Construction Company: Market Analysis, Marketing Strategies Report
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This report provides a comprehensive analysis of a construction company operating in Australia. It begins with a PESTLE analysis, examining the political, economic, social, technological, environmental, and legal factors influencing the industry. The report then delves into market analysis, exploring current trends, market needs, target markets, and key competitors. Following this, the report outlines marketing strategies, including SWOT analysis, unique selling propositions, competitive advantages, and detailed marketing plans covering promotion, pricing, place, and product. Pricing and advertising strategies are also discussed. The report concludes with a section on risk management, highlighting potential challenges and mitigation strategies for the construction company. The analysis aims to provide a strategic framework for the company's establishment and success in the Australian market.
Running head: CONSTRUCTION COMPANY
Construction Company
Name of the Student
Name of the University
Author Note
Construction Company
Name of the Student
Name of the University
Author Note
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1CONSTRUCTION COMPANY
Table of Contents
Introduction:...............................................................................................................................4
1. PESTLE Analysis:.............................................................................................................5
1.1 Political:...........................................................................................................................5
1.2 Economic:........................................................................................................................5
1.3 Social:...............................................................................................................................6
1.4 Technological:..................................................................................................................7
1.5 Environmental:.................................................................................................................8
1.6 Legal:................................................................................................................................8
2. Market Analysis:................................................................................................................9
2.1 Market Trends:.................................................................................................................9
2.2 Market Needs:................................................................................................................10
2.3 Target Market:................................................................................................................11
2.4 Market Competitors:......................................................................................................12
3. Marketing strategies and implementation:.......................................................................14
3.1 SWOT Analysis:............................................................................................................14
Strengths:..........................................................................................................................14
Weakness:........................................................................................................................14
Opportunities:...................................................................................................................15
Threats:.............................................................................................................................15
3.2 Unique Selling Proposition:...........................................................................................15
Table of Contents
Introduction:...............................................................................................................................4
1. PESTLE Analysis:.............................................................................................................5
1.1 Political:...........................................................................................................................5
1.2 Economic:........................................................................................................................5
1.3 Social:...............................................................................................................................6
1.4 Technological:..................................................................................................................7
1.5 Environmental:.................................................................................................................8
1.6 Legal:................................................................................................................................8
2. Market Analysis:................................................................................................................9
2.1 Market Trends:.................................................................................................................9
2.2 Market Needs:................................................................................................................10
2.3 Target Market:................................................................................................................11
2.4 Market Competitors:......................................................................................................12
3. Marketing strategies and implementation:.......................................................................14
3.1 SWOT Analysis:............................................................................................................14
Strengths:..........................................................................................................................14
Weakness:........................................................................................................................14
Opportunities:...................................................................................................................15
Threats:.............................................................................................................................15
3.2 Unique Selling Proposition:...........................................................................................15
2CONSTRUCTION COMPANY
3.3 Competitive Edge:..........................................................................................................16
3.4 Marketing Strategy:........................................................................................................17
Promotion:........................................................................................................................17
Pricing:.............................................................................................................................17
Place:................................................................................................................................18
Product:............................................................................................................................18
3.5 Pricing Strategy:.............................................................................................................18
3.6 Advertising Strategies:...................................................................................................18
4. Risk Management:...............................................................................................................19
Conclusion:..............................................................................................................................20
References:...............................................................................................................................21
3.3 Competitive Edge:..........................................................................................................16
3.4 Marketing Strategy:........................................................................................................17
Promotion:........................................................................................................................17
Pricing:.............................................................................................................................17
Place:................................................................................................................................18
Product:............................................................................................................................18
3.5 Pricing Strategy:.............................................................................................................18
3.6 Advertising Strategies:...................................................................................................18
4. Risk Management:...............................................................................................................19
Conclusion:..............................................................................................................................20
References:...............................................................................................................................21
3CONSTRUCTION COMPANY
Introduction:
The modern business world is notably attractive for the business openings. Each and
every industry in the modern business context is observed to be subjected to a significant
growth in the market. The Australian market is significantly expanding and many of the
companies are conducting business in the global stage. The GDP growth of the country is a
major proof of the fact that the country is subjected to significant amount of development
(Shoory 2016). The economy of the country is seen to have a major shift upwards after the
evolution of the construction industry. The country is able to experience notable growth in
the mentioned industry. Currently many of the important projects are underway in Australia
which have the potential to improve the infrastructure of the country and at the same time,
have major growth opportunity of the construction industry associated with it. The collection
of the GDP from the construction industry is observed to be of 35037 million Australian
dollars (Export.gov. 2019). However the sum got slightly decreased compared to the previous
year, yet the industry is expected to increase the generation of the revenue.
The paper is focused in the analysis required for the establishment of a company
belonging to the mentioned industry in Australia. In order to consider a plan for the
establishment of a company, the authority is expected to evaluate the necessary market
dynamics and the trends. Considering that requirement, the paper also produces a PESTEL
analysis of the market. The political, social, economic, technological, legal and
environmental factors associated in the establishment of the company are evaluated in the
paper and along with that, the trends of the market, requirements of the customer and the
competitors in the industry are assessed in the paper as well. In addition to this, the paper
discusses the strength, weakness, threats and the opportunities of the company. Apart from
this, the paper also produces the unique selling proposition of the company, the marketing
Introduction:
The modern business world is notably attractive for the business openings. Each and
every industry in the modern business context is observed to be subjected to a significant
growth in the market. The Australian market is significantly expanding and many of the
companies are conducting business in the global stage. The GDP growth of the country is a
major proof of the fact that the country is subjected to significant amount of development
(Shoory 2016). The economy of the country is seen to have a major shift upwards after the
evolution of the construction industry. The country is able to experience notable growth in
the mentioned industry. Currently many of the important projects are underway in Australia
which have the potential to improve the infrastructure of the country and at the same time,
have major growth opportunity of the construction industry associated with it. The collection
of the GDP from the construction industry is observed to be of 35037 million Australian
dollars (Export.gov. 2019). However the sum got slightly decreased compared to the previous
year, yet the industry is expected to increase the generation of the revenue.
The paper is focused in the analysis required for the establishment of a company
belonging to the mentioned industry in Australia. In order to consider a plan for the
establishment of a company, the authority is expected to evaluate the necessary market
dynamics and the trends. Considering that requirement, the paper also produces a PESTEL
analysis of the market. The political, social, economic, technological, legal and
environmental factors associated in the establishment of the company are evaluated in the
paper and along with that, the trends of the market, requirements of the customer and the
competitors in the industry are assessed in the paper as well. In addition to this, the paper
discusses the strength, weakness, threats and the opportunities of the company. Apart from
this, the paper also produces the unique selling proposition of the company, the marketing
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4CONSTRUCTION COMPANY
strategies of the company, the pricing strategies and the advertising strategies of the
company. Along with this, the paper also describes the risk management techniques that the
company is responsible to undertake.
