Page 2: Business strategies and plans
In recent years Land Securities has developed a new business strategy. This is 'to invest in property in sectors where we have expertise and operational skills which give us competitive advantage'. By using existing skills this will provide Land Securities with advantages over its competitors. In order to meet this strategy, Land Securities' five-year plan focuses on providing a range of buildings and services where people can live, work and relax. Using existing skills will provide Land Securities with advantages over its competitors.
As a property business, Land Securities has to make the properties it owns work effectively in order to generate good results. It focuses on creative and customer-focused developments to improve the value of the properties that it owns through property management, development and other activities. An example of this is the Bullring in Birmingham. This creates income for its shareholders through the profits it makes.
A rolling plan is one with a planning cycle that is regularly reviewed and refined based on performance. For the plan to be successful, it is important that the company has business objectiveswhich are measurable and that it regularly reviews its progress against these objectives.
Key Performance Indicators
Land Securities calls these business objectives key performance indicators (KPIs). The KPIs are very specific and clearly defined, so they can be used to measure the performance of the organisation. By monitoring whether the business meets its KPIs, Land Securities gains valuable feedback. This helps it to adjust and refine its business strategies and set new KPIs/business objectives.