Vision and Mission
Discuss About The Recycling Of Demolished Concrete And Masonry.
The construction industry division includes the construction of the buildings and other structure, additions, reconstructions, additions, installation, repairs of building, alterations, and maintenance. This industry plays a significant role in the Australian market. One of the companies Quality Builders came into existence in 2012 to give the superior quality home. This company is based on New Zealand that specialized in making the high-quality designer homes for the area around Sydney. The report discusses the expansion of company and its related revenues earned by the company. The strategy used in the report includes expanding and knowing the opportunities and threats available in the market. The risk analysis is done to know the risk factors present in the market. For this, the analysis and assessment of the risk are done by the company to reduce and minimize the risk factor in the business. Various techniques are been discussed to avoid, minimize the risk in the business.
The company wants to be the best quality home provider in Australia and other regions.
The core values of the company are as follows:
- The company wants to focus on the quality of the product and services provided by them.
- Using the innovation in construction, satisfying the customer the most.
- The leadership strategy used in the company.
- Respect should be given to each and every employee and person involved with company.
- There should be followed by honesty and reliability.
- No adoption of fraudulent activities
The company wants to offer the house which is environment-friendly in nature. New innovation and strategies are used in making the home. The customization according to the needs of the customer is the main goal of the company so that their customers remain satisfied.
- Build high-Quality residents to meet the customer needs and aspiration.
- Attract, engage and develop the best staff.
- To be well led, high performing, profitable and accountable.
- Continue building the deeper customer relationships.
Strengths
The company is focusing on maintaining the quality and value in their product and service so that there will be more retention of the customer to the Quality builder only. The strength of the company is that they have the well managed internal structure in the organization that is they have the strong management. The culture adopted in the organization is of friendly nature so that new ideas and creativity will be there in the activities and strategies. The liberty to invest the amount in the new projects is given to the employees by the top level and customer loyalty is maintained by the company.
Weakness
The company is facing the problem of only operating in the New Zealand market only as their brand name is not that developed yet. The company is facing the problem of high turnover in the workforce.
Opportunities
The company has the opportunity to experience the growth in the housing sector. The company can plan for the innovation in the environmental housing as it is really required in this environment. The company has the potential to grow in Brisbane and Sunshine Coast market.
Services and Products
Threats
The biggest threat company is having is that changes in styles, preferences and choices of the customer. Level of competition, change in the government structure in Australia is considered to be the threat for the company. Other threat can be environment affecting the business.
All business owners in Australia have to register themselves and should have the Australian Business Number (ABN), Goods and service tax (GST), tax file number TFN). The company has to follow other requirements which include the legal obligation of the market, laws of the environment, employing workforce and other contracts. The follow of the employment laws, industrial rules should be followed by the company.
The ethical principle of the construction industry requires that there will be safety in work and environment and another workforce will remain protected. All the act area is done with fair treatment to other parties; no fraudulent activity should be performed by the company. The code of ethics in Australia is regulated by the Australian Institute of Building which governs all the code of ethical concerns to the construction companies. The quality builder has to make their ethical standards in following of AIB.
The company can able to position itself in the market as the company which is providing the services and products which are unique and different and in the low cost. The price offered by the quality builder is quite low as compared to its competitors. The facilities provided by the company to its customer are high and innovative in nature.
The target market of the company is the younger generation who wants to invest their money in the homes. There is found an increase in the sales of a home in Sydney market by 15% per annum over two years which is considered to be the high revenues for the business. from this opportunity in the market, the company can able to grab the large area in the Australian Market. The company now planning to build its existence in Victoria and can build at least 100 new homes in Melbourne during the few years.
The potential marketing opportunities are as follows:
- Expansion in the other countries and areas of Australia.
- Increase innovation in nature friendly housing
- Increase in the population and needs of the individual home.
- Develop leads which can convert into sales immediately.
- Building trust and loyal customers.
The company is performing well in the market can be seen through the presence of the company in Melbourne with increased in employee satisfaction as measured by the surveys. Another performance indicator is seen through design made by the company which is a focus to be unique and building the environment-friendly homes. The company is focusing on employing more of the women staff in the company to increase the women empowerment.
Objectives
Risk can be assessed through the following ways:
- The change in the government policy of the government policies.
- Cash flows in the company depict the risk.
- Recession in the world is checked and the dominant effect is also taken into consideration
- Market condition is accessed.
- Failure to meet and managed the client expectation and requirements.
- Failure to control the expenditure on a single project.
- Ineffective planning in allocating the funds.
- Tough competition faced by the competitors.
- The rate of growth in the client numbers.
- Unethical or professional practices by staff.
There can be 6 ways to control the risk in the business which is as follows:
Avoidance
Avoidance is the best means of loss control. As the name suggests the risk has been completely avoided by the business. If the business is able to avoid the risk to the zero then the business will be saved from bearing the loss. This is why the avoidance is the first technique to be used in risk control techniques. It is completely eliminating the threat for the company like a Quality builder.
