| How real estate enterprises keep their strategies in consistent with the rapidly changing external environment, thus to contribute to the enterprise itself and the healthy development of China's real estate market, is an important issue which we should pay attention to. The article chooses one subsidiary of Guangdong Pearl River Investment Co., Ltd (GDPR) in southwest China: Chengdu Pearl River (CDPR), for analysis and evaluation of its corporate performance from 2008 to the present. In this period, CDPR suffered a series of external environment changes. Through the analysis of corporate external environment and internal environment (including the corporate capabilities, resources, management preferences, etc.) as well as the consistency between them and the corporate strategy, reasonable evaluation of corporate strategy, strategic alignment and implementation can be concluded. The article is also concerned about some other problems exposed to China's real estate industry in recent years. The author hopes that a big picture about the success or failure of China's real estate enterprises could be painted via this case, thus to propose a common strategic suggestion for them to obtain the optimum choice and future direction.External environment variables of CDPR in recent years consist of three main mega events: series of regulation policy launched from 2007 by government, world-wide financial crisis broke out in 2008, and the 512 earthquake. The series of changes affected the market demand, the supply of land and funds, and the established corporate strategic plan, including the IPO plan of GDPR. In order to defuse the crisis, CDPR postponed its development plans, tried to stabilize the financing channels and ask for government support, and strengthened the marketing. While it seems that CDPR has tide over the difficulty, but there are still many questions worth to consider: Whether these response measures are the key factors to help enterprise pulling through? Which strategic direction should the enterprise choose in the long term? The article will also give a series of proposals of corporate strategic planning for future, including strengthening the land reserves, promoting marketing capabilities, and enhancing capabilities of commercial real estate development. |
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