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Blueprint for EC Firms - New Research Released
As of March 24, 2017
February 26, 2014
ELECTRI International – The Foundation for Electrical Construction, Inc. has released the lasted research study in its series on Electrical Construction 2020: Strategies for Electrical Contracting Business Development.
The Blueprint for Electrical Contracting Firm Business Development was generated by a team of investigators working with a Task Force of 16 electrical contracting industry leaders. The researchers define business development as the leadership function that ensures a sustainable business future for an EC firm through continuous improvements to its processes and services to better meet current and future customer needs.
The premise of the study is that business development is not just about a new service or technology that an EC firm can offer its customers. It is equally about employing innovative ways of delivering business process or production process services in a highly competitive market.
The researchers created a manual that provides EC firms with an understanding of business development and explains why business development is crucial to a firm’s continued success and survival. The manual also shows through examples and case studies how to implement – successfully – a business development strategy.
While the manual applies to EC firms of all sizes, its focus is on smaller EC firms (the majority of the industry) that may not have the time and resources to dedicate to business development. The manual provides a step-by-step process for EC firms to develop a business plan by addressing each of seven key elements: Purchaser/Customer, Product/Service, People, Production/Delivery, Promotion, Pricing, and Profit.
The lead investigators for this study include Thomas E Glavinich, D.E., P.E., The University of Kansas; David R Riley, Ph.D., Pennsylvania State University; and Justin Reginato, Ph.D., P.E., LEED Green Associate, California State University, Sacramento.
The Blueprint is available at http://www.electri.org/research/blueprint-electrical-contracting-firm-business-development.