Managing the Principal of eBusiness

This article discusses the importance of digital transformation in real estate and how it can help organizations improve their efficiency and customer experience. It evaluates the organization's digital transformation efforts and provides recommendations for progressing digital transformation. The subject is eBusiness and the course code is not mentioned. The article is relevant for students studying business, management, and real estate. The college/university is not mentioned.

Managing The Principal Of E-
business

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
Evaluation of organization’s digital transformation efforts ........................................................3
Recommendations for progressing digital transformation...........................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Digital transformation is the adoption of technology by companies. It could keep the
common goals for implementation to improve the efficiency, innovation or value. The process
for using digital technology that create new or modifying existing culture, customer experience,
meet changes in business, market requirement, business process and so on. Savills plc is global
real estate, which provides the consulting services and advice such as, environmental
consultancy, landlord and tenant planning, research, building consultancy, project management
and so on.
MAIN BODY 221
Industry overview
Porter five forces is the holistic strategy framework which look the decision away from
the analysing the present competition. Manager to real estate investor that make the use of porter
five forces and help them to explore the profitable opportunities in whole financial sector:
Threats of new entrants-
New entrants for real estate industry can have more innovation and put pressure on real
estate through lower pricing strategies, reduction reimbursement and supply new value to their
customer. While the industry need to manage their all challenges and build the effective barriers
to safeguard about competing bound.
Bargaining power of suppliers-
The companies in real estate industry which buys their raw substantial from many
suppliers. Along with this that suppliers is dominant position which can decrease the margins of
real estate industry in market (Elnably and et.al., 2020). The overall impacts of higher suppliers
is that it will bargain gross gain of industry.
Bargaining power of buyers-
Buyers which offers lots of demanding, and they also want to buy the best offering
available by paying with minimum price as they are being possible. This put pressure towards
the real estate industry for keeping their long run profitability and make their powerful customer
base to industry with the higher bargaining power of customer and seeking to increase the
discounts and offers.
Threats of substitute products and services-

When any new products and services meets with similar customer requirement in various
ways and industry that profitability suffers. It could also offer the high value preposition that
might be unique different from present offering of the industry. Moreover, by increasing the
switching cost for the customer.
Rivalry competition-
It is among the existing players of industry which intense for working with down process
and decrease overall profitability (Labrador Rengel, 2021). This can work with low value
preposition and operates in very competitive industry.
Evaluation of organization’s digital transformation efforts
Digital transformation is the up-dation of existing process or the introduction of some
new ways that carrying out business activities with using digital technology that enhance the
customer experience and leads with high conversion rates for the company. Digitalization of the
Savills organization is expected for accelerate covid-19, even more conservative sector that have
been resisting it so far. However, they are being quite instance with digital technology in house-
buying experience while boosting the operational efficiency for real estate brokers (Nadkarni and
Prügl, 2021). The efforts that the organization can make towards the digital transformation and it
is also important with few reasons-:change in how customer search for housing, the best benefits
of digital change which keep the powerful and strong marketing strategy to capture majority of
possible, in using cyberspace to search for their approaching purchases and that will also help for
moving ahead with competition. Changes in customer demands, the majority of sellers and
buyers that carry out broad in searching online before selling or purchasing the property offline.
Digital transformation have change the way of real estate agents used for their work.
While talking with buyers the property tour offline and online, realtor's which save the lots of
money and efforts. In using digitalization, various number of potential buyers can see their same
property at the same time. Savills have also hired the best employee, with having their best
working practice in technology. That could help their organization for developing more online
apps and ensure them for working with some experience among their customer. The company
need to involve the digital transformation for having optimizing process and making the use of
workflows, easier, and faster (Albukhitan, 2020). Instead, of spending hours in processing
paperwork, this could create the digital workflow which increase efficiency and also allow
employee for keep focus on various activities. Digital transformation in organization that can

