STRATEGIC MANAGEMENT IN CRISIS OF THE REAL ESTATE BUSINESS; MIXED-USE PROJECT

Abstract

The objectives of this article research study were: 1) Crisis environment that affects, 2) Characteristics and organizational management, 3) Strategies for adapting to the crisis, and 4) Development of strategic management in the crisis. This study is qualitative research. There are 3 groups of key informants: 4 senior management groups, managers group 10 practitioners, and 16 specialist groups, totaling 30 people. The tools used in the research were document studies, in-depth interview, and group chat. Data analysis was conducted in accordance with qualitative research guidelines. The results of the research found that 1) The external environment, including the overall situation and changes in the real estate market, COVID-19, international wars domestic and global economy intense competition, and consumer behavior does not affect the operation of the mixed-use project to be interrupted. 2) Features and management within the organization, It is an interesting project and there are components within the project that are designed to be used together, and can meet the needs of consumer groups. 3) Crisis Adaptation Strategies, There is consistency in terms of project size, investment value, and investors. It is a project that has many sectors together, gives importance to the benefits to the community, and is a source of job creation, and income generation, and a large community source for differences in spatial, location, ownership, concepts, and laws related to the area. 4) Development of a strategic management model in the crisis of real estate business. The integrated project has 5 components: 4.1) Overall environment analysis, 4.2) Internal environment analysis, 4.3) Data acquisition plan, 4.4) Process and system creation, and 4.5) Measuring the results obtained from performance according to strategies and business plans laid out.