Strategic Management and Risk Assessment Advice for Small Businesses in the Custom Home Building Industry

Abstract

Understanding the processes that exist within production will help enable companies to determine where weaknesses lie and what steps can be taken to eliminate waste. Indeed, by establishing a constructive atmosphere where employees are able to share information and interact freely with each other will prevent behavioral issues and help the organization remain productive and customer-friendly. The concept of strategic planning can also allow companies to take advantage of new opportunities and attain new goals through the use of tactical scheduling and calculated forecasts. Moreover, utilizing an elaborate marketing strategy can be the foundation by which a business becomes and remains successful. This paper is an examination of the custom home building industry, and how it may follow the guideposts of (1) operations management, (2) organizational behavior, (3) strategic management and risk assessment, and (4) marketing, to gain a competitive edge on the competition.