HITT Contracting Incorporation
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About HITT Contracting Inc.
Founded in 1937, HITT Contracting is among the leading general contractors in the South Florida market with offices in Atlanta, Washington DC, Houston, Dallas, New York, Santa Clara, Fort Lauderdale, and Charleston. HITT Contracting specializes in law firms, corporate interiors, hospitality, financial institutions, healthcare construction and government construction projects in various regions, including West Palm Beach, Fort Lauderdale, and greater Miami. Regarding ownership, Russell Hitt’s son and son-in-law, Brett Hitt and Jim Millar respectively, are co-chairs of the company’s Board. The two share ownership responsibilities. Initially, HITT Contracting was founded by Myrtle Hitt and Warren Hitt in 1937. Until his death in September 2020, their son Russell A. Hitt served as the company’s chairman emeritus. Together, fathers and sons of the Hitt family have led the organization’s growth into among the top 25 general contractors in the United States. The company maintains a workforce of over 1,000 team members and continues to bring on board self-driven candidates to join the team and contribute to its ongoing success. In furtherance of the company’s mission, the company uphold various core values, including working hard, staying humble, elevating the business of building, being good, taking the high road, attention to detail, and delivering with passion. This text provides an analysis for HITT, including competitive analysis, company analysis, product analysis, customer analysis, and market analysis. The text further delves into how HITT’s services can be developed in markets in developing and developed countries and discusses the future of marketing.
Competitive Analysis
HITT Contracting’s primary competitors are Turner Company, EllisDon and Clark Construction, PCL construction, Ellisdon, Shimmick Construction, Novo Construction, McCarthy. AECOM, LERNER, and Hensel Phelps. The company which has its headquarters in Falls Church, Virginia has revenue of 2.4 billion dollars, with its main business being provision of commercial real estate services for corporate education, hospitality, office, government, and healthcare sectors. HITT Contracting’s main source of competition has to be Clark Construction whose president and CEO has a CEO rating of 91/100 compared to HITT Contracting’s CEO rating of 74/100. Clark Construction has a competitive edge in the sense that its revenue and employees are higher than HITT Contracting’s. Clark generates revenue of 5 billion dollars and employs over 4,200 employees compared to 2.4 billion dollar revenue and a workforce of about 1,000 employees. Turner Company is also proving to be a source of competition generating a revenue of 14.4 billion dollars and over 10, 000 employees. Turner’s CEO rating stands at 74/100 which is the same as HITT Contracting’s. Additionally, EllisDon is a source of competition producing a revenue of $4.4 billion, a CEO rating of 81/100 and employing about 5,000 individuals. PCL Construction is another notable source of competition for HITT Contracting. PCL has an employee workforce of 4500 individual and an annual revenue of $6.3 billion. Worth noting, Dave Filipchuk, the company’s President and CEO has a CEO rating of 76/100 compared to HITT Contracting’s CEO rating of 74/100. Other potential competitors include Donhoe Companies Inc., Keller North America Inc., and James G. Davis Construction Corporation, with 1,400, 2, 400 and 584 employees respectively.
Company Analysis
Doing business as Hitt Contracting Inc., the company has hit the nail on the head in matters general contracting. The corporation provides construction services for corporate building and interiors in nearly all sectors ranging from technology to healthcare. HITT Contracting handles historical renovations to eco-friendly projects. HITT Contracting conducts business in various industries including the construction of buildings construction, non-residential building construction, renovation and repair, commercial and office buildings, and commercial and institutional buildings. According to Improvements-Institutional, 2018 data center HITT Contracting also operates in industries in construction such as land subdivision, building equipment contractors, residential building construction, street and bridge construction and utility building construction. HITT Contracting Environmental Social Governance (ESG) ranking is 1.0 with an ESG industry average of 2.68. The company has an average annual revenue of 1.22 billion US dollars. Hitt Contracting is the ultimate parent company with one subsidiary and 11 branches. HITT Contracting is mostly classified as a company with operations in Nonresidential Building Construction industries. Some of the strengths that come with being an employee of HITT Contracting Inc. are outstanding management and leadership, room for personal development and a conducive work environment. Additionally, the company provides good work pay and employee benefits and supportive team members. On the other hand, some of the perks of working at the company include young and inexperienced personnel in preconstruction, high levels and stress and lean corporate resources.
Product Analysis
HITT Contracting Inc. works with construction professionals to provide clients with a variety of services that range from service and emergency work to base building construction and renovation and corporate interior fit-outs. With HITT Contracting Inc., it is more than construction; it is shaping possibilities, building dreams, and defining spaces that surround us.
With an experience of over eight decades in service provision that goes beyond the client expectations, HITT Contracting has a portfolio of award-winning constructions particularly for commercial build environments. They deliver projects that are redefining commercial real estate in America and beyond from office spaces and mixed-use industrial campuses of the future.
The Company has notable projects including Intelsat, that features a six-level monumental stair and multipurpose room with 28 ceilings that can fit up to 330 individuals. Another notable product is located at the Radio Oncology Center at George Washington University Hospital. It is an occupied renovation that entails a CT scanner and two linear accelerators. The Verizon NAP of Capital region also features five independent data centers featuring 187 million dollars and a 508 unit 21-story and 19-story tower worth up to 150 million dollars.
