Business Integration and Evaluation: The XYZ construction company - Essay Example

?BUSINESS INTEGRATION AND EVALUATION Task: Business Integration and Evaluation Introduction XYZ Construction Company is currently based in the USA and is a private company, meaning that it does not offer public services. The company h as in recent times exhibited augmenting growth due to its lucrative nature. Thus, it plans to expand globally to offer its services on a wider scale. Due to these plans, the proprietors are planning to launch their first IPO. Due to this initiative to go global, the proprietors are taking extremely careful steps to ensure that they design an innovative and workable strategic plan that will guide them on the proper way forward to their future prospects (Davis, 2008). To achieve an ingenious plan, they would like to inculcate the following in their strategic prospect: marketing, operational and workforce management, business structure, international operations, accounting and financial management, legal considerations and compliance, internal evaluation and control, information and leadership technology as discussed in this document. Marketing In order to realize affluence in marketing by XYZ Company, there is dire need to inculcate various aspects of marketing that enhances the market and expands it for the benefit of both the community and the proprietors themselves. Face to face selling is an adept marketing strategy, which includes superficial and direct marketing where the company’s marketing department involves itself in accomplishing important and short-term tasks that progressively improve the market outlay of the company. Face to face selling includes asking questions to seek intelligence where the company will focus all its energy to seek for ways of helping and boosting the clients who help to promote the company. Use of strategic referral systems to dig for important prospects and be able to venture completely and tap the market will be applied. The company will devise on effective modes of distributing their business cards to make the company known to many clients. The company will need to create or join joint ventures with other companies offering similar services or different companies such as the banks in promoting its prospects and attracting clients to enter into business with XYZ. XYZ can also join strategic alliances with other proprietors to ensure security and obtain support. It is recommendable that it joins such ventures and alliances in acquaintance with trusted and appraised companies. By utilization of reversal and positioning techniques to positively modify their promotion strategies. The company also needs to include the aspect of direct response to its clients, which boosts the rate of marketing and performance. This marketing ideology explodes and elicits favorable results when initiated (Naoum, 2001). The aspect can be enforced through delivery of offers to clients and calls of action in the entire marketing strategies (Davis, 2008). Manipulation of the media and the internet to advertise their prospects and printing of brochures, flyers, posters, periodicals, magazines and other print resources is also an oriental marketing strategy that should be applied. Workforce and Operational Management The XYZ construction company is committed to indulge in education of the workforce in an effort to enhance their service delivery as the company goes global. Every single department in the industrial sector in the company will inculcate their specific and favorable initiatives and strategic actions to address their challenges and economic constraints that are likely to drag the company backwards. With liaison with the government, the stakeholders will work together to establish workforce strategies specific to this sector of the industry. This education will aid the workers to innovate and design initiatives that will build a viable company. Due to the imminent shortage of construction workers, the company will collaborate with the public sector to train more workers. Cooperation of stakeholder is required in the industry to ensure success in the process of workforce strategic management. The company shall also focus on upgrading the key operations management activities and services in its dispensation to ensure good and positive relationship with the clients, the workforce and the other companies operating in the same market parameters. An adept business outline is inculcated to ensure fruitful business transactions with the clients and other corporations. In the sectors of project management, the company will concentrate on enhancing the project managers and their workforce with proper resources to ensure viability in project handling. With directives that spell out the cost of construction equipment, the company will be able to effectively manage its assets and retain good market relations. The finance department will deal with critical analysis of the stock indices of the company, while trend analysis and effective benchmarking. Initiation of IT and management of systems will be effective in reinforcing the company’s operations. Organizational Structure For resultant effective project management and fruitful operations in the company, an innovative organizational structure is unavoidable. The company workforce is organized into a hierarchical arrangement whose members ought to work together as a team, with a common vision and mission, to aim jointly at accomplishing their best and producing the best results in the company for the benefit of the society, the company and themselves in the construction sector. The top position in the organization structure outline is the General Manager or the C.E.O. The subsequent positions are given to the management and supporting personnel in a progressive manner to the lowest available in the organization. The chart depicts the management and structure of the XYZ construction affiliation to help in the