35727-UCEM RAMP module info-060516€¦ · An overview of the various types of retailing and their...

University College of Estate Management • Retail Asset Management Programme module information • ucem.ac.uk P.1

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Retail Asset Management Programme Module information

These tables indicate the modules included in this programme and the structure which they follow.

Should you require further information about the modules, please contact [email protected]

Students may enrol on either the Professional Certificate Retail Destination Management or the Foundation degree Retail Asset Management.

Exemption route to stage 2 of Foundation Degree Retail Asset Management is not available until October 2017.

Standard duration: Professional Certificate 1.5 yearsFoundation degree 3 years

Please note: Students can start in either October or April

Where considered necessary to do so at any stage, UCEM may seek to make variations to programme content, entry requirements and methods of delivery, and to discontinue, merge or combine programmes. This is subject to consultation with relevant students and other stakeholders, setting out the reasons for the proposed amendment(s), and compliance with the requirements of the UCEM Code of Practice on Programme Monitoring, Amendment, Review and Discontinuation. Should such an eventuality occur during the admissions and registration process, applicants will be informed immediately of any change and the alternative arrangements that have been put in place.

People & Organisational Management Introduction to Real Estate Practice

October Semester April SemesterYr

1

2

Students on the October entry

Technical & Professional Communication Multi-Channel Retailing

Students on the April entry

Marketing the Retail Asset Technical & Professional Communication


Marketing the Retail Asset Contract and Lease Management


Multi-Channel RetailingContract and Lease Management

2016/17 entry

35727/060516

Professional Certificate Retail Destination Management

People & Organisational Management Introduction to Real Estate Practice

October Semester April SemesterYr

1


Technical & Professional Communication Contract & Lease Management


Contract & Lease Management Technical & Professional Communication

Foundation Degree Retail Asset Management

Technical & Professional Communication

Aims

This module consolidates students’ existing knowledge and communication skills and enhances such skills as a sound basis for the study of the other modules included in the course. This module aims to examine:

➜ the accurate communication requirements between individuals and within and between organisations using a range of media

➜ the theoretical basis underpinning successful professional and technical communication

➜ how to undertake property or site inspections and the professional standards of reporting the findings

➜ the means by which project progress can be recorded and communicated

➜ the major methods of communication commonly used in property and construction

All modules are core modules

2 Marketing the Retail Asset Professional & Statutory Regulation

Multi-Channel RetailingValuation Context & Principles

3 Retail Asset Development, Sustainability & Simple ConstructionGlobal Retail Operations

Operational Facilities ManagementPortfolio of Learning from the Workplace


Indicative Content

1) Introduction to communication

2) Academic survival – how to reference and to survive in HE research

3) Writing essays and report writing

4) Listening, reading and making notes

5) Theory of communication

6) Drawings and their interpretation

7) Writing at work: structure, style and conventions in letters

8) Communication technology at work e.g. social networking

9) Email uses and abuses

10) Good style and usage

11) Telephone techniques

12) Presentational techniques

13) Keeping a log: portfolios

Assessment

Weighting

Assessments 1 & 2: Computer aided short answer exercises 30%

Assessment 3: Reports and summaries requiring reasoned answers 70%

Pass Mark: 40%

Core Textbook

van Emden. Joan. (2013) - Writing for Engineers (3rd edition) Palgrave Study Skills, Palgrave

Other Relevant Resources

➜ BBC Skillwise www.bbc.co.uk/skillswise/ [accessed 19 June 2013]

➜ CEM Study skills portal

People & Organisational Management

Aims

This module seeks to:

➜ explain the role and function of management within organisations in the construction, land and estate management industries, both public and private sectors

➜ explore the question “what is management?” and distinguish it from leadership

➜ consider the role of change as a central theme as organisations seek to come to terms with issues that are constantly impacting, both positively and negatively, on the people, management and the structures of businesses

➜ consider contemporary organisational behaviour as applied to the relevant sectors of industry.

