Jaselskis, E J; Kurtenbach, J M and Forrest, J (2002) Enhancing financial success among electrical contractors. Journal of Construction Engineering and Management, 128(1), pp. 65-75. ISSN 0733-9364
Abstract
This paper provides electrical contractors with significant information related to enhancing company financial performance. The methodology involves understanding the determinants of contractor financial success through: (1) an extensive literature review; (2) collection of financial- and management-related data from electrical contractors; and (3) analysis of data to identify management trends that are more prevalent in profitable firms. Ninety-six usable responses were collected from small, medium, and larger electrical contracting companies. General trends reveal that more profitable firms place greater emphasis in the areas of certain management initiatives (higher lines of credit and supporting continuing education), marketing initiatives (involvement in formal alliances and partnering), and technology initiatives related to spending more capital resources on computers and software. Significant differences are revealed with financial ratios as well. A Financial Success Scorecard is created for firms to compare their management inputs to those of successful firms. Findings from this study could provide helpful guidelines for nonelectrical contracting firms. Recommendations for achieving future financial success are also provided.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | contractors; financial management |
| Index terms: | scorecard, financial performance, methodology, financial ratio, continuing education, literature review, marketing, determinant, financial management, partnering |
| Subjects: | economic analysis, data analysis and analytics, business, risk assessment, partnership management, professional development, research methods, business analysis, performance measurement |
| Topics: | Stakeholder Management, Risk Management, Research Practice, Business Strategy, Education, Quality Management |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here