help for developing the used to record contract digitally and terms with sign contract, running on
blockchain technology. Because, the business involves the large amount of significant
transaction, smart contract which are useful in protection against fraud, lower overall costs and
so on.
Digital transformation that can efforts for increasing in solution that can simply the
management in company and obtain insights property data. Moreover, this designed to work
together and achieve the smart devices for the organization. In present time, buyer and sellers
prefer to meet the real estate agents online. They have become more initial research online for
finding the best realtor's as they are required. The digital transformation world which provides
them with all information as they are required for buying or selling property (Almaazmi and
et.al., 2020). Digital transformation trends in organization while by using CRM software, which
play the integral part in customer agent relationship and helps the business to interact with new
leads, even some existing customer for keeping all information about from buying history. The
company that can effectively work towards the blockchain streamline transaction by removing
the affiliate costs such as lender charge, legal fees, closing costs etc. Drones, Savills real estate
business which have the agents, brokers and commercial that can make use of drones to capture
the imagery of properties (Rothstein, 2021). Drones can make proper use in such things:
marketing purpose, correspondence about the property for commercial tenants, likely for inspect
structure before leasing, inspection about construction.
Recommendations for progressing digital transformation
Digital transformation is the process in which the use of digital technology for improving
operation, customer experiences and working on organizational culture. Digital transformation
which help the organisation for solving the complex problem, reducing cost, changing business
requirement, increasing efficiency and so on, it is also helpful in pandemic that have speed and
scope for developing digital transformation. The organisation which needed to adopt the changes
will benefits and survive with having the rest continually loses out (Li, 2020). Savills real estate
which always facing tough obstacles towards the succession including budget, culture change,
lack of vision, strategy etc. here are some recommendation or strategy for digital transformation:
unlock data, it is foundation of digital transformation which help for captured and producing that
even before. This also keeps Savills organization for unlocking the opportunities of data that

starts with collecting accurate and reliable data purpose through having the authorizing and
having the right way to users the process to access.
As organization will also look for having new ideas and evaluate existing ones by
themselves. While having such things this could also have the benefits for the customer for
taking their business advantage and helps for improving goal and objective. For example,
operation metrics and events that coming in organization data or equipment sensors can be
modelled or semi-structure or structure, usually sensitive and require frequent into an optimized
database (Baiyere, Salmela and Tapanainen, 2020). It is also unlikely to be having all require
resource available through internally, but it also becomes the bigger challenges when talking
more about new technology in organization. This concern must be addressed at all level from the
beginning while by applying industry standards and keep their best working practices. If only,
tool for data that might be having the extremely restricted access, about for being data-driven
organisation.
As a result for challenge the company with having entire business not only limited for
technology department. Therefore, to overcome resistance digital transformation efforts, the
business need to keep their working activities through using online sector and also ensure for
working within social media platform. The organization also require for determining about
stakeholder properly ensuring more staff from the across organization have voice. (Erol, Mendi
and Doğan, 2020) The key digital transformation in real estate that can make company are
offering products and services in the following area:
Augmented reality- Company need to help for looking out the property would like to have
through virtual tours. The mobile app can be also launched in providing the VR goggles to show
flats so that can improve the customer engagements.
Building information modelling- organization need to keep their focus on an intelligent 3D
model that is based on the process of engineering, construction and architecture and tools to
more design, construct, more efficiently and managing infrastructure and building.
Apps that facilitate the property search- The key transformation is being where the customer
are and due to increasing more interest in mobile application. Real estate business should
consider more about for developing mobile apps to reach out their customer. With the help of
mobile app platforms, property owner and buyer can have more access to all information which
are necessary for property.

