State of the Industry Report 2007-2008

Chapter Thirteen enterprIse leadershIp/strategIC CompetenCIes Corporate real estate executives need a skill set that includes but exceeds real estate the same way that CoreNet Global’s CoRE 2010 research predicted five years ago about the emergence of the so-called “enterprise skill set.” Today’s CRE professional is “not the typical solider,” as one executive for a global financial institution observed during a 2007 CoreNet Global Discovery Forum. here’s what Core 2010 said would happen: • “The primary function of the CRE leader, or workplace strategist, in 2010 will be to manage a complex, global network of internal and external resources – and provide real-time solutions.” • Although it will still be important to know the fundamentals of CRE, tomorrow’s executive must also be a well-rounded business person skilled at thinking strategically and cross-functionally with the breadth and depth of general management skills required of other business leaders within the company. what will it look like by 2010? • As predicted in CoRE 2010, “Over time, the focus of the internal corporate real estate staff will continue to shift to strategy and (business unit) customer relationship management even as new skills will be required for senior corporate real estate and infrastructure leaders in 2010.” • Add the ability to manage outsourcing, supply chains, alliances with partners, strategic planning, technology integration, finance and other skills to the list as it’s developing today, and the CoRE 2010 benchmark on the Enterprise Leadership skill set four years ago will advance. • Whether or not the role of CRE will “drive the infrastructure model for the business” in full by 2010 as projected, remains to be seen, especially from the view of partnering and integrating more with the hr function. • Could energy management, and thus sustainability, represent another type of integration opportunity, serving as a ‘wedge issue’ that invariably pulls in the involvement of HR and certainly technology? • The need for top-down support to drive the organization’s ‘buy in’ of energy conservation and other sustainable practices could be another plus for Cre. beyond 2010: • hybrid may best describe the type of talent that effective CRE executives need to possess to advance their careers. • It’s a noteworthy outcome of another transformation cited within CoRE 2010: the shift away from land, labor and capital to intellectual capital as the key asset of today’s enterprise. possIble outCome CRE executives may be falling short in CoRE 2010 skill sets like IRIS, but they are still poised to build and maintain leadership roles in multiple disciplines. In the area of strategic competency itself, it’s a work in progress, as we’re seeing with our own industry response to the talent issue, for example. chapter thirteen here’s where we are today: • CoRE 2010 foresaw that the so-called globally networked enterprise would tip the industry’s playing field for skill sets. • The new standard for talent would incorporate CRE skills but extend to a broader set of business and enterprise management skills • Largely through alternative workplace practices, solutions delivery, portfolio optimization and the use of technology, CRE is ahead of the 2010 skill-set adoption curve. • But it’s lagging in terms of integrated resources management, or IRIS, on the other hand. State of the Industry 2007-2008 52 http://www2.corenetglobal.org/home/index.vsp http://www2.corenetglobal.org/dotCMS/kcoSearch?search_type=advanced_search&keyword=keywords&search_field=talent&kwPublicationMonth=-1&kwPublicationYear=-1

Table of Contents Feed for the Digital Edition of State of the Industry Report 2007-2008

State of the Industry Report 2007-2008 Contents Chapter 1: Introduction : CoRE 2010 Framework and Report Structure Chapter 2: The Changing Business Environment Chapter 3: Executive Summary of Key Findings and Conclusions Chapter 4: CoRE 2010 Adoption Rate Chapter 5: Sustainability/Corporate Social Responsibility Chapter 6: Global Sustainability Survey and Roundtable Findings Chapter 7: Workplace Practices/Work Environments Chapter 8: Workplace Related Issue: The War for Talent Chapter 9: Asset Management/Portfolio Optimization Chapter 10: Solutions Delivery Chapter 11: Location Strategies/The Strategic Role of Place Chapter 12: Location Related Issue: Site Selection Morphs to Portfolio Alignment Chapter 13: Strategic Competencies/Enterprise Leadership Skills Chapter 14: Competencies Related Issue: The War for Talent in Corporate Real Estate (CRE) Chapter 15: Integrated Resources Infrastructure Solutions – IRIS Chapter 16: Technology and the Web Chapter 17: Technology Related Issue: Removing the Obstacles to Industry Data Standards Acknowledgements and Sources

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