Olitzki Property Holdings Catalyzes Change in Johannesburg

Description

The large-scale abandonment of property in inner-city Johannesburg had brought waves of crime, illegal building occupation and general disinvestment. The founder of Olitzki Property Holdings (OPH) saw that an improvement at a precinct level, through carefully constructed partnerships with government, other property owners, tenants and illegal residents, was the key to building a sustainable, inclusive and socially grounded entrepreneurial business. OPH identified and bought derelict or illegally occupied buildings, then renovated and leased them to a combination of blue-chip and start-up businesses. While there was no doubt that OPH was profit focused, the ability to see the important role of development was a cornerstone of its success. Could the company — and the city — expand and maintain that success?

Learning Objective

The three main topics for consideration in this case are: ·Entrepreneurial ecosystems: Students will gain insight into how to develop and engage with multi-stakeholder ecosystems as a crucial precursor to entrepreneurial success. ·Inclusive business models: Students will gain insight into how to develop innovative business models that promote inclusivity but retain an entrepreneurial edge. ·Effectual and causal thinking: The case provides a unique example of an entrepreneur who exhibits both effectual and causal thinking. The nature of property development lends itself to a more planning-oriented causal approach; however the unusual context in which this company operates dictates a more flexible effectual approach.

Keywords

Change management Stakeholders Urban development