1. PESTLE Analysis:
1.1 Political:
The political impact on the construction industry is observed to be significant in any
of the country of the World. However in Australia, the effect of the politics in the
construction industry is significantly limited. The country’s stable political dynamics
produces the base for the effective business conduction in the mentioned industry. However,
there are some existing conflicts for the government projects where the opposition party is
seen to voice their protest against the government for various issues like the improper
activation of the security rules, the miscommunication regarding the economic development
that the construction activity will be able to result in and the employer selection procedures
(Battlefortruth.org. 2019). Considering the political show of power, it is observed that the
opposition will produce some amount of difficulty in the smooth conduction of the
government projects in order to make sure that the party governing the country is well away
from the limelight of the society and the preferences of the people of the country. This
becomes much needed from the part of the part of the opposition in order to make sure that
they be relevant to the national politics. Apart from the government projects, the industry is
not affected by the politics in a great deal. In addition to this, the ideologies of the national
leaders are observed to be in support if the infrastructural development and the construction
works. Hence any of the organization entering the industry can expect to have a
comparatively better environment for the business conduction in the country.
strategies of the company, the pricing strategies and the advertising strategies of the
company. Along with this, the paper also describes the risk management techniques that the
company is responsible to undertake.
1. PESTLE Analysis:
1.1 Political:
The political impact on the construction industry is observed to be significant in any
of the country of the World. However in Australia, the effect of the politics in the
construction industry is significantly limited. The country’s stable political dynamics
produces the base for the effective business conduction in the mentioned industry. However,
there are some existing conflicts for the government projects where the opposition party is
seen to voice their protest against the government for various issues like the improper
activation of the security rules, the miscommunication regarding the economic development
that the construction activity will be able to result in and the employer selection procedures
(Battlefortruth.org. 2019). Considering the political show of power, it is observed that the
opposition will produce some amount of difficulty in the smooth conduction of the
government projects in order to make sure that the party governing the country is well away
from the limelight of the society and the preferences of the people of the country. This
becomes much needed from the part of the part of the opposition in order to make sure that
they be relevant to the national politics. Apart from the government projects, the industry is
not affected by the politics in a great deal. In addition to this, the ideologies of the national
leaders are observed to be in support if the infrastructural development and the construction
works. Hence any of the organization entering the industry can expect to have a
comparatively better environment for the business conduction in the country.
5CONSTRUCTION COMPANY
1.2 Economic:
The economy of the Australian construction industry is pretty impressive. The
mentioned industry is able to cover 8% of the total GDP of the country (Export.gov. 2019).
The construction sector is considered to be the largest non-service related industry which
contributes approximately 35037 million Australian dollars to the GDP of the country
(Export.gov. 2019). Along with this, the increased amount of investment in the mentioned
industry is expected as the size, value and the productivity of the industry are increasing in
rapid manner. Apart from this, the number of the construction projects is seen to increase by
2% after every business quarter and that provides the evidence for the growth of the industry
(Shoory 2016). This will be significant in developing innovative techniques for the
construction of the commercial and the residential places. One of the significant factor in
favour of the new entries into the industry is observed to be the improvement in the
productivity. The construction industry in Australia is observed to increase in size and in the
productivity as well. The productivity of the construction industry is seen to increase by 2.8%
per year (Fulford and Standing 2014). The main reasons responsible in the significant
increment in the productivity of the construction industry are considered to be the innovative
building techniques and the improvement in the quality of the modern construction materials.
1.3 Social:
The country is able to experience approximately 1.6% increment every year in the
population (Abs.gov.au. 2019). Majority of it comes from the net overseas migration (62%)
and a percentage of 38 comes from the natural childbirth (Abs.gov.au. 2019). The significant
increment in the population is subjected to a notable need of construction of the houses for
shelter. Hence the necessity of the construction company is visible. Along with this, 50% of
the nation’s population is seen to be from the urban areas (Abs.gov.au. 2019). The urban
areas requires significant infrastructural development and specifically the construction of the
1.2 Economic:
The economy of the Australian construction industry is pretty impressive. The
mentioned industry is able to cover 8% of the total GDP of the country (Export.gov. 2019).
The construction sector is considered to be the largest non-service related industry which
contributes approximately 35037 million Australian dollars to the GDP of the country
(Export.gov. 2019). Along with this, the increased amount of investment in the mentioned
industry is expected as the size, value and the productivity of the industry are increasing in
rapid manner. Apart from this, the number of the construction projects is seen to increase by
2% after every business quarter and that provides the evidence for the growth of the industry
(Shoory 2016). This will be significant in developing innovative techniques for the
construction of the commercial and the residential places. One of the significant factor in
favour of the new entries into the industry is observed to be the improvement in the
productivity. The construction industry in Australia is observed to increase in size and in the
productivity as well. The productivity of the construction industry is seen to increase by 2.8%
per year (Fulford and Standing 2014). The main reasons responsible in the significant
increment in the productivity of the construction industry are considered to be the innovative
building techniques and the improvement in the quality of the modern construction materials.
1.3 Social:
The country is able to experience approximately 1.6% increment every year in the
population (Abs.gov.au. 2019). Majority of it comes from the net overseas migration (62%)
and a percentage of 38 comes from the natural childbirth (Abs.gov.au. 2019). The significant
increment in the population is subjected to a notable need of construction of the houses for
shelter. Hence the necessity of the construction company is visible. Along with this, 50% of
the nation’s population is seen to be from the urban areas (Abs.gov.au. 2019). The urban
areas requires significant infrastructural development and specifically the construction of the
6CONSTRUCTION COMPANY
houses in order to make sure that the mentioned population be able to live without any sort of
concern. The construction work of the commercial and the residential places in the urban area
of Australia will open the doors for many of new construction companies to enter the market
and achieve the notable amount of growth with which the industry is associated. Apart from
this, the construction industry is expected to create considerable amount of job openings for
the people of Australia. The construction industry is considered to be a sector responsible for
large employment along with the production of large GDP. The industry is able to generate
approximately 1.1 million employment of the Australians (Aph.gov.au. 2019). Apart from
this, various aspects of the industry like the technology, finance and service sectors are
subjected to the significant expansion along with the growth of the organization. This makes
it pretty evident that the number of employment will only increase in the upcoming years.
1.4 Technological:
In the modern generation, the business is notably interconnected with the technology
and the applications of the technology. A major reason responsible for the increased
implementation of the technology is seen to be the increased speed that it offers in the
business conduction and the construction work. In the construction industry, the increment in
the number of days of construction will only increase the investment and that is one prime
reason for the portrayal of the urgency from the part of the managers as they want to reduce
the cost. The applications of the technology and the technological advancement provide the
base to the organizations of the mentioned industry to reduce the consumption of the time for
the construction and at the same time, the usage of the technology in the construction work
increases the quality of the work. Apart from that the presence of the technology minimizes
he error in the calculation of the construction work and that plays a crucial role in the
minimization of the investment from the part of the organizations.
houses in order to make sure that the mentioned population be able to live without any sort of
concern. The construction work of the commercial and the residential places in the urban area
of Australia will open the doors for many of new construction companies to enter the market
and achieve the notable amount of growth with which the industry is associated. Apart from
this, the construction industry is expected to create considerable amount of job openings for
the people of Australia. The construction industry is considered to be a sector responsible for
large employment along with the production of large GDP. The industry is able to generate
approximately 1.1 million employment of the Australians (Aph.gov.au. 2019). Apart from
this, various aspects of the industry like the technology, finance and service sectors are
subjected to the significant expansion along with the growth of the organization. This makes
it pretty evident that the number of employment will only increase in the upcoming years.
