FMI, the largest provider of management consulting and investment banking to the engineering and construction industry, releases its newest study "Adjust, Adapt, Act: Winning Stories From the Post-2007 Construction Industry."
The paper explores several case studies, including Sun Country Builders, Huen, BakerTriangle, Consigli, Skender Construction and Flatiron, and distills the key factors that make these companies unique and successful. The article also summarizes thoughts and insight from senior FMI strategy experts on success strategies that have become crucial in running a profitable construction business, as well as common mistakes, which can lead to failure in today's cutthroat environment.
Select success strategies discussed in the paper include:
- Get into the heads of your clients – early
- Reinvent yourself and innovate. Find what makes you unique
- Be smart about diversifying your portfolio
- Be nimble and flexible, yet disciplined. Never get complacent
- Understand "incremental economics" – revenue, margin, overhead – more than ever
- Bring creative financing solutions to the table
- Build contingency plans into all corporate strategy discussions and never stop looking ahead.
Key highlights include:
- Case studies on successful companies
- Business imperatives for a volatile economy – thoughts and insight from FMI consultants and study participants
- Common mistakes – summary of most frequent strategic mistakes witnessed by FMI consultants
- Conclusion and recommendations
To download a copy of the full report, click here. For reprint permission or to schedule an interview with the author, please contact Sarah Vizard at 919.785.9221. BD+C
Related Stories
| Dec 6, 2014
Future workplace designs shouldn’t need to favor one generation over another, says CBRE report
A new CBRE survey finds that what Millennials expect and need from offices doesn’t vary drastically from tenured employees.
| Dec 5, 2014
Plotting on the go: 3D-printed mechanical compass can print CAD drawings with high precision
Design student Ken Nakagaki has adapted a device to work with CAD software to replicate digital files on paper.
Sponsored | | Dec 5, 2014
New construction outlook report projects growth in 2015
A new 2015 construction outlook report predicts that total U.S. construction starts for 2015 will rise 9% to $612 billion. SPONSORED CONTENT
Sponsored | | Dec 5, 2014
Best practices for force transfer around openings
As wood-frame construction is continuously evolving, designers in many parts of the U.S. are optimizing design solutions that require the understanding of force transfer between elements in the lateral load-resisting system.
| Dec 4, 2014
World’s largest eco-resort to open soon in Indonesia
Just under 10 miles away from Singapore, Funtasy Island (yes, that's the real name) is a resort tucked away in the mangrove islands of the Riau archipelago.
| Dec 4, 2014
£175 million 'Garden Bridge' gets the green light to cross the Thames
Westminster Council has approved a £175 million 'Garden Bridge' that will allow pedestrian traffic only. There has been some controversy about this bridge, which is expected to attract seven million visitors annually.
Sponsored | | Dec 3, 2014
Modular Space Showcase: Bringing work-life balance to energy workers in the Bakken region
To meet the demands of the booming energy business, Williston needs to provide homes, recreation centers, restaurants, hotels, and other support facilities for the tidal wave of energy workers relocating to the Bakken Shale area. SPONSORED CONTENT
| Dec 3, 2014
U.S., Canada, and Mexico finalize agreement to recognize architect credentials
The agreement represents over a decade of negotiations, bringing cross-border recognition of professional credentials from concept to reality in the spirit of the North American Free Trade Agreement.
| Dec 3, 2014
35 cities added to Rockefeller Foundation's 100 Resilient Cities Challenge
Chicago, Dallas, and Pittsburgh are among the U.S. cities to join the 100 Resilient Cities Challenge, pioneered by The Rockefeller Foundation.