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The Value of Workspaces for Small Business, Entrepreneurs and Artists in London ABOUT the AUTHOR Carys Roberts Is a Research Fellow at IPPR
REPORT START ME UP THE VALUE OF WORKSPACES FOR SMALL BUSINESSES, ENTREPRENEURS AND ARTISTS IN LONDON Carys Roberts December 2016 © IPPR 2016 Institute for Public Policy Research ABOUT IPPR IPPR, the Institute for Public Policy Research, is the UK’s leading progressive thinktank. We are an independent charitable organisation with more than 40 staff members, paid interns and visiting fellows. Our main office is in London, with IPPR North, IPPR’s dedicated thinktank for the North of England, operating out of offices in Manchester and Newcastle, and IPPR Scotland, our dedicated thinktank for Scotland, based in Edinburgh. Our purpose is to conduct and promote research into, and the education of the public in, the economic, social and political sciences, science and technology, the voluntary sector and social enterprise, public services, and industry and commerce. IPPR 4th Floor 14 Buckingham Street London WC2N 6DF T: +44 (0)20 7470 6100 E: [email protected] www.ippr.org Registered charity no. 800065 This paper was first published in December 2016. © 2016 The contents and opinions in this paper are the author’s only. BOLD IDEAS for CHANGE CONTENTS Summary ................................................................................................ 3 1. Introduction ........................................................................................ 7 1.1 What do we mean by open workspaces? ....................................... 7 1.2 A time of opportunity and risk for open workspaces in London ..... 9 1.3 Methodology ................................................................................ 10 2. State of the open workspace market ............................................... 12 2.1 History ......................................................................................... 12 2.2 Recent growth is shaped by changes in how we work ................. 12 2.3 Open workspaces are concentrated in east and central boroughs ... 13 2.4 Who uses open workspaces? ..................................................... -
Strategic Management
CHAPTER 1 STRATEGIC MANAGEMENT YOU SHOULD BE ABLE TO DO THE FOLLOWING AFTER READING THIS CHAPTER: 1. Describe the key elements in the strategic management process. 2. Discuss the three different perspectives or approaches used in understanding strategy, including the traditional perspective, the resource - based view, and the stakeholder view. 3. Understand strategy formulation at the corporate, business, and functional levels. 4. Explain the difference between strategic thinking and strategic planning. 5. Characterize and explain the key players in the lodging and foodservice industries. COPYRIGHTED MATERIAL cc01.indd01.indd 1 22/22/09/22/09 111:46:591:46:59 AAMM 2 CHAPTER 1 ■ STRATEGIC MANAGEMENT FFEATUREDFFEATUREDEEAATTUURREEDD SSTORYSSTORYTTOORRYY M CDONALD ’ S PLAN TO WIN After 50 years of operation, McDonald ’ s is revitalizing its products, and pushing innovation through a variety of initiatives. This foodservice giant with more than 30,000 restaurants in 100 countries provides food to nearly 50 million customers each day, but decades of expansion, sales growth, and profi ts made the burger giant complacent. By focusing on getting bigger, not better, the company stumbled in 2002, recording its fi rst losing quarter. By 2003, U.S. sales had fl attened, as many consumers were turning to healthier options and restaurants with more upscale menu items, a segment sometimes referred to as “ fast - casual ” . Morgan Spurlock’ s fi lm Super Size Me , released in 2004, also seriously diminished the public image of the quick - service chain, as moviegoers watched Spurlock become ill and gain 25 pounds after eating only McDonald’ s food for one month. With pressure to get back on track, it was time for McDonald ’ s to rethink the business. -
A Local Blend of Luxury
A Local Blend of Luxury An Interview with Reto Wittwer, President and Chief Executive Officer, Kempinski Hotels S.A., Geneva EDITORS’ NOTE Educated at Switzer land’s Hotel Culinary School and the Swiss Hotel Management School in Lausanne, Reto Wittwer be gan his career at the Palace Hotel in Madrid. Thereafter, Wittwer worked and lived in Paris, Tehran, Singapore, Hong Kong, Montreal, Acapulco, Indonesia, and Korea acteristics whenever they walk brand, are you focused on some markets for Intercontinental, Mandarin, into one of your hotels, no matter more than others? Peninsula, and Hyatt. Wittwer has where they are in the world? Yes, we are very happy. We have entered been CEO of three hotel companies: Obviously, there has to be a red Africa, which is not a market where luxury com- Swissôtel, CIGA (from 1992 to 1995), Reto Wittwer line through the company that identi- panies normally go. Yet, in its lodges, Africa can and Kempinski. He assumed his fies the hotel as a Kempinski, but I think command some of the highest rates in the world. present posts in 1995. that idea can go too far. American hotel groups In Botswana and Tanzania, you can make minimal tend to define quality as standardization and uni- investment for maximum returns, because there COMPANY BRIEF Headquartered in Geneva, formity, so wherever you go, you have no surpris- are people who are happy to fork out $2,000 or Kempinski Hotels S.A. (www.kempinski.com) es. Indeed, some famous American groups de- $3,000 a night in a relatively modest lodge. -