1.4 Technological:
In the modern generation, the business is notably interconnected with the technology
and the applications of the technology. A major reason responsible for the increased
implementation of the technology is seen to be the increased speed that it offers in the
business conduction and the construction work. In the construction industry, the increment in
the number of days of construction will only increase the investment and that is one prime
reason for the portrayal of the urgency from the part of the managers as they want to reduce
the cost. The applications of the technology and the technological advancement provide the
base to the organizations of the mentioned industry to reduce the consumption of the time for
the construction and at the same time, the usage of the technology in the construction work
increases the quality of the work. Apart from that the presence of the technology minimizes
he error in the calculation of the construction work and that plays a crucial role in the
minimization of the investment from the part of the organizations.
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7CONSTRUCTION COMPANY
The modern construction organizations are seen to use the construction software for
their business operations. The construction software platforms are significant in saving the
cost, in increasing the efficiency of the operations of the organization along with providing
the scope for the much needed improvement in the better design structures. The usage of the
construction software platforms are seen to help the organizations in a significant manner and
that is evident with the statistics that the organizations will be able to save 25 billion US
dollars per year from the next decade as a result of the usage of the construction software
platform (Shoory 2016).
1.5 Environmental:
The construction work is observed to be significantly associated with the
environment. As the construction work is responsible for creating significant amount of
pollution in the formats like the air pollution, the water pollution and the soil pollution along
with destroying the ecological balance by deforestation, several governments and the
environmental safety boards are observed to focus on the operations of the construction
agencies in significant manner. The formation of the legislation and the strict implementation
of them, make it pretty evident that the country or the society has the prime objective of
saving the environment and making sure that the future generation be able to achieve a
healthy environment. Each of the regions of the country is seen to establish relevant
legislation for the maintenance of the environment and the organizations, operating in the
mentioned industry, are liable to conduct their business operations in accordance to the
legislation. The crucial legislations that are imposed on organizations, operating in the
mentioned industry, are seen in the form of Environmental Protection Act 1997,
Environmental Protection Guidelines for business and industry, Protection of the
Environmental Operations Act 1997, NSW environmental Legislation, Environmental
Assessment Act 1982, Environmental Protection Legislation, Environmental Protection Act
The modern construction organizations are seen to use the construction software for
their business operations. The construction software platforms are significant in saving the
cost, in increasing the efficiency of the operations of the organization along with providing
the scope for the much needed improvement in the better design structures. The usage of the
construction software platforms are seen to help the organizations in a significant manner and
that is evident with the statistics that the organizations will be able to save 25 billion US
dollars per year from the next decade as a result of the usage of the construction software
platform (Shoory 2016).
1.5 Environmental:
The construction work is observed to be significantly associated with the
environment. As the construction work is responsible for creating significant amount of
pollution in the formats like the air pollution, the water pollution and the soil pollution along
with destroying the ecological balance by deforestation, several governments and the
environmental safety boards are observed to focus on the operations of the construction
agencies in significant manner. The formation of the legislation and the strict implementation
of them, make it pretty evident that the country or the society has the prime objective of
saving the environment and making sure that the future generation be able to achieve a
healthy environment. Each of the regions of the country is seen to establish relevant
legislation for the maintenance of the environment and the organizations, operating in the
mentioned industry, are liable to conduct their business operations in accordance to the
legislation. The crucial legislations that are imposed on organizations, operating in the
mentioned industry, are seen in the form of Environmental Protection Act 1997,
Environmental Protection Guidelines for business and industry, Protection of the
Environmental Operations Act 1997, NSW environmental Legislation, Environmental
Assessment Act 1982, Environmental Protection Legislation, Environmental Protection Act
8CONSTRUCTION COMPANY
1994, Environmental Protection Act 1993, Environmental Management and Pollution
Control Act 1994, Environmental Protection Act 1970 and Environmental Protection Act
1986 (Business.gov.au. 2019).
1.6 Legal:
The construction industry is affected by the legal legislations. As the industry is seen
to generate notable amount of employment, the human rights Act of the nation is significantly
applicable in the management of the rights of the employees. The implementation of the
Employment and Labour Act is of great significance as the legislation is able to serve the
much required concerns of the employees (Iclg.com 2019). Along with this, the Anti-
discrimination Act for the employees of the organization is seen to be significant in order to
provide an workforce the much required uniform procedure for the evaluation of the
performances. This makes sure that each of the members of the workforce is evaluated on the
same basis for the promotions inside the organization. Along with this, the organizations are
liable to employ the Workplace Harassment Act for making sure that any member of the
organizations are not associated with any sort of unethical behaviour inside the organization
(Iclg.com 2019). This had the potential to create a stress free situation inside the organization.
Along with this, the companies operating in the mentioned industry are bound to follow the
before said environmental protection acts in order to make sure that their business procedure
is in alignment with the guidelines described in the legislation. The follow up of the
implementation of the legislative frameworks in the country is notably strong and the
companies who are observed to violate the legislative frameworks, are subjected to strict
procedural investigations.
1994, Environmental Protection Act 1993, Environmental Management and Pollution
Control Act 1994, Environmental Protection Act 1970 and Environmental Protection Act
1986 (Business.gov.au. 2019).
1.6 Legal:
The construction industry is affected by the legal legislations. As the industry is seen
to generate notable amount of employment, the human rights Act of the nation is significantly
applicable in the management of the rights of the employees. The implementation of the
Employment and Labour Act is of great significance as the legislation is able to serve the
much required concerns of the employees (Iclg.com 2019). Along with this, the Anti-
discrimination Act for the employees of the organization is seen to be significant in order to
provide an workforce the much required uniform procedure for the evaluation of the
performances. This makes sure that each of the members of the workforce is evaluated on the
same basis for the promotions inside the organization. Along with this, the organizations are
liable to employ the Workplace Harassment Act for making sure that any member of the
organizations are not associated with any sort of unethical behaviour inside the organization
(Iclg.com 2019). This had the potential to create a stress free situation inside the organization.
Along with this, the companies operating in the mentioned industry are bound to follow the
before said environmental protection acts in order to make sure that their business procedure
is in alignment with the guidelines described in the legislation. The follow up of the
implementation of the legislative frameworks in the country is notably strong and the
companies who are observed to violate the legislative frameworks, are subjected to strict
procedural investigations.
