country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Analyse An Australian Entrepreneur Summit Homes Group

tag 0 Download7 Pages / 1,738 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Analyse an Australian Entrepreneur Summit Homes Group.
 
 

Answer:

Summit Homes Group

The summit homes group based in Perth has been rated as one of the best places to work in Australia by different magazines for a number of years. The company has close to 40 years of experience in the home building sector and employs more than 200 staff. The longevity of the firm and continued success in a competitive industry marks it out for a closer scrutiny to learn the secrets of its success.

Summit Homes Background

The history of Summit Homes can be traced to the founder, John Simpson who is reclusive by nature, with little information known about him. Simpson started out in the construction industry from his early days as a valuer working for the Agricultural Bank in Tasmania in the 1960’s. (AFR, 2014).This was the foundation for a life-long interest in the home building industry. Partnering with the National Westminster Bank in the mid-sixties, his first project was a 1740-hectare development in Rockingham. An anonymous building partner joined him the early 1980’s to form Summit Homes. This partner was bought out bought out in the 1990’s together with the bank, leaving the full ownership to Simpson.

Summit Homes group is a wholly owned by the Simpson’s family with his son David running it as the managing director. (About us, 2016). Some of the milestones in its history include:

  1. 1979- Became member of the Housing Industry Association.
  2. 1986 -Officially opens its Headquarters at 242 Leach Highway.
  3. 1989- A unit, Prime plumbing is launched and begins to operate within the group.
  4. 1994- Became a member of the Master Builders Association.
  5. 2004-Crest roofing begins supplying Colorbond and Zincalume roof sheeting for all brands in the group.
  6. 2007- Backbone Steel is acquired and starts operations within the group.
  7. 2007-Easy start homes is launched to cater for first time home buyers market segment.
  8. 2009-Strata Living is launched to cater for the strata segment.
  9. 2011- West Gate Financial services is launched to offer the brokering of mortgage services.

Organizational Characteristics

Summit homes group operates with several subsidiaries under the umbrella group, with each subsidiary specializing in a particular segment of the home builders market. Capitalizing on the economies of scale available through in-house units to provide services within the group is at the core of its operations.( Hayek & Klausinger, 2012). Fragmenting the group into divisions, each run competently and independently has contributed to the development of key competencies within each division.

The organizational culture is founded on the view that all the staff take each potential home as their own. The staff is motivated with a program that includes birthday celebration, paid training and bi-monthly social event.( Price, 2014). A third of the women working at Summit Homes are in the leadership cadres. The group employs staff who are passionate about houses and who can channel this passion into customer delivery. Each subsidiary is run with a latitude of independence but within the wider scope of the group, to achieve the overall organizational success of the group. his can be seen in the different subsidiary units each being nominated for awards of excellence individually and as a group.

 

The opportunity recognition and idea development

The founder of Summit Homes as a founding visionary saw the potential of the growth that would come in the home building market and positioned Summit Homes accordingly.( Herrick, 2012). With foresight, he started to invest in land, as a future opportunity for development and also for speculation. In 2008 he purchased a 200-hectare farm for $14.5 million, on the outskirts of Melbourne. When the government announced the proposal to build a $340 million freight terminal on the site later in the course of the year, Simpson stood to make a good return on his investment. As of 2014, Summit Homes had 2000-lot land bank, in addition to 10,000 houses constructed on more than 1800 hectares of land.

 The group is renowned for being innovative in its product offerings, offering unique products for different customers.(Department of Commerce, 2014). There is a unique offering for first time buyers, for those renovating as well as for developers. The years of market experience has been instrumental in recognizing gaps in the delivery of products, and the innovation of new products to fill those gaps. The first-time home buyers is spoilt for choice with a bewildering array of offers from which to chose from, leading many of them to make bad choices in their first home.( HIFG,2016). Easy start homes is tailored for the first time buyer navigating the uncharted waters of the property market and the confusion it can bring.( Landgate, 2016). First time buyers are given professional advice on the best product for them, as well as a $15,000 cash back offer.

Summit Development Corporation is tasked with developing both large and small scale developments for small and large investors. The Combined Property Settlement Agency is involved in conveyance and preparing of settlement contracts, within the group and also for external customers. Strata living is exclusively concerned with developing strata plots for the client. This was the opportunity recognition of the need to craft a unique product for clients wishing to develop plots with rear strata. To ensure quality standards in the material used, the group has invested in acquiring units to provide materials such as steel fabrication, ceiling products amongst others.

Business Developed and Competitive Advantages.