Indicative Content

1) Defining organisations

2) Organisations and their business environment

3) Management

4) The development of management thinking

5) Perception and communication

6) Planning and organising

7) Decision making in organisations

8) People management

9) Groups and teams

10) Work motivation

11) Employment issues for international managers

12) Health and safety at work

13) Leadership

Assessment

Weighting

Assessment 1: coursework 40%

Assessment 2: examination 60%

Pass mark: 40%


Recommended Reading

➜ Mullins L (2013) “Management and Organisational Behaviour” Pearson Education, London

➜ Daft. L et al (2010) “Management” Cengage, Andover

➜ Cole, GA and Kelly, P ( 2011) “Management Theory and Practice” Cengage, Andover

➜ http://www.12manage.com/ – General international management site

➜ http://www.cipd.co.uk/default.cipd – UK based professional management institute

Introduction to Real Estate Practice

Aims

This module introduces the main principles of practice and law relevant to the efficient management of commercial property. The module focuses primarily on the management of leases but also introduces the different bases of building measurement used and basic rental appraisal. This module aims to examine:

➜ the significance of lease agreements from both the different landlord and tenant perspectives

➜ building measurement as a means of analysing buildings and as a means of undertaking basic rental appraisal

➜ the legal, regulatory and market constraints affecting the management of commercial property

➜ different interests of parties involved in property management and potential solutions to issues arising

Indicative Content

1) Freehold and leasehold tenure – the essentials of leases

2) Key covenants in business leases

3) Repairing and insuring buildings

4) Inspection and measurement of buildings

5) Service charges in commercial property

6) Health and safety in commercial property

7) Property management records and information systems

8) Commercial property management and sustainability

9) Tenant selection and letting

10) Rent and rent review

11) Introduction to rental appraisal

12) Termination of tenancies and leasehold remedies

13) Lease renewal Part 1

14) Lease renewal Part 2

15) Introduction to dispute resolution methods in commercial property management

Assessment

Weighting

Assessments 1 & 2: Computer aided short answer exercises 30%

Assessment 3: Reports and summaries requiring reasoned answers 70%

Pass Mark: 40%

Core Textbooks

➜ A Straightforward Guide to Managing Commercial Property ISBN 1-847161-53-7

➜ RICS Code of Measuring Practice, (6th Edn)


➜ RICS Books: Commercial Leases 2009. A Surveyors Guide ISBN 978-1-84219-432-4

➜ RICS Code of Practice: Service Charges in Commercial Property (2nd edn) (2011) – available electronically from iSurv via CEM e-library

➜ RICS Guidance Note: Insurance for Commercial Property Managers (1st edn) (2010) – available electronically from iSurv via CEM e-library

➜ Stapleton’s Real Estate Management Practice ISBN 0-7282-0482-7


Marketing the Retail Asset

Aims

This module provides an outline of the principles of marketing, which, in the contemporary competitive retail environment, is assuming ever increasing importance. The module considers retail assets becoming a brand in their own right and explores brand image development and exploitation. The module explores the many disciplines which contribute to the effective marketing of shopping centres from a business to business and business to consumer perspective, covering such topics as leasing, communications, public relations, mall events and promotions, new research techniques, e-commerce, permission marketing, customer relationship management and customer services. This module aims to:

➜ develop an awareness of the general concepts of the commercial letting process and the marketing and promotion of retail assets from a business to business perspective

➜ outline and develop the theories and practicalities of the various disciplines

Indicative Content

1) The management of the B2B and B2C marketing of retail or retail-led mixed use assets

How retail asset marketing is managed on-site; marketing scenarios; differentiation; branding; positioning; relaunching and rebranding.

2) Strategic market planning

Development of an asset ‘Stacking Plan’ to manage the B2B marketing function which is informed by situation analysis using SWOT analysis; goal/mission statement; objectives and strategy; implementation; budget; evaluation.

3) Market research

Definition of market research; the role of market research in the retail asset business; research methods; shopping centre measurement – catchment, visitor numbers, shopper profiling, advertising evaluation, retailer research; putting it all together; case study: profiling shoppers; case study: brand positioning campaign; market research terminology; summing up.