9CONSTRUCTION COMPANY
2. Market Analysis:
2.1 Market Trends:
The market trends of the construction industry in Australia is notably important in the
continuation of the growth of the country. The trends of the construction industry is
significant in stating the improvement in the statistics of the financial records. The concerned
industry is expected to reach a CAGR of 7.5% in an attempt to reach 293.4 billion US dollar
by the end of 2022 (Abcc.gov.au. 2019). The commercial construction is observed to reach a
CAGR of 6.2% in terms of the value in the period 2013-2017 (Abcc.gov.au. 2019). Apart
from this, the infrastructure construction is seen to reach 80.6 billion US dollar which makes
sure that the infrastructure construction poses a CAGR of 5.7% during the time frame
(Aib.org.au 2019). However, the maximum CAGR percentage that is recorded in the
mentioned time period belongs to the residential construction as the CAGR value of the
residential construction is seen to be 11.4% (Aib.org.au 2019). The overall growth of the total
construction projects excluding the mining, oil and the housing sector is expected to be 8.2%
in the financial year of 2018/2019 (Aib.org.au 2019). In addition to this, the building
construction is observed to be in the limelight as the mentioned aspect is seen to have a better
growth from the statistics of 2017/2018. The incremental percentage of the opening of the
projects in the housing sector is seen to be increasing by 3.8% on per year basis
(Abcc.gov.au. 2019).
2.2 Market Needs:
The market of the construction work in the Australian regions is observed to be
significantly expanding. Under such situation, the major market need that the organizations
operating in the industry is able to experience is the quality in the design of the construction.
Many of the business analysts are also observed to claim the fact that the customers and the
preferences of them in purchasing the services in repetitive manner are influenced by the
2. Market Analysis:
2.1 Market Trends:
The market trends of the construction industry in Australia is notably important in the
continuation of the growth of the country. The trends of the construction industry is
significant in stating the improvement in the statistics of the financial records. The concerned
industry is expected to reach a CAGR of 7.5% in an attempt to reach 293.4 billion US dollar
by the end of 2022 (Abcc.gov.au. 2019). The commercial construction is observed to reach a
CAGR of 6.2% in terms of the value in the period 2013-2017 (Abcc.gov.au. 2019). Apart
from this, the infrastructure construction is seen to reach 80.6 billion US dollar which makes
sure that the infrastructure construction poses a CAGR of 5.7% during the time frame
(Aib.org.au 2019). However, the maximum CAGR percentage that is recorded in the
mentioned time period belongs to the residential construction as the CAGR value of the
residential construction is seen to be 11.4% (Aib.org.au 2019). The overall growth of the total
construction projects excluding the mining, oil and the housing sector is expected to be 8.2%
in the financial year of 2018/2019 (Aib.org.au 2019). In addition to this, the building
construction is observed to be in the limelight as the mentioned aspect is seen to have a better
growth from the statistics of 2017/2018. The incremental percentage of the opening of the
projects in the housing sector is seen to be increasing by 3.8% on per year basis
(Abcc.gov.au. 2019).
2.2 Market Needs:
The market of the construction work in the Australian regions is observed to be
significantly expanding. Under such situation, the major market need that the organizations
operating in the industry is able to experience is the quality in the design of the construction.
Many of the business analysts are also observed to claim the fact that the customers and the
preferences of them in purchasing the services in repetitive manner are influenced by the
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10CONSTRUCTION COMPANY
quality in the design of the products. As the competition in construction industry is also
taking a sharp rise, the improvement in the quality or the production of the optimum quality
in the services for constructing the residential places is observed to be of great significance
for a particular organization in differentiating itself from the other organizations of the
industry. Along with the quality in the design of the construction work, one of the major
market needs in the modern generation is observed to be the improved quality of raw
material. The durability of the residential projects is notably dependent on the quality of the
materials (Wu et al. 2013). The usage of the optimum quality material will make sure that the
residential places are well built and will need less number of major maintenances. The usage
of the quality raw material is seen to be one of the key factor or needs of the market. Apart
from this, the qualified or skilled employees is another aspect which the market is in
significant need. It is observed that the faults in operation of the mentioned industry are
associated with notable amount of monetary losses and that is main reason behind the search
of qualified and skilled employees to manage the costly projects (Wu et al. 2013).The usage
of the skilled labours or employees will certainly decrease the loss associated with the faults
of the employees inside the organizations. In addition to this, the market experiences the
notable need of the improvement in the usage of the technology and the applications of the
technology. The presence of technology is much required in the market because of the wide
range of benefits it possess. The significant increment in the speed of the construction work
and the red8ctionof the consumption of bulk amount of time is one of the notable feature that
the technology offers to the market. Apart from this, the introduction of the technology is
much required in the market because of fault free calculation it offers to the managers of the
construction work and that reduces a notable amount of investment of the construction
companies.
quality in the design of the products. As the competition in construction industry is also
taking a sharp rise, the improvement in the quality or the production of the optimum quality
in the services for constructing the residential places is observed to be of great significance
for a particular organization in differentiating itself from the other organizations of the
industry. Along with the quality in the design of the construction work, one of the major
market needs in the modern generation is observed to be the improved quality of raw
material. The durability of the residential projects is notably dependent on the quality of the
materials (Wu et al. 2013). The usage of the optimum quality material will make sure that the
residential places are well built and will need less number of major maintenances. The usage
of the quality raw material is seen to be one of the key factor or needs of the market. Apart
from this, the qualified or skilled employees is another aspect which the market is in
significant need. It is observed that the faults in operation of the mentioned industry are
associated with notable amount of monetary losses and that is main reason behind the search
of qualified and skilled employees to manage the costly projects (Wu et al. 2013).The usage
of the skilled labours or employees will certainly decrease the loss associated with the faults
of the employees inside the organizations. In addition to this, the market experiences the
notable need of the improvement in the usage of the technology and the applications of the
technology. The presence of technology is much required in the market because of the wide
range of benefits it possess. The significant increment in the speed of the construction work
and the red8ctionof the consumption of bulk amount of time is one of the notable feature that
the technology offers to the market. Apart from this, the introduction of the technology is
much required in the market because of fault free calculation it offers to the managers of the
construction work and that reduces a notable amount of investment of the construction
companies.
11CONSTRUCTION COMPANY
2.3 Target Market:
From the evaluation, it is observed that Australia is notably expanding in terms of
population and with the percentage of increment only reaching higher scales, the country
requires sufficient number of residential places for the citizens of it. In the previous
discussion, it is seen that the major share of the population is the overseas migration and
approximately 50% of the total population belongs to the urban areas of Australia. Majorly
11 important cities of the country are observed to be the places for those 50% where Sydney
and Melbourne jointly covers 40% of the total population (Abs.gov.au. 2019). Hence it is
pretty evident that the people of these cities will face the need of having a residential places
and under such situation, the newly constructed company must target these people as their
potential customers. Considering the demographics, the younger generation will be the main
focus of the company as the younger people belonging to the modern generation have the
major tendency to live separately from their parents. Hence the company should focus on
two different aspects. The target market should be the population of the urban area and at the
same time, the younger generation with 30000 Australian Dollar salary needs to be targeted
by the company.
