E-Commerce in Real Estate and Construction
Course Description:Together, real estate and construction make up the largest industry in the world. They are also exceptionally fragmented, fractious, and information intensive. The Internet and e-commerce could be expected to have explosive impacts on these industries. Will they? How? Will e-commerce go beyond exchanges and document posting? Will existing companies adopt the technologies to transform themselves, or will new companies remake the industry?At the firm level, how will new technologies impact economies of scale, risk relationships, and the importance of knowledge management and maintenance of corporate culture? How will these forces shape the strategies of professional service firms in the design, construction, and real estate space? Will this be different in the U.S. market, in other developed countries, and in developing economies?This course will focus on the long-term effects of information technology and business strategy. We will consider issues including: key success factors, allocation of risk, impact on contract obligations and security, trends toward consolidation, and the convergence of information transparency and personal effectiveness. The course will be taught on an interactive, case study basis. Case studies and resources will be drawn from both the world of dot.com entrepreneurship, and from the responses of \”old economy\” companies.Pedagogic Objectives:The objectives of this course are to equip students with the basic strategy and business analytic tools to contribute to shaping business policy in their own firms as they rise to levels of influence. Completion Requirements:Attending all scheduled classes is mandatory. Grading will be based on class participation and on problem sets and written assignments.Prerequisites: none.