Loss prevention
Loss prevention is a technique used to limits the risk faced by the company. Instead of avoiding the whole risk, the company is trying to find the way to eliminate the loss.
Loss reduction
In this technique, the risk is accepted by the company as without risk no profits will be earned by the company. In this, the loss is reduced by the company in the event of some type of threat present in the market. In the case of Quality Builders, the threat of a new competitor and change in government policy is there.
Separation
Separation is also one of the risk control technique that involves the separating the crucial assets. This ensures that if there is any tragedy occurs in the business at one site, it will not impact to the other location assets. On the other hand, if the company like Quality builders have all the assets have located in one place only then the business would face more challenges and losses.
Duplication
Duplication is a risk control technique that involves the backup plan. This backup plan will help the company to have another option to have the savior from the losses. This is basically done in the technology used by the company. A failure in the information technology used by the company hampers the performance of the company as all the details of the clients are there in the information system.
Diversification
Diversification in the risk control can be used as diversified the activities in the business so that the risk and loss both can be diversified in the other sector or field. This risk control technique makes the allocation of the business resources in a different direction to generate several positions of business that offers a diversity of products or services.
Risk assessment and analysis
SWOT Analysis
Risk assessment is considered to be the first phase in the management process of risk. The organization evaluates the uncertainty in the events that could expose the business in its day to day operations and estimates the damage done in the activity. Risk assessment is done by knowing the hazards done in the environment and the factors which are harming the business. The risk factor are evaluated in this stage that from where the hazards and damage are done to the business. This stage also includes the measures required to control the risk and also done the work of evaluating the risk. In the last, the review and revision of the risk assessment policy are made by the company. In this stage, company prioritises the losses and risk which have to reduced or minimized on the urgent basis.
(Source: Stakeholdermap.com, 2018)
Risk Evaluation
After assessing the risk, the evaluation of the risk has been done by the company. Evaluation of risk can be done through by evaluating through estimated risk against the existence risk business have. A risk criterion includes the cost and benefit analysis, cultural factor, environmental factors, political factors, economic factors, legal requirements and system malfunction.
Risk treatment and response
This is measured to be the last phase in the risk management procedure. Risk can be treated by the eliminating or minimizing the risk factors from the business. Risk treatment can be done by the implementation of new plans and policies and procedures in the business that help in avoid or minimization of risk. Treatment of risk also leads to risk reduction, transfer and financing of the risk.
Conclusion
From the above discussion, it can be concluded that the construction business in the Australian market is flourishing day by day. The company Quality builders based on New Zealand is capturing the Australian market. The company is specialized in specializes in the design and building the high-quality designer homes for the area around Sydney. The company is offering the service and products. The analysis of the market of Australia reveals that there are opportunities for the Quality Builders to explore and expand its business. From the SWOT analysis, it can be analyzed that products and services which the company is offering are demanded in the market. The company is fulfilling the ethical and legal requirement of the business. Current marketing activities and opportunities make the business successful for the Quality Builders. The business is also managing its risk using the management risk plan. The business assesses the risk to remain competitive in the market. Various risk reduction and control methods are used by the company to reduced their risk and minimize their losses. This strategy will enable the company to survive in the market for long term.
References
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Keith H, Kraatz J, and Sanchez A, eds. R&D investment and impact in the global construction industry (Routledge, 2014)
Construction Global, Australia’s Construction industry set for $35bn renovation boom (2018) <https://www.constructionglobal.com/major-projects/australias-construction-industry-set-35bn-renovation-boom>
UTS ePRESS, Construction Economics and Building (2012) <https://www.constructionglobal.com/major-projects/australias-construction-industry-set-35bn-renovation-boom>
David L, Fellows R, Hancock M.R, and Gale A.W. Human resources management in construction (Routledge, 2014)
Research Gate, Ethical Issues in the Construction Industry: Contractor’s Perspective (2012)
<https://www.researchgate.net/publication/257715457_Ethical_Issues_in_the_Construction_Industry_Contractor’s_Perspective>
POMS Associate, The 6 Fundamental Techniques Of Risk Control (2018) <https://www.pomsassoc.com/6-fundamental-techniques-risk-control/>
Taylor, Peter J., and Ben Derudder B, World city network: a global urban analysis (Routledge, 2015)
Hansen, Torben C. Recycling of demolished concrete and masonry (CRC Press, 2014)
Solarwinds msp, Risk Management Process Definition (2018) <https://www.solarwindsmsp.com/content/risk-management-process-definition#>
Project Manager, 6 Steps in the Risk Management Process (2017) < https://www.projectmanager.com/blog/risk-management-process-steps>
Stakeholdermap.com, Risk Management, Risk Analysis, templates and advice (2018)
<https://www.stakeholdermap.com/risk/risk-management-construction.html>
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