2.4 Market Competitors:
As the Australian construction industry is significantly developing, the industry is
able to experience considerable number of competitors. The competition in the industry is
notably visible and still the industry is expressively attractive to the new entries as the
industry offers significant development and growth to the organizations operating in the
industry. The industry is able to observe market leaders like Metricon, Meriton, CIMIC group
and Lendlease group. Apart from these, one of the biggest rival of the new company will be
the Hutchinson Builders.
2.3 Target Market:
From the evaluation, it is observed that Australia is notably expanding in terms of
population and with the percentage of increment only reaching higher scales, the country
requires sufficient number of residential places for the citizens of it. In the previous
discussion, it is seen that the major share of the population is the overseas migration and
approximately 50% of the total population belongs to the urban areas of Australia. Majorly
11 important cities of the country are observed to be the places for those 50% where Sydney
and Melbourne jointly covers 40% of the total population (Abs.gov.au. 2019). Hence it is
pretty evident that the people of these cities will face the need of having a residential places
and under such situation, the newly constructed company must target these people as their
potential customers. Considering the demographics, the younger generation will be the main
focus of the company as the younger people belonging to the modern generation have the
major tendency to live separately from their parents. Hence the company should focus on
two different aspects. The target market should be the population of the urban area and at the
same time, the younger generation with 30000 Australian Dollar salary needs to be targeted
by the company.
2.4 Market Competitors:
As the Australian construction industry is significantly developing, the industry is
able to experience considerable number of competitors. The competition in the industry is
notably visible and still the industry is expressively attractive to the new entries as the
industry offers significant development and growth to the organizations operating in the
industry. The industry is able to observe market leaders like Metricon, Meriton, CIMIC group
and Lendlease group. Apart from these, one of the biggest rival of the new company will be
the Hutchinson Builders.
12CONSTRUCTION COMPANY
Metricon is one of the important home building company in the country. The
organization is a private organization having the headquarter in Melbourne (Metricon.com.au
2019). The organization was established in the year 1976 and only serves in Australia. The
organization is able to become a notable force in the Australian construction industry under
the leadership of George Kline, Mario Biasin and Ross Palazessi (Metricon.com.au 2019).
The Housing Industry Association was seen to reward the organization as the Australia’s
largest residential builder for successive years in 2011 and 2012 (Hia.com.au. 2019).
Metricon was able to start 2837 housing in the year 2012-2013 and that made them the third-
largest builder in the nation (Metricon.com.au 2019).
Meriton is one of the largest apartment developer in Australia along with the biggest
residential home builder of the country. The company was founded by Harry Triguboff in the
year 1963 (Meriton.com.au. 2019). The company was able to increase the business in
significant manner in the recent times where the company increased their annual turnover
from 50% to 2 billion US dollar which made them 11th in the list of top 500 companies of
IBISWorld’s 2014 from, the 29th position of the previous year (Ibisworld.com. 2019). The
company was chosen to be the largest residential home builder for more than 5000 housing
starts in the financial year 2014-2015 by the HIA-Colorbond Steel Housing 100 (Hia.com.au.
2019). The improvement in the ranking was significant in stating the development and the
growth of the company and along with that the increment in the number of housing starts
from 2573 of financial year 2013-2014 (Meriton.com.au. 2019). In the financial year 2014-
15, the company had 15000 number of apartments starts in the development pipeline which
shows that the company’s growth will continue in future as well (Meriton.com.au. 2019).
CIMIC Group Limited is one of the market leaders of the construction industry in
Australia. The group of company operates in various industries. The section responsible for
the business conduction in the construction industry is named as CPB Contractors Pty. Ltd
Metricon is one of the important home building company in the country. The
organization is a private organization having the headquarter in Melbourne (Metricon.com.au
2019). The organization was established in the year 1976 and only serves in Australia. The
organization is able to become a notable force in the Australian construction industry under
the leadership of George Kline, Mario Biasin and Ross Palazessi (Metricon.com.au 2019).
The Housing Industry Association was seen to reward the organization as the Australia’s
largest residential builder for successive years in 2011 and 2012 (Hia.com.au. 2019).
Metricon was able to start 2837 housing in the year 2012-2013 and that made them the third-
largest builder in the nation (Metricon.com.au 2019).
Meriton is one of the largest apartment developer in Australia along with the biggest
residential home builder of the country. The company was founded by Harry Triguboff in the
year 1963 (Meriton.com.au. 2019). The company was able to increase the business in
significant manner in the recent times where the company increased their annual turnover
from 50% to 2 billion US dollar which made them 11th in the list of top 500 companies of
IBISWorld’s 2014 from, the 29th position of the previous year (Ibisworld.com. 2019). The
company was chosen to be the largest residential home builder for more than 5000 housing
starts in the financial year 2014-2015 by the HIA-Colorbond Steel Housing 100 (Hia.com.au.
2019). The improvement in the ranking was significant in stating the development and the
growth of the company and along with that the increment in the number of housing starts
from 2573 of financial year 2013-2014 (Meriton.com.au. 2019). In the financial year 2014-
15, the company had 15000 number of apartments starts in the development pipeline which
shows that the company’s growth will continue in future as well (Meriton.com.au. 2019).
CIMIC Group Limited is one of the market leaders of the construction industry in
Australia. The group of company operates in various industries. The section responsible for
the business conduction in the construction industry is named as CPB Contractors Pty. Ltd
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13CONSTRUCTION COMPANY
(Cpbcon.com.au. 2019). The parent company of CPB contractors was also known as
Leighton Holdings. CPB contractors has approximately 23000 number of employees
operating in the various sites of the organization. The current managing director of the
organization is Juan Santamaria. The company is a part of the generation of 23.13 billion
Australian dollar revenue in the year 2012 (Cpbcon.com.au. 2019). Along with this, the
operating income of the group of companies is seen to be 773.2 million Australian dollar in
the year 2012 and the sum is only increasing under the leadership of Michael Wright and
Juan Santamaria, the executive chairman of the CIMIC group and the managing director of
the CPB contractors respectively (Cpbcon.com.au. 2019).
Lendlease is a multinational organizational operating in the construction and real
estate industry. The company was founded in the year 1958 and currently has the headquarter
in Barangaroo (Lendlease.com. 2019). The organization is led by the excellent leadership of
David Crawford and Steve McCann as they are the Chairman and the Chief Executive Officer
of the organization respectively. In addition to this, the excellence in the leadership of the two
key people is visible with the generation of 758.6 million US dollar as the net income in the
year 2017 and 15088.5 million US dollar as the revenue in the year 2016 (Lendlease.com.
2019). One of the major factor in the success of the organization was the skills and the
competencies of the 11000 number of employees of the organization for the year 2016
(Lendlease.com. 2019). With considerable number of projects in the development pipeline,
the organization is capable of becoming a global leader in the industry.