Summit Homes has taken a strategic decision to focus its operations in Western Australia and has further divided the market segment into the North and South.( ABS. 2016). Summit Homes North West and South West are involved in the distinct areas with peculiar and unique geography that calls for unique product offers for each area. The realization that the difference in the terrain requires a unique approach to each area has helped in adopting a new strategy within the group. The research and development division has crafted product offerings in line with the topography of the north and the south.

The CSR approach of Summit Homes has endeared the group to new and existing clients. Partnering with Channel 9, Summit homes intervenes to give a deserving family of WA a home make over a new beginning in life. Matt and Kim to the rescue is a premier program supported by Summit Homes as part of its CSR to give back to the community. ( Matt and Kim, 2015).This gives it an advantage over its competitors due to the positive image it derives from this program. The program is quite emotional and forms a bond on the human level and shows the humane side of the business group.

The other advantage of Summit Homes is the turn key turn-around time of its projects. ( Kaufman & Panni, 2014).The customer is guaranteed that the product will be delivered on time. The use of its sub-divisions such Backbone steel and peak ceilings means that there will be no delays in delivery, as opposed to using external suppliers. Having its own factories that tailor specific products such as trusses and panels, has resulted in a “from factory to site” philosophy which other builders may not be able to achieve. The consistency of the quality of products is also maintained by using its internal divisions which work in synergy for the overall delivery of the group.

Future Prospects

The future still looks relatively optimistic for Summit Homes in the next few years as the economy is still performing strongly. The strong economy of WA is a factor to consider in projecting the performance of the group. Potential home buyers can only buy when they are economically secure and founded on a strong state economy.

The point of market saturation of homes has not yet been reached and there is still a net shortfall in the supply of houses in WA.( Wikie, 2015). A new strategy would be required to diversify its operations to other states in anticipation of the saturation equilibrium that will be reached in the not so distant future. Currently confined to WA, launching into other states will widen its market reach and open new markets for its products. The entry into the new markets should be undertaken maximizing its key competencies in each new state drawing on its 40 years of experience.

Another key consideration would be to go public and list on the stock exchange. Selling shares to the public would result in new streams of capital being unlocked for its projects, well as reducing the liability associated with being a totally private entity.( Herold, 2014). New investors will bring on board a fresh injection of ideas, direction and capital.

In conclusion, Summit Homes Group has shown resilience in its operations over a period of 40 years. The historical background laid a strong foundation for its future organizational success and was instrumental in shaping its characteristic. The process of opportunity recognition led to the diversification at the group, division development and the resultant advantages that came with it. The future looks optimistic if the current macro indicators of WA remain stable. Changing the shareholding within the group would be advisable for the long-term success of the group in the industry.

 

References

About us. (2017) Summit Homes Group. Retrieved from Summit Homes Online https://www.summithomesgroup.com.au.about-us. Accessed April 4.2017

BRW Rich 200 List 2014:107, John Simpson. (2014). AFR. Retrieved from https://www.afr.com

Buiding Activity Australia (2016). Australia Bureau of Statistics. Retrieved from https://www.abs.gov.au Accessed April4.2017.

Construction Industry Statistics. (2014) Department of Commerce. Retrieved from https://www.commerce.go.au Accessed April 4.2017.

First Home Buyers Holding up Housing construction Activity. (2016).Housing Industry Forecasting Group. Retrieved from https://www.planning.gov.au

Herold, T. (2014). Financial terms dictionary: Terminology plain and simple explained. Fairfax, VA: Self-published.

In Kaufmann, H. R., & In Panni, M. F. A. K. (2014). Handbook of research on consumerism in business and marketing: Concepts and practices. Hershey, PA: Business Science Reference.

Matt and Kim to the Rescue. (2016). Matt and Kim Town. Retrieved from https://www.mattandkim.com Accessed April 4.2017.

Price, J. (2015).Summit Home Work Environment. WA Today. Retrieved from https://www.watoday.com.au.

Property Statistics. (2014). Landgate. Retrieved from https://wwwO.landgate.wa.go.au

Wikie, Dan. (2015).Builders incentivized to meet market. Business News WA. Retrieved from https://www.businessnews.com.au Accessed April 4.2017.

Hayek, F. A., & Klausinger, H. (2012). Business cycles. Chicago: University of Chicago Press.

Herrick, D. F. (2012). Media management in the age of giants: Business dynamics of journalism. Albuquerque: University of New Mexico Press.

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Analyse An Australian Entrepreneur Summit Homes Group. Retrieved from https://myassignmenthelp.com/free-samples/analyse-an-australian-entrepreneur-summit-homes-group.

"Analyse An Australian Entrepreneur Summit Homes Group." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/analyse-an-australian-entrepreneur-summit-homes-group.