Artificial intelligence- The organization that can make the use of automate several manual such
as digital marketing, customer service, property inspection and invoice processing etc. Savills
business that can also make the use of software or outreach to their potential customer for
collecting data from customer in making prediction about the market condition, investment
perspective and so on (THE SAVILLS, 2021).
The organization can make the proper use of digital transformation which seems to be
important in business and to remain competitive in increasing competition, along with this try to
explore the new structuring option and improve the operational performance (Konashevych,
2020). Changes in customer behaviour and expectation, the way in which people can search for
property and prefer mobile or web search rather than going to real estate brokers. The
organization which needs to work more towards the digital transformation through which they
can easily make their huge customer and make sure for using the h-tech technology. Therefore,
Savills business that could create the powerful online services means losing their chance to
connect with their interesting sellers and buyers (Fields and Rogers, 2021). Change in
technology, with having implementation of using digital technology such as automation, through
which company can improve their operational efficiencies. The company that can make the
adoption of digital technology, such as developer, agents, investors, manager and culture changes
to meet with their customer demands.
Savills organization can also use the real estate apps, smart property management and
also keep the affordable mobile technology. There are many mobile application that allow their
customer for buying their property and stay in touch around them. On the other hand, it can use
for making the prediction to better market condition, property investment or buyer price or
perspectives. Savills organization can develop their real estate software solution and CRM tools
for having better resources, staff as well as better document administration and this can be access
anytime from anywhere (Kirchschlaeger, 2021). To succeed in business, Savills should analyse
their potential customer, staff, regulator etc. where machine learning and AI in business which
help to analyse and interpret the information that have been collected to good use. They can also
make the use of cloud property management software solution, that have become increasingly
popular among digital real estate trends and ensure for keeping their property information and
financial data secure.

CONCLUSION
From the above report it had been concluded that, digital transformation that keep the
companies for working with more efficiency. It will also keep the changes' consumer behaviour
worldwide and many customers are getting addicted with the latest technology in present time.
Real estate business that can adopt digital transformation that will be significant in their business
growth and have more competitive advantage. It had been also seems that how the real estate
organization can make the proper use of digitally that could work and keep their customer
experience in using developing technology. Therefore, the organization need to work with those
changes which seems to be important and how this will help them for having better future growth
and development. This also stated about that what types strategies organization can make use and
how they will help in adopting the customer behaviour and adopting changes in technology. Real
state which does not adopt the changes, they will go through an arduous journey to survive with
highly competitive industry.

REFERENCES
Books and journals
Albukhitan, S., 2020. Developing digital transformation strategy for manufacturing. Procedia
computer science. 170. pp.664-671.
Almaazmi, J. and et.al., 2020, October. The effect of digital transformation on product
innovation: a critical review. In International Conference on Advanced Intelligent
Systems and Informatics (pp. 731-741). Springer, Cham.
Baiyere, A., Salmela, H. and Tapanainen, T., 2020. Digital transformation and the new logics of
business process management. European Journal of Information Systems. 29(3).
pp.238-259.
Elnably, M. and et.al., 2020. City Branding Through Porter’s Competitive Models: Investigating
El Shorouk City Market Position. In Architecture and Urbanism: A Smart Outlook (pp.
387-399). Springer, Cham.
Erol, T., Mendi, A.F. and Doğan, D., 2020, October. Digital Transformation Revolution with
Digital Twin Technology. In 2020 4th International Symposium on Multidisciplinary
Studies and Innovative Technologies (ISMSIT) (pp. 1-7). IEEE.
Fields, D. and Rogers, D., 2021. Towards a critical housing studies research agenda on platform
real estate. Housing, theory and society. 38(1). pp.72-94.
Kirchschlaeger, P.G., 2021. Digital transformation and ethics.
Konashevych, O., 2020. Constraints and benefits of the blockchain use for real estate and
property rights. Journal of Property, Planning and Environmental Law.
Labrador Rengel, R.A., 2021. Business plan for a shipping container housing real estate
company.
Li, L., 2020. Education supply chain in the era of Industry 4.0. Systems Research and Behavioral
Science. 37(4). pp.579-592.
Nadkarni, S. and Prügl, R., 2021. Digital transformation: a review, synthesis and opportunities
for future research. Management Review Quarterly. 71(2). pp.233-341.
Rothstein, S.A., 2021. Toward a discursive approach to growth models: social blocs in the
politics of digital transformation. Review of International Political Economy. pp.1-24.
Online
THE SAVILLS, 2021. [Online]. Available Through :
<https://www.savills.in/blog/article/200573/vietnam-eng/savills-to-release-
residential-sales-portfolio-2021.aspx>

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