One of the main competitor or rival of the new company will be the Huchinson
Builders. The company was founded in the year 1912 and is currently operational at 17
locations of the country (Hutchinson Builders. 2019). The current chairman, Scott
Hutchinson and the managing director Greg Quinn are the key people of the organizations for
managing the strategic decisions. The organization is currently having the headquarter in
(Cpbcon.com.au. 2019). The parent company of CPB contractors was also known as
Leighton Holdings. CPB contractors has approximately 23000 number of employees
operating in the various sites of the organization. The current managing director of the
organization is Juan Santamaria. The company is a part of the generation of 23.13 billion
Australian dollar revenue in the year 2012 (Cpbcon.com.au. 2019). Along with this, the
operating income of the group of companies is seen to be 773.2 million Australian dollar in
the year 2012 and the sum is only increasing under the leadership of Michael Wright and
Juan Santamaria, the executive chairman of the CIMIC group and the managing director of
the CPB contractors respectively (Cpbcon.com.au. 2019).
Lendlease is a multinational organizational operating in the construction and real
estate industry. The company was founded in the year 1958 and currently has the headquarter
in Barangaroo (Lendlease.com. 2019). The organization is led by the excellent leadership of
David Crawford and Steve McCann as they are the Chairman and the Chief Executive Officer
of the organization respectively. In addition to this, the excellence in the leadership of the two
key people is visible with the generation of 758.6 million US dollar as the net income in the
year 2017 and 15088.5 million US dollar as the revenue in the year 2016 (Lendlease.com.
2019). One of the major factor in the success of the organization was the skills and the
competencies of the 11000 number of employees of the organization for the year 2016
(Lendlease.com. 2019). With considerable number of projects in the development pipeline,
the organization is capable of becoming a global leader in the industry.
One of the main competitor or rival of the new company will be the Huchinson
Builders. The company was founded in the year 1912 and is currently operational at 17
locations of the country (Hutchinson Builders. 2019). The current chairman, Scott
Hutchinson and the managing director Greg Quinn are the key people of the organizations for
managing the strategic decisions. The organization is currently having the headquarter in
14CONSTRUCTION COMPANY
Brisbane. The company is significantly developing and that is visible from the statistics that
the organization for the generation of the revenue. In the financial year 2017-2018, the
organization is able to generate 2.6 billion Australian dollar as the revenue at the same time
the equity for the organization is observed to be 300 million US dollar (Hutchinson Builders.
2019). The organization in the mentioned financial year had 1700 number of employees and
the excellence of the employees enabled the organization to construct 300 projects per year
with 35 individual teams operating at 17 locations (Hutchinson Builders. 2019).
3. Marketing strategies and implementation:
3.1 SWOT Analysis:
Strengths:
The organization has the strength of having a significant market in the Australian
region. As mentioned earlier that the industry is notably developing and is subjected to a
lucrative growth, the economy and the GDP growth of the organization will be the main
strength of the organization (Kenley 2014). The company will be subjected to a growing
industry and that will certainly decrease the threat of survival along with triggering it towards
higher growth.
Weakness:
The weakness of the company is the lack of reputation or the promotion. As the
company is not established yet, the people of Australia will face notable amount of difficulty
in trusting the organization and at the same time, the company will find it notably difficult in
attracting the customers for their business. As the company is new, it will face considerable
amount of preliminary obstacles. Apart from that, the lack of the business network of the
company has the potential to act in the detrimental fashion to the organization.
Brisbane. The company is significantly developing and that is visible from the statistics that
the organization for the generation of the revenue. In the financial year 2017-2018, the
organization is able to generate 2.6 billion Australian dollar as the revenue at the same time
the equity for the organization is observed to be 300 million US dollar (Hutchinson Builders.
2019). The organization in the mentioned financial year had 1700 number of employees and
the excellence of the employees enabled the organization to construct 300 projects per year
with 35 individual teams operating at 17 locations (Hutchinson Builders. 2019).
3. Marketing strategies and implementation:
3.1 SWOT Analysis:
Strengths:
The organization has the strength of having a significant market in the Australian
region. As mentioned earlier that the industry is notably developing and is subjected to a
lucrative growth, the economy and the GDP growth of the organization will be the main
strength of the organization (Kenley 2014). The company will be subjected to a growing
industry and that will certainly decrease the threat of survival along with triggering it towards
higher growth.
Weakness:
The weakness of the company is the lack of reputation or the promotion. As the
company is not established yet, the people of Australia will face notable amount of difficulty
in trusting the organization and at the same time, the company will find it notably difficult in
attracting the customers for their business. As the company is new, it will face considerable
amount of preliminary obstacles. Apart from that, the lack of the business network of the
company has the potential to act in the detrimental fashion to the organization.
15CONSTRUCTION COMPANY
Opportunities:
As mentioned earlier, considerable number of the Australian people are working in
the mentioned industry and operating efficiently. The company will have the opportunity of
having skilful employees. In the modern business context, the skilful and the qualified
employees have the potential to provide the quality work and that plays a crucial role in
favour of the organizations (Ashworth and Perera 2018). The maintenance of the quality in
the modern competitive business context are observed to be of great significance and
considering that, the company will be subjected to great opportunity of having employees
who can increase the reputation of the organization.
Threats:
The threat will be the increased number of existing competitors. The construction
industry in Australia is significantly attractive and has the potential to contribute in the
development and growth of the companies operating in Australia. However, this was
significant in attracting considerable number of the organizations for conducting their
business. Currently the market share is divided among various organizations like Huchinson
Builders, Lendlease, CIMIC Group Limited, Meriton and Metricon. The intense market
competition among these mentioned organizations and the formation of the brand of these
organizations are significant threat to the new company.
3.2 Unique Selling Proposition:
The unique selling proposition of the company is the usage of the quality material for
the construction work. The company has the objective of using the standard materials for the
purpose of the construction. The company will not compromise in case of quality in the
materials and considers that the usage of the standard material will be significant for the
increased durability of the construction work. The newly formed company will use materials
in accordance to the various series of the standardization. For the timbers, the organization
Opportunities:
As mentioned earlier, considerable number of the Australian people are working in
the mentioned industry and operating efficiently. The company will have the opportunity of
having skilful employees. In the modern business context, the skilful and the qualified
employees have the potential to provide the quality work and that plays a crucial role in
favour of the organizations (Ashworth and Perera 2018). The maintenance of the quality in
the modern competitive business context are observed to be of great significance and
considering that, the company will be subjected to great opportunity of having employees
who can increase the reputation of the organization.
Threats:
The threat will be the increased number of existing competitors. The construction
industry in Australia is significantly attractive and has the potential to contribute in the
development and growth of the companies operating in Australia. However, this was
significant in attracting considerable number of the organizations for conducting their
business. Currently the market share is divided among various organizations like Huchinson
Builders, Lendlease, CIMIC Group Limited, Meriton and Metricon. The intense market
competition among these mentioned organizations and the formation of the brand of these
organizations are significant threat to the new company.
