Construction Business Competitive Analysis
Assess Construction Business Strengths, Weaknesses, Opportunities and Threats (SWOT)
A “SWOT” analysis is a practical business tool used by new or existing business owners and managers to assess the strengths, weaknesses, opportunities and threats of an existing business or new business idea. This tool facilitates analysis and brainstorming and provides a framework for formulating business strategy and an overall direction for a business entity.
The SWOT framework is used by companies in every industry to assess internal company strengths and weaknesses and external opportunities and threats. By looking at both internal and external factors to success, construction business owners and managers can identify the critical path to strengthening business operations and market presence to achieve overall construction business goals.
Examples of internal factors include strength of company leadership and management team, market positioning and adaptability, project/service delivery track record, partnerships/alliances, customer relationships, business operations, project operations and financial resources. Examples of external factors include economic, legislative and industry trends, changes in customer needs, market and competitive forces (i.e., pricing) and availability of credit.
We have created a SWOT Analysis tool that is specifically geared to the construction industry. Use the SWOT Analysis Worksheet located in the Executive Tool Box to:
- Review the merits of starting a construction contracting business in the current market environment.
- Brainstorm on short and long-term business goals and priorities.
- Identify the critical success drivers of your business.
- Evaluate construction industry trends and how they could impact the business.
- Map out a workable construction business strategy and overall direction to achieve business success.
- Determine approach to ongoing construction business management.
We welcome your feedback and look forward to hearing from you. Please contact us at firstname.lastname@example.org
10 BUILDING BLOCKS
- Assess opportunities and risks
- Think strategically
- Create a realistic marketing plan
- Build an organization that delivers
- Develop a strong and versatile team
- Optimize company efficiency
- Deliver what you promised
- Minimize exposure to liability
- Maximize profits and building a strong equity base
- Keep your competitive edge