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A construction company owner generally focuses on growing the business by overseeing functions such as enhancing field productivity and meeting with potential clients. He or she helps in developing an effective organizational structure and often plays a role in hiring senior administrative and managerial employees who can work toward meeting the firm’s goals and objectives. If you are running your own construction company, you must ensure the firm obtains necessary federal and state permits to conduct its business.
Given that a construction project can’t proceed without sufficient financial capital, the company owner must obtain funds from external sources such as banks, corporate investors and insurance companies. For example, if your company has secured a contract to build a public facility, it’s your duty to ensure there are enough funds to complete the project within the set time frame. If you need extra funding from a bank, for instance, you must provide any collateral that might be needed for approval of the loan. You also must ensure the company has enough workers to complete the project in a timely manner.
Like any entrepreneur, a construction company owner has interests in ensuring the firm hires competent top level managers to run the firm efficiently. To achieve this, company owners use their leadership skills to develop an organizational structure that provides for effective management of the company. For example, if you run a company specializing in construction of roads, the organizational structure can provide for positions such as highway engineers, structural engineers, quantity surveyors, operations manager and human resources officials. With these staff members, achieving company goals and objectives is achievable.
It is the responsibility of a construction company owner to secure necessary permits required for building specific projects. If your company is constructing a telecommunication tower for a telephone service provider, for instance, you must obtain permits from the Federal Communication Commission and local agencies. This is in compliance with the telecommunications act of 1996, which promotes a suitable environment for telecommunication providers to offer improved services to consumers and protect the safety of local residents.
A construction company owner inspects construction projects to evaluate progress and determine whether government safety regulations are being complied with. If there are issues of noncompliance, the United States Department of Housing and Urban Development requires all construction company owners and managers to resolve complaints as quickly as possible. For example, if your company is building houses in a residential area and you detect that some construction activities are polluting the environment, you can ask the quality assurance manager to address the problem or halt the project until you contain the pollutants.
- Carnegie Mellon University: Financing of Constructed Facilities
- Forbes: The 7 C's: How to Find and Hire Great Employees
- University of California Berkeley: Communications Tower Sittings: The Telecommunications Act of 1996 and the Battle for Community Control
- U.S. Department of Housing and Urban Development: Resident Rights and Responsibilities
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