3.2 Unique Selling Proposition:
The unique selling proposition of the company is the usage of the quality material for
the construction work. The company has the objective of using the standard materials for the
purpose of the construction. The company will not compromise in case of quality in the
materials and considers that the usage of the standard material will be significant for the
increased durability of the construction work. The newly formed company will use materials
in accordance to the various series of the standardization. For the timbers, the organization
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16CONSTRUCTION COMPANY
will follow the AS 1684.2-2010 Residential Timber Framed Construction Non-Cyclonic
Areas, AS 1684.3-2010 Residential Timber Framed Construction Cyclonic Areas, AS
1684.4-2010 Residential Timber Framed Construction – Simplified-Non-Cyclonic Areas. For
the steel and metals, the organization will follow the EN 10168: 2004 and EN 10204:2004
guidelines. For the iron, the company will follow a series of standards like AS 1830-2007, AS
1831-2007, AS 1832-2007, AS 2027-2007, AS 5049-2007 and AS 5052-2007. For the
cements, the company is expected to follow the guidelines of the AS 2350, AS3582 and AS
3972-2010. For the glass, the organization must follow AS 1288-2006, AS 1288 Supp 1-
2008, AS 1288-2006, AS/NZS 2208:2006 guidelines. The collection of the materials in the
mentioned form will certainly increase the durability of the products of the organization and
will increase the customer satisfaction. Hence the effective follow up of the guidelines and
the standards for the collection of the materials will produce significant advantage to the
organization over others.
3.3 Competitive Edge:
The company is expected to gain a significant competitive advantage using the below
mentioned strategies:
The company is expected to increase the number of the business networks and the
global partners for the expansion of the business and achieving a competitive edge over the
other organizations of the industry.
The organization is expected to use competitive and risky strategies to make sure that
the other organizations are not able to use them in favour of them. Along with this, the
introduction of the innovative strategy and plan regarding the operations of the construction
will be significant for the organization to get the limelight of the market.
will follow the AS 1684.2-2010 Residential Timber Framed Construction Non-Cyclonic
Areas, AS 1684.3-2010 Residential Timber Framed Construction Cyclonic Areas, AS
1684.4-2010 Residential Timber Framed Construction – Simplified-Non-Cyclonic Areas. For
the steel and metals, the organization will follow the EN 10168: 2004 and EN 10204:2004
guidelines. For the iron, the company will follow a series of standards like AS 1830-2007, AS
1831-2007, AS 1832-2007, AS 2027-2007, AS 5049-2007 and AS 5052-2007. For the
cements, the company is expected to follow the guidelines of the AS 2350, AS3582 and AS
3972-2010. For the glass, the organization must follow AS 1288-2006, AS 1288 Supp 1-
2008, AS 1288-2006, AS/NZS 2208:2006 guidelines. The collection of the materials in the
mentioned form will certainly increase the durability of the products of the organization and
will increase the customer satisfaction. Hence the effective follow up of the guidelines and
the standards for the collection of the materials will produce significant advantage to the
organization over others.
3.3 Competitive Edge:
The company is expected to gain a significant competitive advantage using the below
mentioned strategies:
The company is expected to increase the number of the business networks and the
global partners for the expansion of the business and achieving a competitive edge over the
other organizations of the industry.
The organization is expected to use competitive and risky strategies to make sure that
the other organizations are not able to use them in favour of them. Along with this, the
introduction of the innovative strategy and plan regarding the operations of the construction
will be significant for the organization to get the limelight of the market.
17CONSTRUCTION COMPANY
The organization is expected to set practical targets for the growth and at the same
time, the company must effectively strategize to reduce the operational cost of the
organization. This will make sure that the effectiveness of the organizations be in such place
that the organization gets the competitive edge over the other competitors. Along with this,
the company is expected to introduce the relevant technological applications for increasing
the efficiency of the company (Myers 2016). It is observed that various organizations in the
industry are taking the advantage of the telematics and along with that, the construction
software applications are used by many of the leading organizations in order to effectively
monitor and control the cost, the performance of the employees, the sales and the generation
of the revenue (Myers 2016).
3.4 Marketing Strategy:
Promotion:
The authority of the organization is in need to start both offline and online
promotional activities to make sure that the organization be able to attract the customers. As
the Australian people are significantly tech-savvy, the company must follow the path of the
social media for the promotional activities. Apart from that the launching event will be a
significant option for the organization in attracting the market limelight.
Pricing:
As mentioned earlier, the prime focus of the organization is in extracting good quality
materials for the construction work and in doing so, the high prices of the products is not a
factor to bother the authority of the organization. However, the organization must make sure
that they be able to provide some discounts to the new customers to attract the attention of
them. In order to implement this, the authority is responsible for employing a onetime
discount of 5% on the construction of the houses.
The organization is expected to set practical targets for the growth and at the same
time, the company must effectively strategize to reduce the operational cost of the
organization. This will make sure that the effectiveness of the organizations be in such place
that the organization gets the competitive edge over the other competitors. Along with this,
the company is expected to introduce the relevant technological applications for increasing
the efficiency of the company (Myers 2016). It is observed that various organizations in the
industry are taking the advantage of the telematics and along with that, the construction
software applications are used by many of the leading organizations in order to effectively
monitor and control the cost, the performance of the employees, the sales and the generation
of the revenue (Myers 2016).
3.4 Marketing Strategy:
Promotion:
The authority of the organization is in need to start both offline and online
promotional activities to make sure that the organization be able to attract the customers. As
the Australian people are significantly tech-savvy, the company must follow the path of the
social media for the promotional activities. Apart from that the launching event will be a
significant option for the organization in attracting the market limelight.
Pricing:
As mentioned earlier, the prime focus of the organization is in extracting good quality
materials for the construction work and in doing so, the high prices of the products is not a
factor to bother the authority of the organization. However, the organization must make sure
that they be able to provide some discounts to the new customers to attract the attention of
them. In order to implement this, the authority is responsible for employing a onetime
discount of 5% on the construction of the houses.
18CONSTRUCTION COMPANY
Place:
However, the entire Australia is joining the growth of the construction industry, the
company must choose the city of Brisbane for the establishment. The reason behind this, is
the comparatively limited number of competitors for the organization in that region.
Hutchinson Builders is the only possible prime rival of the organization in hat region and that
is significantly attractive for the organization for experiencing limited amount of competition
compared to the other cities or regions.
Product:
The product for the organization is the construction of the residential places or homes.
The company has the objective to operate in the construction industry and construct places
for the Australian people to live.
