Raleigh, N.C., February 4, 2010 — After more than a year of reading about and experiencing firsthand the “perfect storm” of economic collapse and markets in recession, some construction companies are starting to find dry land. The question now is, will these companies be relieved to find themselves washed up on the beach a survivor or will they emerge from the stormy seas determined to plot a new course for the company?
FMI, management consultants and investment bankers to the construction industry, releases its 2010 Special Report: Contractor Strategy, Emerging From the Perfect Storm.
The report details and analyzes the responses to FMI’s Nonresidential Construction Index (NRCI) concerning the basis for strategic planning and navigation through the most treacherous markets we have experienced in decades.
Four Common Strategic Myths:
1. The future is likely to mirror the past.
2. Yesterday’s strategy will be sufficient to guide our organization into the future.
3. If we can just make it through 2010 and early 2011, we will be fine.
4. Now is not the time to make bold changes.
The report looks at each of these myths, discusses the associated implications and suggests a series of recommendations.
According to Briston Blair, co-author of the report, “There are many possible futures facing the industry, and those firms preparing and adapting their strategies now will be there to win big when the market recovers.”
Click to View the Report
FMI is the largest provider of Management Consulting and Investment Banking to the worldwide construction industry.
Founded in 1953 by Dr. Emol A. Fails, FMI delivers innovative, customized solutions to contractors; architects and engineers; construction materials producers; manufacturers and suppliers of building materials and construction equipment; private owners, managers, and developers; residential builders; utility companies; surety companies and industry trade associations.
FMI creates value through enhanced performance of companies, teams and individuals and by mitigating risk. FMI is headquartered in Raleigh, N.C., and has offices in Denver, Phoenix and Tampa, Fla. For more information, visit www.fminet.com .