Occupier Services
COLLIERS INTERNATIONAL | 2019 U.S. RESEARCH REPORT OCCUPIER SERVICES U.S. Flexible Workspace and Coworking: Established, Expanding and Evolving INTRODUCTION Office leasing and tenancy dynamics are changing However, as the concept matures, the focus is shifting apace. Though coworking and flexible workspace still from individuals to larger firms and enterprise clients. represents a relatively modest share of overall office The tightening and highly competitive labor market, the occupancy, its footprint is rising and expanding rapidly. rise in gig and remote workers, and the belief that a The impacts are being felt far beyond the walls of flexible workspace environment boosts both creativity WeWork and Regus. Not only are there more providers— and productivity is increasingly appealing to corporate and more types of players—entering the arena, but America. Corporations are also finding coworking to be flexible workspace features, such as shorter lease a cost-effective and flexible way to expand and contract terms and greater service offerings, are being adopted their space as needed. even in more traditional landlord/tenant leasing. The purpose of this paper is to help office occupiers Coworking is now widely understood and established in and investors alike to better understand: the commercial real estate industry, and has become an integral space option for most businesses, be they large • The rationale behind using flexible workspace or small. • Examples of leasing models • Types of experience models Though existing in several different forms, flexible • The volume and characteristics of flexible workspace typically brings together workers from workspace in leading U.S. markets different organizations into one general space, through • Key issues facing the sector either memberships or more traditional leases. -
Coworking Space Study
Coworking & Flexible Workspace in Vietnam 2020-2021 A Market Insight Report by Acclime Vietnam, supported by Cushman & Wakefield CONTENTS. Flexible workspace in Vietnam. Where opportunity meets growth. pg. 3 1 The outlook. pg. 9 2 Marketplace analysis and the underpinning for the future of work. 3 pg. 14 Insights into operators and market entry ramifications. 4 pg. 19 The power of users. Value and perception of occupiers. 5 pg. 31 Future of work and the key role of 6 flexible workspace. pg. 34 References & Engagement team. pg. 36 2 1 Flexible workspace in Vietnam. Where opportunity meets growth. 3 a world where human productivity In Vietnam, due to continued economic has a significant correlation with the expansion, the increase in startups IN workspace environment and culture, and SMEs, and changes to traditional and where the office location becomes more and office models, it has become more more important in regards to business operations difficult for businesses to find and efficiency models, it is critical for international appropriate office space in central investors and businesses to have a clear understanding of the flexible office and coworking areas such as Hanoi, Danang, and Ho space market in the region they operate in. Chi Minh City. The rise of the coworking space culture has its roots in the aftermath of previous recessions, which led to an increase in the number of small and medium enterprises and start-ups alike. This represents one of the key premises for the fast development of the coworking space model globally, which now Hanoi has become a mainstream organizational tool used to increase productivity and efficiency, generating fundamental changes in organizations’ structure. -
New Space for the Future of Work: Co-Working in India
JUNE 2020 New Space for the Future of Work: Co-working in India Sabrina Korreck New Space for the Future of Work: Co-working in India Sabrina Korreck ABOUT THE AUTHOR Dr. Sabrina Korreck is a Senior Fellow at Observer Research Foundation. Her research focuses on the future of work and developments in startup ecosystems, particularly in South Asia and Europe. She previously held research positions at the Chair of Management and Digital Markets at University of Hamburg as well as the Hertie School of Governance, and worked as a business analyst in the Berlin startup scene. ISBN: 978-93-90159-37-6 ©2020 Observer Research Foundation. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permisson in writing from ORF. New Space for the Future of Work: Co-working in India ABSTRACT The nature of work is changing, leading to the loss of some jobs and the creation of others that require radically changed skills. In India, as the requirements of this evolving labour market change, co-working spaces fulfil many of the new needs. The aim of this paper is twofold: to describe the development of the co-working industry in India, its driving factors, as well as the architecture, design and social aspects of the work environment; and explore the demographics of co-workers, the kind of jobs they do, their work conditions, interactions, career aspirations, and satisfaction levels. The study builds on a survey of 462 people working at co-working spaces operated by WeWork, and was supplemented by interviews with staff, as well as a literature review. -
