 2008/9 global economic crisis. This industry is highly competitive with each player focusing on offering their clients products and services of high quality at a competitive price. I, therefore, intend to exercise my expertise to achieve exceptional performance in this industry.

Industry Background

The Chinese government is tightening the requirements for operating a real estate business in a bid to minimize the price bubbles following the IMF warning in 2014 of a possible challenge of oversupply in the real estate (Cao 324). The government measures resulted in slowed growth, but since then it has started reversing the measures to increase the demand for properties. For instance, the government is reducing down payments for mortgages, reducing taxes on home sales, promoting the purchase of properties and reducing the sales of land for development of new projects. This implies the real estate industry has great potential, but due to the high competition, it is facing currently there is a need for new strategies from the management perspective to get the organization to the desired level.

Career Background

My major is business management and after the studies, I intend to work as an assistant manager in our family real estate business established in China. The role of an assistant manager in a real estate business entails assisting the senior manager in business operations. The assistant manager involved in day-to-day operations of the business as well as developing long terms goals and strategies of the organization to achieve better performance. They interact with other employees, customers, suppliers and other organizational stakeholders. As part of organizational growth strategies the assistant manager is involved in acquisitions of new properties, supervision of developments activities or repair and maintenance, dealing with employees either directly or through supervisors, meeting the clients or tenants, planning the promotional activities, etc. (Palm 4). Additionally, the assistant manager is responsible for updating the manager of the current trend in the real estate industry such as the emerging environmental regulations and so on. They ensure the business is equipped with the right staff to get the organization to its desired level. To achieve this goal the assistant manager undertakes the responsibility of recruiting new competent staff and briefing them about the organizational culture and policies and other relevant issues about their jobs and the organization. Therefore, the assistant manager must have competence in strategic management to coordinate the organizational resources to achieve customer satisfaction and business growth.

Acquiring Property and Clients

One of business strategy is achieved client growth through acquiring and retaining new clients as well and fostering business expansion through purchasing or developing new property. The clients in a real business are mainly tenants engaged in a long-term relationship. Studies have shown that the cost of acquiring a new client in a real estate business can be very overwhelming compared to the cost of retaining the existing clients (Buttle and Maklan 60). Furthermore, it is very costly for the property owner to maintain a vacant building or part of the building which is not a very unusual phenomenon in the real estate business. The clients are always cautious to avoid acquiring or making a contract with a company where that offer poor customer services because of the high cost of switching the company. Therefore, the business must develop strategies to win clients loyalty for the long-term relationship by enhancing the rate of customer satisfaction (Palm 6). Also, the company must ensure they have appropriate property and services to meet the clients’ expectation or value for money. My career in business management major involves developing strategies to serve the clients better and manage business resources. Therefore I will be involved in meeting and acquire new clients and property for the business to help achieve its goals.

Supervision of the Employees

The success of a real estate business hinges on the efficiency of staff responsible for handling clients and implementing other organizational goals. So the organizational strategy is to have a competent and adequate staff to carry out the organization functions. In line with this organizational goals, therefore, I will be responsible for supervising the staff on their day-to-day activities and reviewing their daily reports to assess their performance and provide them with appropriate support to improve their performance (Palm 7). My strategy will be to ensure the organization goals, strategies, and their activities are in pursuant to the business plans. The assistant manager inculcates good leadership skills through enhancing communication and team building. Having the right leadership in place ensures flat management structures and makes the staff identify with the organization. In this regard, my strategy will be ensuring there is effective communication by shorting the chain of command to increase efficiency in communication. Also, I will encourage teamwork to ease the transfer of knowledge within the organization and enhance problem-solving.

Marketing Strategy

Another organizational strategy in a real estate business involves creating brand visibility to enhance sales. The assistant manager has the responsibility to assist the general manager in developing marketing strategies. Evidently, every organization must of strategies to expand the market through acquiring new clients, developing new products for the existing market or reducing prices to increase demand (Cao 327). It is possible that every organization has marketing strategies, but as time passes by those strategies becomes inefficient thus calling for a change of strategy. The assistant manager should assist the general manager to develop new marketing strategies or improve the existing strategies to match the changing market trend.

Budgeting Strategies

Also, the real estate business derives its revenue from efficient use of resources. Their strategy is to create a budget that allocates the business resources efficiently taking into consideration of all the requirements of various departments and personnel (Palm 11). Therefore, as an assistant manager, it will be my responsibility to assist the senior manager in making the organization budget. My strategy is to ensure the organizational resources are utilized efficiently in line with its goals and strategies. Through the efficient allocation of business resources, I will ensure the company minimizes wastages and maximizes revenue. My skills and competence as a qualified business manager will ensure all finances are provided to the respective departments and personnel in time and utilized effectively to avoid unnecessary losses due to poor management of funds or lost opportunity as a result of the inadequate allocation of resources for the new project.

Scheduling of Repairs and Maintenance

Moreover, the real estate business is continuously involved in the scheduling of maintenance activities. This includes replacement or repair of the worn-out and obsolete facilities and to suit the needs of the tenant. The business aims at ensuring the property are in good condition all the time to suit the clients’ needs (Cao 325). The assistant manager has the responsibility to coordinate with the repairperson to ensure the faulty equipment are replaced or repaired on time without inconveniencing the clients.

Reviewing of rents, lease agreements and rules/laws

The real estate businesses have strategic goals of ensuring the rents and lease agreements are up-to-date. Also, there are many laws affecting the industry including the environmental regulations and laws of business contracts. The assistant manager is responsible for reviewing the relevant documents to ensure the organization is operating within the current legal framework (Palm 13). As a business management graduate, I will be fully equipped with relevant skills relating to real estate business to assist the general manager to achieve these business strategies.

Maintenance of Organizational Records

Finally, the real estate business just like any other organization must always maintain appropriate records of all the transactions, the property it owes, the clients and staff files, etc. This ensures every property or expenses are accounted for and that in the case of any claim raised by the organization by either a client of the employee is handled in an orthodox manner without putting the organization an in awkward situation (Buttle and Maklan 353). Therefore, as the assistant manager, it is my responsibility to maintain all relevant records about the organization for effective administration.

Conclusion

The real estate manager has a significant role in ensuring the success of the business. They have strategic functions of planning, organizing, coordinating, directing, staffing and controlling business activities to maximize rental income which the main source of business revenue. The organizational strategies are classified as short-term and long-term for ease of administration. However, the manager works closely with assistant manager to design and implement the organizational strategies for effective performance. Therefore, assistant manager assists the managers in the application of strategies such as improving the relationship with customers, marketing, expanding business through the acquisition of new property, reviewing organizational policies, preparing a budget and complying with rules and regulations governing the real estate industry.