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Webinar Topic: Profitability Management of Construction Company
Date: Saturday, 09 July at 9.30AM
Speaker: Dr. Chotchai Charoenngam - Faculty of Asian Institute of Technology in Thailand
Construction companies are in business to do two things: build things and make a profit. So why do so many excel at the first thing but struggle to be profitable?
Stiff competition and fewer opportunities during the last recession led many companies to lower bids to be competitive, surviving on razor-thin margins to maintain enough work to stay in business. Now that the economy and construction industry has recovered, labor shortages are forcing some contractors to offer higher wages to recruit and retain experienced workers.
The cost of building materials had been steadily increasing even before factoring in the effects of trade negotiations and tariffs. All of these can eat into a company’s profit margin, but for the most part, are outside of a company’s control.
So how do construction companies manage their Profitability?
Dr. Chotchai Charoenggam, the expert has more than 15 years in both the teaching and construction industry. He is faculty of the MPM Program and the Asian Institute of Technology in Thailand. In addition, he is also Chairman of the Railway Technology Research and Development Institute.
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