Q: Give an example of a business challenge your organization faced and how you overcame it.
Developers Diversified is an owner and manager of retail shopping centers. Over the past few years as employment has suffered and consumers reduced their spending the company was severely challenged with tenant bankruptcies and declining occupancy in its shopping centers.
We reacted quickly to secure financing, reduce debt, restructure the organization to focus on releasing spaces at our shopping centers, and returning the company to stability and growth. We overcame our challenges by working together toward clearly stated goals and objectives.
Q: How does your organization employ innovation to be on the leading edge?
Innovation is a core value at Developers Diversified and is part of the company’s culture. Our organization rewards creative thinkers who not only conceive of a new idea or process improvement, but have the wherewithal and tenacity to apply it to the business.
Q: What is the greatest lesson you’ve learned and how have you applied it?
The greatest lesson I’ve learned is to hire talented people and provide them the resources to be successful. The best leaders delegate to people with exceptional skill in specific areas of expertise.
Q: How does your organization make a significant impact on the community and regional economy?
Developers Diversified employs more than 400 people locally, which itself is a significant contribution to the local and regional economy. A far greater impact, however, is that many of our employees serve on nonprofit boards, volunteer and are active in many other ways in our community. We encourage and support this activity at every level.