CREAM in the telecommunications, media and technology sector
This chapter examines what the technology sector (TMT) sector companies look for in a property, and why. It considers how real estate drives the performance of these businesses. The chapter draws out themes of Corporate Real Estate Asset Management (CREAM) and focuses on the TMT businesses. The case study concerns the telecommunications, media and technology sector (TMT), once referred to as telecommunications, media and new technology (TMNT); one might still see it called such in older material. The sector includes broadcasting, publishing, new media, graphic design, advertising, marketing, public relations, information technology, hardware development, web development, app and software development, digital marketing agencies, telecoms and media. The model is slightly more complex because DiMaggio and Powell recognise three different types of this isomorphism. Mimetic isomorphism describes the basic working of the model, where in a typical market-based sector exhibiting uncertainty, the lack of any obvious technological, procedural and client-demanded security sought by risk-averse business is a mechanism for encouraging conformity.