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Change Is Coming!. “Because the recession is so severe, and because of the unique way in which it happened, we can be sure that it will change the world in several big, long lasting ways.” Geoff Colvin, The Upside of the Downturn. How to Thrive Coming Out of the Recession. Ted Garrison - PowerPoint PPT Presentation
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1 1www.conexpoconagg.com
Change Is Coming!
“Because the recession is so severe, and because of the
unique way in which it happened, we can be sure that
it will change the world in several big, long lasting ways.”
Geoff Colvin, The Upside of the Downturn
2 2www.conexpoconagg.com
How to Thrive Coming Out of the Recession
Ted GarrisonNew Construction Strategies
800-861-0861
3 3www.conexpoconagg.com
Self-Inflicted Wound
“In many industries, what some call hyper competition is a self-
inflicted wound.”Michael Porter
4 4www.conexpoconagg.com
The New Reality!
“For business, it’s no longer enough to create a product
that’s reasonably priced and adequately functional.”
Daniel PinkA Whole New Mind
5 5www.conexpoconagg.com
Too Many People In the Construction Business Are Insane!
● Albert Einstein defines insanity as: “Doing the same thing over and over and expecting to get different results.”
● What’s needed is a superior strategy!
6 6www.conexpoconagg.com
Blue Ocean Contracting• Blue Ocean Contracting creates a new or
redefines the construction industry• Blue Ocean Contractors &Vendors typically
redefine the market• Blue Ocean Contractors out-think the
competition• Blue Ocean Contractors create new demand
instead of fighting over existing demand• Blue Ocean Contracting is the responsible way
to maximize opportunity & minimize risk
7 7www.conexpoconagg.com
2 Schools of Thought• Agile• Operational – improve operations & processes• Strategic – seizing on new opportunities or markets
• Toughen up for battle• Lower costs • Build a war chest of funds to ride it out• Protect the core
• 3rd Option – Combination• Be tough without sacrificing agility• Manage the trade-offs• Think agile
8 8www.conexpoconagg.com
10 Critical Business Practices
1.Effective leadership2.Strategic thinking3.Value-based construction4.Continuous innovation5.360° collaboration6.Systems based7.Effective risk management8.Lean operations9.Better use of technology10.Measurement
9 9www.conexpoconagg.com
Avoid Subjective Decisions!Event - Project
Initial conditionsFinal
conditions
Time• The more info we have before the event,
the easier it is to predict the final outcome
• The less info we have before the event, the harder it is to predict the final outcome
• However, the lack of info will never change the final outcome
• Probability occurs when people don’t understand
• Must think proactively – not reactively
10 10www.conexpoconagg.com
Effective Leadership• Leadership is not about control• Leadership is about the ability to perceive, in
essence to look ahead, then allocate the resources (human & capital) in the best possible way.
• Jim Collins referred to this as “Getting the right people on the bus in the right seats.”
• “Leadership is the capacity to engage people & groups outside one’s formal control & inspire them to work toward common goals – despite differences in convictions, cultural values, and operating norms.” H. Ibarra & M. Hansen
11 11www.conexpoconagg.com
Strategic Thinking• Effective planning – whether a company’s
strategic plan, project planning, or solving a problem – requires Strategic Thinking
• Effective Strategic Thinking requires leadership and a process
• 5 – Step Strategic Thinking process• Get the right people involved• Define the problem• Develop possible solutions• Identify the right options• Execute the strategy
12 12www.conexpoconagg.com
Value-based Construction
• Upstream activities (sourcing, production, & logistics) are being commoditized, while downstream activities that reduce customer’s costs or risks are becoming the drivers of value creation & a competitive advantage
• Need to focus on pre-construction activities
• Need to focus on life-cycle costs
13 13www.conexpoconagg.com
Continuous Innovation• “Tomorrow’s victories will go to the masters
of innovation! Period!” Tom Peters
• What’s the purpose of outsourcing?• Innovation!
• Focus on desired outcomes – not fixing a problem
• Keys to innovation• Continuous learning • Continuous improvement• Empowering everyone
14 14www.conexpoconagg.com
360° Collaboration• The more complex a system the greater the
need for collaboration
• Involve the people who must do it
• IPD/Design-build works because it embraces collaboration between all supply chain members
• What’s the most important task for PM’s and superintendents?• Identifying client problems
15 15www.conexpoconagg.com
Questions?
16 16www.conexpoconagg.com
Final Thoughts• Challenge conventional wisdom• Throw away the box! Think big – not small• Stop thinking as a contractor – think like
someone out to find solutions• Accept that change is coming to the
contracting business – like it or not – or you will lose the battle!
• Is it easy? Absolutely not, but it’s better than doing the same old things!
17 17www.conexpoconagg.com
How to Thrive Coming Out of the Recession
Ted GarrisonNew Construction Strategies
800-861-0861