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  • Subject Name : Management

Feng Shui and Its Impacts on Land and Property Developments

Introduction to Feng Shui Services

Investing in property, mostly for houses, is one of the biggest decisions in an individual’s life. To enhance the experience of owning a space, it is necessary to align the energy of that space with one’s own. This is where Feng Shui comes into play. Feng Shui is an ancient practise from Chinese traditions that civilizes the energy forces to unify individuals with the environment they surround themselves in. The word “Feng Shui” literally translates to mean “wind-water” in English. As more people become spiritually aligned, there is an increasing demand for practises such as these to be better inculcated in the fast paced world we live in (Zhong, Z. & Ceranic, Dr Boris., 2008). Today, Feng Shui is practised in any big or small manner possible ranging from interior design, property planning, commercial optimisation or even just everyday wellness and spirituality.

Study of Feng Shui Services in UK

There is scientific evidence to prove that well-chosen colour accents can stimulate positive brain responses. This helps an individual to be more productive in an energised workforce. The practise of Feng Shui makes use of natural elements, colours, timings, natural light, appropriate placements, proper designing, symbols and also locations to best suit the requirements of the clients or the business. It creates a positive working space and equips one to benefit from several achievements. According to Tam, C.M., Tso, T.Y. and Lam, K.C., 1999, Feng Shui was a determining factor in relation to the dependent variable of “Housing Price”. Chinese culture plays an increasingly demanding role in the pricing of houses and in the villages, it determines the values and beliefs that dictate expectations as well as responses to those prices (Tam, C.M., Tso, T.Y. and Lam, K.C., 1999).

Business Description – Feng Shui Services will provide a holistic benefit to the construction and real estate industry. It will strive to provide Feng Shui consultation services to clients such as architects, builders, property owners and buyers, as well as direct consultation for small scaled purposes such as interior design, landscape and art.

Team Domain

Connectedness - The team will consist of highly genuine and motivated towards the cause members. People who are steadily committed towards making a difference to the business and in a larger perspective, in the betterment of lifestyles, will be taken on board. The primary team will consist of the Chair, the treasurer, Feng Shui certified consultants and experts. Other crucial members of the team will include people like the finance analysts, accountants, various department managers, social media engagers and others. 

Mission Statement – To provide authentic, trustworthy and high quality Feng Shui services for the real estate and construction industry in UK. To form long-term relationships with our clients by providing authentic reliable consultation services.

Critical Success Factors - Perhaps the most crucial task for the business will be the identifying the critical success factors. According to Trkman, P., 2010, for this, we must choose a team that must be vigilant and must start from the top of the organisational level. Employees will also be asked to provide regular feedbacks and to contribute to ideas. A number of frameworks can be applied in order to detects the Critical Success Factors that are essential for the success of the business and its future.

Industry Attractiveness – The buyers hold a considerable amount of power in this field of business. As this caters directly to their personal beliefs and practises, buyers of the service tend to be particularly sceptical if not convinced of genuine consultation from Feng Shui experts. Industry attractiveness can also be assessed by considering a range of factors each of which is given a weighting to produce a composite picture.

Industry Attractiveness Factor

Weight

Attractiveness Rating

Weighted Industry Rating

Market size and projected growth

0.50

7

3.5

Intensity of competition

0.05

2

0.1

Resource requirements

0.20

5

1

Emerging industry opportunities

0.15

7

1.05

Industry uncertainty and business risk.

0.10

5

0.5

Sum of weights

0.7

   

Industry Attractiveness Rating

   

6.15

Rating Scale: 1 = very unattractive; 5 = average; 10 = very attractive

Market Attractiveness – There is an upward trend in the market recently owing to the fact that people are now choosing more conscious and sustainable ways of living. This growth in the market is expected to continue increasing.

Sr. No.

Scope Of Market Analysis

Necessary Data

1.

Size of Market

· The market value of UK real estate is 1,662bn, and represents 21% of total net wealth. (British Property Federation, 2020)

· Real estate’s contribution to UK’s economy stands at 101.2bn – 7% of its GDP. (BPF, 2020)

· UK’s commercial real estate industry employs over 1 million people and supports 1 million more. (BPF, 2020)

2.

Market Segment

Customer’s needs and expectations include:

o Written reports,

o Drawings,

o astrology,

o home and office inspections for energy balance,

o on-site consultations.

3.

Competitors’ Characters

· The competitors in this market field are not aggressive, neither is there much competition in this field as it is an up and coming field of interest and practise.

· The use of social media is seen extensively in marketing strategies.

Target Segment Benefits and Attractiveness

  • The construction and real estate market stands to benefit most from Feng Shui Services as commercial and residential sectors too are changing by people who are now making more sustainable and conscious choices not only in everyday lifestyle but also in their monetary investments.
  • The client target segment of this service will be those who live consciously and practise Feng Shui in regular life.
  • It will also target those who are spiritually inclined, eco-conscious, living a sustainable life and require good energy around them.

Sustainable Advantage

To understand the sustainable advantage of one’s business, it is crucial to understand the needs and requirements of the customers. Thorough understanding of what the customers value about our services versus what they value about the services provided by our competitors. We need to under the distinct characters that customers use to decide which service they will ultimately invest in. In this process, it is crucial to involve experienced and knowledgeable people who can benefit our output by helping us broaden the range of characteristics that we can identify. We can involve planners, service teams, Feng Shui experts and most importantly, the customers themselves to help with this process. Some of the most important criteria that customers consider while choosing Feng Shui Services is the reliability and ease of access to the service. So we must keep this in mind and plan strategies using these to our maximum benefit.

Bibliography for Feng Shui Services in UK

Tam, C.M., Tso, T.Y. and Lam, K.C., 1999. Feng Shui and its impacts on land and property developments. Journal of urban planning and development125(4), pp.152-163.

Trkman, P., 2010. The critical success factors of business process management. International journal of information management30(2), pp.125-134.

Zhong, Z. & Ceranic, Dr Boris., 2008. Modern interpretation of FengShui in contemporary sustainable residential design. 113. 47-56. 10.2495/ARC080051.

Remember, at the center of any academic work, lies clarity and evidence. Should you need further assistance, do look up to our Management Assignment Help

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