administration and awareness among the workforce. The chart is a basis of evaluating the performance of the individual employees and prediction of their future performances, to aid in proper management and administration (Atallah, 2006). The management is the ultimate level of organization, which comprises of a chairperson, the board of directors, the general manager and all the directors of the administrative and technical departments in the company. The managerial body is the ultimate and participates in the board meetings and conferences to discuss matters pertaining to the operations of the company. The project managers, the administrative group and the H.R.M department follow in the hierarchy. Sales departments and customer care representatives are also included in this level. Supervisors are employed by the company in the course of construction projects to hire and inspect the quality of work delivered. The lowest group comprises the laborers who are kept in the company work records for convenience purposes (Naoum, 2001). International Operations Due to increase in the effect of globalization in contemporary times, most companies have opted to go global. Similarly, the XYZ construction affiliation is not an exception. Due to the dichotomy in various factors such as culture, level of risks, resources, market, entry plan among others, between the global level and the basic domestic level, the company has enhanced its international operations by inculcating and employing ingenious applications of internal operations to tap the available resources exhaustively. On global basis, the XYZ Company is employing critical strategic focus on augmenting its profitability and overall competitiveness. This is through increment of its own construction projects in abroad by a consummate amount through contracting with other governments and private sectors in construction projects. To ensure that it obtains the better part and advantage in the operations, it employs adept staff and faculty through intensive education and workforce motivation to elicit full participation and effective working, catching up with the leading construction contractors in terms of competition. Additionally, the company has been creating legitimate business relations in most countries to gain support and favor from them. Advertisements and intensive, marketing strategies employed through the utilization of the media has been considered fruitful and promising. The company has also applied similar innovative marketing principles on international scale to elicit favorable contracting and obtaining of clients who go a mile to invite others due to the services offered. Employment of competent staff also results into quality service delivery, which in turn enhances the company’s international operations (Atallah, 2006). Financial and Accounting Management Accounting procedures and financial management in the company requires experienced personnel who are able to handle these processes with competence, care and perfection. This serves to avoid many inconveniences and probable flaws in the treasury or the financial departments of such companies (Hugh & Miramontes, 2004). Additionally, the busy and engaged nature of the workforce of the construction industry working on projects leaves meager time to go through the accounts and the progress in the financial status of the company. Other activities such as payment of employees, purchases of technical equipment and company assets and the share indices of the company add on to the numerous tasks that are evident in the construction industry. XYZ construction affiliation is not an exception. Therefore, to avoid unnecessary hitches and miscalculations in the accounts, department, the organization employs adept staff that is centered in an accounting hub, where their main tasks are to do the accounting bits of the company and analyze numerous aspects that apply in these departments, taking scrutiny to the financial performance of the affiliation (Atallah, 2006). The clients and the payment details hold the accountants and related staff accountable for every financial issue that arises to make the company immune to invisible losses through backlog of cheques presented for the workforce. With such a foolproof organization in the financial department in the XYZ Company, major flaws brought about by miscalculations and errors in calculations are avoided with the company finances being managed and budgeted on appropriately. The company assets are also taken care of by the employees in the accounting and financial departments (Hugh & Miramontes, 2004). Compliance and Legal Considerations The XYZ Company employs only USA citizens and the aliens allowed to work in the USA with no regard to any king of discrimination or prejudice of any kind. It does not in any way discriminate the potential employees founded on their origin or citizenship either. It therefore avoids discrimination at all costs and values all the qualified workers who submit their job applications to its dispensation. To comply with the immigration act for reform and control act stipulated in 1986, it requires all the applicants to fill a form as required by that particular act. The forms range from one to nine and all have to be completely filled honestly to determine eligibility for employment. Former employees of the XYZ Company are required to refill the form if it is not available or if the employee has been out of work for more than 3 years. Additionally, employees are advi9sed to be free to ask question on the compliance of the act without reprisal of fear. The questions are to be presented to the HRM department only. Employment of related people in the same department can cause issues of partiality or disagreements in that particular department. As a result, XYZ has a mandate to apply scrutiny in those departments with relatives working together. On identification of a quandary related to the above, mentioned