JAM construction Firm Project Business Plan

JAM Construction is a small company that has been in operation for the last 10 years, where it has undertaken small to large contracts including alteration and repair projects. The focus of the firm has largely been on residential projects though at times, it has undertaken work on other areas.  The main goal of the company is to offer satisfactory customer services through building and maintenance of strong reputation in the market.  This goal is hedged on the overall aim of building the exact vision of the customer and provided the expected value.  By providing comprehensive services, which are designed to allow for finishing of the contracted projects, the company is able to provide quality as per the customers’ requirement.

The vision long-term vision is to achieve growth in terms of market share and revenue of the company.  This will be done through expansion of its capability to offer services in a wider market so as to improve profitability by undertaking more construction contracts in residential and other areas under construction.  This can be achieved if integration of the efforts from different sections of the firm is done. Integration is necessary for growth strategy since it ensures that every elements of a project being undertaken are brought together at the most appropriate times for successful completion (Hitt, Ireland,  & Hoskisson, 2017).

Strategies

For expansion of strategies and growth, the firm will adopt various strategies so as to ensure that set goal and vision are achieved. The first strategy is to having the appropriate value proposition that will offer direction to ensure all efforts are aimed at increasing market reach, market share and profitability. The value proposition is to gain growth through providing high quality service to the customer. The next strategy is to have various measurable KPI’s (Key performance indicators) which will give an outline for firm’s objectives, which will then be prioritized so that any tactic or strategy may be identified.  The KPI’s for this plan include the increment construction contracts and clients and revenue earned in the specified period.  These KPI’s are not definitive and hence, will have to be revisited regularly to make so that they are up-to-date and are in line with a constantly changing construction industry and even the market. Since the chosen KPI’s are measurable, it will be easy to evaluate the success in attaining goals of the JAM Construction.

The third strategy involves a verification of the revenue streams currently and the creation of others so as to raise the profitability of this firm.  The revenue streams will be evaluated regularly to ensure that they can be sustained over the long run.  The other strategy is the identification of the ideal customers who are the constructing audience and then, understand the major requirements. This is important because it will assist in knowing what the customer needs and delivering at every stage of any project and hence fulfill their needs.  The strategies will be communicated to the various teams in the firm through an effective channel so as to have the same goal while working.

Financial considerations

JAM Company does not have large amount of debt, and this makes it possible for the firm to access more capital or funds for expansion. It is expected that over the next three years share market and hence, sales revenue will have improved significantly.

Reference

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: Competitiveness & globalization : concepts and cases. Boston, MA: Cengage Learning.