Collaborative Spaces in a Dynamic World Order
India – November 2020 SPOTLIGHT Collaborative Spaces Savills Research in a Dynamic World Order Collaborative Spaces in a Dynamic World Order Contents 03 Preface 04 Dynamism in the Current Decade 06 Coworking Landscape: India & The World • India: Second Largest Preface • Large Coworking formats in India compared to the world average Disconcertingly similar to some economic devastations of the past, • Tech cities in India to lead the Coworking activity • Holding Advantages: Coworking vs Traditional Leasing Mindset such as those caused by the dotcom burst at the turn of the century or the Global Financial Crisis of 2008, the current pandemic has tested social and economic resilience in the extreme. If the degree of severity were to be measured qualitatively, the “VUCA” (Volatility, Uncertainty, Coworking: Future Scenarios and Projection-Model 11 Complexity and Ambiguity) is significantly pronounced this time. • Evolving Operator Strategies Figuratively, it has thrown a blanket of impact has been severe on those real estate developers and occupiers from different parts uncertainty and despair across the world, segments, which were at the forefront of of the country. as economy and business prospects fell progress. One among such frontrunners was Across the world the current pandemic is Coworking Universe: Preferences and Viewpoints drastically in 2020. The projections for the Coworking. 15 likely to usher a new age. The times ahead • Occupier Perspective first half of 2021 remain uncertain too, if not entirely damaged. In this report, our endeavour is to give you are being shaped by Artificial Intelligence, • Developer Perspective a three-phased picture regarding the future Machine Learning, Data Analytics, Cloud Nevertheless, the positive news is perhaps of Coworking. -
Transformative Trends the Office Market in Saudi Arabia Ian Albert Regional Director | Middle East & North Africa [email protected] Introduction
Overview KSA | Offices 2018 Transformative Trends The Office Market in Saudi Arabia Ian Albert Regional Director | Middle East & North Africa [email protected] Introduction The Kingdom of Saudi Arabia is witnessing an evolution of product offerings across its office market. This is evidenced by the recent entrance of themed office parks and the announcement of a forthcoming supply of integrated mixed-use developments across major cities. The key driving factors behind the changes are a Imad Damrah combination of changing market dynamics (shifting focus Managing Director | Saudi Arabia to cost savings and hence the need for differentiated and [email protected] efficient products) and evolving tenant preferences. This transformation of the KSA office market is expected to be influenced by both global and local trends, leading to fundamental changes in the real estate landscape. The most significant change in the last 5 to 10 years has been flexible and co-working space, in addition to several mega transportation / railway projects that were recently initiated, with some nearing completion. This paves way for opportunities arising from Transit Oriented Developments (TODs). Nawaf Saymeh Director - Advisory & Investment Strategy | Saudi Arabia Strong government initiatives and an expansive [email protected] population structure underpins the market for real estate development opportunities. The Saudi Vision 2030 and National Transformation Program (NTP) place a focus on the diversification of the economy. Recent news to support the government’s commitment behind this initiative include the establishment of the General Authority for Small and Medium Enterprises (SMEs) and a c. SAR 72 billion private sector stimulus package. -
Coworking Size & Capacity Report
2019 COWORKING SIZE & CAPACITY REPORT BROUGHT TO YOU BY F O S E T L B A N T E T 2 F O R E W O R D N 4 C A P A C I T Y D A T A 16 1 0 0 H I G H E S T C A P A C I T Y C O U N T R I E S O 20 2 0 0 H I G H E S T C A P A C I T Y C I T I E S C 26 A V E R A G E C O W O R K I N G S I Z E ( S Q . F T . ) 36 1 0 0 L A R G E S T S I Z E C O U N T R I E S 40 1 5 0 L A R G E S T S I Z E C I T I E S 44 S P A C E D E N S I T Y I N D E X 48 F I N A L T H O U G H T S P A G E 3 SPACE CAPACITIES & SQ. FT. REPORT As the number of coworking spaces around the world continues to grow, we want to share several of their commonalities with you, including how big the spaces are compared to world averages, trends in entrepreneurial endeavors, how spacious the spaces are in relation to their goal of helping businesses thrive, and more. -
