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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.