PLC e-Portfolio Part 7: Control System Design

Commercial Real Estate by Nick Youngson CC BY-SA 3.0 Alpha Stock Images
Commercial Real Estate by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

The company I chose for this task is again Viviendas y Proyectos S.A., which I wrote about in PLC 5.

It should be remembered that V&P is a family company, located in the city of Medellín, Colombia, founded about 30 years ago and with more than 50 collaborators. Its main activity is the development of real estate projects. Its main objectives, in addition to generating profit for its partners, is to improve project management and they plan to create a commercial real estate leasing department. The organizational structure of the company is represented by a general management, a commercial management, an administrative and financial manager, and 3 project managers. Below the management area are the sales and processing teams for each project, as well as personnel for different administrative tasks of the company.

Regarding the V&P objectives of generating profits, improving project management and creating a commercial real estate leasing department, we can implement the following organizational control systems:

Control of results to generate profits:

The control of results is relevant for any type of company since it allows for evaluating the performance and the achievement of the objectives. Since V&P is a private company and its main objective is to generate profits, it must establish clear indicators and goals to mainly measure success in terms of sales and profitability. By monitoring the progress and results achieved, the company can identify areas for improvement and take corrective measures if necessary.

Results control for project management:

As for generating profits, control of results is important to keep track of the management of each project in each of its stages and its results over time. The company is implementing an ERP system, with which it plans to control each of the stages of its projects, from the purchase of the lot, through legal issues, licenses, sales, deliveries to customers and closing. All these controls were previously done in simple spreadsheets with the risk that this implied due to the ease of making mistakes. Now it is expected that the Management can know in real time the current status and future projections, to make decisions in a timely manner. Monitoring results can also encourage employees to strive to achieve specific goals and objectives, fostering a culture of performance and responsibility.

Behavioral control for the creation of the rental department of commercial real estate:

Behavioral control is adequate to implement the creation of the commercial real estate rental department since the new department focuses on customer service and providing comprehensive solutions. Therefore, it is essential that employees have service-oriented behavior and are committed to customer satisfaction. Behavioral control is achieved through effective communication, training and development of personnel, and the promotion of an organizational culture based on company values. This will help ensure that employees are actively involved in achieving set goals, providing quality service, and aligning with the company vision.


References:

Edwards, J. (2014). Creating organizational control systems. In Mastering Strategic Management - 1st Canadian Edition. BCcampus.

Youngson, N. (n.d.). Commercial Real Estate. Picpedia.Org. https://www.picpedia.org/highway-signs/c/commercial-real-estate.html



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