NYC Newtrends: Coworking
Research JUNE 2016 NYC NewTrends WeLease: The Growth of Shared Workspace and Its Impact on the New York City Market The growth of coworking is astounding. This real estate niche is changing the way people work and how new companies grow. The number of locations citywide, their total occupancy and the number of new providers have increased by multiples in just six years. This rapid expansion has led to lively debates about the future of coworking in New York City. Coworking as a 1.2% percentage of 767% Manhattan’s total inventory Growth in square footage occupied since 2009 180 Locations in New York City, 6,258% up 86% since 2009 44 Increase in WeWork’s New York City portfolio since opening their New NYC providers first location since 2009 Square for a total of 90,560 Feet 53 today Average size of WeWork’s new locations in 2016, up 186% since 2010-2011 1 Research JUNE 2016 NYC NewTrends The Boom Years of Coworking and Shared Workspace Market Share of Providers Demand for coworking space has been fueled by citywide growth of freelance workers and small businesses—firms with fewer than 20 employees. According to data from the U.S. Census Bureau, employment in this segment of the labor market has grown by Other (44 Virgo providers) 70,999 jobs since 2010, far outpacing the prior market cycle (2002 Business 18% Centers to 2008), when this segment grew by just 12,255 jobs. 2% The Yard In 2009, there were an estimated 25 coworking locations totaling 2% WeWork 698,501 square feet. -
Evolving Workplaces
Evolving Workplaces Analysing Productivity & Engagement Drivers DISCLAIMER The content herein is based on the primary survey (“Primary Data”) carried out by [KPMG in India] (“KPMG”) on behalf of Smartworks. KPMG has also referred to information from the public domain and other secondary sources (“Secondary Data”). KPMG has not verified or investigated Primary Data or Secondary Data and assumes no responsibility for the veracity, accuracy and completeness of such information and will not be held liable for it under any circumstances. KPMG accordingly disclaims all responsibility and liability for use of such Primary Data or Secondary Data, including disclaims any warranty for accuracy, veracity, completeness or non-infringement. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. In connection with the report or any part thereof, KPMG does not owe a duty of care (whether in contract or in tort or under statute or otherwise) to any person or party to whom the report is circulated to and KPMG shall not be liable to any party who uses or relies on this report. KPMG thus disclaims all responsibility or liability for any costs, claims, damages, losses, liabilities, expenses incurred by such third party arising out of or in connection with the report or any part thereof including for any acts of commission or omission therein, howsoever caused. Although we have attempted to provide correct and timely information, there can be no guarantee that such information is correct as of the date it is received or that it will continue to be correct in the future. -
The Hotel Industry Profile
TERM PAPER AMITY INTERNATIONAL BUSINESS SCHOOL HOSPITALITY INDUSTRY INDEX CERTIFICATE UNDERTAKING ACKNOWLEDGEMENT HOSPITALITY INDUSTRY – AN OVERVIEW Hospitality is all about offering warmth to someone who looks for help at a strange or unfriendly place. It refers to the process of receiving and entertaining a guest with goodwill. Hospitality in the commercial context refers to the activity of hotels, restaurants, catering, resorts or clubs who make a vocation of treating tourists. Helped With unique efforts by government and all other stakeholders, including hotel owners, resort managers, tour and travel operators and employees who work in the sector, Indian hospitality industry has gained a level of acceptance world over. It has yet to go miles for recognition as a world leader of hospitality. Many take Indian hospitality service not for its quality of service but India being a cheap destination for leisure tourism With unlimited tourism and untapped business prospects, in the coming years Indian hospitality is seeing green pastures of growth. Availability of qualified human resources and untapped geographical resources give great prospects to the hospitality industry. The number of tourists coming to India is growing year after year. Likewise, internal tourism is another area with great potentials. The hospitality industry is a 3.5 trillion dollar service sector within the global economy. It is an umbrella term for a broad variety of service industries including, but not limited to, hotels, food service, casinos, and tourism. The hospitality industry is very diverse and global. The industry is cyclical; dictated by the fluctuations that occur with an economy every year. Today hospitality sector is one of the fastest growing sectors in India.