4) Marketing communications

Importance of communication; advertising; public relations; direct marketing; using outside services.

5) Events and sales promotions

Implementation and event management; event categories; a practical guide to centre promotions; key considerations; sales promotion.

6) Non-rental income

Basic definitions and principles; non rental income categories – leasing, services, advertising, promotional, sponsorship and strategic alliances, IT and telecoms.

7) Customer services and working with retailers

Customer services and their relationship to marketing initiatives; culture, people and management; understanding the shopper and their needs; the consumer shopping experience – the journey; working with retailers to deliver a better service.

Assessment

Weighting

Assessments 1 and 2: Two computer marked assessments 30%

Assessment 3: Project or case study work with reflective commentary (3,000 words) 70%

Pass Mark: 40%

Core Textbook

➜ Dennis, C (2004) Objects of Desire: Consumer behaviour in shopping centre choices, Basingstoke: Palgrave Macmillan. eISBN-13 9780230509481

Professional Online Resources

➜ https://www.bcsc.org.uk/research_education/research

➜ http://www.cim.co.uk/learning/study-centres


Multi-Channel Retailing

Aims

This module provides an insight into retailers and the dynamic retailing methods and their application in retail and retail-led asset classes. This will provide the knowledge and understanding of retailing, the appreciation of which is an essential skill for retail asset and shopping centre management. This module explores the world of retail and seeks to improve the understanding of how retail works and what makes retailers tick. Students will develop their understanding of retailing and how this is important for store managers. Additionally, the module will explore areas of customer service provided by the shopping centre and how such a service benefits both the retailer and the landlord. This module aims to:

➜ explore the dynamic world of retail and the latest changes which impact both the retail and retail property sectors

➜ investigate how retail works

Indicative Content

1) Retailing dynamics

An overview of the various types of retailing and their evolution to the present day, the relationship between the various types of retailing and the financial implications for the retailer in ensuring the correct balance. This would include high streets, shopping centres, retail parks and internet retailing.

2) Shopping centre managers and retail managers

An outline of the key performance indicators by which most retailers are managed. An examination of the similarities and differences to shopping centre managers’ KPIs and an indication of which issues will create the best joint outcomes as well as potential areas of conflict.

3) Retail network optimisation

The considerations behind where retailers open stores, the size of these, the offering in these stores and how these stores are part of a multi-channel proposition.

4) Principles of merchandising

The principles of merchandising and how they vary by type of retailer and by target customer. Examples of how retailers merchandise their stores to allow their customers to fully understand the brand, range and products on display.

5) The retail supply chain

The principles of supply chain and logistics management allowing stock to be sourced, manufactured and delivered quickly and profitably.

6) Sales, selling and promotions

A summary of the retail sales year and how retailers manage sales and promotions. An explanation of how retailers train and incentivise their staff to sell the correct product to customers.

7) Understanding retail finance

The factors which affect the finances of a retail business and the items which need to be managed to maximise profit.

Assessment

Weighting


Assessment 3: Coursework (3,000 words) 70%

Pass Mark: 40%

Core Textbook

➜ Niemeier, S, Zocchi, A and Catena, M (2013), Reshaping Retail: why technology is transforming the industry and how to win in the new consumer driven world, Chichester: Wiley eISBN 9781118698822



➜ https://propertymanagersassociation.com/home.php


Contract and Lease Management

Aims

This module provides the knowledge to enable students to understand common basic English legal problems relating to contracts and leases including such matters as termination of leases and the liabilities of both landlord and tenants. This module aims to:

➜ demonstrate how to study law effectively

➜ develop an understanding of the principles of contract law

➜ develop an understanding of the principal landlord and tenant statutes and regulations, and their application in the retail and mixed-use asset classes

➜ provide a broad insight into, and a general understanding of, using the law as it applies to practical issues in contracts and leases in retail and mixed-use assets

➜ enable the student to become the ‘intelligent client’, able to understand the principles relating to the law and knowing when to call in an expert to handle a legal matter.

