A construction company is one that pulls together all the required resources and machinery to facilitate construction of infrastructure. Loima is a specialized company in the buildings sectors that source for and sub-contracts contracts to suitable contractors who will in turn carry out the construction of the buildings depending on the company’s specification (Bildsten & Manley, 2015). Clients make the specifications and payments to the company for the projects they want to undertake. The company after the contractor finishes his works assesses the quality of the work done and ensure what they deliver to its customers is equivalent to their needs.
Loima Construction Company is owned by Dr. Onchego Loima who happens to my uncle. I once worked in the company as volunteer an aspect that made me gave me accesses to understand most of the activities that take place within the company offices, finance records, field work activities and assessment of delivered work by contractors. I handled most of the company affairs since I served in the supervisory team. In absentia of Dr. Onchego, I would foresee all the dealings taking place and take part in all managerial duties of signing contracts for the clients who would wish to have their houses built by the company.
The company having gained trust from its customers due to good quality work delivered to them, it has gained a reputable status throughout the locality. In the recent past the company has started venturing into the real estate industry. It buys land around major towns since that is where most individuals purchase private homes (Le Breton & Aggeri, 2018). The company then builds modern houses at its own expense then through continuous advertisement, interested buyers are attracted an aspect that leads to the company selling the houses at double price of the land and construction purchase cost. Many of the people who buy the houses associated with this company after a study to find out whether they think they lost their money to a non-prime property suggest that they have found the best quality houses around (Schwartzman and Sanchez, 2016). These good customer relations have led a higher demand of such houses around the cities an aspect that has put the company in constant pressure to acquire more land and undertake the projects which are later rolled out to the customers.
The company has also begun purchasing apartments within the city and neighboring towns. With an aim of venturing into the housing sector, the company reconstructing poorly constructed houses and renovating the ones that are constructed as per the rules and regulations but in poor state. A number of houses have already been bought. Renovation and renting has been done in some of the apartments and the tenants pay the company monthly dues (Pretti & Vieira, 2016). In future the companies aim is to have an entire location littered with houses belonging to it and millions of tenants who enjoy the services of the company. Dr.Onchego has now fully hired individuals to take care of the business side of the company as he works on new innovation strategies.
Economically the venture is making dramatic changes in the lives of stakeholders. This is because the employees of the company get paid as well as given tokens of appreciation whenever they undertake impressive steps not necessarily to excite the boss but with the determination and betterment of the company. Employment has been provided in different capacities beginning from the management who ran the affairs of the company to the many caretakers who are allocated in the many apartments to cater for the needs of the tenants (Tamer,Yoon & Hastak, 2012). This company is economically viable to the government since it takes part in funding projects to help the needy in the society and pays tax dues without dodging.
Socially the venture is impacting customer’s lives majorly by changing their status quo. This is evident in the services offered such as building for customers who get in touch with the company and the latest involvement in the real estate business where people buy houses in various ways provided by the company e.g. monthly installments until completion, hire purchase, cash payment based on the agreement between the buyer and the company. Zhang, Nasir & Haas, (2017) connotes that the company also fosters unity among the people because its real estate initiatives involves putting together between 10-20 houses in a gated community where the members interact freely without limitations. On purchase of a house by a new customer, the company notifies the residents of the gated community that they have a new member an aspect that has made it possible for people to embrace each other. The transparency in the company’s dealings inculcates a sense of accountability and honesty to the customers and all the stakeholders.
Environmentally the company is making relevant impact. This is because deserted areas around the city have been reclaimed; purchased and residential homes have been built in these places. The poorly constructed houses which pose a threat people have been bought demolished and re established based on the legal requirements (Willis, 2012). The company also takes an initiative to plant trees l in any newly acquired land that is bare an aspect that reduces the chances of global warming which is a great threat to all the people. In inaccessible areas where real estate’s are located, the company takes an initiative of making a marram road in a bid to make the area accessible.
Loima Construction Company started as a small organization of young unemployed men under the leadership of Onchego. Since Onchego was a respected person in the locality because of his academic qualifications, he would source for employment in construction sites, negotiate the payments and then from there he would be allowed to supply manual laborers whom he will personally pay in the evenings (You & Wu, 2019). Doing this work he saved some money and the idea of starting an own construction company started. He started the company by befriending a well known contractor who accepted all the give sub contracts. The company managed to survive the hardships and finally stood on its own. The company managed to sub contract huge contracts in which it got enough money to start offices, employ people and attract customers.
From the trust gained from the customers the company has been able to witness tremendous change in its financial status. This financial stability has made it possible for the company to venture into other entrepreneual activities. It is currently making a lot of money from the real estate sector where over 150 houses worth millions of money are sold annually. The recent venture of buying houses, renovating them and renting them out has been another dynamic step to acquisition of uncommon wealth for the company (Bhattacharya, Momaya & Iyer, 2012). The aim of the company in future is having an entire location full of its own houses which are fully occupied by tenants who will continuously pay dues to the company. This aspect tells that the company is still to grow to national and international levels in the future. The company’s transparency has also given it a special place in the lives of many customers an aspect that has seen continued advertisement that saw to over 50 houses being sold to customers who have been introduced by other customers.
