Image Audit Of Olav Thon Real Estates

Essay, Research Paper

Image Audit of Olav Thon Real Estates

THE IMAGE AUDIT

Corporate Communication 1998-99

. Describe your organization and do a mini-SWOT analysis of it.

Olav Thon Eiendomsselskap ASA was founded and given its present structure in

1982. The company is a part of the Olav Thon Group. It was introduced on the Oslo Stock Exchange in 1983, and the company has grown considerably since then. The Group is mainly involved in real estate and operations in the hotel and restaurant trade. The company`s main strategy is to invest in business properties which is centrally located, especially in the Oslo area. In the long term, the company aims to achieve the highest possible added value. This may be achieved through redevelopment and efficient operation of the properties. As of 01.01.98 the company`s property portfolio consists of about 350 000 sqm of rental space, and the aggregate (theoretical) rental value of this portfolio is approximately NOK 408 mill. As of 31.12.97, the company had 1, 743 shareholders. Mr. Olav Thon holds about 62,3% of the shares.

The semi-annual report as at 30 June 1998, shows that the Group`s rental and other opertaing income for the first six months of 1998 was NOK 211,1 compared with NOK 178 million in the first half of 1997. The percentage of shares held by Mr. Olav Thon, did not change. The profit for the second half of 1998 was anticipated to be in line with the results of the first half-year.

. MINI-SWOT ANALYSIS

. STRENGHTS:

. good maintenance and standard of the real estates

. Safe tenancy conditions solid and secure real-estate management

. Flexibility regarding the size and situation of the premises

. Well established service apparatus, and good personal service

. Attractive premises

. Long experience

. loyal customers

. niches: offices / general business premises, shopping centers and hotels

. situation of premises

. well built infrastructure (train, subway, bus, roads etc.) around the real-estates

. WEAKNESSES:

. Expensive, and rising rental prices

. static marked

. OPPORTUNITIES:

. private housing marked

. industrial areas

. continued buying up and expansion in Oslo, Norway and abroad covers two segments: those who want to establish in the nucleus, and those who want to establish in shopping centers

. positive development regarding shopping centers

. localization close to the junctions/infrastructure

. continued development of shopping centers and hotels

. THREATS:

. home offices

. the authorities restricts business

. strong competition

. taxes

. shortage of properties and buildings

. shopping centers enormous dynamic inside commodity trade

. Identify their most important stakeholder groups and explain their importance to the organization.

A stakeholder is those with a vested interest or stake in an organization, or in other words they are individuals who perceive themselves to have an interest in the actions of an organization. They may be customers, shareholders, employees, or just members of society. They generally express themselves through groups that share a common purpose such as environmental or consumer causes (Baskin. 1997: 160).

Several sociologists have described types of linkages that the public relations manager can use to identify an organization’ most important interpenetrating systems. Milton J. Esman listed four types of linkages that he believed to be critical for an organization to survive. The four kind of linkages are; enabling linkages, functional linkages, normative linkages and diffused linkages (Grunig, 1984: 140-142). We have chosen the groups within each of these linkages which we identify as the most important. We have also explained their importance to the organization.

Employees

The employees provide the organization with workforce, experience and knowledge, and they do the tasks which is important for the organization to succeed. This group is representing the organization externally, and because of this they become very important for the firm.

Community Residents

Diffused linkages are described as elements in society which cannot clearly be identified by membership in formal organizations+ (Grunig, 1984: 142). One of these linkages is community residents. How are they important to Olav Thon Eiendomsselskap ASA. First of all the company would not exist if there were no tenants. OTE is depending on placing their facilities at places where it is attractive to have stores, rooms for firms etc. Both aspects are depending on infrastructure like roads, bus and parking lots, to be looked at as attractive. Because consumers must find it easy to visit a shopping center, and owners of firms must think its easy to locate their firm.

Stockholders

A lot of companies has the word ASA in its name, and that means that everyone is allowed to buy stocks in this company. In Olav Thon Eiendomsselskap ASA most of the stocks are controlled buy the firm itself, as many as 62,3 %. And most of the other stockholders possess less than 5 %. This means that there are no extern stockholders with enough vo

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