Business Management in Sustainable Buildings: Ankara-Turkey Case

Abstract

The concept of the sustainability is described as efficiently and effectively consuming of exhaustible and recyclable sources of the world. A sustainable building implements sustainability criteria in its life cycle, and business management is the process by which an organization uses its resources in the most efficient way to reach its goal. From the beginning, sustainable building proves their differences from the conventional buildings. Sustainable buildings are resource-efficient and environmentally responsible structures in terms of energy consumption, construction principles, siting, renovation and maintenance throughout its life cycle while conventional buildings are more traditional in these matters. The differences are observable especially in costs and expenditures. It is possible and feasible to compare and contrast the design, construction and management costs of both types of structures. Thence, contributions of sustainable buildings are priced favourably in terms of ecological and sociological aspects. In this context, a prospective projection can be made considering the extra costs of sustainable structures, as well as the consumption profits due to the use of less energy than conventional construction. Considering this, it is possible to project consumption savings in long term. By calculating a forward-looking net cash flow projection, it can be forecasted how much time it will take to cover the extra cost. When making decisions, investors always contemplate maximum profitability. Within the scope of this study, costs of sustainable and conventional buildings will be compared and contrasted through precedence of a sustainable building certificated and non-certificated building. It will be analysed in which time period the initial cost difference between them will be compensated totally and partially. Furthermore, an efficiency analyses will be done in the scope of the necessities and expenses of these businesses.