Dr. Onchego Loima is a well known person for his explicit appearance in public. All over the locality where the business started, he has gained good reputation first because of his academic excellence that made the locals to respect him so much. He believes in a group success an aspect that has always made him eager to learn and empower others. This is evident by the fact that he sourced for employment in the construction sits not for himself alone but for his unemployed fellows (Paredes & Wheatley, 2018). Being a business oriented person he saved money to start up own enterprise. His honesty has also played a major role in winning customers to his company compared to his counterparts who are at times involved in money scandals.
Loima constructions source of finance is the business side of the company. The company sub contracts the construction work given to them at lower prices so as to gain profit as they work as intermediaries between the client and the builder. The company also sells house from its current real estate business where it acquires a lot of money (Ravanshadnia, Rajaie & Abbasian, 2010). The company has also of late ventured into the landlordism sector where there is cash flow throughout. The importance of this money is that it pays all the company employees, expands the venture into more businesses, enhances continuity of the company’s activities and finally profits the sole proprietor.
Communication is a vital element for the success of any entrepreneur. This is because customers will always intent to get services or commodities at the lowest prices ever. If therefore an entrepreneur isn’t able to communicate effectively then incurring losses will be inevitable. Good communication skills always set things right in an organization (Isik, Arditi, Dikmen & Birgonul, 2010). Negotiation on the other hand helps to ensure the customer is not taken advantage of. Both must work hard in hand so as to ensure none of the stakeholder’s losses money unaware.
Working on my TMA has exposed me to experiences that are related to my area of specialization. For instance I have gained knowledge of growing an entrepreneurship. This is achieved through allowing others to input their strengths and ideas into the business as evident by the way Dr. Onchego surrendered the business side of the company to the management and he remained at the innovation side an aspect that has seen tremendous growth in their firm. Appreciation and enumeration helps to put workers on a standby step and ready to fight for the betterment of the company.
Customer relations are one aspect that brings to an entrepreneurship tremendous success. As evident from Loima construction, the company has been able to make dynamic steps because its customers advertised it. The advertisement has been hard earned by the company because it worked tirelessly to provide top quality services for its customers. Communication is another vital role that has to be practiced by anyone who works in a company. Communication helps to put all things in order because each and every person knows what to do and when to do it and with whom. Room for negotiations should always been allowed so as to minimize losses related to reaching a dead end.
References
Bhattacharya, S., Momaya, K. S., & Iyer, K. C. (2012). Strategic Change for Growth: A Case of Construction Company in India. Global Journal of Flexible Systems Management, 13(4), 195–205. https://doi.org/10.1007/s40171-013-0020-2
Bildsten, L., & Manley, K. (2015). A framework for understanding purchasing in building construction companies. Construction Management & Economics, 33(11/12), 865–879. https://doi.org/10.1080/01446193.2016.1164325
Isik, Z., Arditi, D., Dikmen, I., & Birgonul, M. T. (2010). Impact of Resources and Strategies on Construction Company Performance. Journal of Management in Engineering, 26(1), 9–18. https://doi.org/10.1061/(ASCE)0742-597X(2010)26:1(9)
Le Breton, M., & Aggeri, F. (2018). Counting before acting? The performativity of carbon accounting called into question – Calculation acts and dispositifs in a big French construction company. [email protected]@gement, 21(2), 834–855. https://doi.org/10.3917/mana.212.0834
Paredes, A. A. P., & Wheatley, C. M. (2018). Do Enterprise Resource Planning Systems (ERPs) Constrain Real Earnings Management? Journal of Information Systems, 32(3), 65–89. https://doi.org/10.2308/isys-51760
Pretti, S. M., & Rodrigues Vieira, D. (2016). Implementation of a Bim Solution in a Small Construction Company. Journal of Modern Project Management, 88–95. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=buh&AN=113324154&site=ehost-live
Ravanshadnia, M., Rajaie, H., & Abbasian, H. R. (2010). Hybrid fuzzy MADM project-selection model for diversified construction companies. Canadian Journal of Civil Engineering, 37(8), 1082–1093. https://doi.org/10.1139/L10-048
Schwartzman, R., & Sanchez, R. (2016). Communication Centers as Sites for Identity (Re)Negotiation. College Student Journal, 50(1), 35–46. Retrieved from https://search.ebscohost.com/login.aspx?direct=true&db=s3h&AN=114159642&site=ehost-live
Tamer, Z., Yoon, Y., & Hastak, M. (2012). Protocol for Profitability Analysis Using Internal Entities in Organizational Structure of Construction Companies. Journal of Construction Engineering & Management, 138(12), 1394–1402. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000563
Willis P. K (2012). Antecedents of Organizational Commitment in a Chinese Construction Company. Journal of Business Ethics (Vol. 109, pp. 301–307). https://doi.org/10.1007/s10551-011-1128-y
You, Z., & Wu, C. (2019). A framework for data-driven informatization of the construction company. Advanced Engineering Informatics, 39, 269–277. https://doi.org/10.1016/j.aei.2019.02.002
Zhang, D., Nasir, H., & Haas, C. T. (2017). Development of an internal benchmarking and metrics model for industrial construction enterprises for productivity improvement. Canadian Journal of Civil Engineering, 44(7), 518–529. https://doi.org/10.1139/cjce-2016-0274
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