Succession - There is No One Best Way

When it comes to relatively simple and repetitive tasks like bending conduit or framing a wall, there is a “One Best Way” as described by Frederick Winslow Taylor, who is known as the father of Scientific Management.

D. Brown Management Profile Picture
Share

W. Edwards Deming continued building on this with the PDCA cycle that has become a foundational part of the lean principles. 

Succession: V.U.C.A. Environments. Volatile, Uncertain, Complex, and Ambiguous.

However, as systems become more complex (or V.U.C.A.), such as operating a company or succession planning, there is not a single “One Best Way” that will work in all situations.  

As contractors that focus relentlessly on building efficiently, it is our tendency to want to quickly figure out that “One Best Way,” making us susceptible to advice that leans in that direction.  

As you are selecting your third-party advisors, make sure to run quickly from those that insist that there is “One Best Way.”

Your focus needs to be on learning the multiple paths, understanding the pros and cons, then deciding on the path you are going to take up the mountain. 


Succession - There is No One Best Way
Continue building value in your business, yourself and your key team members with a good succession strategy....

Succession - There is No One Best Way
Continue building value in your business, yourself and your key team members with a good succession strategy....

Understanding the Construction Field Day
For a contractor to truly improve their field productivity, they must start with understanding how the time is spent. Depending on the trade, project, and the labor, study the time spent on actual installation ranges from 50-64%.
Cash Flow Explained
Contractors run on very thin profit margins however cash flow is even more important for sustainable growth. Poor cash flow is a primary reason for contractors failing or their profitable growth being seriously constrained.
Cash Flow: Key Reasons Why
Cash flow is one of the 7 basic objectives of a construction project team and one of the 7 drivers of contracting business valuation.