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Business Management for Built Environment Professionals - Report Example

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This paper "Business Management for Built Environment Professionals" discusses the most suitable strategy that will depend on the external environments. However, Planning and Control is the central activity and therefore needs special attention in the management strategy…
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Business Management for Built Environment Professionals
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Download file to see previous pages While operational planning ensures availability of the 3Ms (Men – Material – Money) at the right time, at the right price ready for the right purpose, the controlling process ensures that the planning and the execution of the operations follow the requirements of the industry and that of the customer. This would ensure not just meeting the deadlines required by the customers, but also of the quality levels required by them. In addition to this, the control ensures that the requirements of the other stakeholders typically, the shareholders and the management of the company achieve their targets of production capacity and profitability. It is important for all these parameters to be met through the planning and control of the entire operations of the company. The general objective of the study is to identify the strategy for the operational planning and control system required in the Built Environment.

It has been stated by Hamel and Prahalad that companies that desist from competing for future market opportunities are doomed and forgo corporate value creation that they had achieved in the past. (Hamel and Prahalad). Growth is dependant on momentum and it is an integral part of business strategy. Growth is also a very difficult decision as it involves investments; an investment may become wasteful if there is no adequate return in a reasonable period of time.

Environments have a great impact on companies. The strategy is the reaction or response to these external and internal situations. Ansoff et al (1976) state that, amongst other things, responsiveness to the problems is what strategy is all about. The aggressive response to competition, the sublime response to the customers, the firm but a fair response to the managers and workers are but a few ingredients of strategy. Minzberg et al (1998) offer another concept of strategy which is that it acts as a mediation force between the organization and the environment. The strategy is the internal and inherent capacity of the organization to meet and face challenges posed by the environment. ...Download file to see next pagesRead More
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