Customer Analysis
As regards customers, HITT Contracting Inc. provides services to customers that are in need of services ranging from renovation to build base construction to emergency services, and interior fit-outs. They provide services to clients in the corporate arena as well as public business. HITT Contracting Inc. values their customer experience which is why they employ client-centered strategies to ensure customer satisfaction. In 2019, HITT Contracting Inc. set aggressive goals with the aim of genuinely embracing the customer experience. A year later, they chose customer experience pilots to help take the management program to the next level. The program approach had four phases. They audited the existing feedback from partners and clients to determine the feedback loopholes and generate insights for improvement. They further facilitated the first wave of journey maps and outcome-oriented client personas. They further carried out an analysis of the corporate training program and make recommendations to inject client experience into the programming. They further revised the organizations approach to brand and purpose to ensure it aligns with the renewed commitment and client experience. Some of the solutions that were implemented as a result of the program were utilizing technology for client feedback, evaluating partner and client feedback collection, and redefining survey questions. As a result, various changes were realized. There was a deeper team and leadership engagement, increased visibility for the firm, and more knowledge of the client’s expectations and sentiments. Additionally, HITT Contracting Inc. saw better brand and purpose alignment, increased knowledge about client sentiment and expectations, better understanding of client feedback system, and corporate brand architecture. In essence, the client expectation program helped HITT Contracting Inc. to deliver robust journey maps into driving a customer-centric culture and innovative customer experience.
Market Analysis
As far as the market goes, HITT Contracting Inc boasts of clients in matters construction from across the world. HITT Contracting Inc. entered the Houston Market in 2016, making the company’s latest acquisition of trademark. They announced the taking over of a Houston-based Trademark contractor that had an experience of over 30 years. The chairperson, Bret Hitt, noted the company’s excitement to welcome the contractor on board. The purpose of the collaboration was to create a bigger impact on their clients within Texas and beyond. The acquisition of the trademark allowed HITT Contracting to expand their ability to cater to clients in key sectors such as technology, healthcare, commercial base building construction, and corporate interiors. They move was 55 new office employees operate with the organization’s trademark. To further expand its operations, HITT recruited additional construction talents. Worth noting, the synergy between the teams allowed both organizations to view the acquisition as national experience to push them into getting to the next project in size, volume, and scope. Across the United States, HITT Contracting is ranked the leading commercial construction company in the field with its annual revenue amounting to 1 billion dollars. Worth noting, HITT Contracting is ranked by ENR as among the 100 largest general contractors. HITT Contracting continues to maintain its regional offices in South Florida, Atlanta, Charleston, Denver, and satellite offices in Dallas, Baltimore, Seattle, and Richmond. HITT Contracting maintains client-oriented team that meets the need of all programs that require changing the building shells and complete owner fit-outs. Worth noting the company has a wide range of employees including trained and skilled in-house, to provide round-the-clock support to clients following initial occupancy. The company’s way of maintaining excellence and quality speaks to its core mission and its structure. HITT Contracting Inc. teams are often organized into expert market sectors that have a specialty in various aspects, including technology, paint and service, law firms, industrial services, hospitality, healthcare services, government, and building and interiors. Additionally, there are other divisions that complement the market sector teams, including preconstruction, subcontractor relationships, and sustainable construction.
Product Expansion in Markets in Developing and Developed Countries
For HITT Contracting Inc. to expand its construction services to developing and developed countries, it will need to employ a variety of tactics, including collaboration and building from the ground up. According to the hitt.com website, For HITT Contracting to be the renowned construction guru, it has had to collaborate with other contractors. Collaborations are particularly viable for developed countries such as other states where it has not yet established subsidiaries and other countries such as Canada, and across Europe. HITT Contracting has more chances of success when it works with subcontractors as it places them in a position to reach a greater clientele. Without a doubt, new building technologies, approaches, and materials have the potential to completely change the future of construction. Compared to developing countries, developed ones are quick to accept innovation. HITT Contracting remains committed to the ever-changing construction industry. Innovation in the construction sector derives sustainability and well-being and learning and solutions for all stakeholders and partners. As regards underdeveloped countries, HITT Contracting Inc., should start with building sustainability from the ground up. Using built strategies such as mass-timber construction ensures that structural wood remains connected with fasteners. This would make the building not only sustainable but also safe. It would still remain as strong as concrete or steel. Worth noting, mass-timber constructions are not only easy to bring down, but they can also be reused when no longer in use. Recycled finishes and materials can be used throughout the solar panels and entire building to ensure the facility accesses all the energy it needs. With such solar panels, it is possible to input charging stations for visitors.
The Future of Marketing
The changing face of marketing can be best described using the changing marketing channels and the growing consumer dominance. Old school marketing only employed traditional channels of marketing such as broadcasting and print media. However, we are living in a digital age where new school marketers continue to employ traditional methods but combine them with digital technologies bringing deeper and improved customer experience. It is important to care about consumer behavior it speaks to the customer experience. Today client needs have taken center-stage. As creators come up with new products and services they are keeping the needs and wants of their customers at the back of their mind. This shows that, without a doubt, customers have dominated the marketing field. There is need to anticipate future customers as they are bound to be even more essential as end-users of nearly all company products are changing in location, number and makeup at an ever rising rate. Worth noting, there has also been a significant rise in the market for personalized services with consumer services now accounting for 40-50% of consumer purchases. Additionally, customers’ tastes are also becoming more flexible, varied, and demanding. For instance, the rising demand for wood products; the traditional manufacturer today sells a variety of products that never existed years ago, but due to collaborative marketing and product-based research, they are able to get products that meet the market demand.
References
Improvements-Institutional, C., & Improvements-Non-Institutional, C. (2018). Datacenter.
Hitt.com
