Increasingly, companies and organizations across all industries are faced with the reality of adjusting to an American society that is increasingly reliant on technology. Incorporating these technologies can prove to be highly beneficial in some ways, yet they also come with their fair share of drawbacks. Creativity, innovation, and prudent investing in technological infrastructure seems likely to be needed. This is especially true after a year in which the coronavirus pandemic significantly altered the way everyone does business, and the real estate industry is no exception.
It would be prudent for the commercial real estate industry to carefully examine the potential benefit of incorporating technology to improve their workflow problems. Generally, it is critical to understand the dimension of intensifying technology solutions in real estate to solve the existing problems that benefit transformation management. At Williamsburg Enterprises, the issue of technology and workflow stands to be something that could be improved upon. During my internship thus far, it is an area that I see that could present significant problems in the future. The paper considers a reflection of the problem of technology and workflow within the organization and the possible solution.
Technology and Workflow Problem
As with many similar businesses and organizations, Williamsburg Enterprises is likely to encounter obstacles with technology and workflow. During the COVID-19 pandemic, this became an area that was significantly affected in attributes that involve monitoring technology, managing it, and controlling the risks of technology. With the realities of the pandemic necessitating limited movement and employees working remotely, it became increasingly necessary to consider a critical reconfiguring of the real estate investment industry. It is an issue that called for increased tact to solve under fresh, innovative operational dimensions.
Pankratov (2020) implied that renovations are inclinations that call for the proliferation of generating the desire to build an environment that fits into various modern dimensions. With the instituted provision of increased technology in the commercialization of real estate, the methods for reconfiguring the processes present distinct challenges. It seems that the discovery that technology attributes to moving to ‘mandatory’ provisions the scope of including various accelerated adoptions (Li, 2021). For instance, the developments I find necessary to adapt to align with technological needs in the pandemic-era include contactless doors and elevators to help control the coronavirus disease, and other future infections.
Williamsburg Enterprises should also consider adopting technology that monitors the air and water quality in buildings and areas that service their real estate clients. Pankratov (2020) suggests that implementing these health and safety protocols is a prudent dimension that enhances the scope of retaining clients and attracting new customers. Commercial real estate is an inherently competitive industry, and by adding this new element, Williamsburg Enterprises could likely stand to increase its performance and general revenue. It is a substantiation that constitutes ensuring confidence gets realized by the clients. The necessity of airflow and recirculation control plays an integral role in ensuring that technology and workflow operate harmoniously to create the desired environment. It is a necessary dimension that entails ensuring that the remote services efficiently transfer the office environment to our homes (Li, 2021). As the assistant to the CEO and the CFO, we discussed these areas with the administration to ensure the firm is well prepared for any future outcomes.
Moving to a substantially digitized environment calls for enhancing better and smarter buildings and operations. However, adding this expanded infrastructure often comes at an expensive price and may not always be feasible for all companies. This is especially true in the midst of a pandemic, and in an economy that seems to be increasingly fragile (Li, 2021). Thus, introducing expanded infrastructure at a high cost might not always be too palatable for some companies. On the other hand, Li (2021) implies that it is a step that can be realized by embracing technologies such as web meetings, safety measures, privacy and collaboration tools, and cyber security.
Today, even the most resistant user can probably appreciate technology and understand ways it can result in increased efficiency. Williamsburg Enterprises faces the challenge of installing all these technological requirements in homes without modern fittings that constitute the space to embrace the identified technologies. The commercialization of real estate portends to change, and this progression must be uniform for an increased realization of efficiency. Generally, it is crucial to understand the proliferation of safer building spaces with the adoption of the currently available technologies. Efficiency must also be a priority when constructing the spaces (Pankratov, 2020).
Conclusion
Current and emerging issues pertaining to the commercial real estate industry, including Williamsburg Enterprises, involve the intersection between technology and workflow. The reality of the coronavirus pandemic increasingly requires individuals to work remotely, and for the businesses to make the necessary adjustments. This necessitates the increased investment in technology, but it might not be all for waste if a long-term plan is devised such that the technology serves other benefits.
References
Li, B. (2021). Research on Real Estate Information System of the Real Estate Market Based on Big Data Technology. In E3S Web of Conferences (257). EDP Sciences.
Pankratov, E., Grigoryev, V., & Pankratov, O. (2020). The blockchain technology in real estate sector: Experience and prospects. In IOP Conference Series: Materials Science and Engineering (869). IOP Publishing.