Indicative Content

1) Studying contract and lease management – putting it into perspective

An introduction to law based study.

2) The law of contract

The nature of contracts; essentials of a valid contract; basic rules of contract; factors affecting validity of a contract; ending a contract; exclusion clauses – their nature and effect.

3) Essentials of landlord and tenant

Definition of and essentials of a lease; relationship between landlord and tenant; power to grant leases; types of lease; forms and formalities; agreements for leases; differences between a lease and a licence.

4) Business tenancies

What constitutes a business tenancy; termination; procedures for renewal of a lease; landlord’s grounds for opposing a new tenancy; powers of court; compensation for disturbance and tenant’s improvements on non-renewal; RICS Code of Leasing Practice.

5) Rent reviews

Reasons for rent reviews; the hypothetical tenancy; practical issues.

6) Breach of covenant

Definition of a breach; procedures; going to court; practical issues.

7) Buildings and their repair

What are the obligations for a landlord and a tenant: repair, maintenance and renewal; dilapidations.

Assessment

Weighting



Pass Mark: 40%

Core Textbook

➜ Shapiro, E, Steele, K and Freedman, P (2006), Business Lease Renewals: The New Law and Practice, London: E G Books ISBN 07282 04789


➜ http://www.estatesgazette.co.uk


Professional & Statutory Regulation

Aims

This module introduces critical aspects relating to professional conduct and aims to develop students’ professional skills in preparation for professional membership. The module aims to examine:

➜ client care

➜ ethical behaviour

➜ health and safety

➜ communication and negotiation

➜ conflict avoidance

➜ key professional legislative landscape

Indicative Content

1) Requirements of professional bodies for Associate level membership

2) Client care – understanding the client; appropriate behaviours

3) Client care skills

4) Client care – systems and processes

5) Presentation skills

6) Negotiating skills

7) Persuading and influencing skills

8) Business and professional ethics – national and

international perspectives

9) Professional codes of conduct

10) Negligence

11) Conflict management

12) Principles of dispute resolution

13) Key legislation landscape for built environment professionals

14) Health and safety legislation

15) CDM regulations

Assessment

Weighting

Assessment 1: Coursework comprising report or presentation using appropriate media 40%

Assessment 2: Examination 60%

Pass Mark: 40%

Core Textbook

Hirst, Christina, (2011) Ethics and Professional Conduct for Chartered Surveyors 2nd edition, RICS Books, London, ISBN13: 9781842196267


➜ www.hse.gov.uk

➜ Mirsky, R and Schaufelberger, J (2014) Professional Ethics for the Construction Industry Routledge ISBN 9780415677523

Valuation - Context & Principles

Aims

This module sets property valuation in the broad economic and financial context, and examines the purpose of property valuations. It considers the stakeholders in the valuation process and regulatory, ethical and sustainability issues. It also provides an overview of the main valuation methodologies. This module aims to develop understanding of property as an investment; the property valuation process; the purposes of valuation; users of valuations; and the role of the RICS in regulating and guiding valuation members. It also addresses the nature of ethics and ethical issues with reference to the valuation industry and raises awareness of sustainability issues for property valuers.


Indicative Content

1) The property market

2) Property as an investment

3) The purpose and use of valuations

4) Ethics

5) Professional codes

6) The RICS Red Book

7) An outline of the five methods of valuation

8) The Comparison Method

9) The Investment Method

10) The Residual method

11) The Profits method

12) The Cost based method

13) Sustainability and valuation

Assessment

Weighting

Assessment 1: Coursework 40%

Assessment 2: Examination 60%

Pass Mark: 40%

Core Textbook

Blackledge M. (2009) Introducing Property Valuation Abingdon; Routledge

Retail Asset Development, Sustainability and Simple Construction

Aims

This module provides an introduction to retail asset development, sustainability and the management of simple construction and retail fit-out. It comprises: communicating, simple building parameters in small works projects and the management of retail fit-out.

