While there are no cookie-cutter solutions for ownership transfer, there are some viable strategies to consider when it’s time to successfully hand over your company’s ownership to the next generation.
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Execution is the main reason companies fall short on their promises. It is the gap between what a company’s leaders want to achieve and the ability of their organizations to deliver it. The superlative companies in our industry have linked together three key components—the people, strategy and operating plans—that provide the details of execution.
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In today’s team-based, fast-paced work environments, the ability to communicate effectively over several channels and provide ongoing feedback is key to success. Feedback makes you aware of how you are doing and what you can do to develop and improve. It builds trust in your relationships.
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Driven in part by regulatory pressure, ethics programs are gaining prominence within firms whose leadership have made it a priority, and further throughout the industry, supported by associations like the Construction Industry Ethics and Compliance Initiative (CIECI) and the Associated General Contractors of America (AGC).
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Whether they are large public businesses or small, family-owned startups, successful construction companies have strong, positive cultures. These cultural roots typically start with a founder who has a vision of the type of company he or she wants to build.
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When companies go looking for a new CEO, they either turn to professional search firms or develop their best candidates within the organization. The company — often the board of directors and major shareholders — is looking for a very special individual who will not only have the capabilities to perform certain responsibilities, but will also fit the specific needs and culture of the […]
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Many construction leaders assume that leader development and succession issues have blown over since the recession put a swift end to the boom years’ war for talent.
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