Tag Archives: strategy

Review of strategy is important for the growth of a construction company

We often consider planning to be one of the most important components towards the growth of a business but there is something that is equally important and that is reviewing those plans. It makes absolutely no sense to prepare a plan if we do not take care to review it. Things may go haywire and we will not even get to know about it as long as we do not sit to check the ground reality. This is why reviewing the plans is very crucial for the growth of any company. It becomes all the more important when one is take care of his construction business. This form of the business has too many ups and downs in it and one has to go through a lot of hardships to put everything in place. To set things right, a lot of people have to get involved in various sets of planning and knowing the nature of the business which is pretty dynamic and where anything can happen at any moment, one needs to make sure that he keeps on checking if the actual are in sync with the proposed plan and if not take corrective measures to set it right.

Involving all the head of departments for setting the plan:-

When you are building a plan, it is essential that you involve the heads of all the departments so that they can all give their inputs pertaining to the cause of the plan. You can have deep insights from them about how the department can perform and if there will be any requirement of additional workforce in the due span. You can rely on their advices and then go about framing the plan. In this way, they all will be aware of your goals and then it just will not be your goal but will become the goal of the company. It is not just you who will be working hard to realize the goals but your entire team will be with you.

Have a quarterly meeting with all of them to check the actual:-

Reviewing of plans should be conducted once in 3 months. This lets us know the real picture from the proposed one and what needs to be done to get things back on track if at all it is out of place. It also ensures that things do not completely out of hand which is possible if you take up the same meeting after a year. You will probably find that the damage has become irreparable and may have to start all over. That will be a sad part for the management also a question on your leadership quality.

Check area of opportunities and eliminate threats:-

It is only during the review that you get to know the possible threats that exist and can act as a big danger to the project. You can’t get to know the threats while you chalk out the plan. In the same way, while you start working on a plan you also come to know if there are any more opportunities that you can explore. Pick up all the opportunities and try and eliminate the threats.

Buy Now on eBay

[ebayfeedsforwordpress feed=”” items=”3″]

Stagnancy in construction business – It’s time to review your strategy

Forming strategy is a part of every industry and all kinds of businesses. You have to plan few things in advance by assuming how the situation could be in the next few days, months or years. A person who has been running a business for years and has seen many ups and downs of the business can make little mistake in assuming the market trends and on the basis of his assumption, he can form a strategy. However, what can one do if he finds that his strategy is not working and the business is still stagnant and waiting for the push.

Well, it means that it is time to review your strategy and probably re-plan things. It is not at all necessary that what you have assumed will turn out to be correct. Many a times, the most experienced guy in the industry does mistakes in estimating how the market will react in the next few months. Future is unrealistic and it may be utmost difficult for anybody to predict things precisely. We can follow the past trends but based on those trends deciding the future trend is not possible. Playing a bigger bet just by predicting the future is just not advisable and definitely not advisable when you are running a construction business. But that does not mean that you will stop estimating things and will desist from laying strategies.

When you are in the construction industry, you take into consideration advices from all corners. Right from market experts to your fellow workers, any suggestions coming from whatever side can be sheer effective. Therefore, you should keep your ears open to their advices but take rational decision and should not just go just by their words. Give your thoughts to the entire version as it is important to know what others think about the construction market.

Just in case, if you were doing well in your business and all of a sudden you experience stagnancy, then it is a matter of worry. You should act immediately or else the stagnancy has the potency to eat away your business and you might end up losing everything that you have. What becomes important for you do is review your plans and check what is not going as per the plan and if at all you need to bring any kind of changes, be flexible enough to adopt and adapt to the changes.

Stagnancy in the construction business can be due to several reasons. Rise in fuel price can also affect your business in a larger way. You also got to keep a close watch on the client relationship. Many a times, it has been seen that you stop getting business from clients as they have got hooked with some new construction company. A fall in the quality of work can be one of the reasons behind the change of business. It is very crucial that you do a Root Cause Analysis (RCA) and check all the possible reasons that could have led to the stagnancy in your business and once you have found the problem, waste no time in uprooting the issue once and for all.