Answer and complete steps 9 & 10 based in this company below after reading the steps from 1 to 8

Step 1: Introduction of the Organization

Founding and History: ContractPro was founded in 2005 by John Smith. Mr. Smith's decision to start the company stemmed from his extensive experience in the construction industry and a desire to provide high-quality contracting services. His vision was to create a contracting firm that not only delivered exceptional craftsmanship but also prioritized client satisfaction.

Ownership: ContractPro is a privately held company. This means that it is not publicly traded on any stock exchange. The ownership and control of the company remain within the hands of its founder, John Smith, and potentially other private investors or partners.

Mission Statement: ContractPro's mission has evolved since its inception. Originally, it focused on delivering top-notch construction services. However, as environmental concerns and sustainability became more important, the company adjusted its mission to incorporate eco-friendly practices. The core values of excellence, reliability, and client satisfaction have remained consistent throughout these changes.

Step 2: Identification of the Industry, the Life-Cycle, and the Competitors

Industry Definition: ContractPro operates in the construction and contracting industry. This industry encompasses various activities, including:

Explanation:

Residential Construction: Building and renovating homes.

Commercial Construction: Constructing commercial buildings like offices, retail spaces, and warehouses.

Renovation Services: Remodeling and renovating existing properties.

Maintenance Services: Providing ongoing maintenance and repairs for properties.

Industry Life-Cycle: The construction and contracting industry is in the maturity stage of its life cycle. Here's a more detailed explanation:

Explanation:

Growth Phase: In the early years, ContractPro experienced rapid growth as it established its reputation and client base.

Maturity Phase: Currently, the industry is in a mature phase. This stage is characterized by steady but slower growth, intense competition, and a focus on cost efficiency and customer satisfaction. There is a high level of competition, with several well-established firms vying for contracts.

Decline Phase: The decline phase, characterized by a decline in demand, is not yet applicable to ContractPro's situation.

Competitors: ContractPro faces competition from several key competitors in its region:

Explanation:

BuildRite Construction: BuildRite is a reputable construction company known for taking on large-scale commercial projects. They have a strong track record in completing projects on time and within budget.

RenovaHomes: RenovaHomes specializes in residential renovations. They have a reputation for innovative designs and a keen focus on craftsmanship, attracting clients seeking high-end residential improvements.

GreenBuilders: GreenBuilders differentiates itself by emphasizing sustainable and eco-friendly construction practices. They target environmentally conscious clients who prioritize green building techniques and materials.

Understanding the industry life-cycle and identifying competitors is critical for ContractPro to formulate effective strategies for ongoing success. In the mature stage, differentiation through quality, cost control, and customer satisfaction becomes crucial. Additionally, ContractPro must adapt to industry trends, such as sustainability, to meet chStep 3: Potential Profitability of the Industry

Porters Five Forces Analysis for the Construction and Contracting Industry:

Explanation:

1. Threat of New Entrants: Low to Moderate
   • Barriers to Entry: Moderate due to capital requirements, regulatory approvals, and established competitors.
   • Effect on Profitability: Positive as fewer new entrants lead to reduced competition and better profit margins.
2. Rivalry Among Existing Competitors: High
   • Intense competition among established firms.
   • Price wars and cost control are common.
   • Effect on Profitability: Negative due to price pressure and reduced profitability.
3. Bargaining Power of Buyers: Moderate
   • Buyers have options to choose from different contractors.
   • Effect on Profitability: Neutral as buyers' power may influence pricing but not significantly.
4. Bargaining Power of Suppliers: Low to Moderate
   • Suppliers of construction materials and equipment may have some bargaining power.
   • Effect on Profitability: Neutral as supplier influence on profitability is moderate.
5. Threat of Substitute Products: Low
   • Limited substitutes for construction and contracting services.
   • Effect on Profitability: Positive as limited substitutes reduce the risk of losing customers.

Overall Potential Profitability Assessment: The potential profitability of the construction and contracting industry is moderate. The intense rivalry among competitors and the need for cost control impact profitability. However, the barriers to entry and limited substitutes contribute to maintaining a certain level of profitability.

anging customer expectations and remain competitive in the market.

