Business Management in Residential Construction
15 Hours 

Course Outline: Business Management in Residential Construction

Course Description:

This intensive course is designed to equip professionals with the advanced skills and knowledge necessary to manage a successful residential construction business. Focus areas include leadership through change, effective communication, goal-setting, benchmarking, and production standards. Participants will enhance their expertise in customer service, accounting, sales, and marketing to drive profitability and business growth.

Course Objectives:

Develop and implement a clear business vision, objectives, and goals.

Establish a comprehensive code of ethics and define company values.

Align business strategies with financial planning to ensure long-term success.

Master financial management practices including income statements, balance sheets, and cash flow analysis.

Create and execute effective marketing and sales strategies.

Understand various business structures and their implications.

Implement robust management control systems.

Lead organizational change and enhance communication skills.

Course Modules:

Module 1: Business Vision, Objectives, and Goals

Company Rationale, Values, Directions, and Risks: Define the core values, strategic direction, and risk factors of your business.

Statement of Ethics: Establish and adhere to a comprehensive code of ethics.

Products and Services: Develop and refine the offerings of your business.

Integration with Financial Plan: Align business vision and goals with financial planning strategies.

Module 2: Financial Plan

Income Statements: Analyze and prepare income statements to assess profitability.

Balance Sheets: Understand and create balance sheets to evaluate financial stability.

Cash Flow: Manage cash flow to ensure liquidity and operational efficiency.

Mark-Up: Calculate and apply mark-up strategies to maintain profit margins.

Module 3: Marketing Plan

Market Research Methods and Terms: Conduct thorough market research to inform business decisions.

Elements of Marketing Planning: Develop comprehensive marketing plans covering:

oMarket Environment

oTarget Market

oPositioning

oPricing Strategy

oSales Strategy

Module 4: Operating Plan

Business Structures: Understand the nuances of various business structures, including:

oSole Proprietorships

oPartnerships

oCorporations

oLimited Partnerships

oPartnerships of Corporations

Major Functions of a Residential Business: Identify and manage key functions within a residential construction business.

Management Control Systems: Implement control systems to ensure efficient and effective operations.

Business Goals, Objectives, Sales, and Financial Measures: Set realistic and measurable business goals and objectives.

Protecting the Business: Develop strategies to safeguard your business against risks.

Module 5: Managing Change

Lead and Manage Change: Effectively lead and manage change within your organization.

Effective Communication: Enhance communication skills to improve team collaboration and stakeholder engagement.

Examination:

The online course culminates in a comprehensive final exam designed to test participants' mastery of the course material.

Exam Details:

oDuration: 2 hours

oPassing Grade: 70%

oImportant Note: Once started, the exam timer cannot be paused or stopped.

This course prepares participants to strategically manage their residential construction businesses, ensuring sustainable growth and long-term success.