The Role of CREM Culture in Structural Change: An Empirical Study of German Corporates

Maria Günther, Martin Christian Höcker and Andreas Pfnür

ERES from European Real Estate Society (ERES)

Abstract: Megatrends and structural change drivers are creating a highly dynamic corporate environment. Consequently, a transformation of corporate real estate management (CREM) is essential in order to adequately support the company's success in the face of structural change. This transformation encompasses all areas of CREM institutionalisation, especially the CREM organisation. A key component of the CREM organisation is the CREM culture as a subculture of the corporate culture. The CREM culture is dependent on various internal and external factors and has a profound influence on the attitudes and actions of CRE managers and, therefore, also on CREM objectives, strategies and processes. The CREM culture, therefore, has a massive impact on the success of CREM within structural change. The aim of this study is to identify the predominant types of CREM culture in German corporates using explorative statistical methods. For this purpose, a data set with N = 22 participating CRE managers of German corporates is used to analyse the CREM cultures using the Organizational Culture Assessment Instrument (OCAI). Additionally, different company-related contextual factors are examined in order to identify differences in the categorisations and provide explanatory approaches. The results of this study reveal the current stage of CREM's transformation of the CREM organisation and provide information on establishing a ""best fit"" between the core business and CREM in order to enhance its contribution to the company's success. These findings can be used to determine developmental directions and initiatives for the transformation of CREM.

Keywords: Company Success; Corporate real estate management; CREM Culture; Transformation (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
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