case, reassignment or discontinuation of one of the involved is imminent. Internal Control and Evaluation The control of the environment is the resultant attitude and tone set by the top management, board of directors, managers from all departments and the highly ranked administration of the entire company. This affects the manner in which the employees under the authority of the highly ranked officials behave and carry out their processes. The administration may follow a certain procedure of form of internal controls that may affect the morale of the workforce either positively or negatively. In the XYZ company, favorable internal controls to elicit the best results out of the workforce as this is extremely important and oriental to boost the company in its endeavors to expand its territories globally (Davis, 2008). Because of the dire need for favorable internal controls, the administration has educated the entire staff on how to handle various situations in their working environment, which enhance their delivery to the success of the company (Naoum, 2001). Management comes from different departments of the company rather from selected faculties. This enhances effectiveness of the entire affiliation enhanced from the basic departments. A profound degree of etiquette and discipline by the members is highly stressed. Employees, therefore, respect authority and are responsible in their work. Evaluation of the workforce is done by the HRM and respective actions taken regarding the outcome of the evaluations. Additionally, the overall performance of the company is closely scrutinized in terms of the market feasibility, profitability and other financial factors. Information Technology Inculcation of computer programming in management strategies is becoming a major prospect in modern construction companies to ease the working of the entire management and workforce. ITC has been oriental since it inculcates the use of OOP in its working. Construction designs are generated instantly by application of software that is created to adeptly do this. Therefore, involvement of the modern technology, ICT, which comprises of OOP and networking of departmental, regional and international offices, makes it a success. To evade the difficulties in effective communication between contractors and designers, XYZ has inculcated the use of numerous software and adept systems that aid the designers and contractors to practice their work remotely without the need to meet face to face in their deliberations. ICT has also gone a long way in upgrading the accounting and payroll systems where the accountants use software to store critical information and accomplish complex calculations. With the advent of the ICT in the construction industries, education of staff has been made easy in the XYZ Company through enhancements such as videoconferencing and e learning. XYZ administration through ICT, has inculcated E-commerce has also been inculcated into the marketing system of the company. Additionally, the company has applied it for security purposes, hastening of the supply chain and augmenting market advantage for the XYZ Company. Leadership Modern leadership involves the process of leading the people to focus all their energy towards a common set goal, therefore, bringing the best out of those particular people. Application of individual assessment to lead others on the part of the leaders is very important. The elicited people oriented leadership, where the people in the workforce reason and work towards a certain goal in consensus, enhances the working of the entire company. Leadership by honest and unbiased individuals is also significant. Individuals with such favorable qualities are quite important pas they teach and guide the entire staff about the importance of values such as kindness, mutual respect, honesty and diligence among others. Such a leadership spirit brings about affluence in the construction businesses. The XYZ Company is not an exception in this case. Adept and innovative leadership is applied in all the spheres and work departments. Leadership is availed and applied at virtually all levels, making it successful and ready to face the global arena, since leadership guarantees success (Davis, 2008). Conclusion Growth in the economies is impossible without construction, since construction is linked with infrastructure, which is a component of growth. All structures in which business is carried out are a result of the tireless work by the construction industry. Therefore, the construction industry is profoundly important in hastening growth in the economies of the world. Because of the awareness to this reality, the construction industry has cropped up immensely in recent times. The augmentation in the construction industries has introduced stiff competition between the construction companies. These businesses do many modifications in their operations to match the current global trend in this sector of the economy. The XYZ construction company, being one of the competitive construction companies has included the above-described ingenious measures to meet the demands of the ever-growing market. Thus, before launching its first IPO, the company will have to continue pressing on and stressing on reinforcement of the strategies named above. This initiative will undoubtedly result in the realization of success (Davis, 2008). . References Davis, T.R. (2008). How to Open & Operate a Financially Successful Construction Company. Ocala, FL: Atlantic Publishing Company. Atallah, P.W. (2006). Building a Successful Construction Company. Chicago, IL: Kaplan Publishing. Naoum, S. (2001). People and organizational management in construction. Reston, VA: Thomas Telford. Hugh, L.R. & Miramontes, L.P. (2004). Construction Accounting Deskbook, 2005. Chicago, IL: CCH. Davis, T.R. (2008). How to Open & Operate a Financially Successful Construction Company. Ocala, FL: Atlantic Publishing Company. Read More