Introduction
To evaluate businesses, various systems and frameworks are used in order to obtain valuable data and construct qualitative changes. Moreover, market competitiveness requires flexibility and adaptivity from companies. This essay will cover and analyze different aspects of the Coastal Horizon Properties company, which operates in Florida and Indiana in the United States. Primary attention will be paid to possible changes and recommendations according to the McKinsey 7-S Framework. Despite the fact that the chosen company is small and does not have specific departments, it has significant potential to attract more clients while implementing effective and rational approaches.
Description of the Company
To conduct the evaluation, the Coastal Horizon Properties company was chosen. It is a small organization that was founded by the family. As About us (n. d.) states, the company’s mission is “to invest in quality real estate that appreciates and generates a profit” (p. 1). The primary operational regions where the company provides its services are on the coasts of Florida and Indiana (About us, n.d.). Therefore, the specifications of the locations and the nature factor should be considered thoroughly when analyzing the organization and making specific recommendations based on frameworks.
Analysis of Current Company
McKinsey 7-S Framework
To analyze the Coastal Horizon Properties company, it will be essential to implement the McKinsey 7-S Framework (7-S Framework) to evaluate many companies’ sectors and spheres. Notably, this approach assumes the analysis of such factors as:
- Strategy
- Structure
- System
- Skills
- Staff
- Shared values
- Style (Peterson, 2019).
All these options enable one to obtain a comprehensive understanding of the organization’s priorities and characteristics. First, when outlining the strategy of Coastal Horizon Properties, it is essential to note that its primary focus is on developing vacation resorts and enhancing waterfront properties (About us, n.d.). Therefore, the company’s strategy is aimed at finding the most innovative and efficient approaches to enhance these properties, thereby attracting new tourists and clients.
Structure and System
Then, to consider the structure of Coastal Horizon Properties, one can say that every department within a company may have a particular role in property improvement. For example, the marketing department is directly responsible for the communication between properties and visitors. This is crucial because, when searching for real estate or other properties, people tend to look for qualitative and safe houses to buy or invest in (Editorial, 2023). Consequently, when analyzing a company’s strategy and system, it is evident that it lacks specific approaches and departments due to its small size.
Skills, Staff, and Shared Values
In terms of skills and staff points, it is essential to emphasize the need for ongoing training among employees. It is essential to maintain and enhance professional skills, including effective communication with clients. Because Coastal Horizon Properties has a small staff, the current workers demonstrate a significant range of skills, enabling them to manage multiple issues independently.
However, if the organization wants to grow and attract additional clients, it is necessary to develop new approaches that will increase the staff’s skills. For example, Dachner et al. (2021) emphasize the importance of rethinking the value of human capital and continually enhancing its potential (Dachner et al., 2021). As the analysis of the company’s shared values reveals, it is crucial to note that the family’s traditions form the basis of this business.
Recommendations
The primary recommendation for Coastal Horizon Properties is to adjust its approach regarding staff, shared values, and the style of the 7-S Framework. First, hiring new specialists to form appropriate departments will be important. The diversification of duties will not only make the company more effective but also allow it to save time and costs. These costs can be invested in new approaches, such as marketing strategies to attract new clients.
Second, as the recommendation concerning shared values, one should highlight the importance of considering current trends. While implementing green policies aimed at sustainable development, the company can significantly enhance its market position while improving its reputation. To support this argument, it is essential to consider the facts provided by Krosinsky et al. (2018), who emphasize the importance of incorporating sustainable development into all phases of real estate operations (Krosinsky et al., 2018). In addition, many people who care about the environment will be drawn to properties that follow sustainable development approaches. It will also influence another S of the 7-S Framework, which is the company’s style.
One of the key considerations when providing recommendations is ensuring the safety and stability of the company’s coastal properties. Notably, one should mention that this area can have significant devastation due to various factors, such as climate change or natural disasters like ocean storms. Therefore, the recommendation regarding changes in the Coastal Horizon Properties company’s strategy and system is to establish qualitative policies to ensure that all safety measures are followed.
To do this, for example, it can be essential to collaborate with the state’s government. According to Peterson (2019), “with statewide direction on protection and relocation approaches generally defined, states should work with coastal communities to identify response measures” (p. 285). Therefore, it will positively influence two points of the 7-S Framework while implementing qualitative security changes in the company’s strategy and systems. In addition, since all factors of the 7-S Framework are closely interrelated, the final recommendation for Coastal Horizon Properties will be to establish a long-term strategy that incorporates all seven points. Particular attention should be paid to the potential impact of external factors, including pandemics, natural disasters, changes in laws and policies, and political issues.
Conclusion
It is essential to state that various sectors should be explored while considering the company’s position and conducting an analysis. The 7-S Framework is a practical tool that allows one to understand both wide and narrow factors of the organization. Based on the obtained data, it is possible to develop a rational strategy for the company to improve its competitiveness in the market. The researched Coastal Horizon Properties has many opportunities to become better while considering and improving such aspects as strategy, systems, staff, style, values, and others.
Reference List
About Us (n. d.) Coastal Horizon Properties.
Dachner A. et al. (2021) ‘The future of employee development‘, Human Resource Management Review, 31(2).
Editorial, M. (2023). Real estate investment secrets. United Kingdom: Bibliomundi.
Krosinsky, J. et al. (2018). Sustainable real estate: Multidisciplinary approaches to an evolving system. Germany: Springer International Publishing.
Peterson, J. (2019). A new coast: Strategies for responding to devastating storms and rising seas. United Kingdom: Island Press.