Reconceptualising CREM Alignment to Account for Waste

Abstract

Every business needs a place to operate. The management of corporate operational assets is called Corporate Real Estate Management (CREM). In the era of sustainability, smart use of real estate as the second-largest asset of corporations is needed. The purpose of the paper is to reconceptualise CREM alignment to feature the waste concept in smart use of CRE resources. This research is limited to the conceptual analysis of CREM alignment. The reasoning is based on integrative literature review. In general management theories, alignment is divided between vertical and horizontal alignments within and across organisations. In CREM literature, vertical alignment within an organisation is dominant while horizontal alignment within an organisation and across organisations has gained minimal attention. The conceptual analysis indicates that there is plenty of waste in CREM. Lean aligns especially horizontally and offers a way for smart alignment, i.e., a smart use of CRE resources including not only the use of materials and energy but also the use of human resources with their social capital.