3.5 Pricing Strategy:
As the company is new to the industry, the suitable pricing strategy for them will be
the pricing for penetration policy (Murray and Dainty 2013). However, the organization
wants a steady pricing strategy which will be sufficient for them in using the good quality
materials for the construction work, but as the company is on the verge of entering the market
or the industry for the first time, it has to employ lower pricing strategies to make sure that
they be able to attract the customers. As the company is new to the industry, the customers
will not have a great share of knowledge regarding them and under such situation, the lower
pricing strategy will be effective in highlighting their business and in capturing a good share
of the market.
3.6 Advertising Strategies:
The organization is expected to conduct both online and offline promotional activities
in order to highlight the business operations of them. As the people of Australia are notably
Place:
However, the entire Australia is joining the growth of the construction industry, the
company must choose the city of Brisbane for the establishment. The reason behind this, is
the comparatively limited number of competitors for the organization in that region.
Hutchinson Builders is the only possible prime rival of the organization in hat region and that
is significantly attractive for the organization for experiencing limited amount of competition
compared to the other cities or regions.
Product:
The product for the organization is the construction of the residential places or homes.
The company has the objective to operate in the construction industry and construct places
for the Australian people to live.
3.5 Pricing Strategy:
As the company is new to the industry, the suitable pricing strategy for them will be
the pricing for penetration policy (Murray and Dainty 2013). However, the organization
wants a steady pricing strategy which will be sufficient for them in using the good quality
materials for the construction work, but as the company is on the verge of entering the market
or the industry for the first time, it has to employ lower pricing strategies to make sure that
they be able to attract the customers. As the company is new to the industry, the customers
will not have a great share of knowledge regarding them and under such situation, the lower
pricing strategy will be effective in highlighting their business and in capturing a good share
of the market.
3.6 Advertising Strategies:
The organization is expected to conduct both online and offline promotional activities
in order to highlight the business operations of them. As the people of Australia are notably
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19CONSTRUCTION COMPANY
tech-savvy, the company must undertake relevant advertising activities with precise focus on
the online. The company is expected to promote themselves and the business operations of
them through the social media platforms like the Facebook, YouTube and the Twitter
(Mokhtariani, Sebt and Davoudpour 2017). Apart from this, the organization must have an
attractive and informative website for the ease of the customers in finding relevant
information regarding the organization. In the offline advertising, the organization is
responsible for investing in the creation of the posters and billboards along with spreading the
leaflets.
4. Risk Management:
The organization is expected to be subjected to largely three types of risk which are
agency type, program type and project type (Harris and McCaffer 2013).
In the agency type of the risks, the responsibility of managing that will be on the
executives of the organization. The type of risks in this case can be the issues that affect the
achievement of the goals or he business objectives of the organization with involvement with
the multiple functions. The strategy for this case, will be to use such a plan which enhances
the success of the entire organization instead of a single or a particular business unit.
In the program type of the risks, the program managers are the responsible individuals
for managing the risk. The type of the risks are mainly the risks which are associated with the
cluster of the projects, business units and the programs. In order to manage this type of risk,
the program managers are responsible to make sure that they create the program contingency
fund and they effectively allocate the resources.
In the project type of risks, the responsibility of managing the risk is on the project
manager. In this type of risks, the risks are specifically related to the projects. The strategy to
solve this type of risk must include the usage of the advanced analysis techniques, the usage
tech-savvy, the company must undertake relevant advertising activities with precise focus on
the online. The company is expected to promote themselves and the business operations of
them through the social media platforms like the Facebook, YouTube and the Twitter
(Mokhtariani, Sebt and Davoudpour 2017). Apart from this, the organization must have an
attractive and informative website for the ease of the customers in finding relevant
information regarding the organization. In the offline advertising, the organization is
responsible for investing in the creation of the posters and billboards along with spreading the
leaflets.
4. Risk Management:
The organization is expected to be subjected to largely three types of risk which are
agency type, program type and project type (Harris and McCaffer 2013).
In the agency type of the risks, the responsibility of managing that will be on the
executives of the organization. The type of risks in this case can be the issues that affect the
achievement of the goals or he business objectives of the organization with involvement with
the multiple functions. The strategy for this case, will be to use such a plan which enhances
the success of the entire organization instead of a single or a particular business unit.
In the program type of the risks, the program managers are the responsible individuals
for managing the risk. The type of the risks are mainly the risks which are associated with the
cluster of the projects, business units and the programs. In order to manage this type of risk,
the program managers are responsible to make sure that they create the program contingency
fund and they effectively allocate the resources.
In the project type of risks, the responsibility of managing the risk is on the project
manager. In this type of risks, the risks are specifically related to the projects. The strategy to
solve this type of risk must include the usage of the advanced analysis techniques, the usage
20CONSTRUCTION COMPANY
of the risk mitigation strategies in consistent manner along with the contingency planning
(Serpella et al. 2014).
Conclusion:
On a concluding note, the organization has all the possibility to become a market
leader of the industry. The Australian construction market is seen to be significantly growing
and has all the potential to become one of the major source of the national GDP. The
establishment of the company in the Australian construction industry will be notably good as
the company will be subjected to significant amount of opportunities in the Australian
market. However it is seen that the company lacks the formation of such a brand which will
attract the customers and along with that, the company is in need to promote their business
activity. The online and the offline promotional activities are expected to meet that need for
the organization.
of the risk mitigation strategies in consistent manner along with the contingency planning
(Serpella et al. 2014).
Conclusion:
On a concluding note, the organization has all the possibility to become a market
leader of the industry. The Australian construction market is seen to be significantly growing
and has all the potential to become one of the major source of the national GDP. The
establishment of the company in the Australian construction industry will be notably good as
the company will be subjected to significant amount of opportunities in the Australian
market. However it is seen that the company lacks the formation of such a brand which will
attract the customers and along with that, the company is in need to promote their business
activity. The online and the offline promotional activities are expected to meet that need for
the organization.
21CONSTRUCTION COMPANY
References:
Abcc.gov.au. 2019. Australian Building and Construction Commission. [online] Available at:
https://www.abcc.gov.au/
Abs.gov.au. 2019. Population - Australian Bureau of Statistics. [online] Available at:
http://www.abs.gov.au/Population
Aib.org.au 2019. Australian Institute of Building – Advance through learning. [online]
Aib.org.au. Available at: https://www.aib.org.au/
Aph.gov.au. 2019. Home – Parliament of Australia. [online] Available at:
https://www.aph.gov.au
Ashworth, A. and Perera, S., 2018. Contractual procedures in the construction industry.
Routledge.
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22CONSTRUCTION COMPANY
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23CONSTRUCTION COMPANY
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Serpella, A.F., Ferrada, X., Howard, R. and Rubio, L., 2014. Risk management in
construction projects: a knowledge-based approach. Procedia-Social and Behavioral
Sciences, 119, pp.653-662.
Shoory, M., 2016. The growth of apartment construction in Australia. RBA Bulletin, pp.19-
26.
Wu, P., Pienaar, J., O’Brien, D. and Feng, Y., 2013. Delivering construction education
programs through the distance mode: Case study in Australia. Journal of Professional Issues
in Engineering Education and Practice, 139(4), pp.325-333.
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