Introduction

Land Securities is the UK's leading property company. It is involved in many major projects throughout the country. It is quoted on the London Stock Exchange and owns property worth more than £15 billion across the UK. Its main aim is to make the best use of all its property to deliver good results for shareholders. Successful businesses plan for the future. Land Securities has a rolling five-year plan, which sets its targets for the future. Every six months, progress is reviewed and reported to key stakeholders.

Strategy

A strategy is a set of plans. Land Securities plans to invest in property where it can make best use of its skills and expert knowledge. Using existing skills gives it a competitive edge. A rolling plan is one that is reviewed regularly. The result of the review helps it to update the plan. Land Securities' objectives are called 'key performance indicators' (KPIs). These are used to measure progress. It can then set new targets as part of the planning cycle.

KPIs

Some KPIs have a financial focus. For instance, they could refer to returns to shares. Some are non-financial. For instance, they could be to make sure customers are happy. Each key stakeholder group has its own set of KPIs. These will include:

• customers - there are customer satisfaction surveys. These help the business to understand the needs of its customers
• health and safety - Land Securities has won awards for its good practise
• investors - returns are judged on measures of profit and efficiency;
• employees - there are rewards for good work. There are chances for education and advancement
• suppliers - good relationships are developed. Land Securities insists on high standards
• community - added-value is built into projects. For instance, learning facilities for children were part of the White Rose development
• environment - waste and pollution are managed to cause the least impact.

Corporate responsibility

This means that Land Securities shows it has the needs of key stakeholders at heart. It tries hard to reduce any negative impacts. The KPIs help it to maintain this balance.

Reporting

All the key stakeholder groups are kept up to date with progress towards targets. Customers receive visits. Internal groups have an in-house magazine called Landmark. This also reports progress on health and safety issues. Employees have conferences and an intranet. They also have a newsletter. Shareholders receive annual reports. They can also use the website. Suppliers are kept informed through meetings and conferences. There is also a brochure. Local communities are consulted throughout any development process. Government and pressure groups are also included. Good practice on the environment has been shared through a conference.

Conclusion

Good planning is at the heart of the success of Land Securities. It sets targets through its use of KPIs. It makes sure that its key stakeholder groups gain from its activities. It reports progress clearly to each group. This helps to keep the planning cycle going and the business continue to improve.