Page 1: Introduction
When we visit a shopping centre or go into the centre of a modern city, we take for granted all the services and facilities that are available. The skyline of almost every city within the UK is dotted with new developments designed to serve the needs of modern consumers. These building and property developments have changed the towns and cities and improved our everyday lives. At the heart of such initiatives have been creative projects designed to revitalise urban areas. Examples of these are the new Bullring in Birmingham, the Cardinal Place re-development at Victoria in London and the new shopping quarter in Canterbury.
Land Securities, the UK's leading property company, played a key role in each of these developments. It has had a huge influence on the day-to-day lives of people living across the UK. Quoted on the London Stock Exchange, it is a member of the FTSE 100. Land Securities owns property worth more than £15 billion across the UK. Its core purpose is to make the best use of all its property in order to deliver results.
Land Securities has a rolling five-year plan that helps it to look forward in order to meet its customers' future needs. This case study focuses on Land Securities' business strategy. It describes how the company uses planning processes to provide a clear direction for the organisation.
Planning helps to identify how business objectives are achieved. One of the most important functions of management is planning. Planning helps to identify how business objectives are achieved. It involves thinking ahead, setting objectives and creating the means to achieve them. It also involves setting up the processes needed to measure how well an organisation is performing against its business objectives. Planning provides the starting point for making the decisions and taking the actions that build the organisation's future. When plans are put together, they will usually involve an element of change. For example, the plan may involve internal or external changes for an organisation which will result in new decisions and actions. It is vital that there is effective communication with all groups of stakeholders so that they know the plan is working. Every six months, the management team at Land Securities reviews business performance against its plan and communicates these results to its stakeholders.