Strata are, at their core, living communities. However, their operation is often quite different from what one would expect of a residential entity. The running and management of a strata scheme is nuanced and involving. Thus, it takes strategy and deliberateness to give it a chance to thrive.
The strata manager’s responsibility lies in ensuring that the strata they care for runs smoothly and thrives. That is why the best managers are not afraid to take a different approach in executing their roles. Thus, other than finding methods of keeping the body corporate members invigorated, they also employ various modes of operation that reflect a different yet advantageous perspective. One example is those who manage strata using corporate values.
What Are Corporate Values?
These are a set of fundamental beliefs and guiding principles that aid a diverse group of people to function together as a cohesive unit working towards a common business goal. Corporate values often govern business, inter-personnel, customer relationships, and the company’s growth.
How Do These Values Relate to Strata Management?
The values a strata management company sets out dictate the tone of the strata they care for. They also guide customer relationships. So take, for example, one company whose corporate values are:
Collaboration, Curiosity, Honesty and Quality.
Here is how their respective strata managers may apply each value and how it benefits their customers.
A manager who takes over the running of a particular scheme is uniquely positioned to bring together different groups of people and direct their strengths towards accomplishing a common goal. These opportunities can become cradles for better communication, efficient processes, better innovation, and increased success.
Curiosity forms a strong foundation for learning. Therefore, curious managers are open to new ideas that drive innovation and increase mental fortitude. In addition, they have a better chance at unearthing all the information they need to properly manage a body corporate as soon as they take over the reins.
A strata manager’s role has a vast purview. It can be a very lucrative position, meaning that, as an example, some managers with fewer scruples want to present almost unrealistically low management rates to searching committee presidents. This action only serves to drum up business and does not express the actual cost of proper strata management. As a result, the body corporate may end up having to contend with subpar services.
An honest manager or strata management company is always upfront with all pertinent information to a potential or existing client. In this way, they establish trust and cement their business relationship.
The need for quality lies in all areas of strata management. However, on the other side, this value also yields significant rewards for all parties. Therefore, when a strata manager provides quality services, they deliver high-quality results to the satisfaction of their customers. Consequently, a satisfied customer becomes a loyal one.
Therefore, a strata management company that establishes a set of corporate values and applies them in their business practices will have a higher chance of running thriving communities with many more clamouring for their services.