In a joint initiative with the Association of Property Administrators of Madrid (CAF Madrid), EAE Business School organized a conference designed for this group of professional entitled “How to achieve effective innovation in businesses”. Given by Professor Alberto Peralta, the objective of the presentation was to outline the innovation channels in the property administration sector and how vital they are for growth.
With a great number or professionals in attendance, the premise for the conference was searching for business alternatives to the current model. Professor Peralta underlined the need to “look for new business models that complement the traditional model and give rise to growth in the company”. He believes that “it is a sector with considerable restrictions from a legal point of view”, but states that “failure to adapt would result in lots of professionals falling by the wayside”.
In the Professor’s opinion, property administrators have always been businesspeople focused on the local market. However, he believes that professionals now have to take a step beyond this. “The aim of innovation is to design strategies that can go beyond your own targets and tap into potentials to a greater degree”.
Peralta went on to state that “the market is not only the direct customer, but also suppliers, employees, los influencers and investors”. Nevertheless, he specified that these customers have to be “selected based in the preference of the customer themselves in view of their interests”.
Over the course of the conference, many of the participants gave their accounts of the sector, analysing the opportunities and threats that are present. Another option that was proposed for increasing the weight of property administrators on the market was “capitalizing on some unique features of the sector and, after speaking with the markets, finding alternatives for growth”. “This also falls within the definition of innovating”, added Alberto Peralta.
With respect to the business school, he stated that it “offers its users the opportunity to substantially modify the way of managing the world of the company”. Specializing in Strategic Management at the University of Maryland in the United States, Alberto Peralta himself also believed that “EAE is well positioned in the field of innovation and, for Property Administrators, it represents an extraordinary portal”.