Case Study 3: Corporate Solutions at JLL Essay

Case Study 3: Corporate Solutions at JLL Essay

Case Study 3: Corporate Solutions at JLL Essay

Introduction

1. What advantages and disadvantages does a single point of contact at a service provider have for Bank of America (BofA)? (Please elaborate 1-2 pages)

Advantages (list and elaborate) below are some pointers to discuss

-Centralized and consistent communication with a single provider

-Logistically, this reduces the corporation\’s point of contact from 3-4 different firms / individuals (transaction broker, tenant leasing rep, property manager, etc), to a singular individual / firm.

-Significantly speeds up the flow of information and can help to eliminate the risk of miscommunication / improper interpretation of tasks

-Goal of this single POC becoming a partner, rather than someone looking to simply sell more products or services
Based on JLL restructure, new account managers will place a heightened focus on achieving client objectives and providing strategic insight in addition to fulfilling transactions as needed

Disadvantages (list and elaborate) below are some pointers to discuss

-As there is only one point of contact, if said individual is not a high-quality candidate there is a higher chance of losing the account. Further, the same is true if the relationship between this one individual and BofA begins to deteriorate.

-It may be difficult to find a single individual with the skills required to handle all required services: Project development management (36% of revenues), tenant representation (41%), corporate property services (23% of total revenues), transaction advisory, etc.

2. What are the advantages and disadvantages of restructuring Jones Lang LaSalle (JLL) to create a corporate real estate services/account management function? (please elaborate 1-2 pages) below are some pointers to discuss.

-Why should they restructure?

Advantages (list all and elaborate) below are some pointers to discuss

-Potential increase in client retention due to curated services (relationship-based)

Disadvantages (below are some pointers to discuss)
-There is resistance internally (within departments) to change. Divisions were not specifically opposed to the change, however, it seems there is a sense of complacency that has formed around current operations.

-Departments previously had ownership of their clients. A risk exists that when these clients are shared with other departments, the relationships may crumble

-Less autonomy may exist post-restructuring for each business department