From SPOD to BANI: Digital Transformation of the Real Estate Organization Business Model

Abstract

Digital transformation today is an objective reality and a vital need for organizations in all fields of activity. It can be the result of forced circumstances of external conditions (pandemic), as well as an intentional decision of the strategic development set by the company’s management. In both cases, the digital business transformation process provides a multiple increase in the speed, quality, and efficiency of business processes. For real estate, these trends are no exception.The object of research in the article is management business modeling of the activities of real estate organizations. The subject of research is the process of digital transformation of the business model of real estate organization.The purpose of the article is to substantiate the digital business model of real estate organization based on the ecosystem approach in the BANI world.The article justifies the conceptual process of transforming the business models of real estate organizations, based on the evolutionary transition from SPOD to VUCA and the BANI concept of entrepreneurial reality. Each of the presented “worlds” is characterized by differences in management metrics and a different level of technology presence in the activities of organizations. The forced immersion of business in the entrepreneurial BANI world accelerated the processes of digital transformation. The dynamic development and ubiquitous presence of digital technologies requires appropriate adaptation of business models and management approaches. For the conditions of the BANI world, the most relevant is the ecosystem approach, combining complex approaches and platform solutions.

Keywords

• digital transformation
• spod-vuca-bani concept
• analog business model
• transitional business model
• digital business model