We find ourselves in one of the longest sustained economic expansions in the history of the U.S. engineering and construction industry. As such, we think it is a good time to focus on a few strategic items that executives often overlook, but, if acted upon, can make a positive impact on a firm’s performance regardless of market conditions.
Customer loyalty is more than repeat business. Now is the time to recalibrate your client focus and achieve new levels of customer loyalty.
Getting smart about your go-to-market strategy, picking the right customers and pre-positioning yourself for the win will help set up your company to gain profitable market share without breaking the bank.
In this Quarterly edition, our authors describe Texas’ business climate and reasons for success, share important lessons learned, and explore some of the key reasons why this state has maintained its prominence in the business market for decades.
At its core, succession is a deeply emotional process for leaders. For seasoned executives, it often requires reflection and insight into one’s career journey and legacy.
FMI often hears stories about innovations and positive disruptions occurring in and around the engineering and construction industry. These new ideas are often associated with project-related processes, systems or technologies. And while some ideas and technologies stick, many others seem to fail.
This edition of the Quarterly focuses on helping leaders and organizations understand what it takes to operate in a VUCA world.
Engineering and construction firms are dynamic and inherently risky businesses. Historically, owners, chief financial officers or risk managers were the sole administrators of risk management. Today, however, the issue of risk is everyone’s responsibility, and a risk management culture must be engrained across the entire organization.
Nine elements that should be included in every construction firm’s formal risk management strategy
As a leader, have you gone through times where successes of the past have clouded your judgment, leading to lost profits, defeat or failure? In the construction industry, we face the delicate leadership balance of taking the necessary risks to grow and benefit the company without tipping the scales […]
During the past few decades, there have been dozens of large contractors that, after many years of growth and apparent prosperity, experienced notable financial disasters, resulting in bankruptcy or a reincarnation of the business in a much different form.
Today’s engineering and construction (E&C) industry talent challenges are not new. However, we are at a critical inflection point: Ten thousand baby boomers are retiring daily across the U.S., leaving behind an incredible void of knowledge and experience — particularly in the engineering and construction space. Baby boomers created billion-dollar companies over the past several decades and […]
To truly break into the succession plan takes an enormous amount of focus, dedication, commitment and motivation for anyone looking up the career ladder.
Many of today’s construction employers lack a clear grasp of their employees’ skills and competencies.
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