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Business

Scenario

Established by Joe Smith in 1951 to develop concrete products for residential and commercial construction, SMITHCONSTRUCTION has always been recognized as a fast-growing and innovative company with a specialization in building multi-level parking facilities, apartments and hotels. Due to the unique process employed in creating and transporting precast concrete, SMITHCONSTRUCTION’s market is somewhat limited (200-mile radius from site). There is a desire to diversify through entry into a different geographic market, specifically either Houston, Miami or Washington D.C.   There are factors impacting a decision on what market to enter including new commercial construction, unemployment rate, ease of permitting, labor (union?), design talent, traffic infrastructure and more. SMITHCONSTRUCTION is looking for an analysis and a recommendation.

Prof Robinson's Example: Houston

Your Example (Group Work): Miami

Today We Are Using...

Group Work (Zoom Breakout Rooms)

  1. Open IBISWorld.
    1. Find the report on apartment construction.
    2. Find out industry revenue and profit.
    3. Find percentage of relevant companies in Miami-Dade County.
    4. Find major players in industry.
    5. Goal: Understand the industry in general, including players and local information.
  2. Open Statista
    1. Search for IBISWorld major players in search bar. What is in here that's not in IBISWorld? Identify construction trends for multifamily homes in Miami and/or Florida. Focus on Miami, but zoom out to Florida if needed.
      1. Hint: try "condo" and "condominium," and see what happens.
    2. Assess broader residential trends in Miami (and Florida, if needed). Who are some possible markets for SMITHCONSTRUCTION?
    3. Goal: Understand the broader business climate for SMITHCONSTRUCTION in Miami.
  3. Open Access World News
    1. Go to the "More Search Options" screen.
    2. Used "2023" as the Date and "Miami Herald" as the Source.
    3. Search for trends in housing construction in Miami.
      1. Hint: Use terms like "multifamily," "multi-family," "residential" "condo(minium)" "townhome/house," etc.
    4. Goal: Understand what's going on locally, not just statistical snapshots.
  4. Groups will then each provide executive summaries of findings and trends.

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