An overview of the retail development process from feasibility through to operational launch is provided. Reference will be made to sustainability and product life-cycle planning throughout the development and setting to work process. The simple construction element will explore the aspect of managing the tenant fit-out process. This module aims to:

➜ provide an introduction to, and overview of, the retail development process

➜ explore the opportunities for enhancing sustainability at each stage of the development and operational life cycle

➜ develop project management skills appropriate to the management of small construction projects and the overseeing of tenant fit-out works

➜ develop competence in the skills of communicating; essays, sketching and simple drawing interpretation as well as presentation and project management of time-bound works


Indicative Content

1) Retail asset development – feasibility

An introduction to the process behind establishing the viability, type and size of retail asset required.

2) Methods of funding retail, or mixed-use developments

The types and sources of funding available including the role of the developer in loan syndication; the enhanced value created through active management.

3) Sustainability

An examination of the various aspects of sustainable development as well as sustainability issues from an operational perspective; the life-cycle perspective of the development and its component parts.

4) Tenant Fit-Out/Delivery

The various aspects of the management of tenancy fit-out of both new and existing property assets and the disciplines required within a fit-out project team.

5) Project Management

The practical issues of project management of simple construction and small works programmes through to the management of tenant fit-out of a newly created asset.

6) Effective Communication

The various communication forms required during the development of a retail or mixed use asset and how best to manage such communications.

7) Buildings and their repair

The obligations for a landlord and a tenant; repair, maintenance and renewal; dilapidations.

Assessment

Weighting


Assessment 2: Examination (2 hours) 60%

Pass Mark: 40%

Core Textbook

➜ Pitt, M, and Musa, Z N (2009), Towards defining shopping centres and their management systems, Journal of Retail and Leisure Property (2009), Palgrave Macmillan


➜ http://www.estatesgazette.co.uk

Global Retail Operations

Aims

This module provides an insight into global retailer operations and the methods and their application in retail and retail-led asset classes. It provides the knowledge and understanding of retailing, the appreciation of which is an essential skill for retail asset management and senior management of shopping centres.

This module explores the processes employed to achieve operational excellence. It will focus on:

➜ lean retail

➜ frontline operations

➜ multichannel and online operations

➜ franchise and licensing

➜ retail real estate.

This module aims to:

➜ explore the dynamic world of retail operations and latest changes which impact on both the retail and retail property sectors

➜ develop understanding of how retail works at a more strategic level

➜ examine the key aspects of retail operations, as well as the forms of trading with partners through franchising, licensing, and distributorship, whilst highlighting the implications for the retail property asset

➜ consider the objectives of retail asset and shopping centre management and how these must align closely with those of the retailer for an asset to be successful


Indicative Content

1) Retailing trading formats

The various trading formats/business structures commonly used when considering international expansion. A review of the advantages and disadvantages of franchising, licensing and distributorship. The relationship between the various types of retailing and the implications for the retailer, including financial. The impact upon the relationship with the property owner in the form of leasing implications.

2) Expansion and market entry

An overview of the various stages of consideration in respect of retail expansion and market entry. This includes the various types of research and analysis which may need to be undertaken to appropriately evaluate the opportunity for expansion.

3) Retail branding and brand awareness

Entering different geographic markets has a considerable impact upon the brand. Additionally, creating brand

awareness and brand equity within a short period of time can be a challenge. This module explores a case study of regional market entry of a major retail chain, the translation of its brand values and the cost of getting it wrong.

4) Retail purchasing and product selection

This topic provides an insight into the retail ‘buying’ cycle for various different sectors and in particular, how this impacts upon their timeline for marketing, promotional and sales activities. An understanding of this area is important for the managers of retail destinations in order to optimise the benefits of marketing activity planning.

5) Market withdrawal

Global expansion has its drawbacks and there may be occasion when the retailer wishes to withdraw from a particular market. Such reasons are considered together with the strategies for withdrawal which are frequently employed. An understanding of this area will assist the managers of retail assets in predicting and perhaps averting the loss of a key international brand from the tenant mix.

