Study On The Value Chain Of Commercial Property

As the rapid of economy and urbanization, commercial property in China is developing rapidly. However, commercial property fission-produced development induced by high profits and its unreasonable development and operation model has brought many problems. Compared to residential real estate, the value chain of commercial property is more complicated and the interest body involved will be more, these increase the difficulty and uncertainty to commercial property operation. It has become the key to the success of commercial property that how they pursue their self-worth while promoting other stakeholder interests.The major stakeholders of commercial property such as developers, investors, operators, retailers, terminal consumers and the government have different roles and the value concerns. Their value-added activities and corresponds process constitute a completely closed and vertical value chain. In the value chain, with the step-by-step transfer of housing property, which not embodies the value creation, delivery and distribution process of the value-added products and services, but also embodies the transmission process of the values anti-transmission and the anti-market demand information delivery. The value chain coordination and management is that implements a unified coordination to the above-mentioned two forward and reverse processes. Through the downstream stakeholders synergies, it obtains the whole value chain optimal allocation of resources, so as to gain the maximum whole benefits of the value chain and the society benefits.The goal that the value bodies participate in the value chain is designed to acquire the shared revenues. The balanced value distribution to the mutual cooperation is a necessary condition for stability. The enterprise'marginal returns from the vertical relationships are equal to the marginal cost input to the vertical relationship, which reaches the optimal level of vertical relationship. It is an equilibrium conditions that conducts the reciprocal cooperation between enterprises. And it is also a determinant factor and evaluation criteria whether the enterprises participant in the vertical relationship. A value chain management must focus on balance to the different interests of the value bodies, to the short-term interests and long-term interests, to the project's economic and social benefits, and pay attention to the share of the interests. Specialization and division of labor has become the development trends of the commercial property industry. From the angle of Commercial property developers,the different interest bodies may build a stable and harmonious business ecosystem through their mutual advantages complementarity and cooperation, and establish a win-win symbiotic value truth, which may achieve the balance of value allocation and the maximization of community interests. Thereby it can promote the continuous and healthy development to the commercial property industry.