1 / 15

Republic Property Group

Republic Property Group. Background. Based out of Dallas, Texas Acquires and fully develops real estate properties Has successfully developed and is developing various quality communities since 1967 Has been developing master-planned communities exclusively since the mid-1980s

nuala
Download Presentation

Republic Property Group

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Republic Property Group

  2. Background • Based out of Dallas, Texas • Acquires and fully develops real estate properties • Has successfully developed and is developing various quality communities since 1967 • Has been developing master-planned communities exclusively since the mid-1980s • Current projects include Lantana, Phillips Creek Ranch, and Light Farms

  3. Structure • 2 senior partners • 2 junior partners • CFO • Management and staff level employees • Legal department • Accounting department • Marketing department • Construction • 30 employees total

  4. Formal Organization • Team orientated • Goal orientated • Non- bureaucratic approach • Flat structure • RPG has an archaic IS

  5. Organizational Culture • Though RPG does not have a current mission or values set in place, management shows their values through leading by example. • No formal mission and values currently in place. • Values are displayed through daily interactions and by the leadership of senior and junior partners.

  6. Critical Tasks • The critical tasks are centralized around development of their current projects and acquiring new ones by developing, building, and maintaining projects

  7. Challenges in Managing Rapid Growth • Lantana a master-planned community that is still developing • Acquired two new projects – Light Farms in 2007 and Phillips Creek Ranch in 2008. • With the expansions of projects, the company in effect has tripled in size. • The real estate market is turning around and RPG is developing these three projects, which has transformed the company from having one project, to one of the largest developers in the market.

  8. Rapid Growth Insert Harlem Shake video

  9. Challenges in Managing and Executive Succesion • There are two senior partners and two junior partners. • The 2 senior partners are in their late 60’s and no longer work the same schedule. • More responsibility on the junior partners to run the company day to day. • Tony and Jake are both in our early 30’s and don’t have the experience of the senior partners. • Junior partners have been at the company for 7 to 8 years and have been trained for this position over that time.

  10. Executive Succesion Cartoons

  11. Changes to Implement for Rapid Growth • Increase communication between the varying departments, allowing marketing and construction to become synced up. Possibly create a task force to communicate and oversee proper synchronization of times and tasks between the departments (especially marketing and construction). • Communicate the necessity of changing the information systems to IT management and task them with trying to find an IS that would be cost efficient and allow ease of training for current employees. • A set of missions and values guides current and potential employees. Formulating and instating a mission and values will assist in the acquisition of new employees, and allow HR to verify if prospects are the right person-job/organization fit.

  12. Changes to Implement for Executive Succesion • Junior partners may be taking on too much work with overseeing all properties and projects. • Suggest a project manager or upper level manager to handle overseeing the projects, and to lighten the junior/senior partner’s loads, allowing focus to shift to the transition of executive management. • Moving the overseeing of projects may allow time for senior partners to confer with junior partners. This could allow the senior partners to start shifting some of the daily decisions to junior partners, furthering the transition and employee recognition of junior partners.

  13. Constraints of Changes for Rapid Growth • The cost of implementing a new information system software. • Resistance from employees of learning a new information system software. • Employees’ opinions about compensation and rewards regarding broadening responsibilities in order to successfully develop and maintain new projects. • Conflict of goals between different departments; one department significantly impeding on the progress of another department.

  14. Constraint of Changes for Managing Executive Succesion • Decisions and directions of junior partners are not aligned with the “informal” culture and values at RPG. • Junior partners want more autonomy in regards to the direction of RPG, but senior partners want to maintain control of executive decisions while taking a back seat role to the workload. • Long-term employees at RPG respect the authority of senior partners more than junior partners. • Also, there could be anxiety and fear of employees from possible leadership decisions of new top executives.

  15. Conclusion

More Related