Step 4: Industry Examples of Success and Failure

Success: BuildRite Construction, RenovaHomes, GreenBuilders

Explanation:

• BuildRites focus on large-scale commercial projects and on-time delivery has led to its success.
• RenovaHomes' innovative designs and craftsmanship attract high-end residential clients.
• GreenBuilders' sustainability emphasis resonates with environmentally conscious customers.

Failure: Unsuccessful firms with inadequate cost control and service consistency.

• These firms struggle to compete and maintain profitability.
• Lack of differentiation and inability to adapt to changing industry trends lead to failure.

Critical Success Factors (CSFs):

• Consistency and speed of service for fast-food industry success.
• Innovation and craftsmanship for high-end residential renovations.
• Sustainability focus and eco-friendly practices for attracting environmentally conscious clients.

Step 5: Political/Legal Forces Affecting the Industry

Explanation:

1. Legislation: Building codes, safety regulations, and environmental standards impact construction practices.
2. Court Judgments: Legal disputes can affect project timelines and costs.
3. Environmental Regulations: Sustainability requirements influence materials and practices.
4. Tax Laws: Tax incentives for green construction impact profitability.
5. Labor Laws: Employment regulations impact hiring and workforce management.
6. International Trade Regulations: Import/export regulations affect sourcing of materials.

These political/legal forces influence the industry's operations, compliance costs, and long-term sustainability.

tep 6: Economic Forces Affecting the Industry

Explanation:

1. GDP Growth: Economic growth drives construction demand for new projects.
2. Interest Rates: Low rates encourage borrowing for construction projects.
3. Energy Costs: Fluctuations impact construction material prices and overall costs.
4. Inflation: Rising costs of materials and labor affect project budgets.
5. Unemployment Rate: Affect availability of skilled labor in the industry.

Economic forces impact the demand for construction and contracting services and the cost structure of projects.

tep 7: Social Forces Affecting the Industry

Explanation:

1. Sustainability Trends: Growing demand for eco-friendly and green building practices.
2. Demographic Changes: Aging population influences demand for healthcare facilities.
3. Lifestyle Preferences: Demand for urban living and mixed-use developments.
4. Work-Life Balance: Impact on residential and office space requirements.

Social forces shape customer preferences and influence project types and designs.

Step 8: Technological Forces Affecting the Industry

Explanation:

1. Internet and Digital Tools: Online project management and communication tools improve efficiency.
2. Automation: Advances in robotics impact construction processes.
3. Building Information Modeling (BIM): Enhances design accuracy and project planning.
4. Smart Construction Technologies: IoT-enabled devices for monitoring and maintenance.

Technological forces drive efficiency improvements and innovation in construction practices

Case Analysis 6-1 Step 9: What Is the Current Firm-Level Strategy? What is the corporate profile? Is the organization at- the company could do. Extensive support is required. tempting to grow, maintain its present size (i.e., sta- Public references to growth in one area do not necesbility), or retrench? Increasing revenue at a level sarily mean that a firm is pursuing a growth strategy consistent with inflation does not constitute growth. overall. Most firms claim to seek growth, but it is imporThe focus here is on the current strategy, not what tant to examine the evidence closely. Step 10: What Is the Current Business-Level Strategy? The generic strategies for each business unit (if there is more than one) should be identified. Both strategy typologies (e.g., Porter, and Miles and Snow) should be applied, but additional support should also be provided. Each business employs a unique strategy based on its combination of resources. It is also essential to discuss how the competitive strategy differs from those of rivals that might share the same generic strategy. What makes the organization unique? Identifying the generic approach is not enough. The notion of business-level strategy cannot be understood independent of industry definition because a business strategy is expressed in terms relative to rivals. For example, the competitive strategy for retailing giant Walmart might be considered that of differentiation or low-cost-differentiation if the industry is defined "discount retail." In contrast, it might be regarded as low-cost if the industry is defined more broadly as "department stores." Likewise, McDonald's strategy might be described as a combination approach when compared to other fast-food restaurants. If McDonald's is viewed as part of the broader restaurant industry, a low-cost strategy is a more accurate depiction. Aspecific generic strategy may be common in an industry because of structural characteristics or demand patterns. For example, because the computer software industry tends to reward innovation, most competitors might be categorized as prospectors. However, it would be incorrect to classify all rivals as prospectors without a detailed assessment