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E&Y: Plan to Survive or Plan to Thrive

NEW YORK CITY-Real estate companies globally are rethinking their operations to position their companies for growth, says a new Ernst & Young report.

By Paul Bubny | Updated on October 30, 2009

NEW YORK CITY-Real estate companies globally have put themselves into one of two camps: those that intend to survive the downturn and those that intend to thrive in it. So says Ernst & Young in a new report exploring the steps companies are taking to develop a plan of action, address the risks in their portfolios and operations and position their organizations to grow and compete.

“The global economy may be back from the brink of disaster, but companies do not expect a return to the ‘normal’ conditions we have experienced for much of the previous decade, according to the E&Y report, titled “Lessons from Change.” Across the 14 business sectors E&Y covers, executives have been emphasizing eight key performance objectives. They include: optimizing capital availability and deployment, revitalizing the risk management framework, optimizing operational flexibility, revitalizing their current business models, strengthening stakeholder confidence, optimizing market reach and reinforcing management talent.

Within the real estate sector, increasing capital availability, rethinking current business models and assessing risk management are regarded as especially important, says E&Y. “It is important to review your historic assessment of investment risks to determine how well they corresponded with the actual risks,” the report advises. “Then, you can reevaluate all your risk management policies and procedures.”

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