Modeling of Business Processes During the Restructuring of a Construction Company

Abstract

This paper examines the stages of modeling business processes in the reorganization of a construction company due to which its competitiveness in the construction market is increased. Restructuring is a change in the structure, scope and types of enterprise activity in order to ensure the effective formation, distribution and use of economic resources. The process of restructuring includes the implementation of the necessary complex of organizational, production, managerial and financial measures. Even a successful enterprise needs to undergo a restructuring procedure with a certain periodicity, in order to optimize business processes. The construction market, like any other, inevitably endures a string of changes and transformations, and the enterprise in turn must meet the needs of the market. In order to avoid unnecessary labor and financial resources, when restructuring a construction company, a business process modeling method is used that allows early warning of possible errors, protects from threats, and minimizes risks. Modeling allows the governing bodies to form a restructuring program that helps the enterprise to exit the crisis situation and aims at increasing production efficiency with minimal losses. Modeling of business processes is an objective assessment of the company's activities and at the same time as a tool for project-investment solutions in accordance with the needs of the market. In practice, the modernization of the construction industry through restructuring allows for analyzing the structure of the enterprise in details, identifying the existing potential and eliminating the identified shortcomings, so that the enterprise can again effectively function in the market.