Strategic Planning

In today’s changing world of construction, it’s not enough to keep pace with the rest of the industry. To stay on top, it’s necessary to lead the industry through innovation, technology, and clear company direction. Staying passionate about the business becomes challenging when a company moves past the euphoria of being new, especially when that company reaches over 90 years of age!

GBI has confronted that challenge head-on by developing its clear direction through strategic, long-range planning.

Less than a year ago, key personnel determined that it was time to re-energize the company and broaden our horizons as we look at the upcoming centennial mark. Through a series of one day workshops, all administrative personnel actively participated in setting goals for the company. As a result, GBI has been able to set new levels of short- and long-term goals.

Goals were established for increasing annual gross profit, reducing receivables aging, reducing reliance on corporate borrowing sources, decreasing frequency and severity of lost-time injuries, completing projects ahead of originally anticipated completion dates, and being the contractor of choice through both employee satisfaction and quality workmanship.

The effort and importance of yearly proformas were firmly established as the vehicle to create the short-term road map for the company. Based on detailed budgets provided by all departments, the proforma allows our financial institution and surety to understand the direction we’re heading and feel confident in our ability to get there.

Integral to the proforma and financial statements is the need for accurate project forecasting. Not only has this allowed management to monitor the company’s performance against our proforma, but it assists owners in establishing estimated contract value, which is especially critical when the owner is faced with fixed sources of funds for the project.

Not only were these strategic planning sessions a roadmap for the GBI’s future, it also allowed the administrative personnel to play an active role in the company’s goals and ultimate destination. Everyone from our administrative staff, the finance file clerk to the project manager to the president of the company, was involved in the partnering sessions, which provided a forum for interaction and input from everyone. Participating excited the staff, boosted morale, and gave them a stake in the decision making. Strategic planning through the partnering process has been an excellent technique for involving GBI’s valuable staff and designing the strategy for the future.