Assessment

Weighting


Assessment 2: Compilation of project or case study work with reflective commentary (5,000 words) 70%

Pass Mark: 40%

Core Textbooks

➜ Rudolph, T (2012), European Retail Research, London: Gabler, Springer (distributor) eISBN-13 978383494 2371

➜ Ilan, A (2010), Franchising Globally: innovation, learning and limitation, Basingstoke: Palgrave MacMillan eISBN-13 9780230289857



➜ http://www.brc.org.uk/brc_home.asp

➜ https://propertymanagersassociation.com/home.php

Operational Facilities Management

Aims

This module aims to:

➜ provide the student with a good appreciation of the function and scope of facilities management (FM) and its relevance and importance to business management practice

➜ facilitate an understanding of the benefits that can accrue to business performance through devising, implementing and managing an FM strategy

➜ develop in the student an initial understanding of the breadth of issues within facilities management

➜ explore the underlying methods and approaches utilised by facilities managers

➜ show how a business can benefit from creating a synergy between the role of the facility manager and those of the other typical business disciplines (e.g. real estate and construction)


Indicative Content

1) History of facilities management

2) Definition of facilities management

3) Facilities management seen as co-ordinated management

4) Interlinking the main elements of FM

5) Preparing a model to audit other occupant and building services

6) Services procurement options

7) Core and non-core business activities

8) FM resource decision-making framework

9) The concept of the support environment

10) The concept of alignment

11) ICT and the support environment

12) Collaborative business relationships

Assessment

Weighting

Assessment 1: Coursework/case study (3,000 words) 40%

Assessment 2: Examination (2 hours) 60%

Pass Mark: 40%

Core Textbooks

Alexander, K (2005), Facility Management: Innovation and Performance, Spon Press, London

Booty, F. (2009), Facilities Management Handbook, A Straightforward Guide to Managing Commercial Property, London: Butterworth-Heinemann ISBN 1-847161-53


http://www.estatesgazette.co.uk

Portfolio of Learning from the Workplace

Aims

This module requires students to demonstrate the relationship between relevant knowledge, skills and techniques acquired through the programme and the study of professional practice as derived from a workplace, and to communicate details of the experience gained and (where appropriate) competence developed through the preparation of a portfolio. This module aims to:

➜ recognise the learning achieved through engagement with the workplace or study thereof

➜ assess how academic principles and professional practice may be integrated in the workplace

➜ demonstrate core professional competencies and appropriate professional conduct

➜ promote reflection upon the contribution of this experience to personal and professional development

Indicative Content

The content of the portfolio will be unique to each student, derived from their individual experiences and their choice of examples

Assessment

A portfolio incorporating:

1. A learning diary of the professional experience engaged with through either direct employment or ‘shadowing’ or other means of observation, compiled over the duration of the programme. The use of an e-portfolio to store, assemble and present content normally will be required.

2. A personal reflection of c.1000 words providing a commentary on the contribution to professional and personal development arising from the interaction between the experience recorded and the content of the course.

Pass Mark: An assessment of Satisfactory for item 1 and a minimum of 40% for item 2



➜ University of London (undated), Five Day Learning Diary. Available at http://www.london.ac.uk/fileadmin/documents/staff/staff_development/diary_law.pdf [accessed 3rd June 2014]

➜ University of New South Wales (undated), Reflective Writing. Available at http://www.lc.unsw.edu.au/onlib/pdf/reflective.pdf [accessed 3rd June 2014]

➜ University of Portsmouth (undated), Reflective writing: A basic introduction. Available at http://www.port.ac.uk/media/contacts-and-departments/student-support-services/ask/downloads/Reflective-writing---a-basic-introduction.pdf [accessed 3rd June 2014]

➜ University of Worcester (2007), Study Skills Advice Sheet (Learning Journals) Available at http://www.peicpt.com/sitefiles/File/Portfolio/LearningJournal.pdf [accessed 3rd June 2014]

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