Purchase Solution

Knowledge management and family succession in real estate

Not what you're looking for?

Ask Custom Question

Writes a literature review of approximately 1000 words.
It should break down to introduction // Board context (defining key terms) // Main bodies (key issues and theories) // Conclusion

I attached marking criteria along and it need around 15-20 references using "Harvard Reference System."

The topic is: "How knowledge management helps family business in real estate implement succession and change?"

Attachments
Purchase this Solution
Solution Summary

The response provides you a structured explanation of knowledge management and family succession in real estate . It also gives you the relevant references.

Solution Preview

In compliance with BrainMass rules this is not a hand in ready Literature Review but is only guidance.

Board Context:
Families that hold real estate, planning for succession is difficult and an important challenge they face. Yet real estate succession planning for families can also be a great opportunity to maximize returns and create a multi-generational institution that holds family's values and mission for generations to come. Knowledge management is efficient handling of information and resources (13). It requires systematic management of a family's knowledge assets for the purpose of real estate succession so that the succession creates value and meets the strategic requirements of the family. For example, succession of real estate may be planned in such a way that tax liability may be minimized. Knowledge management requires the use of initiatives, processes, strategies, and system that sustain and increase the storage, assessment, sharing, refinement, and creation of knowledge (14). For example, if there is knowledge management about real estate owned by a family, succession planning may take place over a horizon of several years and may take into consideration several factors such as the value of the estate, the cash flow from the estate, the management of estate, and its ownership. In contrast, if there is no knowledge management real estate succession may take place out of necessity because of the death or incapacitation of a person. From one perspective knowledge management refers to getting the right knowledge to the right person at the right time (15). In case of family succession in real estate, knowledge relating to several areas is required. Some of these are analysis of family generational ownership issues, gift planning, and transfer restrictions (1). There is need for knowledge management related to family real estate trusts, will relating to real estate, and the formation of limited liability companies (16). For example, knowledge management will reveal if the formation of a Limited Liability Company is appropriate for the formation of the company.
Knowledge management also refers to knowledge sharing, storage, and refinement (10). It is a system that is designed to assist the sharing and integration of knowledge. It refers to living knowledge ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

View More Free Quizzes
Related BrainMass Solutions

  • management, governance, and family practices

    The company consists of newspaper and web publishing, digital printing, commercial real estate development, a recycling company, and an investment/venture capital company. (Until 2002, the Ferré family also controlled Puerto Rican Cement.)

  • Succession planning for top executives

    Succession planning can distinguish these differences in a significant manner (Phillips & Roach, 2007). References Phillips, J. & Roach, J. (2007, August). Succession Planning. Real Estate Journal, 58 (7).

  • Developing a Management Succession Plan

    460245 Management Succession Plan Carol Wingard has worked hard to build the small jewelry manufacturing company she started in her late 20s into a highly successful family business. Now, 40 years later, she is "ready to step down and enjoy life."

  • Case Study: Succession Planning and the Family Business

    Ownership Succession and Estate Planning Difficulties The reasons for not having advanced further in management succession hold true for the planning of ownership transfer.

  • Succession Planning Bibliography

    Using a SWOT type of analysis to gauge both interest in succession and if there are alternatives that need to be discussed within the family, will help establish what the company has accomplished and where the strengths and weaknesses lie.

  • Succession Planning for Multicultural

    With this in mind, companies need to take care when planning for succession. This includes family owned and operated businesses.

  • Executive Summary Real Estate

    Systemic Stakeholders' Management for Real Estate Development Projects. Global Business and Management Research: An International Journal, 5(1), 66-82. Lee, S. (2009). The Risks of Investing in the Real Estate Markets of the Asian Region.

  • Labor Supply and Demand Scenario

    - Brokerage services - Real estate finance services (mortgage banking, real estate investment), - Real estate operations - Property management - Architecture and design.

  • Succession Planning and Implementing

    Other management level and middle management personnel must be part of succession planning. This is because the strategic planning, the second step in succession planning, determines what types of leadership is needed at those levels.

View More Related Solutions