My Assignment Help (2018) Analyse An Australian Entrepreneur Summit Homes Group [Online]. Available from: https://myassignmenthelp.com/free-samples/analyse-an-australian-entrepreneur-summit-homes-group
[Accessed 10 July 2020].

My Assignment Help. 'Analyse An Australian Entrepreneur Summit Homes Group' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/analyse-an-australian-entrepreneur-summit-homes-group> accessed 10 July 2020.

My Assignment Help. Analyse An Australian Entrepreneur Summit Homes Group [Internet]. My Assignment Help. 2018 [cited 10 July 2020]. Available from: https://myassignmenthelp.com/free-samples/analyse-an-australian-entrepreneur-summit-homes-group.


With time, MyAssignmenthelp.com has become one of the best college essay writing services. Our all rounded services give students the confidence to overcome assignment related issues. Our services are fast enough to meet most urgent deadlines. We are capable of delivering fast essay writing services with the help of our specially designed provisions and writers' teams. Our urgent essay help services guarantee most rapid delivery of assignment solutions. Some of our most popular essay services are application essay help, exploratory essay help, literary review essay help and argumentative essay help.

Latest Management Samples

DMKT5008 Digital Marketing Spring

Download : 0 | Pages : 21

Answer: Introduction The whole study is focussed on the importance of digital marketing in nowadays. The importance is being felt by one of the renowned names in the entertainment industry. It is about HMV which is headquartered in the UK. The company had remained a popular name in the entertainment industry until the time; the position was actually being hampered by Amazon in around 2012. Amazon had enabled people getting their favourite mus...

Read More arrow

IHRM4032 Introduction To Human Resource Management Spring 2018

Download : 0 | Pages : 12

Answer: Introduction Management of human resources of an organization is pivotal to the success of the organization. Human resource management team plays a wide variety of roles in the business starting from recruiting competent employees, ensuring the employees are fairly compensated, putting efforts in retaining employees, managing organizational talent and addressing employee grievances (Jackson, Schuler & Jiang, 2014). The case in the...

Read More arrow Tags: Australia Marlborough Management University of New South Wales Humanities 

FELM4026 Financial And Economic Literacy For Managers11

Download : 0 | Pages : 20

Answer: Introduction: The financial and economic literacy report has been prepared to analyze and evaluate the numerous concepts about the economical concept, micro factors, macro factors etc. the report explains about the changes and the performance of UK economical position. For preparing the report, local high street market of UK has been evaluated and it has been identified that how the corporate could growth itself. Further, the study ha...

Read More arrow

FELM4026 Financial And Economic Literacy For Managers11

Download : 0 | Pages : 20

Answer: Introduction: The financial and economic literacy report has been prepared to analyze and evaluate the numerous concepts about the economical concept, micro factors, macro factors etc. the report explains about the changes and the performance of UK economical position. For preparing the report, local high street market of UK has been evaluated and it has been identified that how the corporate could growth itself. Further, the study ha...

Read More arrow

DMKT5008 Digital Marketing Spring 2018

Download : 0 | Pages : 21

Answer: Study background:   The whole study is focussed on the importance of digital marketing in nowadays. The importance is being felt by one of the renowned names in the entertainment industry. It is about HMV which is headquartered in the UK. The company had remained a popular name in the entertainment industry until the time; the position was actually being hampered by Amazon in around 2012. Amazon had enabled people getting th...

Read More arrow
Next
watch

Save Time & improve Grade

Just share Requriment and get customize Solution.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,359,015

Orders

4.9/5

Overall Rating

5,081

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

184 Order Completed

96% Response Time

Arapera Billing

Masters in Management, MMgt

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

285 Order Completed

99% Response Time

Eugene Baranowski

MBA in Supply Chain

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2830 Order Completed

97% Response Time

Leroy Bicknell

MBA in Marketing

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2109 Order Completed

99% Response Time

Emma Zhong

Ph.D in Project Management with Specialization in Project Communications Management

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

he service is really good , and i got the good writer as well because it seems reliable. However, the price is so expensive than others

flag

User Id: 458240 - 10 Jul 2020

Australia

student rating student rating student rating student rating student rating

whenever i order essay they usually do a great job im really happy with the service provided

flag

User Id: 343054 - 10 Jul 2020

Australia

student rating student rating student rating student rating student rating

i got a really good grade on this essay it was perfect just what i needed im really happy with the work

flag

User Id: 343054 - 10 Jul 2020

Australia

student rating student rating student rating student rating student rating

thank you for the assignment work. I got a high B for the final grade. Excellent work

flag

User Id: 447983 - 10 Jul 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?