Case study: Corporate Solutions at JLL
This is the formatting and these are the pointers to be discussed please see below.
1. What advantages and disadvantages does a single point of contact at a service provider have for Bank of America (BofA)? (Please elaborate 1-2 pages)
Advantages (list and elaborate) below are some pointers to discuss
-Centralized and consistent communication with a single provider
-Logistically, this reduces the corporation’s point of contact from 3-4 different firms / individuals (transaction broker, tenant leasing rep, property manager, etc), to a singular individual / firm.
-Significantly speeds up the flow of information and can help to eliminate the risk of miscommunication / improper interpretation of tasks
-Goal of this single POC becoming a partner, rather than someone looking to simply sell more products or services
Based on JLL restructure, new account managers will place a heightened focus on achieving client objectives and providing strategic insight in addition to fulfilling transactions as needed
Disadvantages (list and elaborate) below are some pointers to discuss
-As there is only one point of contact, if said individual is not a high-quality candidate there is a higher chance of losing the account. Further, the same is true if the relationship between this one individual and BofA begins to deteriorate.
-It may be difficult to find a single individual with the skills required to handle all required services: Project development management (36% of revenues), tenant representation (41%), corporate property services (23% of total revenues), transaction advisory, etc.
2. What are the advantages and disadvantages of restructuring Jones Lang LaSalle (JLL) to create a corporate real estate services/account management function? (please elaborate 1-2 pages) below are some pointers to discuss.
-Why should they restructure?
Advantages (list all and elaborate) below are some pointers to discuss
-Potential increase in client retention due to curated services (relationship-based)
Disadvantages (below are some pointers to discuss)
-There is resistance internally (within departments) to change. Divisions were not specifically opposed to the change, however, it seems there is a sense of complacency that has formed around current operations.
-Departments previously had ownership of their clients. A risk exists that when these clients are shared with other departments, the relationships may crumble
-Less autonomy may exist post-restructuring for each business department